The Geological Survey of India (GSI) found the lithium reserves in J&K which is the first such discovery of 5.9 million tonnes in the Salal-Haimana area of the Reasi District of Jammu & Kashmir (UT)
India is likely to auction the lithium blocks found in Jammu and Kashmir later this year, said Vivek Bharadwaj, Secretary of the Ministry of Mines on Tuesday.
He told Reuters, of recommending a transaction advisor to the Jammu and Kashmir government for the reserves auction.
Earlier this year, the Geological Survey of India (GSI) found the lithium reserves in J&K. The first such discovery of 5.9 million tonnes in the Salal-Haimana area of Reasi District of Jammu & Kashmir (UT).
Reports suggest this discovery will reduce India’s lithium imports, currently, the country is dependent on its 100 per cent imports with Hong Kong, China and the US being the top importers.
As lithium is a non-ferrous metal, it is considered one of the key components in EV batteries. And with the J&K reserves, the center can move ahead with its ambitious plan for EV penetration, 30 per cent for private cars, 70 per cent for commercial vehicles, and 80 per cent for two and three-wheelers.
Besides, electric vehicles, lithium-ion or Li-ion batteries are also used in wind turbines and solar panels and their demand is expected to surge in the coming years bringing in a green revolution.
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