New Lithium deposits discovered in Rajasthan after J&K

Lithium reserves, larger than the recently found Jammu and Kashmir reserves, have been discovered in Rajasthan's Degana. This brings optimism as it could potentially fulfil up to 80% of India's lithium requirements. Prior to this, only a minor lithium reserve was found in Karnataka. This substantial find is a result of the renewed focus from the mines ministry on rare earth metals, with Lithium being an essential part of batteries for electric vehicles. A three-company consortium is actively working on R&D of lithium-ion batteries while the government tries to find more such reserves domestically and internationally. Currently, most of the world's lithium is concentrated in the regions of Argentina, Bolivia, and Chile, with China having 75% control over global refining capacity. This recent discovery is significant for India's aim to increase the uptake of electric vehicles by 30% by 2030.

Important Points:

  1. Degana in Rajasthan has a newly discovered lithium reserve, larger than the one in Jammu and Kashmir. It could fulfil up to 80% of India's lithium demands.
  2. This is a landmark discovery for India, after only a minor reserve was found in Karnataka.
  3. The discovery is a result of the mines ministry focusing on rare earth metals.
  4. A consortium of three companies – National Aluminium Company, Hindustan Copper, and Mineral Exploration Corp – is involved in R&D of lithium-ion batteries.
  5. The majority of the world’s lithium reserves are in Argentina, Bolivia, and Chile, with China dominating the lithium refining industry.
  6. This discovery aids in India's target to raise electric vehicle adoption to 30% by 2030.