Lithium ion-rich Argentina woos India Auto Inc

As India embarks on its ambitious journey to go electric, along with the push by the government for adoption of electric vehicles (EVs), the government of Argentina has approached the Indian government and the automotive industry to invest in lithium mines in the country, according to PTI.

The South American nation has one of the largest lithium reserves in the world, and to meet India’s demand for EVs, lithium will play a crucial role.

“I am told India is planning to set up large lithium-ion battery plants. Argentina is ready to meet India’s growing demand for lithium," said Mario Osvaldo Capello, Undersecretary of Mining Development, Ministry of Energy and Mining, Government of Argentina.

Capello, who is currently in India, met top officials in the government including those from Ministry of Commerce and Industry and Mining, along with organisations that are working on battery development and EV projects, including –representatives from Maruti Suzuki, Tata Chemicals and Su Kam battery.

“We have lithium reserves to the tune of over 331,000 tonnes. Apart from giving various concessions on mining, we also offer a competitive edge and ensure ease of doing business compared to our competitors. Already, a couple of top Indian corporates have showed interest in lithium mining in Argentina,” Capello added.

The undersecretary mentioned that top global companies working on EVs and lithium-ion batteries development projects like Toyota Tsusho Corp, Aberdeen International and Chinas Jiangxi Ganfeng Lithium have already formed consortiums for lithium mining in Argentina.

“We want India to explore options for lithium mining apart from mining of other metals like copper, gold and silver. With India going to lead in EV revolution, we are also keen to partner with Indian companies in development of Lithium-ion battery technology,” concluded Capello.