Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
India is making efforts to secure a stable lithium supply to support its growing electric vehicle (EV) industry. The Ministry of Mines has invested ₹200 cr in lithium exploration in Argentina, but industry experts highlight the need for expertise in lithium mining and processing to accelerate domestic activities.
Currently, India relies entirely on lithium imports, with more than 95% coming from China and Hong Kong. The joint venture Khanij Bidesh India Ltd (KABIL), involving NALCO, HCL, and MECL, has obtained exploration rights in Argentina and has agreements with Australia for lithium and cobalt exploration. However, the lithium industry faces a lengthy gestation period, averaging 6 to 7 years from discovery to production in South American brine assets, according to the International Energy Agency (IEA).
Ritabrata Ghosh, Vice President at ICRA, emphasises that China dominates 65% of the lithium processing/refining industry, an area where India currently lacks a foothold. Ghosh points out that mining and processing are distinct activities that require individual focus and development. While Argentina has proven extraction and processing technology for brine deposits, commercialising these assets may take time due to India's limited expertise in lithium mining and its track record of developing mining assets in foreign countries, which involves elevated execution risks.
India's initiative to invest in lithium exploration is a positive step, but there is a need for a comprehensive strategy that includes both mining and processing expertise to effectively compete in the global lithium market. The challenges lie in overcoming the gestation period for lithium production and developing the necessary capabilities in a sector dominated by China.
Also Read : Government approves ₹8,500 cr incentive scheme for coal gasification projects Parliamentary Panel Flags Slow Capex in Steel, Mines PSUs
Sinnar Thermal Power (STPL), a subsidiary of RattanIndia Power, has lost control as the bankruptcy a...
Mid Corporate 01-Feb-2024
✅ 12% import duty proposal to protect India’s steel industry.✅ Prices may increase as import...
Business 22-Mar-2025
Recent developments have raised concerns about China's export-driven recovery as the U.S. Economy is...
Business 08-Aug-2024
The Centre on Thursday designated iron and steel as "public utilities" for the next six months, foll...
Announcement 16-Feb-2024
✅ Steel prices up as safeguard duty fears rise.✅ Potential 15% duty may protect domestic producers...
Business 18-Mar-2025
The world’s largest cruise ship is set for its maiden voyage on Saturday, but environmental...
USA 27-Jan-2024