A look at India’s lithium reserves in J&K
Recently, large lithium reserves were found in Jammu & Kashmir. The Indian government has announced bidding for newly discovered lithium reserves. Automobile manufacturers have bid for recently discovered lithium reserves in Jammu and Kashmir. A number of automakers are expected to join this list, including Mitsubishi, Tesla, and Ola Electric who led the way.
Lithium Reserves in India
Recently, Jammu & Kashmir’s Reasi district discovered lithium reserves worth 5.9 million tonnes. It has been discovered that India has the seventh-largest lithium reserve in the world after uncovering such a large amount of lithium. Lithium and its uses Lithium is a non-ferrous metal. The metal is a silvery-white alkali metal that is soft, lustrous, and silky to the touch.
This metal is used in battery manufacturing for electronic products like smartphones, laptops, and pacemakers. The glass and ceramics industries also use lithium as a metal. Because of its increasing use in the manufacturing of Lithium-ion batteries for electric vehicles, lithium has become a precious metal in recent years.
Auction for Lithium Reserves
The Indian Minister of Coal, Mr. Pralhad Joshi announced in March 2023 that, “lithium had been discovered in India’s northern federal territory of Jammu and Kashmir. It is essential that the mineral block is auctioned off in order for lithium to be retrieved.”
As part of his statement, he confirmed that the winner of the bid would be chosen by the authorities of Jammu & Kashmir.
According to Vivek Bharadwaj, the Union Mines secretary, the central government would complete the bidding process for the 5.9 million tonne lithium reserves that have been discovered in the Reasi district of the northern union territory of Jammu & Kashmir by December this year. On Tuesday, he said this when he was launching the report on ‘New-Age Energy Minerals’ by the Federation of Indian Chambers of Commerce and Industry (Ficci).
In Mr. Vivek’s statement, he announced that, “We expect the lithium reserve auction to be over by the end of this year. We have already recommended a transaction advisor to the J&K government for the lithium reserves bid.”
It is expected that the center will invite bids for the recently discovered metal in Jammu, by June this year.
Jammu & Kashmir lithium reserves are the first discovered lithium reserves in India. The use of lithium in many appliances led to the term “white gold” being given to lithium because of its value. The amount of lithium reserves discovered in India has the potential to change the Indian economy. Because large quantities of metal contribute hugely to the global market. The metal reserves can supply up to 80% of India’s lithium demand, and there would be no need to import lithium from other countries.
These reports indicate that top companies like Tesla, Ola Electric, and Mitsubishi will bid on lithium reserves found in Jammu & Kashmir. But, no official statement has been found from the companies or their authorities.
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