India Finds Its Own Lithium Reserves in J&K; Here’s How It Stacks Up Against Other Countries

The lithium-ion battery pack, one of the costliest key parts of an EV, should get more affordable soon thanks to local raw materials 

(Image used for representational purposes)

• Lithium reserves found in India for the first time

• It is in Jammu and Kashmir, with an estimated value of  5.9 million tonnes. 

• With 9.3 million tones, Chile is the world leader in lithium reserves, followed by Australia at 6.2 million tones. 

• India is now one of the countries with large reserves of the non-ferrous metal. 

Lithium reserves have been found for the first time in India, in Salal-Haimana area of the Reasi district of Jammu and Kashmir. 5.9 million tonnes of lithium has been discovered along with 51 mineral blocks of lithium and gold. 

This discovery is a proud moment for us Indians. Currently, Chile has the largest lithium reserves of 9.3 million tonnes, followed by Australia with 6.2 million tonnes. With India at 5.9 million tonnes, it is now one of the countries in the world with the largest lithium reserves. 

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(figures as per U.S Geological Survey for 2022)

However, the production and refining in itself is a complicated task and requires cutting-edge technology. For instance, Australia’s mine production stands at 0.6 million tonnes, but Chile, despite having more reserves, produces just 0.39 million tonnes. Similarly, the production from its reserves remains to be seen for India. 

The electric vehicles produced or assembled in India use imported lithium-ion batteries, thus increasing their overall cost. Now that the country has its own reserves, the local manufacturing of lithium-ion batteries should see a significant boost. 

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The end benefit for the buyers would come in the form of electric cars getting more affordable, since the battery pack is one of the costliest components of an EV. For instance, the battery pack of a Nexon EV costs around Rs 7 lakh, while the SUV itself is priced at around Rs 15 lakh.