Jammu and Kashmir fails to get lithium block bids for the second time
COAL & MINING

Jammu and Kashmir fails to get lithium block bids for the second time

India's Jammu and Kashmir has faced another setback in its efforts to auction mining rights for newly discovered lithium reserves, estimated at 5.9 million metric tons. Despite a second attempt to attract bids, no offers were received, indicating on-going challenges in developing these critical mineral resources.

Initially discovered in February 2023, these lithium reserves were first put up for auction in November, but the required minimum of three bids was not met. The block was re-auctioned in March with a deadline of May 14, but still failed to attract interest.

A source, speaking anonymously, mentioned that the block might now be handed over to a government agency for further exploration. This development comes as India focuses on securing critical minerals essential for electric vehicle batteries, both domestically and overseas.

The lack of interest has raised questions about the composition of the lithium deposit in Jammu and Kashmir. Last year, the Indian government identified 30 minerals, including lithium, nickel, titanium, vanadium, and tungsten, as crucial for its clean energy initiatives.

(Source: ET)

India's Jammu and Kashmir has faced another setback in its efforts to auction mining rights for newly discovered lithium reserves, estimated at 5.9 million metric tons. Despite a second attempt to attract bids, no offers were received, indicating on-going challenges in developing these critical mineral resources. Initially discovered in February 2023, these lithium reserves were first put up for auction in November, but the required minimum of three bids was not met. The block was re-auctioned in March with a deadline of May 14, but still failed to attract interest. A source, speaking anonymously, mentioned that the block might now be handed over to a government agency for further exploration. This development comes as India focuses on securing critical minerals essential for electric vehicle batteries, both domestically and overseas. The lack of interest has raised questions about the composition of the lithium deposit in Jammu and Kashmir. Last year, the Indian government identified 30 minerals, including lithium, nickel, titanium, vanadium, and tungsten, as crucial for its clean energy initiatives. (Source: ET)

Next Story
Products

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Next Story
Infrastructure Energy

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

Next Story
Infrastructure Energy

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation  and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India.   The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?