India to auction lithium blocks found in J&K
New Delhi: Jammu and Kashmir, India’s northern federal region, is poised to auction lithium blocks in December 2023, marking a crucial milestone in the country’s aspirations to become self-sufficient in lithium-ion battery manufacture.
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According to reports, Union Mines Secretary Vivek Bharadwaj indicated on Tuesday that India will sell the lithium blocks discovered in Jammu and Kashmir later this year.
He said, “Have recommended transaction advisor to Jammu and Kashmir government for lithium reserves auction.”The finding of major lithium resources in the Jammu and Kashmir area is likely to elevate India to the fifth-largest global lithium reserve.
Lithium blocks
The sale is part of the government’s goal to entice investors and enhance local manufacturing of lithium-ion batteries, which are used in smartphones, smartwatches, laptops, and electric cars.
The lithium reserves were discovered last year, and the auction is likely to draw a large number of bids from both domestic and foreign mining corporations. However, 10,000 villagers in Salal, where the lithium reserves were discovered, have expressed concerns about displacement and the environmental consequences of mining.
Residents have been told that they would be relocated and compensated for their losses by the government. Despite these reservations, the discovery of lithium in Jammu and Kashmir represents an important step toward India’s goal of lowering emissions and reaching net zero by 2070.
The post India all set to auction lithium blocks found in J&K this year appeared first on IndiaFrontline.
