After Jammu and Kashmir’s Reasi, lithium reserves have now been found in the Degana municipality of Rajasthan’s Nagaur district. The discovery of the reserves in Nagaur was confirmed by Rajasthan government officials and the Geological Survey of India. These reserves are said to contain significantly more lithium than the 5.9 million tonnes found in Jammu and Kashmir in February this year.
Speaking about the discovery, GSI and mining officials have said that the amount of lithium in these reserves is enough to meet 80% of India’s overall needs. The finding of these reserves could help India reduce its reliance on China for lithium, they asserted.
India presently relies significantly on foreign imports, particularly from China, to meet its lithium needs. In the fiscal year 2020-21, India imported lithium worth Rs 6,000 crore, of which China contributed Rs 3,500 crore.
Varun Goenka, CEO and Co-Founder, Chargeup said, “As India discovers significant lithium reserves in Rajasthan, in addition to the previously discovered reserves in Jammu and Kashmir, the country is well positioned to become the 3rd largest market for EVs in the next 4 years. Batteries, being the single largest cost and supplies dominated by China, have been a major obstacle for India’s EV industry.”
“However, with the ‘Make in India’ initiative and the discovery of lithium reserves, India is now able to reduce its dependence on foreign countries and control the fluctuating price of lithium. This development not only enables India to meet its domestic requirements but also allows it to supply lithium to other countries, creating a promising future for the country’s EV industry. The future seems #chargedup for India as it accelerates towards achieving its goal of transitioning towards sustainable energy sources while reducing its carbon footprint,” he added.
Over 5.9 million tonnes of deposits found in Jammu and Kashmir
On February 9, the Union Government said that 5.9 million tonnes of lithium reserves have been found for the first time in the country in Jammu and Kashmir.
“Geological Survey of India for the first time established Lithium inferred resources (G3) of 5.9 million tonnes in the Salal-Haimana area of the Reasi district of Jammu and Kashmir,” the Ministry of Mines said.
It further that 51 mineral blocks including Lithium and Gold were handed over to respective state governments.
“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.
Notably, days after the Geological Survey of India (GSI) discovered the lithium reserves in Jammu and Kashmir, the Central government decided to invite bids for the auction of the country’s first Lithium reserve. Last week, Vivek Bharadwaj, secretary of the Union Ministry of Mines confirmed that India will auction the lithium blocks found in Jammu and Kashmir later this year.
Lithium = ‘White Gold’
Lithium is a soft, silvery-white metal that has earned the moniker “white gold” due to its great demand in the global energy markets. Lithium serves a variety of purposes and is an essential part of the electrochemical cells used in the batteries for electric vehicles, laptops, smartphones, and other electronic gadgets.
The discovery of a lithium resource first in Jammu and Kashmir and now in Rajasthan can help India meet its goals of decreasing emissions and reaching net zero by 2070. This can be achieved by providing Lithium, a vital component for electric car batteries.
With India’s push for the introduction of Electric Vehicles (EVs), this is a crucial discovery because it will significantly boost the country’s self-sufficiency in EV batteries.
It is worth noting that while “reserves” are a subset of resources that are economically viable to extract, “resources” refers to an approximate quantity of a geological commodity in discovered and undiscovered deposits.
According to International Energy Agency (IEA), the world could face a Lithium shortage by the year 2025. Amidst a significant rise in demand for electric vehicles, India can play a crucial role by addressing the global shortages.
As per a World Economic Forum (WEF) report, Lithium supply is constrained not just by rising demand but also by resources concentrated in a few regions and the fact that more than half of current production takes place in regions with significant water stress. Notably, the “Lithium Triangle” countries of Argentina, Bolivia, and Chile hold an estimated 60% of global lithium reserves.
According to a report by the Central Electricity Authority (CEA), India would have a battery storage capacity of 27,000 Megawatts by 2029–30. If India manages to deal with the challenges ahead, this discovery of the Lithium reserve can prove to be a game-changer for India.
Lithium reserve bigger than J&K found in Rajasthan, GSI calls discovery important as it will reduce India’s dependency on China - OpIndia
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