India Targets SQM's Australian Lithium To Diversify Its Imports

India wants to secure a stake in Chilean mining leader SQM's (NYSE:SQM) projects in Australia. This deal would give India, a lithium importer, access to critical battery minerals to cater to its growing market.

According to anonymous sources cited by Reuters exclusive report, the Indian consortium, led by Khanij Bidesh India Ltd (KABIL), is pursuing stakes in SQM's Mount Holland and Andover lithium projects in Western Australia. Per initial estimates, a 20% stake in these projects would be worth around $600 million.

"This is so far India's biggest attempt to secure lithium supplies overseas. The due diligence is on, and the companies have expressed their interest with an initial offer," a source told Reuters.

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