Winning Bizness Desk
Mumbai. There has been very welcoming news on the natural resources front for India. Lithium deposits were found for the first time in the country and its capacity is 59 lakh tonnes. Along with lithium, 5 gold blocks have also been found. This is the first Lithium (G3) site identified by the Geological Survey of India (GSI) in Reyasi district in Jammu and Kashmir. Known as a rare earth element, Lithium is a non-ferrous metal which is used to make mobile-laptop, electric vehicle (EV) and other chargeable batteries. India is currently completely dependent on other countries for lithium.
India world's 4rth importer
India imports a major part of its requirements. Since 2020, India has been ranked fourth in the world in terms of lithium imports. India sources about 80% of its lithium-ion batteries from China. India is working on buying stakes in lithium-rich countries like Argentina, Chile, Australia and Bolivia to become self-sufficient in this sector. In the Rajya Sabha session last year, Union Minister Dr. Jitendra Singh had told that sources of lithium have been found in Mandya district of Karnataka. Teams are working to find out here. In the Rajya Sabha session last year, Union Minister Dr. Jitendra Singh had told that sources of lithium have been found in Mandya district of Karnataka. Teams are working to find out here.
GSI handed over reports of 51 mineral blocks to state governments
During the 62nd CGPB meeting, GSI submitted reports of 51 mineral blocks including Lithium and Gold to the State Governments. Of these, 5 blocks are gold reserves. Besides these, potash, molybdenum are associated with the base metals. These metals have been found in different districts of 11 states. One of the main reasons for waging Russia's war against Ukraine is the immense reserves of white gold ie Lithium hidden under the earth there. It is believed that if this reserve is properly exploited, then Ukraine can become the country with the largest reserve of lithium. The special thing is that most of the lithium reserves are in the eastern Donbas region of Ukraine.
The future of the world's energy needs
Lithium is being considered as the future of the world's energy needs. In the future, the world is moving towards clean energy as an alternative only because of the decreasing availability of fossil fuels i.e. petrol-diesel, coal. Lithium is a silvery white chemical metal, which is very light. In the last few years, lithium is being used to make batteries in smartphones and laptops to electric vehicles. This is the reason why companies around the world are after it. Lithium batteries will be needed to generate energy from solar and wind. Also, the energy stored in lithium batteries can be used to meet a person's energy needs even when the sun isn't shining or the wind isn't blowing. According to an estimate, by 2040, 90% of the world's clean energy will be used in lithium. Scientists have tried sodium, magnesium to jackfruit as alternatives to lithium-ion batteries, but so far they have not found success. It is believed that the demand for lithium can increase up to 51 times in the coming years. Due to the increasing demand, the world is after lithium and its price has increased up to four times in the last one year.
