Coal India considers acquiring Wealth Minerals unit for Chile lithium projects

Coal India, the world’s largest coal-producing company, is evaluating the acquisition of a Chile-focused lithium mining unit owned by Canada-based Wealth Minerals, Reuters reported. The potential deal would mark a major step by India to secure overseas lithium resources, a key mineral required for electric vehicle batteries, renewable energy storage and other clean technology applications.Coal India Net Profit Rises 0.7% To ₹8,850 Crore In Q1 FY27; Revenue Up 8% Coal India seeks Chile lithium footholdAs an initial step, Coal India and Wealth Minerals’ Chilean subsidiary Kuska Minerals have jointly submitted an application for a lithium extraction licence from the Chilean government.According to the report, any acquisition decision will be taken only after the mining licence is granted. Coal India may also explore forming a joint venture with Wealth Minerals, although details regarding ownership structure, investment commitments and partnership terms have not been finalised.The companies applied for the licence in October 2025, but the process has faced delays due to a change in government in Chile. Earlier reports had indicated that Coal India and Wealth Minerals were discussing a possible partnership, while talks regarding the acquisition of the lithium unit have now emerged.Wealth Minerals has two other lithium projects in Chile, according to information available on its website. India expands critical mineral strategyChile has the world’s third-largest lithium resources, estimated at 13 million metric tonnes, according to the US Geological Survey. The country is a major global supplier of lithium, alongside Argentina and Bolivia.India has so far had limited success in securing overseas lithium assets. In 2024, it obtained rights for lithium exploration and mining across five blocks in Argentina, marking its first overseas lithium venture.The government has been encouraging state-owned companies to invest in foreign mineral assets as part of efforts to reduce dependence on supply chains dominated by China.India has signed critical mineral cooperation agreements with countries including Argentina, Australia and Japan, while discussions are underway with Peru and Chile for broader partnerships.The country has also entered agreements with Germany, Brazil and Canada to improve access to mineral technology, expertise and strategic resources.Coal India’s possible entry into Chile’s lithium sector reflects India’s broader push to secure supplies of minerals crucial for electric mobility and clean energy transition.

Coal India’s move would mark one of India's most significant efforts to secure overseas lithium resources