In a what can be considered as a big reveal for the mineral industry, the Geological Survey of India (GSI) has found a massive deposit of lithium within the Indian territory.
As per media reports, the Union Ministry of Mines has said that lithium inferred resources (G3) of 5.9 million tons have been found in Salal-Haimana area of Reasi District of Jammu and Kashmir.
More details on the exact quantum and quality of battery-grade lithium, together with the deposit's mining policy and timelines for extraction, are awaited. To secure critical mineral supply chains for emerging industries like that of EVs, the ministry claims to be taking pro-active steps to secure lithium deposit blocks in countries like Australia and Argentina.
Given the rapid emergence of the EV industry globally and the future of automotive and electronics largely dependent on lithium for their battery needs, the latest find of lithium deposits within the country is being considered as a significant development.
Moreover, the country has just kick-started localized cell-level manufacturing of advanced chemistry batteries, leading to speculations that domestically-mined lithium can drastically bring down the cost of batteries and make them cost-competitive in international markets as well.
India is currently import-dependent on critical battery minerals like lithium, cobalt, and nickel.