India in talks to acquire lithium blocks in Australia, Chile; eyes five more in Argentina: Kishan Reddy

The Union Mines Ministry is in talks with Australia and Chile to acquire lithium blocks, while seeking five additional blocks in Argentina, Union Mines Minister G. Kishan Reddy said on Friday, as India steps up efforts to secure supplies of the critical mineral.

“India has limited lithium reserves. Therefore, we acquired five blocks in Argentina and are now seeking to acquire five more [blocks there],” Reddy told reporters on the sidelines of the third edition of CII’s Global Summit on Advanced Materials, Critical Minerals & Metals.

“Similarly, we are speaking to Australia and Chile,” he said, adding the talks were both at the government-to-government level and with private entities.

The Ministry is also encouraging Indian private companies to enter overseas markets, undertake exploration and subsequently mine the resources, with the extracted minerals to be supplied to India, Mr. Reddy said.

Separately, the Minister highlighted e-waste recycling as an important source of critical minerals for India. As many as 125 entities have registered to avail incentives under the government’s ₹1,500-crore e-waste recycling package, of which 58 have been cleared, he said.

The projects are expected to recover around 96 kilotonne of critical minerals annually. The Mines Ministry has approached NITI Aayog to determine the allocation of incentives for the 58 eligible entities, Reddy added.

“About 25-30% of India’s requirements for critical minerals can be acquired via e-waste recycling,” he said, underlining the role of secondary sources in reducing the country’s dependence on overseas supplies.