Argentina seeks Indian investment in lithium assets

Argentina’s Ambassador Mr. Daniel Chuburu has called on India to invest in his country’s lithium resources. He was speaking at a conference on e-mobility, organised in Chennai by the Confederation of Indian Industry.

“Argentina is getting into mining, notably, mining of lithium and India is invited to participate,” he said pointing out that the Chinese, Americans, Japanese, Canadians and French have already put their foot onto the Argentine mines.

The Ambassador informed that an Indian delegation, comprising members from the industry and the government, would be visiting Argentina to explore opportunities in mining lithium later this year. On offer would be a host of incentives, including duty-free import of capital goods and accelerated depreciation. “We are very keen to work with the Indian industry for the production of lithium,” he said.

Argentina, the Ambassador said, was ranked third among nine lithium-producing countries in the world. Today, it produces 38,000 tonnes of Lithium Carbonate Equivalent (LCE) from two mines, but a massive expansion is on the cards, so that the production increases to 290,000 tonnes by 2023.

Lithium deposits occur in two forms – in salt waters under salt flats called ‘salars’ (similar to India’s Rann of Kutch) and in the form of crystals trapped in igneous pegmatite rocks. Argentina has 23 salar projects (two in operation, one under construction and the others in advanced feasibility stage), and six 40 pegmatite exploration projects. Its ‘inferred reserves’ are estimated at 21.2 million tonnes of LCE.

Argentina is a mineral-rich country, like its neighbours Chile and Bolivia, and the three countries are sometimes referred to as ABC of lithium, or ‘lithium triangle’. But while Chile and Bolivia have vibrant mining industry, Argentina “is getting into mining now,” informed Mr. Chuburu.