1 of 2
$3 Trillion Lithium found in J&K
On 9th February, India 's Ministry of Mines made an announcement that
encouraged some people to invite Elon Musk to the country. They
announced that in the Reasi District of Jammu and Kashmir, almost 6
million tonnes of Lithium was found. Lithium is considered to be White
Gold. From the battery in your smartphone to the electric vehicles
everything that uses Lithium-ion batteries drives up the demand for
Lithium. According to one estimate, if you look at the global lithium
reserves , the country with the highest reserves is Chile at number 1 ,
with 9. 2 million tonne reserves. Followed by Australia ( 2nd ) at 5. 7
million tonnes. The Ecological Survey of India has put it into the G3
category of initial assessment. They 've claimed that more research and
studies are needed to take it up to the G1 or G2 categories. More than
half of the global lithium reserves are in 3 South American countries.
Bolivia has the largest lithium reserves in the category of inferred
resources. There 's a high environmental cost of Lithium mining. Similar
to mining for other resources , lithium mining produces water, soil , and
air pollution too. The process of extracting lithium from its ore is water-
intensive. A lot of water is wasted for this. According to an estimate , to
produce 1 tonne of lithium , 2. 2 million litres is required. The same
amount of water in an Olympic-sized swimming pool.
The Economist magazine used the phrase 'the Dutch disease' to explain
the case of the Netherlands. The Dutch disease means a country
stumbling upon an abundance of natural resources , if the other sectors
of the country are not developed , they would n't be able to compete with
the sector of the natural resource. The other industries could not sustain
their businesses. And they had to suffer losses. The gulf countries
avoided the Dutch disease easily, because there were no other sectors.
Countries like Australia and Norway avoided the disease by diversifying
masterfully among other sectors, such as education and infrastructure.
Gulf countries are paying a lot of attention to this lesson. The wealth
fund of Norway holds more than $ 1 trillion, the largest sovereign wealth
fund in the world. Only 30 % of the GDP of the UAE depends on oil and
gas. Botswana in Africa is one of the positive examples of this. But the
negative examples would be countries like Congo and Zimbabwe where
due to corruption and mismanagement the natural resources have
$3 Trillion Lithium found in J&K
On 9th February, India 's Ministry of Mines made an announcement that
encouraged some people to invite Elon Musk to the country. They
announced that in the Reasi District of Jammu and Kashmir, almost 6
million tonnes of Lithium was found. Lithium is considered to be White
Gold. From the battery in your smartphone to the electric vehicles
everything that uses Lithium-ion batteries drives up the demand for
Lithium. According to one estimate, if you look at the global lithium
reserves , the country with the highest reserves is Chile at number 1 ,
with 9. 2 million tonne reserves. Followed by Australia ( 2nd ) at 5. 7
million tonnes. The Ecological Survey of India has put it into the G3
category of initial assessment. They 've claimed that more research and
studies are needed to take it up to the G1 or G2 categories. More than
half of the global lithium reserves are in 3 South American countries.
Bolivia has the largest lithium reserves in the category of inferred
resources. There 's a high environmental cost of Lithium mining. Similar
to mining for other resources , lithium mining produces water, soil , and
air pollution too. The process of extracting lithium from its ore is water-
intensive. A lot of water is wasted for this. According to an estimate , to
produce 1 tonne of lithium , 2. 2 million litres is required. The same
amount of water in an Olympic-sized swimming pool.
The Economist magazine used the phrase 'the Dutch disease' to explain
the case of the Netherlands. The Dutch disease means a country
stumbling upon an abundance of natural resources , if the other sectors
of the country are not developed , they would n't be able to compete with
the sector of the natural resource. The other industries could not sustain
their businesses. And they had to suffer losses. The gulf countries
avoided the Dutch disease easily, because there were no other sectors.
Countries like Australia and Norway avoided the disease by diversifying
masterfully among other sectors, such as education and infrastructure.
Gulf countries are paying a lot of attention to this lesson. The wealth
fund of Norway holds more than $ 1 trillion, the largest sovereign wealth
fund in the world. Only 30 % of the GDP of the UAE depends on oil and
gas. Botswana in Africa is one of the positive examples of this. But the
negative examples would be countries like Congo and Zimbabwe where
due to corruption and mismanagement the natural resources have
