5.9 million ton Lithium deposits found in J&K
Lithium deposits totaling 5.9 million tons have been found in Jammu and Kashmir for the first time in India, the Ministry of Mines informed on Thursday. The Geological Survey of India (GSI) unearthed the relatively rare metal during exploration in Reasi district. In 2021, the Department of Atomic Energy (DAE) found 1,600 tons of Lithium in Karnataka's Mandya but it was declared commercially unviable.
Why does this story matter?
Lithium is a non-ferrous metal that is an essential element in the batteries of electric vehicles (EV) and most portable electronics, including smartphones and laptops, as it's rechargeable. India plans to increase EV penetration to 30% by 2030, which currently stands at 1%. Successfully processing Lithium can catapult India onto the global platform. Currently, India imports most minerals, including Lithium, cobalt, and nickel.
Mineral blocks handed over to state governments
The reserves are categorized as inferred resources called G3, which are essentially mines at the preliminary stage of exploration. Speaking at the 62nd Central Geological Programming Board, Mines Secretary Vivek Bharadwaj said that as many as 51 mineral blocks were found in 11 states, including five blocks of gold, Lithium, potash, molybdenum, and base metals. They were handed over to their respective state governments.
Re-oriented exploration measures toward critical minerals: Mines secretary
India's imports of Lithium batteries ever-rising
Lithium is the only alternative to fossil fuel in electric vehicles as it has a high power-to-weight ratio, which implies that it generates sufficient power while limiting the vehicle's weight. It is more energy efficient and performs better in a range of temperatures. India's imports of Lithium batteries jumped from $384 million in FY17 to $1.83 billion in FY22, which mostly came from China.
China controls 75% of Lithium refining
The world's 50% of Lithium deposits are concentrated in South America's Argentina, Bolivia, and Chile. On the other hand, China controls 75% of the world's total Lithium refining. The Ministry of Mines earlier said that it was trying to obtain minerals, essentially Lithium, from Australia and Argentina. Established in 1851, the GSI will take on 966 programs, including 318 mineral exploration projects, in 2023-24.
