India, through a newly-floated state-owned company, inked a pact with an Argentine firm mid-last year to jointly prospect lithium in the South American country that has the third largest reserves of lithium.
About:
The new company, Khanij Bidesh India Ltd was incorporated in August, 2019 by three state-owned companies, NALCO, Hindustan Copper and Mineral Exploration Ltd, with a specific mandate to acquire strategic mineral assets such as lithium and cobalt abroad
It is also learnt to be exploring options in Chile and Bolivia, two other top lithium-producing countries.
Lithium, the silver-white alkali metal is a crucial building block of the lithium-ion rechargeable batteries that power electric vehicles (EVs), laptops and mobile phones.
Currently, India is heavily dependent on import of these cells and the move to ink sourcing pacts for lithium is seen as another salvo in the front against China, a key source of both the raw material and cells.
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