In a major boost to India's green energy sector, officials in the Rajasthan government have discovered vast lithium reserves in the state. This comes after the Geological Survey of India (GSI) announced the discovery of lithium reserves in Jammu and Kashmir (J&K) earlier this year. According to reports, the newly discovered lithium deposits in Rajasthan are even larger than those found in J&K and could end China's monopoly on the metal, making India self-sufficient in green energy.
Lithium is a non-ferrous metal that is crucial in the production of rechargeable batteries for mobile phones, laptops, electric vehicles, and other devices. It stores chemical energy and converts it into electrical energy, making it an essential component in every chargeable electronic and battery-powered gadget found in homes today.
The lithium reserves found in Rajasthan are said to be so vast that they could meet 80% of India's total demand for the metal. The GSI and mining officials have confirmed the presence of large lithium deposits in the Renvat hill of Degana and the surrounding areas. The accidental discovery of lithium reserves in Rajasthan occurred when GSI explored the area for high-grade tungsten minerals.
India, which is heavily dependent on China for its lithium imports, with 53.8% of its total shipments coming from China, is looking to reduce its reliance on imports and boost domestic production of lithium. The demand for lithium is set to increase significantly in the coming decades, with a projected 500% rise in global demand by 2050, according to the World Bank.
Currently, the world's largest lithium reserves are in Bolivia, followed by Argentina, Chile, and America. However, China, with 5.1 million tonnes of reserves, dominates the global market. The discovery of vast lithium reserves in Rajasthan and Jammu and Kashmir could change the global supply chain of the metal and provide India with a strategic advantage in the green energy sector.
The GSI survey team is expediting exploration work to facilitate mining auctions as soon as possible. The Government of India is set to auction the 5.9 million tons of lithium reserves found in Jammu and Kashmir's Reasi district in December this year. With the discovery of vast lithium reserves in Rajasthan, India's green energy sector is set to get a significant boost and reduce its dependence on imports.
