Indian Economy News

Rajasthan's Nagaur has lithium reserves that have a larger capacity than the ones in J&K

Another reserve of the essential mineral has been discovered in Rajasthan's Degana (Nagaur), months after India discovered its first lithium reserve in the country's history in Jammu and Kashmir. According to Rajasthan government authorities quoted by the news wire service Indo-Asian News Services (IANS), the new lithium reserve is significantly larger than the one discovered in Jammu and Kashmir.

A non-ferrous metal called lithium is used to create rechargeable batteries for electric vehicles, mobile laptops, and other devices. According to the Geological Survey of India (GSI) and mining officials, the amount of lithium found in these reserves is sufficient to meet 80% of India's overall needs. The finding of these reserves would lessen India's reliance on China for lithium.

As reported by IANS, with the discovery of lithium reserves in Rajasthan, China’s monopoly will end and like the Gulf countries, the fortunes of Rajasthan will also rise.

The same Renwat hill of Degana and its surroundings, where tungsten material was formerly given to the nation, has been revealed to contain lithium reserves in Rajasthan. In 1914, on the hill of Renwat in Degana, the British discovered tungsten ore.

Before the country gained independence, the tungsten produced here was utilised to construct war material for the British Army during the First World War. Following independence, it was also employed in the manufacture of surgical instruments.

Every battery and chargeable-powered electronic device in the modern home contains Lithium. Because of this, lithium is in extremely high demand all around the world. It goes by the name ‘White Gold’ because of the widespread desire. One tonne of lithium is worth around US$ 70,134 (Rs. 57.36 lakh) on the world market.

The World Bank analysis projects that by 2050, there will be a 500% increase in the demand for lithium metal globally. From this perspective, Rajasthan's massive lithium reserves are tremendously advantageous for the state's economy as well as the overall economy of the nation.

The GSI survey team travelled to Degana under the direction of the Central Government in search of high-grade tungsten resources and found deposits of high-quality tungsten, Lithium, and four other minerals in the G2 stage survey. Lithium deposits may exist in other locations, such as Barmer and Jaisalmer. They stated that the survey crew is accelerating the lithium prospecting activity.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.