Digging Deep: India’s Critical Mineral Chase Leads to Australia, Argentina & Chile!

Image Source: Sagar Sandesh

India is intensifying its efforts to secure critical mineral resources, with the Ministry of Mines actively exploring lithium and cobalt assets in Australia, Argentina, and Chile. The initiative, led by Khanij Bidesh India Ltd. (KABIL), aims to reduce India's dependence on imports and strengthen its electric vehicle (EV) and renewable energy sectors.

1. Strategic Partnerships and Agreements

Argentina: KABIL has signed an Exploration and Development contract with a state-owned company, securing exclusive rights to explore lithium blocks in Catamarca Province.
Australia: A Memorandum of Understanding (MoU) has been signed with the Critical Mineral Office (CMO), Department of Industry, Science and Resources (DISER) to conduct joint due diligence and invest in lithium and cobalt mining assets.
Chile: KABIL has entered a Non-Disclosure Agreement (NDA) with ENAMI, a state-owned company, to explore brine-type lithium deposits.

2. Why These Minerals Matter

Lithium and cobalt are essential for EV batteries, renewable energy storage, and advanced electronics.
India currently imports most of its lithium, making domestic and international exploration crucial for energy security.
The global demand for lithium is expected to triple by 2030, making early investments strategically vital.

3. Future Outlook and Economic Impact

KABIL is actively pursuing additional exploration projects, ensuring long-term mineral security.
The initiative aligns with India’s goal of becoming a global leader in clean energy and EV production.

Experts predict that successful mineral acquisitions will boost India's industrial growth and reduce reliance on foreign suppliers.

Sources: Economic Times, Times of India, pib.gov.in