India and Argentina on Wednesday signed an agreement for deeper collaboration in exploration and resource development of critical minerals, particularly lithium, an official statement said.
The Memorandum of Understanding (MoU) was signed in the presence of Union Minister for Coal and Mines G Kishan Reddy, Governor of Catamarca, Argentina, Raúl Alejandro Jalil.
Both sides discussed expanding cooperation in the mining sector, particularly in lithium exploration and investment opportunities, the Ministry of Mines said in a statement.
"A key highlight of the meeting was the signing of a Memorandum of Understanding between Mineral Exploration and Consultancy Limited (MECL), a PSU under the Ministry of Mines, and the Provincial Government of Catamarca, Argentina, which will pave the way for deeper collaboration in exploration and resource development of critical minerals," it said.
Argentina, known for its vast lithium reserves, is a crucial partner for India in securing essential minerals required for electric vehicle batteries and renewable energy storage, it said.
The discussions covered ongoing lithium exploration efforts by Khanij Bidesh India Ltd (KABIL) & Greenko in Catamarca and the possibilities of increasing participation of Indian companies in mining projects of Argentina.
Both sides explored avenues for investment, long-term supply agreements, and joint ventures that would help strengthen India's access to this critical mineral, it said.
Senior officials from both sides engaged in discussions on policy frameworks, regulatory aspects, and sustainable mining practices to ensure a mutually beneficial partnership.
Additionally, there was a strong emphasis on knowledge exchange and infrastructure support to enhance India's engagement in Argentina's mining sector.
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