Jammu and Kashmir will auction its lithium reserves over the next
few weeks, said a government source with close knowledge of the matter.
Bharat, which has been exploring ways to secure supplies of
lithium, a critical raw material used to make electric vehicle batteries, in
February found its first lithium deposits in Jammu and Kashmir with estimated
reserves of 5.9 million tonnes.
“The auction will happen soon and some overseas miners have shown
interest,” the source said, declining to be identified because of the sensitive
nature of discussions.
The Federal Mines Ministry did not immediately reply to a Reuters
email seeking comments.
The source said KABIL, a state-owned joint venture formed to scout
for minerals overseas, was in the “final stages” to secure a few lithium blocks
in Argentina.
Discussions with the Chilean Government were also underway to
secure lithium blocks although talks were still in early stages, the source
added.
KABIL, short for Khanij Bidesh India Ltd, was formed in August 2019
to identify, acquire, develop and process strategic minerals overseas for use
in Bharat.
Bharat, among the world’s top greenhouse gas emitters, has been
pursuing overseas pacts to secure key minerals in resource-rich countries such
as Australia, Argentina and Chile.
Reuters
