WHY IN THE NEWS?
Geological Survey of India (GSI), under the government’s energy security plans, has imitated seven lithium exploration projects in the states of Andhra Pradesh, Arunachal Pradesh, Jharkhand, Chhattisgarh, Rajasthan and Jammu & Kashmir.
Khanij Bidesh India Ltd (KABIL)
Khanij Bidesh India Ltd (KABIL) is a joint venture firm of Hindustan Copper Ltd, National Aluminium Company Ltd and Mineral Exploration Company Ltd. It is scouting for lithium and cobalt mines overseas with the target of acquiring them. JV KABIL has inked non-binding MoUs with YPF, JEMSE and CAMYEN which are owned by Argentina.
What is the reason for securing lithium supplies?
India needs to secure lithium supplies and doing so will boost the Indian energy sectors towards the green economy of the country. Reliance Industries Ltd (RIL) has already announced its plans of setting an Advanced Energy Storage Giga Factory. Bharat Heavy Electricals Ltd, Adani Group, Larsen and Toubro Ltd, Tata Chemicals, Greeenko Group, Renew Power etc are interested in building lithium-ion cell manufacturing plants in the country.
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