RECORD HIGHS 

NALCO, HINDUSTAN COPPER GAIN 7% ON HISTORIC LITHIUM PACT 

Published By MintGenie Team | 16 Jan, 2024
NALCO shares surged 6.70%, hitting a new lifetime high of 144 apiece.
Credit : PIXABAY
Hindustan Copper also gained, reaching a new 52-week high of 289.30 apiece, up by 7%.
Credit : PIXABAY
NALCO's new high comes after 16 years, surpassing the previous record set in January 2008.
Credit : PIXABAY
Khanij Bidesh India Limited (KABIL), a joint venture involving NALCO and Hindustan Copper, signed a deal with Argentina's CAMYEN SE.
Credit : UNSPLASH
The agreement focuses on exploring and developing five lithium mines in Catamarca, Argentina.
Credit : UNSPLASH
This marks India's first lithium exploration and mining project by a government company.
Credit : UNSPLASH
KABIL has exploration and exclusive rights for the lithium blocks covering approximately 15,703 hectares.
Credit : UNSPLASH
Estimated project cost is around 200 crores. KABIL is preparing to establish a branch office in Catamarca, Argentina.
Credit : UNSPLASH
The move enhances India's lithium sourcing capabilities for critical mineral security. Aligns with the 'Aatmanirbhar Bharat' (self-reliant India) initiative.
Credit : UNSPLASH
Argentina, part of the "Lithium Triangle," possesses substantial lithium resources. Holds more than half of the world's total lithium resources.
Credit : UNSPLASH