Indian Battery Maker Altmin Seeking to Secure Lithium from Australia

Indian battery materials producer Altmin is in discussions with the Australian government to secure lithium supplies as part of its expansion strategy to address the growing demand for this critical mineral. Anjani Sri Mourya Sunkavalli, the company's managing director, confirmed that talks are ongoing with the Australian High Commission and the critical minerals office.

Currently, Altmin sources lithium carbonate from Brazil and Bolivia. Last year, the company signed an agreement with Bolivia's state-owned Yacimientos de Litio Bolivianos (YLB) to establish a plant in Bolivia to produce lithium iron phosphate materials. The plan includes importing lithium carbonate from YLB's Bolivian plant to support Altmin's operations in India.

In addition to this, Altmin is exploring opportunities to set up lithium refineries in both Brazil and Australia. This initiative is part of a broader strategy to diversify and secure its supply chain.

With India lacking local lithium processing facilities, the Indian government is offering incentives to encourage private companies to establish such infrastructure domestically. This move aims to reduce dependence on imported lithium and bolster the country's position in the global battery materials market.

Sunkavalli also mentioned the possibility of securing supplies of spodumene, a lithium-rich mineral, from Brazil. This would further enhance Altmin's ability to meet the increasing demand for lithium in the production of batteries, particularly as the global shift towards electric vehicles and renewable energy storage solutions accelerates.