New Delhi, May 2 – The auction of lithium reserves discovered in Jammu and Kashmir’s Reasi district is expected to begin by December, according to Secretary of the Ministry of Mines, Vivek Bharadwaj. Speaking at an industry event on Tuesday, Bharadwaj announced that the Ministry has requested the J&K administration for a transaction advisor to facilitate the auction process. He further mentioned that the ministry has completed consultations with stakeholders regarding the amendment of the Offshore Mining Act, and the amendment will soon be brought before parliament for discussion.
Bharadwaj also discussed the discovery of 5.9 million tonnes of lithium reserves, which were found along with limestone and bauxite during exploration activities in Jammu and Kashmir. Lithium is a non-ferrous metal and is a critical component in the production of EV batteries and other industries. The Geological Survey of India estimates that there could be more lithium resources in J&K, and proposes additional exploration activities in the region.
The central government had announced the discovery of the 5.9 million tonnes of lithium reserves in Jammu and Kashmir in February 2021. The Ministry of Mines has handed over the report to the Government of Union Territory of J&K. The auctioning of these reserves could bring new investment opportunities and economic growth to the region.
