Srinagar/New Delhi: The Government of India announced that the lithium auction has yet to be successful and mining and production will commence only after the block is successfully auctioned.
In response to a parliamentary question, Minister of Coal and Mines G.K. Reddy noted that the Geological Survey of India (GSI) has estimated an inferred resource (G3) of 5.9 million tonnes of lithium ore, with an average grade of 583 ppm and a cutoff of Li ≥ 200 ppm, located in the bauxite deposits of the Salal and Haimna areas in Reasi district.
The minister explained that the lithium block in Jammu & Kashmir was offered for auction, but the attempt did not succeed.
"Mining and production will only begin once the block is successfully auctioned," he said.
Reddy also mentioned that the mining cost per tonne will be determined by the lessee. “The market price of lithium carbonate in the international market is approximately USD 15,000 per tonne,” he added.