2024-01-18 17:05:38
India has reportedly entered into a new deal to reduce China’s dominance in lithium supply.
Accordingly, yesterday (16) India’s Minister of Coal and Mines, Prakalat Joshi, signed an agreement to extract lithium from a lithium mine in Argentina.
Lithium batteries are increasingly used in electric vehicles, mobile phones and laptop computers.
Joint Organization of Mineral Conservation
Thus, lithium is a very important requirement for those related to the sector.
To this end, most of the lithium imported by India in 2020-21 was imported from China.
Following this, the United States-led Mineral Security Joint Organization (MSP) was formed in 2021 to reduce China’s dominance in lithium supply.
Australia, India, Canada, Finland, England, USA, Germany, Japan, Korea, Sweden and European Union are members of this organization.
Strengthening the supply of lithium
Based on this agreement, India’s Kanij Bidesh and Camyen jointly ventured into lithium extraction.
As a result, it has signed an exploration and mining contract for 5 lithium mines covering 15,703 hectares in Argentina’s Catamarca province for around Rs 200 crore.
The deal will help acquire technology related to lithium production.
It is also worth noting that through this agreement, it will be an opportunity for India to strengthen its lithium supply.
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