Rajasthan's Lithium Boom: New Reserves Unearthed After J-K Find

India: State officials have announced the discovery of Lithium reserves in Rajasthan's Degana, which are believed to be even larger than those found in Jammu and Kashmir earlier this year. The officials suggest that these reserves have the potential to meet up to 80% of India's demand for Lithium, and this is the first time such reserves have been identified in this region.

In a significant breakthrough, India has discovered a substantial reserve of minerals, owing to the mines ministry's renewed focus on rare earth. This marks a significant milestone as previously; a small reserve had only been found in Karnataka. Given that Lithium is a crucial component in batteries powering electric vehicles, the government is exploring rare metal reserves both domestically and internationally.

A group of three Public-sector Undertaking companies - National Aluminium Company, Hindustan Copper, and Mineral Exploration Corp - are collaborating to establish a research and development platform for the recycling, procurement, and collective production of Lithium-ion batteries. This effort is in addition to the on-going work by GSI in the same field. About 50% of the world's Lithium reserves are in the Lithium triangle in South America, comprising Bolivia, Argentina, and Chile. China is the global leader in Lithium refining with 75% of the market share.

India aims to increase the penetration of electric vehicles by 30% by 2030, with Lithium-ion batteries playing a vital role in achieving this goal. Currently, electric vehicle sales only make up a little more than 1% of all vehicle sales in the country. Lithium batteries are the only feasible alternative for powering electric vehicles due to their high power-to-weight ratio, which enables them to offer a substantial charge while keeping the vehicle's curb weight low. They are also more energy-efficient and perform better at a wide range of temperatures, making them a safer and more reliable option than other materials.