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Khanij Bidesh India Ltd is a new company incorporated in August, 2019 by three state-owned companies, NALCO, Hindustan Copper and Mineral Exploration Ltd, with a specific mandate to acquire strategic mineral assets such as lithium and cobalt abroad
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It inked a pact with an Argentine firm mid-last year to jointly prospect lithium in Argentina that has the third largest reserves of lithium.
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It is also learnt to be exploring options in Chile and Bolivia, two other top lithium-producing countries.
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Lithium, the silver-white alkali metal is a crucial building block of the lithium-ion rechargeable batteries that power electric vehicles (EVs), laptops and mobile phones.
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Currently, India is heavily dependent on import of these cells and the move to ink sourcing pacts for lithium is seen as another salvo in the front against China, a key source of both the raw material and cells.
