India’s lithium deposit discovery could help it reach the goal of electrifying vehicles by the of the decade. (Image Credit: joenomias/pixabay)
On a global scale, lithium is in high demand due to its role as a key ingredient in batteries powering everyday electronics. Australia, China, and Chile are home to most of the world’s lithium mining. The Geological Survey of India recently discovered 5.9 million tonnes of lithium in the Salal-Haimana region of the Reasi District of Jammu & Kashmir. India becomes the 2nd country in the world with the largest lithium reserves, while Chile retains the top spot. Most of India’s lithium comes from China, one of the world’s largest lithium processing hotspots.
According to experts, this lithium reserve discovery could help India jumpstart its EV goals and achieve 30% vehicle electrification by the decade’s end. Meanwhile, Bolivia chose China to invest $1 billion to develop lithium deposits in the Latin American nation for lithium battery production. Chile, Bolivia, and Argentina form the “lithium triangle” that’s home to almost three-quarters of the world’s lithium.
With its huge lithium reserves, India is set to make a big splash in lithium processing and battery manufacturing, but a geopolitical shakeup needs more time. Closing in on mining hotspots requires another two rounds of geological surveys. Even then, developing lithium mines for battery production could take years. Not only that, but the government must also consider those who reside in that area by making socio-economic agreements.
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