INDIA: According to the Geological Survey of India, 5.9 million metric tonnes of lithium deposits have been found for the first time in India in the Salal-Haimana area of Reasi district in Jammu and Kashmir.
Lithium, a nonferrous metal that is an important component in EV batteries, has the potential in India to strengthen the supply of key minerals that would facilitate electric vehicle plans.
For the time being, India depends on imports to meet its mineral demand for lithium, nickel, and cobalt. India is taking a step forward in becoming self-dependent in trying to meet its own needs of the chemical element, with the world trying to cut off dependency on China for important battery materials.
A report from last month, however, revealed that India has only a small segment of raw materials that would barely satisfy domestic demands for lithium-ion batteries.
The discovery of 5.9 million metric tonnes of the chemical element in Jammu and Kashmir would therefore give huge support to the government’s plans to expand into the EV market.
With the world changing preferences from gasoline and diesel to electric vehicles, the demand for the chemical element is rising as well. It is used in batteries for gadgets like laptops and mobile phones. The element has been called “white gold” for its usage in items that are essential for daily use.
A report from the International Energy Agency (IEA) reveals that the world could be on the brink of lithium shortages by 2025 as it won’t be able to keep up with the growing demand.
Another factor of concern is that lithium reserves are concentrated only in certain parts of the world, with 50% of the world’s deposits concentrated in the salt flats of Argentina, Bolivia, and Chile. China, on the other hand, has 60% of the world’s capacity for processing raw lithium products.
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