Indian State-Owned Firms in Talks to Acquire 20% Stake in World's Second Largest Lithium Producer's Australian Projects

Indian State-Owned Enterprises Seek Stake in World's Second Largest Lithium Producer's Project

Four Indian state-owned enterprises are in talks with Chilean miner SQM to acquire a 20% stake in its two lithium projects in Australia for $600 million, marking New Delhi's largest effort to secure supplies of critical EV battery metals. The government-backed Khanij Bidesh India has partnered with Coal India, Indian Oil Corporation, and ONGC Videsh to seek a 20% stake in SQM's Mount Holland and Andover lithium projects in Western Australia. SQM is the world's second-largest lithium producer. One of the sources stated, "This is India's largest attempt so far to secure overseas lithium supplies. Due diligence is ongoing, and both companies have expressed interest in making an initial offer.