New Delhi: India's state-owned Khanij Bidesh India Limited (KABIL) is expected to start lithium extraction in Argentina in the next four to five years after completing project feasibility, a parliamentary panel report on its operations said.
In 2024, KABIL signed a 2 billion-rupee ($20.92 million) lithium exploration pact for five blocks in Argentina.
The government of Catamarca in Argentina has offered seven additional greenfield lithium brine blocks under the existing agreement, which KABIL is evaluating, according to the report.
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KABIL is in the process of signing a preliminary agreement with the Ministry of Production and Mining of the Province of Salta, Argentina and Energy and Mining Resources Salta SA to collaborate on lithium projects in Salta.
Discussions are also underway for obtaining two greenfield lithium brine projects in Jujuy province.
Two additional projects are being evaluated by KABIL and Oil India and KABIL and Indian Oil Corp.
KABIL flagged delays in Argentina because of lack of expertise in handling lithium brine deposits.
In Australia, KABIL, along with Oil India, Coal India and NLC India was evaluating two lithium projects.
The panel confirmed a Reuters report that KABIL's lithium project in Mali with Uranium One Group, a subsidiary of Rosatom, was kept on hold due to "recent socio-political instability".
KABIL is also in talks with Malawi Mining Investment Company for critical mineral projects in Malawi.
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KABIL is evaluating investment opportunities in Brazil, Canada, Russia, Indonesia, among others and looking at rare earths.
The panel observed "limited progress" in securing overseas mineral assets and "prolonged timelines" in moving from negotiations to actual acquisition and production.
