Metals News Hubb
Advertisement Banner
  • Home
  • News
  • Metallurgy
  • Contact
No Result
View All Result
  • Home
  • News
  • Metallurgy
  • Contact
No Result
View All Result
Gourmet News Hubb
No Result
View All Result
Home News

India eyes overseas copper, lithium mines to meet domestic shortfall

admin by admin
January 11, 2023
in News


The sources, with direct knowledge of the matter, did not wish to be identified, citing official rules.

“A team of experts has already studied the technical aspects of the one copper and two lithium mines in Argentina by visiting the sites,” said one of the sources.

“Now, we will start the commercial assessment, and that will take about a couple of months.”

The effort is part of India’s wider push to secure critical metals and minerals from top world producers, the sources said.

A spokesperson for the Ministry of Mines did not immediately respond to a request for comment.

As part of its drive to explore overseas mineral assets, the Indian government has formed Khanij Bidesh India (KABIL) Ltd – a company set up by state firms National Aluminium Company Ltd, Hindustan Copper Ltd and unlisted Mineral Exploration Corp Ltd.

KABIL is expected to set up its unit in Argentina to mine and process lithium, the sources said.

Lithium is an important raw material used to make electric vehicle batteries. As part of a broader push by the government to meet its decarbonisation goals, India has introduced a clutch of measures to boost sales of electric vehicles (EVs).

India is set to become the world’s third-largest market for passenger and other light vehicles, displacing Japan, according to a forecast by S&P Global Mobility.

Other than lithium, copper consumption has jumped in India, even as the country produces only 10-15% of its total copper requirement.

India was on track to be one of the world’s fastest-growing copper markets in 2022, bucking the trend of softening demand expansion elsewhere, including top consumer China, amid a slowing global economy.

(By Neha Arora and Mayank Bhardwaj; Editing by Bernadette Baum)


Related: India’s foray into the EV battery market lacks some key ingredients





Source link

Previous Post

Are We Nearing the End of Fiat Currency?

Next Post

Constellium Inks Contract To Supply Daher With Flat-Rolled Aluminium For TBM And Kodiak Aircraft – Aluminium Insider

Next Post

Constellium Inks Contract To Supply Daher With Flat-Rolled Aluminium For TBM And Kodiak Aircraft – Aluminium Insider

Recommended

Silver Fever, or Silver Fading? – Silver Doctors

5 months ago

What to Expect in 2023

2 months ago

Brazil’s miners want Europe to help fight Amazon gold havoc

7 days ago

Expect Greater Silver Deficits Going Forward – Silver Doctors

4 months ago

Industrial Action “Imminent” At Rio Tinto’s Gove Bauxite Mine After Labor Negotiations Stall – Aluminium Insider

3 months ago

China & Russia Own HOW Much Gold?

6 months ago

© 2022 Metals News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • News
  • Metallurgy
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • News
  • Metallurgy
  • Contact

© 2022 Metals News Hubb All rights reserved.