India's Secretary of Mining, V.L. Kantha Rao, visited Argentina and met with his Argentine counterpart, Luis Lucero, along with representatives from the national government and mining-active provinces. The meeting, held at the Ministry of Foreign Affairs, also included key industry business leaders and institutions. Bilateral relations between both countries have strengthened in recent years, driven by India's interest in investing in lithium, copper, and gold, as well as in the energy sector. Strategic cooperation aims to foster joint projects and explore opportunities for business, institutional, and scientific integration.
By Panorama Minero
With this focus, the Indian government seeks to secure access to essential minerals for its ambitious vehicle electrification plan, projected beyond 2030. This interest stems primarily from the need to establish a reliable supply chain for battery and electric vehicle (EV) manufacturing, given India's domestic production deficit of these resources. According to India Briefing, by 2030, two-wheeled EVs are expected to account for 40% to 45% of total EV sales in India, while electric cars will reach between 15% and 20%. Additionally, the Indian government aims for an adoption rate of 40% in buses, 30% in passenger vehicles, 70% in commercial vehicles, and 80% in two-wheelers.
Rao's visit also marked progress in the implementation of the Memorandum of Understanding (MOU) on Cooperation in Mineral Resources, signed in 2022. Within this framework, two working groups were established: one focused on geological exploration, led by the president of the Argentine Geological Mining Service (SEGEMAR), Julio Bruna Novillo, and another dedicated to investment attraction, headed by the Undersecretary of Mining Development, Mario Thiem. During the meeting, both countries agreed to strengthen cooperation in geological exploration and promote foreign investment. Furthermore, it was established that their respective geological services will collaborate to expand knowledge on unexplored regions—a crucial need for Argentina, where many metal mining operations are in their final stages without new deposits in sight.
According to statements by Luis Lucero to Forbes, more than 70% of both Argentina's and India's territories lack detailed geological surveys. In response, India has expressed its willingness to send companies to participate in new exploration campaigns and leverage SEGEMAR’s expertise in identifying underground resources.
In this way, Argentina continues to strengthen its relationships with key players in the energy transition. The United States, China, India, and Europe already have significant investments in the country's mining sector, along with additional investment commitments that could materialize by the end of the decade. If realized, these projects could drive a reconfiguration of the national production model, positioning mining alongside agriculture and the oil & gas sector as one of the three pillars of economic development.
