Indian state firms in talks to buy 20% of SQM's lithium projects in Australia
A consortium led by KABIL is negotiating a $600 million deal with Chile's SQM for stakes in two lithium projects, marking India's drive to secure essential minerals for EV production
Four Indian state firms, led by government-backed Khanij Bidesh India Ltd. (KABIL), are negotiating with Chilean mining company SQM to purchase a 20% share in two of SQM's lithium projects located in Australia for $600 million. This move is part of India's strategic effort to secure lithium supplies, vital for electric vehicle battery production, as the country seeks to minimize carbon emissions. The consortium includes Coal India, Oil India and ONGC Videsh, focusing on SQM's Mount Holland and Andover lithium projects in Western Australia.
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