India Eyes Argentina’s Lithium Reserves; MEA Highlights Public And Private Sector Investments
India shows strong interest in Argentina’s lithium reserves, with public sector firms like Coal India and KABIL signing concession deals. Private firms also investing to support India’s clean energy.
Buenos Aires [Argentina], July 6 (ANI): The Ministry of External Affairs on Saturday (local time) emphasised India's great interest in Argentina's lithium reserve, noting Indian public sector companies are "working out the implementation of the investments" in the Latin Amercian country to produce, refine, and export minerals.
Addressing a press conference, MEA's Secretary (East) P Kumaran noted the efforts of Coal India Limited and Khanij Bidesh India Limited to pick up critical minerals assets in other countries for India.
"Argentina is a part of the Lithium Triangle. It is of great interest to us. We had two Indian public sector companies, Coal India Limited and a consortium called KABIL, which is specifically tasked with picking up critical minerals and assets outside India.
They have signed five concession agreements and are working on finalizing investments and working out the implementation of the investments in such a way that minerals can be produced here, refined and taken to India for various purposes and are working on finalising investments to implement them in a manner that allows minerals to be produced, refined, and exported," Kumaran said.
MEA's Secretary East also noted that two private sector companies owned by Indians have also invested in lithium concession in Argentina and hoped for more cooperation between the two nations.
"There are two private sector companies: one from India, called Greenco, and another Indian-owned company based in the UAE, World Metal Alloys, which is also invested in lithium concessions in Argentina. Hopefully, we will have more cooperation in the coming years," Kumaran said.
During his visit to Argentina, Prime Minister Narendra Modi discussed cooperation in the energy and critical minerals sectors with Argentine President Javier Milei, underlining India's growing energy and industrial needs while emphasising that Buenos Aires can serve as a "reliable partner."
MEA's Secretary (East) Kumaran emphasised that Argentina's rich reserves of critical minerals, such as lithium, copper, and rare earth elements, align with India's need for its clean energy transition and industrial growth.
"The two leaders also had an opportunity to discuss cooperation in the energy and critical mineral sectors. The Prime Minister underlined India's growing energy and industrial needs and emphasised that Argentina could serve as a reliable partner in supporting India's developmental journey," Kumaran said.
"Argentina's rich reserves of critical minerals, including lithium, copper and rare earth elements, align with India's need for secure and sustainable resources to drive its clean energy transition and industrial growth," he added.
Argentina is the third leg of PM Modi's five-nation tour after Ghana, and Trinidad and Tobago. It will be followed by visits to Brazil and Namibia.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
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