According to World Economic Forum, the demand for lithium is going to rise to 3 million tonnes (3.3 million tons) by 2030. Moreover, they also share that ‘The three largest producers of lithium are Australia, Chile and China.’
In a recent surprising development, a Geological Survey of India (GSI) found that there is around 5.9 million metric tons of lithium in the Reasi district in the northern union territory of Jammu and Kashmir, also known as J&K.
This survey showed that in a country where it was once believed had no deposits of lithium suddenly contains ‘the second-largest on earth, just as much as Australia, China, Portugal, Zimbabwe, the USA, and Argentina, all put together.
Lithium is now considered one of the world’s most important and critical resources on the planet since regardless of what may seem like a lot, can be considered scarce when placed in perspective of how much the world uses up this natural resource. That’s because it’s used to manufacture rechargeable batteries for smartphones, computers, tablets, electric vehicles, and the like, whose number continues to increase every single year.
Speaking with the Daily Excelsior, a Jammu-based newspaper, the J&K Mining Secretary, Amit Sharma, explained that moving forward, teams must be working around the clock to set up an online action for the various lithium blocks. He also shared that he’s excited to see the investments that will take place to help their otherwise considered “poor region” where they mostly make money from selling handicrafts, horticulture, and tourism is their main source of livelihood.
Sharma said, “Lithium blocks which are a rare thing and a much demanded global mineral for electric batteries which is the future, [sic] shall be explored and e-auctioned so that J&K figures on the global map so far as availability of lithium reserves in the world are concerned.”
Aside from India, there are many other countries that are considered to have the world’s worst air pollution. One of the main solutions for this is to convert their internal combustion auto market vehicles into electric ones in order to lessen harmful emissions.
One major way to do this is through the use of lithium. Like Chile and Argentina, these two nations of around 4 are the ones that have the most mineable lithium reserves so far. And alongside Australia, as mentioned earlier, these three are the ones with the world’s largest amounts of lithium, until now.
Most of the world’s anti-electric vehicles focus on the world’s lack or limited amount of lithium as a major obstacle to mass EV production, especially if companies aren’t attempting to recycle the existing lithium batteries.
But if Indian miners can begin to supply lithium blocks online sooner rather than later, the chance of having faster battery production may be feasible, providing all the different nation’s with much needed lithium to get their electrification dreams into reality. Moreover, more lithium supply also means that the prices can go down, giving more consumers a change at owning now affordable electric vehicles.
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