The Indian parliament enacted a law allowing the government to sell off and mine its recently discovered lithium reserves, among other minerals. This will increase the mining of the vital raw material for batteries used in electric vehicle batteries.
India passes law allowing mining of lithium: Legislation removed lithium from a previous list of atomic minerals, along with other minerals, and prohibited private corporations from auctioning and mining it.
As per a government statement, the private sector will have the opportunity for mining and exploration of these minerals once they are remove from the list of atomic minerals.
According to the statement, the country’s exploration and mining of these minerals are expecte to increase significantly.
In the federally managed part of Jammu and Kashmir, lithium reserves were found earlier this year. According to the administration, it expects to uncover further reserves later this year.
According to the announcement, zirconium, titanium, beryl, niobium, and other minerals will soon be available for mining and auction.
Private enterprises’ presence could serve as a “force multiplier” since state-run companies were previously the only ones permitte to mine these minerals, resulting in limited mining activities.
The statement said, “To meet the growing demands of the country, we need to vigorously increase the exploration and production of the minerals propose to be remove from the list of atomic minerals.”