India to send delegations to Chile seeking lithium and copper assets

Chile is a key target as it is the world's biggest supplier of copper and the second-biggest producer of lithium, which are essential for electric vehicle batteries and renewable energy systems

Ranjan Pai, Manipal Group
Dr Ranjan Pai, chairman, Manipal Group
Ajay BangaAkhil Bansal
1 min read Last Updated : Apr 01 2024 | 7:24 PM IST
India will send two delegations next month to Chile to scout for lithium and copper resources, a government source said, as rapid economic expansion and New Delhi's efforts to speed up the energy transition stoke demand for critical minerals.
Chile is a key target as it is the world's biggest supplier of copper and the second-biggest producer of lithium, which are essential for electric vehicle batteries and renewable energy systems in the push away from fossil fuels.

As part of India's drive to explore overseas for mineral assets, state firms National Aluminium Company, Hindustan Copper and unlisted Mineral Exploration and Consultancy have set up a company called Khanij Bidesh India (KABIL).
"KABIL has to send a delegation to Chile in April," said the source, who did not wish to be named as details of the plan have not been made public.
"We are interested in buying assets. We are trying to facilitate private and government-owned companies to acquire assets in other countries as well."
The government is separately sending a delegation to look for copper assets, the source said.

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Indian sugar industry

First Published: Mar 28 2024 | 6:04 PM IST

Next Story