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Source: BL

India is on the verge of finalizing agreements for the acquisition of five lithium blocks in Argentina through the State-owned joint venture, KABIL.

Argentina, as part of the “Lithium Triangle” along with Chile and Bolivia, is a significant producer of lithium, holding the world’s third-largest lithium reserve.

KABIL is a joint venture, involving NALCO, MECL, and HCL, and is focused on identifying and acquiring strategic minerals overseas for India’s use. It is also exploring opportunities for lithium partnerships and acquisitions in other Latin American nations like Chile and Brazil, as well as in Australia for lithium and cobalt exploration.

Argentina is a country in the southern half of South America. Argentina is the second-largest country in South America after Brazil. The Andes Mountains, which run through both Argentina and Chile, are known for hosting lithium-rich brine deposits. The region’s unique geological conditions make it conducive to the formation and concentration of lithium resources.