“Have recommended transaction advisor to Jammu and Kashmir government for lithium reserves auction” mining secretary
India is expected to auction lithium blocks that were found at the beginning of this year in the Salal-Haimana area of Reasi district, Jammu & Kashmir. This news has been reported by Reuters to whom Vivek Bharadwaj mining secretary said “have recommended transaction advisor to Jammu and Kashmir government for lithium reserves auction”. The Indian government is looking towards boosting electric vehicle manufacturing in India and the 5.9 million tonnes of lithium blocks discovery in Jammu and Kashmir was a great fortune. Lithium being a nonferrous metal is a key component in EV batteries.
India became the seventh largest resource of lithium globally after the discovery of such a massive amount of lithium in Jammu and Kashmir which somehow brought a ray of hope for the lithium-ion battery manufacturer in India. Currently, India is dependent on China and other countries for the import of Lithium which is vulnerable to dollar Rupert fluctuation, and supply chain disruption. Aditya Vikram, managing director of Renon India, a lithium-ion battery manufacturer from Gujrat in a statement made to Quartz said “Lithium batteries comprise around 100-200 lithium cells for electric two-wheeler applications. Lithium cells are composed of elements like lithium, cobalt, manganese, nickel, copper, graphite, and others. The advantage the domestic market can give us is a stable supply independent of evolving geopolitics”.
Homegrown lithium-ion battery manufacturing companies to EV companies all will experience the advantage of this lithium reserve and the news of the auction shows the development in the step of its extraction.
