What is Coal India considering doing with Wealth Minerals' Chilean lithium unit, and what condition must be met before a final decision is made?

Coal India is considering acquiring Wealth Minerals' Chile-focused lithium unit, which holds lithium mining assets in Chile; however, the acquisition decision will only be made after the Chilean government grants a lithium extraction licence, as stated by a source: 'The acquisition will be decided after the mining licence. Once we get the licence, we will decide what we will do ahead.'

Why is this potential move significant for India's critical mineral strategy, and what prior overseas lithium agreement has India secured?

This move would mark one of India's most significant efforts to secure overseas lithium resources — a critical mineral for electric vehicle batteries and energy storage — given India's limited success so far, having secured only one overseas lithium exploration and mining agreement to date: five blocks in Argentina in 2024.

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