Battery Materials Producer Altmin in talks with Australia For Lithium Supplies

Indian battery materials maker Altmin is in converses with the Australian government to get lithium supplies, the organization's managing director mentioned, on account its development intends to fulfill rising need for the critical mineral.

"We are talking to the Australian High Commission and the critical minerals office," Anjani Sri Mourya Sunkavalli told Reuters.

Altmin, India's just cathode dynamic materials maker, presently sources lithium carbonate from Brazil and Bolivia. Last year, Altmin inked an agreement with Bolivia's state-owned Yacimientos de Litio Bolivianos (YLB) to set up a plant to create lithium iron phosphate materials in the South American country. Altmin later designs to bring lithium carbonate from YLB's Bolivia plant for its activities in India. The organization is additionally investigating the chance of setting up lithium treatment facilities in Brazil and Australia, Sunkavalli said.

Without lithium handling offices in India, New Delhi is providing incentives to urge privately owned businesses to set them up locally, Reuters announced recently. Sunkavalli said he would attempt to investigate whether Altmin could get supplies of spodumene, a mineral with a high centralization of lithium, from Brazil.

The organization intends to set up a cathode dynamic materials plant by 2025 in India's southern city of Hyderabad, and it would source lithium carbonate from both Brazil and Bolivia for the arranged unit, Sunkavalli said. Altmin is currently raising 3-4 billion rupees ($36-$48 million) from sovereign wealth funds and institutional financial backers in the following a few months to support its development plans, Sunkavalli said.