The government is set to auction lithium reserves in Jammu & Kashmir in up coming weeks. India has been investigating ways to secure lithium supplies, a crucial raw material for manufacturing electric vehicle batteries. The country discovered its first lithium deposits in Jammu and Kashmir in February, with an estimated reserve of 5.9 million tonnes.
An auction for these reserves is expected to take place soon, and some foreign miners have expressed interest. KABIL, a state-owned joint venture established to search for minerals abroad, is reportedly in the “final stages” of securing several lithium blocks in Argentina. The source also mentioned that discussions with the Chilean government are underway to secure lithium blocks, although these talks are still in their early stages.
KABIL, which stands for Khanij Bidesh India Ltd, was established in August 2019. Its mission is to identify, acquire, develop, and process strategic minerals overseas for use in India. India is one of the world’s top greenhouse gas emitters and has been seeking international agreements to secure key minerals from resource-rich countries such as Australia, Argentina, and Chile.
