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India Territory to Auction 5.9 Million Tonne Lithium Reserve

The block of the key electric vehicle battery metal in Jammu and Kashmir is the first known reserve found in the country

China's factory activity rose marginally in September but service sector growth slowed as the economy battled low demand and Covid restrictions, data released on Friday showed.
Employees work on a production line making lithium battery products at a factory in Yichang, Hubei. Reuters file photo.


India’s northern federal territory of Jammu and Kashmir is to auction off a 5.9 million tonne reserve of lithium discovered in the area last month.

Making the announcement in parliament on Monday, the country’s mines minister Pralhad Joshi said: “The exploitation of lithium will depend upon successful auction of the mineral block.”


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The block is the first known reserve found in the country of the key ingredient for electric vehicle (EV) batteries.

Its discovery in India comes at a time when the country is looking to strengthen its supply of critical minerals, including lithium, that will be crucial for furthering its EV plans.

India has so far depended mostly on imports for key EV battery minerals like lithium, nickel and cobalt.


  • Reuters with additional editing by Sean O’Meara


Read more:

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India Finds Huge Lithium Deposits For First Time in Far North

China’s CATL to Help Tap Into Bolivia’s Lithium Riches



Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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