In a first for the country, the Geological Survey of India has said that it has found lithium deposits in Jammu and Kashmir.
According to reports, 5.9 million tonnes of Lithium inferred resources have been discovered in the Reasi district of the northern union territory of Jammu and Kashmir.
The statement further said that over 51 mineral blocks, which also include Lithium and Gold have been handed over to the respective state governments.
It further said that 51 mineral blocks including Lithium and Gold were handed over to respective state governments. Lithium is a non-ferrous metal and is one of the key components in EV batteries.
“Out of these 51 mineral blocks, 5 blocks pertain to gold and other blocks pertain to commodities like potash, molybdenum, base metals, etc. spread across 11 states of Jammu and Kashmir (UT), Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu, and Telangana,” the ministry added.
Lithium to boost the EV industry in India?
According to a report by the Economic Times, Elon Musk expressed his discontent with lithium’s “insane rally”. He also added that the high costs of raw materials were one of the major concerns for his company, Tesla Inc.
Given the country’s lag in the adoption of EVs, the Prime Minister has introduced incentives of at least $3.4 billion. These efforts have caught the eyes of several important industrialists from the country, including the likes of Mukesh Ambani.
The discovery by the GSI has the potential to strengthen the country’s position in a market where India is far from being the leader.