Coal India weighs buying Canada's Wealth Minerals unit for Chile lithium assets, sources say
NEW DELHI: Coal India, the world’s largest coal miner, is considering acquiring a unit of Canada’s Wealth Minerals with lithium mining assets in Chile, two sources familiar with the matter said. The move would mark one of India’s most significant efforts to secure overseas lithium resources, a critical mineral used in electric vehicle batteries and energy storage systems. India has had limited…
Coal India is exploring the possibility of acquiring a Canada-based company's lithium mining assets in Chile, according to sources familiar with the situation. This move would represent one of India's most significant efforts to secure overseas lithium resources, which are crucial for electric vehicle batteries and energy storage systems.
To date, Coal India has only secured one overseas lithium exploration and mining agreement, which involved five blocks in Argentina in 2024. The acquisition would involve Coal India and Kuska Minerals, Wealth Minerals' Chilean subsidiary, jointly applying for a lithium extraction license from the Chilean government. The decision to proceed with the acquisition will depend on securing the mining license.
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