SRINAGAR: The Parliament on Wednesday passed a law allowing the government of Jammu and Kashmir to auction and mine its newly-discovered reserves of lithium, among other minerals, thereby increasing the mining of the critical raw material for electric vehicle batteries.
Under the law, lithium, along with other minerals, was removed from a previous list of atomic minerals, which prevented it from being auctioned and mined by private companies.
“Upon removal of these minerals from the list of atomic minerals, exploration and mining of these minerals will be open to the private sector,” stated the government.
As a result, exploration and mining of these minerals are expected to increase significantly in the country,” the statement added.
Pertinently, lithium reserves were discovered earlier this year in the Reasi district of Jammu and Kashmir.
Other minerals that will now be open for mining and auction include titanium, beryl, niobium, and zirconium, as per the statement.
These minerals were previously only allowed to be mined by state-run companies, leading to limited quantities being extracted. The involvement of private companies could be a ‘force multiplier’, the statement noted.
“There is a need to vigorously increase exploration and production of the minerals proposed to be removed from the list of atomic minerals to meet the growing demands of the country,” the statement emphasised.
