The Govt of India is likely to auction the newly discovered lithium reserves in Jammu by June this year, reported Mint.
Recently, GSI (Geological Survey of India)
discovered 5.9 million tonnes of
lithium deposits in Jammu's Reasi district making India the seventh-largest holder of lithium reserves.
"[This is a] G-3 level find, which means we are sure of significant reserves and, hence, starting the process to mine this critical non-ferrous metal soon," the report said.
The United Nations Framework Classification (UNFC) classifies the finds in four stages, namely G4 (reconnaissance), G3 (prospecting), G2 (general exploration) and G1 (detailed exploration), the report added.
Currently, China controls 75 per cent of the world's lithium refining. India's lithium comes from Hong Kong, China and the US.