According to media reports citing state government officials, lithium reserves have been discovered in Rajasthan's Degana, following a similar discovery in Jammu and Kashmir. Officials claim that the lithium reserves in Rajasthan are larger than those found in Jammu and Kashmir and could meet up to 80% of India's demand.
The discovery of lithium reserves in Jammu and Kashmir's Reasi earlier this year marked a significant mineral discovery in India, as only a small reserve had been previously found in Karnataka. The Ministry of Mines has been focusing on rare earth to identify rare metal reserves, as lithium is a crucial component of batteries used in electric vehicles.
The Geological Survey of India (GSI) is not the only agency working on this; a consortium of three Public Sector Undertaking companies, including the National Aluminium Company, Hindustan Copper, and Mineral Exploration Corporation, is also working to provide a platform for research and development, recycling, acquisition, and joint manufacturing of Lithium-ion batteries.
Lithium reserves are concentrated in the "Lithium Triangle" in South America, specifically Argentina, Bolivia, and Chile, where 50% of the deposits are found. China dominates Lithium refining, controlling 75% of the refining globally.
India's goal of increasing electric vehicle penetration by 30% by 2030 is heavily reliant on lithium. Currently, electric vehicles account for only a little over 1% of all vehicle sales in India. Lithium batteries are the only alternative for electric vehicles due to their high power-to-weight ratio, providing a large charge while keeping the vehicle's weight low. They are more energy-efficient and perform better across a wide range of temperatures, making them a safer and more reliable option than other materials.
