Possible boost for electromobility. Rare earths also available in the country.
For several years, India has been increasingly exploring its domestic mineral resources in order to reduce its dependence on imports of critical raw materials. For example, the country sources lithium for battery production from Australia and Argentina, but that could change in the future. As the ministry responsible for mining announced on Thursday, significant lithium deposits have been found on the subcontinent for the first time. This could give a boost to electric mobility in India, the BBC quotes industry experts as saying. The size of the deposits in the north of the country is estimated at around six million tons.
India also has deposits of rare earths, which are necessary for the construction of electric vehicles; the U.S. Geological Survey estimates reserves of almost seven million tons. Mining is already taking place, but on a comparatively small scale. Last fall, industry urged the government to invest more in the sector to counter dependence on rare earth imports from China. The Geological Survey of India is planning a total of 115 projects for the 2023-24 season to capture strategic and critical minerals.
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