Delhi, India, February 10, 2023: The Mines Ministry of India has announced a major breakthrough with the discovery of 5.9 million metric tons of lithium reserves in Jammu and Kashmir.
This marks the first time that the country has discovered lithium deposits.
The Geological Survey of India (GSI) identified the resources in the Salal-Haimana area of the Reasi district of Jammu and Kashmir, among other minerals such as gold and other commodities including potash, molybdenum, and base metals, spread across 11 states. The blocks were prepared based on GSI’s work from 2018-19 to present day.
This discovery of lithium is significant for India as the metal is a crucial component in the production of electric vehicle (EV) batteries.
With the government providing incentives worth $3.4 billion to speed up the country’s adoption of EVs, the local manufacturing of batteries could make the end product more affordable for the mass market and position India as a potential exporter, tapping into the growing global demand for the metal.
The discovery is also good news for Indian billionaires like Mukesh Ambani, whose company Reliance Industries is building an EV battery facility as part of a $76 billion push into clean energy.
However, India still has a long way to go as it only has a fraction of the raw materials needed to meet the domestic demand for lithium-ion batteries, let alone produce on a global scale.
