Catamarca, Argentina / Bhubaneswar, 15.01.24: In a groundbreaking development, Khanij Bidesh India Limited (KABIL), under the Ministry of Mines, Government of India, has signed a landmark agreement with Argentina’s state-owned enterprise, CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE), marking India’s first-ever lithium exploration and mining project by a government company. The agreement was signed today at Catamarca, Argentina, in the presence of key dignitaries.
Key Signatories and Witnesses
The agreement was signed in the presence of Honorable Governor of Catamarca, Lic. Raul Jalil, Honorable Vice Governor of Catamarca, Eng. Ruben Dusso, Honorable Minister of Mines Catamarca, H. E. Marcelo Murua, and Ambassador of India to Argentina, H. E. Dinesh Bhatia. The virtual attendance included Honorable Union Minister of Parliamentary Affairs, Coal, and Mines, H. E. Shri Pralhad Joshi, and Secretary, Ministry of Mines, Government of India, Shri V. L. Kantha Rao. Key representatives from KABIL, including Chairman and CMD NALCO Shri Sridhar Patra and KABIL CEO & NALCO Director (Commercial) Shri Sadashiv Samantaray, were also present.
First-of-its-Kind Lithium Exploration Project
KABIL is set to initiate the exploration and development of five lithium brine blocks, namely Cortadera-I, Cortadera-VII, Cortadera-VIII, Cateo-202201810132, and Cortadera-VI, covering an extensive area of about 15,703 hectares in the Catamarca province of Argentina. The project, with an estimated cost of 200 crores, marks a significant milestone for India’s pursuit of lithium resources.
Commitment to Sustainability and Bilateral Ties
Speaking on the occasion, Hon’ble Union Minister Shri Pralhad Joshi emphasized the historic significance of the agreement, stating, “This is a historic day for both India and Argentina as we are scripting a new chapter in bilateral ties with the Agreement signing between KABIL and CAMYEN – a step which will not only play a crucial role in driving the energy transition for sustainable future but also ensure a resilient and diversified supply chain for critical and strategic minerals essential for various industries in India.”
Critical Mineral Security for India
With this agreement, KABIL secures exploration and exclusive rights for five blocks, enabling the evaluation, prospecting, and exploration of lithium. Subsequent to the existence or discovery of lithium mineral, exploitation rights for commercial production will be granted. This strategic move not only strengthens bilateral ties between India and Argentina but also contributes to the sustainable development of the mining sector, ensuring a resilient and diversified supply chain for critical and strategic minerals essential for various industries.
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