• UGI USER
  • Jan 02, 2024
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LITHIUM EXPLORATION AND DEVELOPMENT

Why in the News?

  • India, represented by the Mines Ministry and state-owned Khanij Bidesh India Ltd (KABIL), is in the process of finalizing a lithium deal with Argentina.
  • A draft exploration and development agreement has been initiated with CA-MYEN, an Argentine miner, for the potential acquisition and development of five lithium blocks.
Source: Financial Post

Global Lithium Scenario:

  • Lithium Reserves: Chile > Australia > Argentina (Countries with largest reserves).
  • Latin American nations, primarily Chile and Argentina, contribute 30-35% of the world’s lithium supplies.
  • Chile, holding 11% of global lithium reserves, provides 26% of global requirements, while Argentina, with nearly a fifth of reserves, supplies approximately 6%.
  • Chile ,Argentina and Bolivia together form the Lithium triangle.
  • Australia, another major global producer.

About Lithium :

  • Lithium (Li) is a metal, known colloquially as ‘White gold’ for its extensive use in rechargeable batteries, is a soft, silvery-white metal.
  • Applications:
  • Vital component in electrochemical cells powering batteries for Electric Vehicles (EVs), laptops, mobile devices, etc.
  • Utilized in thermonuclear reactions.
  • Employed in the production of various alloys.
Lithium Reserves in India:

·   Currently, most domestic lithium requirements are met through imports, amounting to an import bill of approximately ₹24,000 crore.

·   Preliminary surveys indicate an estimated 14,100 tonnes of lithium reserves in a surveyed area in Southern Karnataka’s Mandya district.

·   Other potential sites include mica belts in Rajasthan, Bihar, Andhra Pradesh, pegmatite belts in Odisha and Chhattisgarh, and the Rann of Kutch in Gujarat.