Altmin is in Discussion with Australia for Lithium Procurement

Indian battery materials producer Altmin is in discussions with the Australian government to secure lithium supplies, according to Managing Director Anjani Sri Mourya Sunkavalli. He confirmed talks with the Australian High Commission and the critical minerals office. “We are talking to the Australian High Commission and the critical minerals office,” Sunkavalli stated.

Bolivia and Brazil are the suppliers of lithium carbonate to Altmin, which is presently the only manufacturer of cathode active materials in India. In order to develop a factory for generating lithium iron phosphate materials in Bolivia, the organization a year ago struck a deal with Yacimientos de Litio Bolivianos (YLB), the state-owned corporation in Bolivia. Later on, Altmin intends to import lithium carbonate for use in its business operations in India from YLB's Bolivian factory.

According to Sunkavalli, the corporation is also looking to build lithium refineries in Australia and Brazil. Due to the lack of lithium processing facilities in India, the Indian government is offering incentives to encourage private companies to set up local facilities, as reported by Reuters earlier this month. Sunkavalli also expressed interest in securing spodumene supplies from Brazil, a mineral, rich in lithium.

Notably, Altmin aims to set up a cathode active materials plant by 2025 in Hyderabad, sourcing lithium carbonate from both Brazil and Bolivia for this facility, Sunkavalli said. Sunkavalli said that Altmin is working to raise 3–4 billion rupees (USD 36–48 million) from institutional investors and sovereign wealth funds to finance its expansion objectives.