In a first in country, 5.9 million tonnes Lithium deposits found in J&K
By Lokmat English Desk | Published: February 10, 2023 05:09 PM2023-02-10T17:09:56+5:302023-02-10T17:09:56+5:30
Next 
New Delhi: The Union Government on Thursday said that 5.9 million tonnes of lithium reserves have been found for the first time in the country in Jammu and Kashmir.Mines at the preliminary stage of exploration are also known as G3.
The ministry of mines on Thursday made the announcement about the discovery on Twitter.
It said Vivek Bharadwaj, the mines ministry secretary, handed over 16 geological reports and memorandums to state governments during the 62nd Central Geological Programming Board meeting.
Speaking at the meeting, Bharadwaj said this is for the first time that lithium reserves have been discovered in the country.
He handed over two geological reports of lithium blocks in Reasi to J&K mining secretary Amit Sharma for further action.
Sharma said J&K has made history in mining sector with the discovery of critical mineral lithium used in mobile and EV batteries.
Whether it's an electric car or a large electric truck, all of them will use lithium-ion batteries. Availability of lithium reserves in India will boost battery production in the country. India will be included among the major lithium producing countries in the world.
The price of lithium fluctuates as well. A commodity market is a commodity market, just as the value of a company's shares is determined daily in the stock market. The current price of lithium ion in this market was 472,500 yuan (about Rs. 57,36,119) per tonne.
The cost of one tonne of lithium in Indian rupees is Rs 57.36 lakh. 5.9 million tonnes of lithium reserves have been discovered in India. That is, at this rate, this stock is worth Rs 33,84,31,021 lakh (Rs 3,384 billion).
Australia is currently number one in lithium production. Australia has 52 percent of the world's share. Chile is second, with a share of 24.5 percent. China ranks third, producing 13.2 percent of lithium. Other countries including India import lithium.
Lithium demand could increase by 1000 percent in 2025 compared to 2015. In such a situation, its price is also likely to increase. Battery prices may decrease in the future. This will also reduce the price of petrol and diesel. Dependence on it and pollution will also decrease.
