The last week ‘The Geological Survey Of India’ found a 5.9 million tons Lithium reserve in Salal- Haimana area in Jammu & Kashmir. This reserve is not only beneficial for the EV sector but also for the whole nation in many different ways. We want to discuss some of the major elements of how this mine is a treasure for our country.
India’s reliance on the import of lithium for manufacturing electronic devices and electric vehicles can reduce significantly with this newly found 5.9 million ton of lithium metal. Majorly India imports its lithium resources from Australia and South Africa. Lithium, sometimes known as “White Gold,” is a crucial ore used in producing rechargeable batteries that power various devices like smartphones, laptops, and even the batteries of electric vehicles.
BOOSTS EV INDUSTRY AND PUSH FOR INDIA’s CLEAN ENERGY TARGETS
Batteries are the major element in all-electric vehicles. Without batteries, electric vehicles are not possible, and without lithium, electric vehicle battery is a risk-taking process (making and using). This treasure will reduce the burden on the imports of lithium from other countries. Manufacturing of electric vehicles becomes way less costly and can lead to a virtuous cycle of a sustainable EV manufacturing ecosystem. The quality of the lithium ore in India is an impactful sign for the development of better-performing batteries and to produce export quality batteries for the rest of the world. This makes India more EV-sustainable and self-reliant. Not only is the EV industry the newly found lithium source going to change the fate of the renewable energy storage systems in India (ESS). This lays a red carpet for the goal of India to reduce carbon emissions.
EMPLOYMENT OPPORTUNITIES FOR COMMUNITIES-
Mining and extraction is a labor-consuming process that requires labor in large numbers. This benefits the local and state communities and generates new employment opportunities. Implementing the right plans of action, can bring a change in the economy of the union territory Jammu and Kashmir and can also make remarkable changes in the whole country’s economy.
REDUCE IN THE LITHIUM IMPORTS-
The reduction in imports not only will affect foreign exchange but also strengthens Indian energy’s security. With this abundant resource, India can also focus on exporting lithium to other countries and diversify its concentration on the world’s suppliers of lithium.
ECONOMY BOOST-
All the nation’s discoveries like new technologies, crude oil resources, etc. always have a positive impact on the nation’s economy. So does the lithium resource found recently. Thie treasure reduces the burden on India’s import bill and trade deficit which created a significant impact on the Indian economy. The lithium ore mines generate new employment opportunities in the state and local communities, which helps to boost the GDP of the overall state and country. Manufacturers of lithium-ion batteries have the potential to become a significant contributor to the Indian economy and boost the growth of the manufacturing sector. Lithium-ion battery producers have the ability to significantly contribute to the Indian economy and accelerate the expansion of the manufacturing sector.
To conclude, the discovery of lithium reserves in J&K is surely a thrilling breakthrough, although exploration is still in its early phases. To verify the anticipated resources and decide whether commercial development is feasible, more exploration is required. The extraction of lithium from hard rock spodumene ore is also a difficult, expensive, and energy-intensive process, and India currently lacks the infrastructure and processing capacity needed.