SMM

According to multiples sources, India is in the final stages of securing lithium from Australia and Argentina at the beginning of December. KABIL, India’s joint venture with NALCO, Hindustan Copper, and Mineral Exploration Corporation, is working with Argentine companies to secure lithium supplies. They have signed MoUs with CAMYEN, Jujuy Energy, Mining State Company, and YPF for lithium and mineral exploration projects. The finalization of supply agreements is underway and expected within six months, pending Cabinet approval and discussions.
The increased demand for electric vehicles in India will lead to a significant escalation in the demand for lithium-ion batteries. This move is part of India’s efforts to achieve self-reliance in the supply of critical minerals and reduce import bills which are primarily from China at this moment.