India Set to Auction Newfound Lithium Deposits

India is set to auction a lithium bloc found last month in the country’s north, Mines Minister Joshi said in parliament on Monday. The block, with estimated reserves of 5.9 million tonnes, is the first known lithium reserve in the country. “The exploitation of lithium will depend upon successful auction of the mineral block,” Joshi said, adding the timeline for an auction would be decided by Jammu and Kashmir authorities.

Around 5.9 million tons of the battery metal were found on Feb.9 in India’s north, following deep drilling by the Geological Survey of India (GSI) in the area. It is a core component in batteries, which the electrification of the world depends heavily on.

“The presence of the lithium in the area was known to us since 1999,” government officials said.

The officials added that two geologists had suggested exploring the bauxite rock to assess the quality of the lithium deposits. But there wasn’t enough demand previously to make this economically viable.

However, the boom in electric vehicles changed everything, sending the demand for lithium skywards.

Lithium found in India is technically in the ‘inferred’ category, which means further tests are needed to check its quality. But the officials claim the lithium found in the region is almost three times better than normal grade lithium.

If the country’s hopes are realized, it stands to hold the fifth-largest lithium reserves in the world.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today

Subscribe to Top Insights Today

Subscribe to Executive Newsletter Top Insights Today

The Executive Newsletter -Top Insights Today- puts global business events in perspective through special insights

Join the ranks of global executives and subscribe to Top Insights Today

Top Insights Today covers insights on energy, clean-tech, oil&gas, mining, rare earths, defense, aviation, infrastructure, manufacturing, electrical vehicles, big-tech, finance and politics of business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

U.S. Senators Move Forward with a Bill to Ban Russian Uranium

The U.S. republican Senators have proposed a bill last week to ban Russian imports of uranium in a new measure against Moscow for its invasion of Ukraine. The proposal comes at a time when Biden administration has been weighing to impose sanctions on Russian nuclear power company Rosatom, which is a major supplier of fuel and technology to power plants around the world. 

Russia Terminates Diplomatic Mission to NATO

Russia announced that it would terminate its diplomatic mission to NATO almost two weeks after NATO expelled eight Russian diplomats, accusing them of being Russian intelligence officers. Russian Foreign Minister Sergei Lavrov also said that NATO’s Moscow office would be shut down on November 1 and its staff accreditations would be canceled. 

Aluminum Prices Drop Despite Smelter Shutdowns in Europe

As Europe continues to be gripped by an energy crisis caused by Russia’s invasion of Ukraine, two more European aluminum smelters are shutting down. Talum smelter in Slovenia is set to reduce capacity to 20% and Norway’s Lista plant will halt production on one line. With these latest shutdowns, close to 1 million tonnes of European primary aluminum is now unavailable and many more closures are expected as the power intensive industry is having a hard time coping with soaring energy prices.  

Stay informed

error: This content is protected !!