Govt Set To Auction J&K’s Lithium Reserves Soon, Say Reports
Jammu and Kashmir will auction off its lithium reserves over the next weeks, according to media reports.
It may be recalled that in February this year, India discovered its first lithium deposits, with an estimated reserve of 5.9 million tonnes, in Jammu and Kashmir.
India has been looking into ways to secure supply of lithium, a vital raw material used to create electric car batteries.
According to Reuters reports quoting government sources, the auction will happen soon and some overseas miners have shown interest.
The "final stages" of securing a few lithium blocks in Argentina were apparently being completed by KABIL, a state-owned joint company established to hunt for minerals abroad. To get lithium blocks, discussions with the Chilean government were also in progress, albeit they were still in the early stages.
KABIL, short for Khanij Bidesh India, was formed in August 2019 to identify, acquire, develop and process strategic minerals overseas for use in India. India, among the world's top greenhouse gas emitters, has been pursuing overseas pacts to secure key minerals in resource-rich countries such as Australia, Argentina and Chile.
