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Business News/ News / India/  India finds big lithium reserve in J&K
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India finds big lithium reserve in J&K

Lithium reserve in Reasi is the first significant mineral discovery in India, as previously only a small reserve had been discovered in Karnataka

Since lithium is a key component of batteries used in electric vehicles, the government is searching for rare metal reserves both within and outside the country. Bloomberg Premium
Since lithium is a key component of batteries used in electric vehicles, the government is searching for rare metal reserves both within and outside the country. Bloomberg

NEW DELHI : In a major boost to India's self-sufficiency in electric vehicle batteries, the Geological Survey of India (GSI) has discovered lithium for the first time in Reasi district of Jammu & Kashmir (UT). 

This is the first significant mineral discovery in India, as previously only a small reserve had been discovered in Karnataka.

It attributes the discovery to the mines ministry's new focus on rare earths.

 “We have re-oriented our exploration measures towards critical and strategic minerals and this discovery is a vindication of our efforts," Vivek Bhardwaj, secretary, Ministry of Mines, said to a query by Mint. 

Since lithium is a key component of batteries used in electric vehicles, the government is searching for rare metal reserves both within and outside the country. 

Apart from GSI, a consortium of three Public-sector Undertaking companies – National Aluminium Company, Hindustan Copper, and Mineral Exploration Corp – is working to provide a vehicle for research & development for recycling, acquisition, and also joint manufacturing of Lithium-ion batteries. 

Lithium reserves are concentrated in the lithium triangle in South America – Argentina, Bolivia & Chile, with 50% of the deposits concentrated in these regions. China, meanwhile, has the lead over other countries and China controls 75% of Lithium refining.  

India's plan to increase EV penetration by 30% by 2030 relies heavily on lithium - as of now, only a little more than 1% of all vehicle sales in the country are electric vehicles.

A lithium battery is the only alternative for electric vehicles since it has a high power-to-weight ratio, enabling it to provide a large charge while keeping the vehicle's curb weight low. Additionally, it is more energy efficient and performs better at a wide range of temperatures. This makes it a safer, more reliable method than other materials.

 

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Published: 09 Feb 2023, 10:50 PM IST
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