On Tuesday, the joint secretary of the Indian Ministry of Mines, Veena Kumari Dermal, announced at an industry event that India is negotiating government-to-government agreements with Latin American and African countries to acquire strategic mineral blocks. Given the current state of the global supply chain, the initiative’s stated goal is to increase India’s strategic reserves. Dermal emphasised the ongoing discussions with Australia regarding similar mineral resources.
Dermal, the joint secretary of the Ministry of Mines, announced that India is in deep talks with several resource-rich Latin American and African nations to buy blocks either through direct government arrangements or on a priority basis.
Initiatives like the founding of Khanij Bidesh India Ltd. (KABIL) in Argentina, which aims to start exploratory activities, support the efforts. A $24 million lithium exploration transaction encompassing five blocks in Argentina was finalised earlier this year by KABIL, indicating that India is taking a proactive approach to securing vital resources.
The secretary of mines for India, V.L. Kantha Rao, highlighted the country’s mining strategy as a whole, with a focus on copper, cobalt, and lithium. Rao brought attention to India’s exploratory efforts in Africa while also looking for lithium extraction potential in Australia.
