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5.9 Million Tonnes Lithium Deposits Found In J&K

For the first time in India, 5.9 million tonnes of lithium deposits have been discovered in Jammu and Kashmir.
Jammu

Lithium is the only metal to be borne out of the Big Bang. It produces an inflammable reaction with water - intense enough to burn flesh. Mainly used in ceramics and glass, greases, pharmaceutical compounds, air conditioners and aluminium production. More than half of the world’s lithium comes from Australia.

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For the first time in India, 5.9 million tonnes of lithium deposits have been discovered in Jammu and Kashmir. Lithium is a non-ferrous metal that is an important component in EV batteries. Demand for lithium, nickel, cobalt, and other metals used in lithium-ion batteries is increasing as the globe shifts away from gasoline-powered combustion engines.

On Thursday, India’s Mines Ministry reported that 5.9 million tonnes of lithium deposits have been discovered for the first time in the country in Jammu and Kashmir. “The Geological Survey of India established Lithium inferred resources (G3) of 5.9 million tonnes for the first time in the Salal-Haimana area of the Reasi district of Jammu and Kashmir,” the Ministry of Mines announced on Thursday.

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5.9 Million Tonnes Lithium Deposits Found In J&K

It went on to say that 51 resource blocks, including lithium and gold, had been handed over to state governments. Lithium is a non-ferrous metal that is an important component in EV batteries.

“Of these 51 mineral blocks, 5 pertain to gold, while the remaining blocks pertain to commodities such as potash, molybdenum, base metals, and so on, and are spread across 11 states including Jammu and Kashmir (UT), Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu, and Telangana,” the ministry added.

The blocks were created based on GSI’s work from the 2018-19 field seasons to the present. According to BloombergNEF, lithium-ion battery prices increased for the first time in the EV era last year. Elon Musk decried lithium’s “insane” surge, citing high raw material costs as one of Tesla Inc.’s major challenges.

The central government has announced at least $3.4 billion in incentives to accelerate its lagging adoption of EVs, as Prime Minister Narendra Modi aims to achieve net zero emissions by 2070. The assumption is that manufacturing the most expensive component — batteries — domestically will lower the end product’s cost for the mass market and position the country as a prospective exporter, capitalising on increasing worldwide demand.

The projects have grabbed the interest of billionaires such as Mukesh Ambani, whose Reliance Industries Ltd. is constructing an EV battery plant as part of a larger $76 billion renewable energy drive. Ambani’s company is one of three, along with scooter manufacturer Ola Electric Mobility Pvt. and bullion refiner Rajesh Exports Ltd., to get incentives under a $2.3 billion scheme to boost advanced battery cell development.

The world’s second most populous country has only a fraction of the raw materials required to meet domestic demand for lithium-ion batteries, which is expected to more than triple by 2030, much alone produce on a worldwide scale. Demand for lithium, nickel, cobalt, and other metals used in lithium-ion batteries is increasing as the globe shifts away from gasoline-powered combustion engines.

“The entry barriers are extremely high,” Manikaran Power Ltd. director Jasmeet Singh Kalsi told Bloomberg. The company is building India’s first lithium refinery and is looking for nickel, cobalt, and copper assets in other countries. “The majority of it has been taken by China.” India has a long way to go to catch up, and it faces competition from other countries, including the United States, which is pushing to increase domestic battery production in order to break China’s market dominance.

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FAQs

Lithium is a naturally occurring chemical element that is occasionally used in pharmaceuticals to treat mental diseases such as bipolar disorder. Lithium can be used to treat acute mania, or “highs,” as well as to help with long-term mood stability. It is also used to treat some types of depression and other mental illnesses.

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