India to auction first-ever lithium mines in Q1FY24
POWER & RENEWABLE ENERGY

India to auction first-ever lithium mines in Q1FY24

Following the discovery of 5.9 million tonnes of lithium reserves in Jammu and Kashmir by the Geological Survey of India (GSI), the Central government is set to invite bids for the auction of the country's first lithium reserve.

This comes after the Geological Survey of India discovered lithium inferred resources (G3) of 5.9 million tonnes for the first time earlier this month in the Salal-Haimana area of Jammu and Kashmir's Reasi District.

It is worth noting that India lacks a lithium refining facility. The Modi administration, on the other hand, has already set a target for EV sales to account for 30% of private automobiles, 70% of commercial vehicles, and 80% of two- and three-wheelers by 2030, citing an urgent need to decarbonize the transportation sector.

Nitin Gadkari, Union Minister for Road Transport and Highways, stated in 2021 that India could reduce its crude oil consumption by 156 million tonnes, or Rs 3.5 lakh crore, if electric vehicle penetration reached 40% in the two-wheeler and car segments and close to 100% in the bus segment by 2030.

UNFC classification

Notably, the United Nations Framework Classification (UNFC), a three-dimensional approach that considers geological, feasibility, and economic considerations, is used to analyse the mineral concession assessment. The geological axis has four stages:

reconnaissance (G4), prospecting (G3), general exploration (G2), and detailed exploration (G3) (G1).

The G3 category, or inferred resource, is defined by the UNFC as amounts associated with a recognised deposit that can be approximated with a low degree of confidence. Inferred resources are resources that can be approximated in terms of quantity, grade, or quantity based on geological evidence, sparse sampling, and reasonably presumed but unconfirmed geological and grade continuity.

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 is used for a variety of purposes and is an important component of electrochemical cells used in batteries for electric vehicles, laptops, smartphones, and other electronic devices.

The discovery of a lithium resource in Jammu and Kashmir could assist India in meeting its goal of reducing emissions and reaching net zero by 2070. This can be accomplished by providing Lithium, a necessary component for electric vehicle batteries. It is important to note that "reserves" are a subset of resources that are economically viable to extract, whereas "resources" refers to an approximate quantity of a geological commodity in discovered and undiscovered deposits.

The International Energy Agency (IEA) predicts that the world will face a lithium shortage by 2025. In the face of a significant increase in demand for electric vehicles, India can play a critical role in addressing global shortages.

According to a World Economic Forum (WEF) report, lithium supply is constrained not only by rising demand, but also by resources concentrated in a few regions and the fact that more than half of current production occurs in water-stressed areas. Notably, the "Lithium Triangle" countries of Argentina, Bolivia, and Chile are thought to hold 60% of the world's lithium reserves.

According to a report by the Central Electricity Authority (CEA), India will have 27,000 Megawatts of battery storage capacity by 2029-30. If India can overcome the challenges ahead, the discovery of the Lithium reserve could be a game changer.

See also:
Lithium reserve found in Jammu and Kashmir's Reasi
India eyes overseas copper, lithium mines to meet domestic shortfall


