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Business EconomyPosted at: Feb 9 2020 9:40PM


GOI to acquire Lithium mines in South America

Hyderabad, Feb 9 (UNI) Government of India would acquire strategic mineral assets in ''Lithium Triangle'' in three countries in South America including Bolivia, Argentina and Chile for strengthening of EV batteries in the country, Member, NITI Aayog V K Saraswat said on Sunday.
Indian Electric Vehicles (RV) depends on the supply on the supply of Llithium, Cobalt, nickel and manganese to manufactures the EV batteries.
The government having a dialogue with them (Bolivia, Argentina and Chile) for acquiring of Lithium mines, he further said at the sidelines of the launching of high speed electric scooter ''EPluto 7G'' developed by PURE EV, startup, incubated by IIT-Hyderabad.
''We are planning to acquire few mines and we will ask the industrialists in the country to do the mining, he said the dialogue is on and still in the early stages and we can’t assure whether it will happen'', he stated.
2GW battery plant would set up by the Government of India in ''challenge mode'' and we will ask the industrialists in the country to come up with the proposals, he added.
If they (companies) are ready to invest, the government would support them for other activities, Dr Saraswat informed.
Almost 66 per cent of the world’s lithium reserves were in South America.
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