Coal India weighs Wealth Minerals lithium acquisition

Coal India, the world's largest coal miner, is considering acquiring a lithium-focused unit of Canada's Wealth Minerals that holds assets in Chile. This move is part of India's strategy to secure overseas critical minerals, particularly lithium for EV batteries, and reduce reliance on China-dominated supply chains. As a first step, Coal India and Wealth Minerals' Chilean subsidiary Namib Minerals have jointly applied for a lithium extraction licence from the Chilean government in October 2025, but the process has been delayed due to a change of government in Chile. The acquisition decision will be made after the licence is granted, and a joint venture remains an alternative. India has had limited success in acquiring overseas lithium assets, having secured only one agreement in Argentina in 2024. The government has signed critical minerals cooperation agreements with Argentina, Australia, Japan, Germany, Brazil, and Canada, and is discussing partnerships with Peru and Chile.