KABIL expresses interest to partner with Argentina-based CAMYEN: Govt

Khanij Bidesh India Ltd (KABIL) has evinced interest to collaborate with Argentina-based CAMYEN for prospecting two areas for the extraction of lithium in the South American country, an official release said on Monday.

KABIL, a joint venture company between NALCO, HCL and MECL, was formed in 2019 for sourcing strategic minerals like lithium and cobalt from overseas locations.

The JV expressed interest to partner with CAMYEN, Argentina, recently for prospecting two areas identified with the objective of establishing projects for extraction of lithium in due course of time, the Mines Ministry said in the release.

The ministry said that in October, CAMYEN through Indian Embassy at Buenos Aires shared information regarding two prospective lithium projects in la Aguada and El Indio in Catamarca.

KABIL signed three MoUs with Argentina government run companies JEMSE, CAMYEN and YPF in JulySep, 2020 to explore sourcing of lithium and other mineral assets in the South American country.

KABIL is also in the process of hunting joint lithium mining projects in Chile.

The JV under the mines ministry in March signed a memorandum of understanding with the Department of Industry, Science and Resources, Australia, for joint investment in lithium and cobalt assets in that country.