By Sethuraman N R and Neha Arora <\/p>\n
NEW DELHI, Aug 11 (Reuters) – Coal India, the world’s largest coal miner, is considering acquiring a unit of Canada’s Wealth Minerals with lithium \u200cmining assets in Chile, two sources familiar with the matter said. <\/p>\n
The move would mark one \u200cof India’s most significant efforts to secure overseas lithium resources, a critical mineral used in electric vehicle batteries and energy storage \u200bsystems. <\/p>\n
India has had limited success in acquiring critical mineral assets abroad. So far, it has secured only one overseas lithium exploration and mining agreement, covering five blocks in Argentina in 2024. <\/p>\n
As a first step, Coal India and Kuska Minerals, Wealth Minerals’ Chilean subsidiary, have jointly applied for a lithium extraction licence from the Chilean \u200cgovernment, one of the sources said. <\/p>\n
JOINT VENTURE \u2060ALTERNATIVE <\/p>\n
“The acquisition will be decided after the mining licence. Once we get the licence, we will decide what we will do ahead,” the source said, declining to \u2060be identified because the discussions are confidential. <\/p>\n
Wealth Minerals has two other lithium projects in Chile, according to its website. <\/p>\n
Coal India could alternatively form a joint venture with Wealth Minerals, although the structure, ownership split and investment commitments \u200bhave \u200byet to be determined, the sources said. <\/p>\n
Neither Coal India \u200bnor Wealth Minerals immediately responded to requests for \u200ccomment. <\/p>\n
Reuters reported in April that Coal India was in talks with Wealth Minerals about a potential joint venture. The discussions over acquiring its Chile-focused lithium unit are being reported for the first time. <\/p>\n
Coal India and Wealth Minerals applied for the mining licence in October 2025, but the process has taken time due to a change of government in Chile, the source said. <\/p>\n
Coal India was in the final stages of \u200cnegotiations to buy the unit after months of talks, but \u200bthe deal could not proceed until the mining licence is \u200bgranted, the second source said. <\/p>\n
Chile holds the \u200bworld’s third-largest lithium resources, estimated at 13 million metric tons, behind Argentina and Bolivia, \u200caccording to the U.S. Geological Survey. <\/p>\n
India has \u200bbeen encouraging state-owned companies to \u200bacquire overseas mineral assets as New Delhi seeks to reduce reliance on China-dominated supply chains. <\/p>\n
The government has signed critical minerals cooperation agreements with Argentina, Australia and Japan, and is discussing broader \u200barrangements, including critical minerals partnerships, with \u200cPeru and Chile. <\/p>\n
This year, India also signed agreements with countries including Germany, Brazil and Canada \u200baimed at improving access to technology, expertise and mineral partnerships. <\/p>\n
(Reporting by Sethuraman NR and \u200bNeha Arora. Editing by Mayank Bhardwaj and Mark Potter) <\/p>\n","protected":false},"excerpt":{"rendered":"By Sethuraman N R and Neha Arora NEW DELHI, Aug 11 (Reuters) – Coal India, the world’s largest…\n","protected":false},"author":2,"featured_media":163690,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[17,371,52621,52619,41527,52620],"class_list":["post-163689","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-canada","tag-chile","tag-chilean-government","tag-coal-india","tag-critical-mineral","tag-lithium-mining"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/163689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=163689"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/163689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/163690"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=163689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=163689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=163689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}