https://www.miningweekly.com

India wants to open up for lithium mining in batteries quest

28th July 2022

By: Bloomberg

  

Font size: - +

India is seeking to change laws to allow private miners to extract lithium, the key ingredient for batteries used for electric vehicles and energy storage, as the nation aims to be more self-sufficient in green technologies.

Prime Minister Narendra Modi’s government wants lawmakers’ approval for amendments to existing policies in the current session of parliament, according to people familiar with the plans. Eight minerals, including lithium, beryllium and zirconium will be removed from a restricted list that currently prohibits production by private companies.

The changes would allow the government to auction permits to exploit lithium reserves, the people said, asking not to be named as the matter is not yet public. They are also aimed at reducing India’s dependence on imports for some key minerals, and to put the country in a better position to compete in the lucrative battery supply chain, according to the people.

A mines ministry spokesperson didn’t immediately respond to a request for comment.

India wants to add local manufacturing of a swathe of zero-emissions technologies as it chases a target of becoming carbon neutral by 2070 and to capture opportunities from the global transition to cleaner energy. The nation has pledged to build 500 GW of clean power capacity by 2030, and the deployment of huge volumes of battery storage is seen as vital to enable round-the-clock use of renewables.

Government agencies have been exploring for lithium and discovered a small resource at a site in southern Karnataka state, according to the mines ministry. Still, to produce lithium at any meaningful scale and reduce reliance on imports, India would need to find and develop further deposits.

Australia and Chile currently dominate raw materials output, while China in the world’s largest refiner.

India’s imports of lithium-ion batteries jumped 54% from a year earlier to $1.83-billion in the year ended March, trade ministry data show. Almost 87% of the purchases came from China and Hong Kong, despite India’s efforts to shun imports from its northern neighbor

Besides effort to boost local output, the country is also scouting for lithium and cobalt assets overseas. A joint venture has been formed with three state companies -- National Aluminium, Hindustan Copper and Mineral Exploration -- to acquire mines overseas.

Edited by Bloomberg

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION