Coal India Ltd’s board on Wednesday approved setting up an intermediate holding company in Chile to pursue critical minerals opportunities, including lithium and copper, as both countries move closer to finalising a free trade agreement.
Commerce and Industry Minister Piyush Goyal had recently said negotiations between India and Chile for an FTA would be concluded soon and the pact would provide greater access to critical minerals for domestic businesses.
Chile has large reserves of lithium, copper, rhenium, molybdenum and cobalt, which are key inputs for sectors such as electronics, automobiles and solar energy.