Following the discovery of 5.9 million tonnes of lithium reserves in Jammu and Kashmir by the Geological Survey of India (GSI), the Central government is set to invite bids for the auction of the country's first lithium reserve. This comes after the Geological Survey of India discovered lithium inferred resources (G3) of 5.9 million tonnes for the first time earlier this month in the Salal-Haimana area of Jammu and Kashmir's Reasi District. It is worth noting that India lacks a lithium refining facility. The Modi administration, on the other hand, has already set a target for EV sales to account for 30% of private automobiles, 70% of commercial vehicles, and 80% of two- and three-wheelers by 2030, citing an urgent need to decarbonize the transportation sector. Nitin Gadkari, Union Minister for Road Transport and Highways, stated in 2021 that India could reduce its crude oil consumption by 156 million tonnes, or Rs 3.5 lakh crore, if electric vehicle penetration reached 40% in the two-wheeler and car segments and close to 100% in the bus segment by 2030. UNFC classification Notably, the United Nations Framework Classification (UNFC), a three-dimensional approach that considers geological, feasibility, and economic considerations, is used to analyse the mineral concession assessment. The geological axis has four stages: reconnaissance (G4), prospecting (G3), general exploration (G2), and detailed exploration (G3) (G1). The G3 category, or inferred resource, is defined by the UNFC as amounts associated with a recognised deposit that can be approximated with a low degree of confidence. Inferred resources are resources that can be approximated in terms of quantity, grade, or quantity based on geological evidence, sparse sampling, and reasonably presumed but unconfirmed geological and grade continuity. 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 is used for a variety of purposes and is an important component of electrochemical cells used in batteries for electric vehicles, laptops, smartphones, and other electronic devices. The discovery of a lithium resource in Jammu and Kashmir could assist India in meeting its goal of reducing emissions and reaching net zero by 2070. This can be accomplished by providing Lithium, a necessary component for electric vehicle batteries. It is important to note that reserves are a subset of resources that are economically viable to extract, whereas resources refers to an approximate quantity of a geological commodity in discovered and undiscovered deposits. The International Energy Agency (IEA) predicts that the world will face a lithium shortage by 2025. In the face of a significant increase in demand for electric vehicles, India can play a critical role in addressing global shortages. According to a World Economic Forum (WEF) report, lithium supply is constrained not only by rising demand, but also by resources concentrated in a few regions and the fact that more than half of current production occurs in water-stressed areas. Notably, the Lithium Triangle countries of Argentina, Bolivia, and Chile are thought to hold 60% of the world's lithium reserves. According to a report by the Central Electricity Authority (CEA), India will have 27,000 Megawatts of battery storage capacity by 2029-30. If India can overcome the challenges ahead, the discovery of the Lithium reserve could be a game changer. See also: Lithium reserve found in Jammu and Kashmir's Reasi India eyes overseas copper, lithium mines to meet domestic shortfall

Next Story
Infrastructure Urban

EHRDC, Keolis MHI Enhance National Workforce Training in Transport

The Emirates Human Resources Development Council (EHRDC) has extended its partnership with Keolis MHI, the operator and maintainer of Dubai Metro and Dubai Tram, to provide high-quality training sessions for university students and Higher Colleges of Technology (HCT) students in Dubai. This initiative seeks to equip students with practical skills and empower them to enter the job market with confidence and competence. The collaboration aligns with EHRDC’s unwavering commitment to empowering and qualifying Emirati talent while boosting their role in driving the country’s digital economy. I..

Next Story
Technology

Lubrizol Amplifies India Commitment with Local Technology

To accelerate India-based innovation, Lubrizol announced it will open a state-of-the-art Technology and Innovation Center in Maharashtra. The first of its kind for the company globally, the facility is designed to progress breakthrough innovations, expand collaboration, and enhance speed to market for Lubrizol and the many customers and industries it serves both in the region and globally. The center will empower collaboration across Lubrizol, co-locating lab capabilities and expanding on the success of existing in-region technology Centers of Excellence (COE). The site will also include a Cu..

Next Story
Infrastructure Urban

Parliament Raises Concerns Over Mangrove Restoration Efforts

Mangrove forests in India are found along the coastline of 9 States and 4 Union Territories. Forest Survey of India (FSI), an organization mandated with forest survey under Ministry of Environment Forest and Climate Change (MoEFCC) publishes “India State of Forest Report” (ISFR) biennially. As per recent ISFR 2023, India has a total Mangrove cover of 4,991.68 sq km; which is 0.15 per cent of the country’s total geographical areas. There has been net increase of 363.68 Sq km (7.86 per cent) in Mangrove cover area of the country in 2023 as compared to 2013 and net increase of 509.68 Sq.km..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?