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Business News/ News / India/  New Lithium deposits discovered in Rajasthan after J-K
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New Lithium deposits discovered in Rajasthan after J-K

For the first time, lithium reserves were found in Jammu and Kashmir's Reasi in February this year.

Lithium reserves found in Rajasthan. Premium
Lithium reserves found in Rajasthan.

After Jammu and Kashmir, lithium reserves have been traced in Rajasthan's Degana, according to media reports citing state government officials. It is said that lithium reserves are higher than the ones recently found in Jammu and Kashmir. 

Officials have even alleged that the quantity of lithium here can meet around 80% of India's demand. For the first time, lithium reserves were found in Jammu and Kashmir's Reasi in February this year. 

This was 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 earth.

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. 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: 08 May 2023, 11:07 AM IST
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