Context
The Ministry of Mines recently scrapped the auction for the lithium block in Jammu and Kashmir’s (J&K’s) Reasi district for the second time, following poor response from investors.
About
- The government in 2023 found its first lithium deposits in Jammu and Kashmir with envisioned reserves of 5.9 million metric lots.
- In India, there is also potential to recover lithium from brines of Sambhar and Pachpadra regions in Rajasthan, and Rann of Kutch, Gujarat.
Reasons for poor auction
- The difficulties around extracting and processing lithium from tough rock pegmatite deposits mixed with underdeveloped mineral reporting standards used in tender files played a significant role in deterring investors.
- India’s current resource classification rules, in significant part based on the United Nations Framework Classification for Resources (UNFC) do not offer enough data to determine the economic potential of mining a mineral block.
Suggestions to draw investors
- Most mining companies, stock exchanges, and regulatory bodies the world over adhere to the Committee for Mineral Reserves International Reporting Standards (CRIRSCO) template, which requires the reporting of economically possible reserves with excessive geological self belief shown by research to as a minimum a pre-feasibility level.
- To entice private funding in the sector, India needs to undertake CRIRSCO-aligned world over-compliant mineral reporting requirements.
- The National Committee for Reporting Mineral Resources and Reserves in India (NACRI) has evolved and maintained the Indian Mineral Industry Code (IMIC) due to the fact 2019, which is regarded by CRIRSCO as a compliant code.
Lithium
- Lithium is a chemical element with the image Li and atomic variety 3. It is a gentle, silvery-white alkali metallic.
- Properties: Like all alkali metals, lithium is pretty reactive and flammable, and needs to be saved in vacuum, inert surroundings, or inert liquid which includes purified kerosene or mineral oil.
- Global Reserves
- Chile, Australia, Argentina, Boliby and China comprise maximum of the reserves found to this point globally.
- Argentina, Boliby and Chile, also referred to as the ‘Lithium Triangle’ incorporate 54% of the arena’s Lithium reserves.
- In Argentina the lithium is present in salt pans in the Atacama barren region and neighboring arid zones in the area.
Source: The Indian Express
UPSC Prelims Practice Question
Q. Which one of the following pairs of metals constitutes the lightest metal and the heaviest metal, respectively? (2008)
(a) Lithium and mercury
(b) Lithium and osmium
(c) Aluminium and osmium
(d) Aluminium and mercury
Ans: (b)
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