On, February 9, India found its massive lithium reserve in Jammu and Kashmir. A reserve totalling 5.9 million tonnes was discovered in the Reasi district of Jammu and Kashmir by the Geological Survey of India (GSI). Lithium is a key component in batteries, electric vehicles and other renewable energy solutions.

This was not the first time when lithium reserves were found in India. In 2021, 1,600 tonnes of lithium were also discovered in Karnataka, but that was nowhere close to the significant reserves found in Jammu and Kashmir.&nbsp;

To understand what this discovery could mean for India and how can it change India’s fate, WION talked to some experts about its significance in India’s efforts towards clean energy.&nbsp;

Lithium, the ‘white gold’ can transform the fate of the world

Australia, Chile, and China are the three biggest producers and exporters of lithium, which has the power to not only change the fate of those who control it but also the fate of the world. It is one of the most sought-after minerals globally and is often called ‘white gold’. Lithium has got the status of gold because of its usability and demand in the global energy market.&nbsp;

“Lithium is an essential growth driver for the global energy transition," said Ravi Karkara,&nbsp;Global Sustainability Champion.

“The lithium market is undergoing a transformation. Demand for the metal has risen sharply in recent years, and investors are stepping into the market at a time when supply has not kept pace with rising demand,” said Karkara, co-founder of global initiatives like Un-Plastic Day and Green Hydrogen Day.&nbsp;

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/mauritius-minister-thanks-india-on-chagos-islands-confirms-us-base-in-diego-garcia-will-remain-561634">Mauritius minister thanks India on Chagos Islands, confirms US base in Diego Garcia will remain</a>

Commodities trading giant Trafigura estimates demand will hit 800,000 tonnes of lithium carbonate equivalent this year - overshooting supply by 140,000 tonnes - and sees demand rising by a further 200,000 to 250,000 tonnes annually through 2025, Katara noted. "The traders are stepping into the lithium market at a time of dramatic transformation.”

Lithium is not a new mineral that is now being suddenly flushed into the global markets. For years, it has been used by niche manufacturers like pharmaceuticals and industrial lubricants, but now as the world is shifting towards green energy, a whole market has been opened for Lithium.&nbsp;

Karkara said, “Now as carmakers have taken over as the biggest buyers (and consumers), miners have been shifting towards a shorter-term pricing model that better reflects the mismatch between demand and supply.”&nbsp;

An essential growth driver for Lithium will be its use for batteries in electric vehicles (EVs). “Lithium-ion batteries are the critical pillar in a fossil fuel-free economy, and their usage in electric vehicles and stationary energy storage has grown significantly in recent years thanks to technological advancements and considerable price declines”, stressed Karkara.&nbsp;

What can be the best use of this massive Lithium discovery for India’s growth?

Even after making progress in several aspects of sustainable development, the world is still not on the right track. We are far from achieving the seventh of the Sustainable Development Goals (SDGs) that ensure access to affordable, reliable, sustainable and modern energy by 2030.

Globally, 733 million people still have no access to electricity, and 2.4 billion people are still cooking their food using fuels that are dangerous for their health and environment.&nbsp;

Looking at all these factors, India also announced its goal in October 2021 to achieve net zero greenhouse gas emissions by 2070. And to achieve this goal, India would require reducing its greenhouse gas emissions significantly, in which Lithium can play a crucial role.&nbsp;

Watch |&nbsp;India discovers 5.9 million tonnes of lithium deposits

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Pointing to India’s growing population and economy, &nbsp;Karkara said, “India's announcement will help make renewable energy more affordable for consumers, which will increase its attractiveness as an alternative source of power. It will also help India reduce its carbon footprint on the international stage, which has been one of its biggest challenges in recent years due to its large population and growing economy.”

Erik Solheim, former executive director of the United Nations Environment Programme (UNEP), said that this can be an opportunity for India as “Lithium is a critical component in electric batteries, for cars and other uses. When the entire global car industry is turning electric over the next few years, there will be a huge demand for lithium.”

This discovery could be a big asset for India and might “be a very important source of raw materials for the rapidly developing electric vehicle industry in India led by companies like Ola, Tata and Mahindra”, noted Solheim.

Also Read |&nbsp;<a href="https://www.wionews.com/india-news/gulmarg-ski-resort-witnesses-huge-jump-in-number-of-female-ski-instructors-561474">Gulmarg Ski resort witnesses huge jump in number of female ski instructors</a>

“Production of electric batteries and electric vehicles is a big opportunity to create jobs and prosperity in India. The best way of utilising lithium is definitely to build a domestic electric battery industry. The value of the battery is 40-50% of the value of the electric vehicle so it’s a big deal that makes the batteries.”

According to &nbsp;Karkara, EVs have so far served the richer segment of global consumers; the ones who could afford to buy this expensive mode of transportation and find EVs an ideal choice for curbing climate change.&nbsp;

The mass population of India is still far from using EVs in their daily life and that is because of the price of these vehicles. As most of the Lithium is exported from other countries, it becomes difficult to bring down the price range to nominal levels.&nbsp;

Watch |&nbsp;WION Climate Tracker: Lithium batteries reveal dark side of our electric fortune

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&nbsp;But with the latest Lithium found in J&amp;K, “India has taken the centre stage, this will open up a specialized industry, creating many jobs and lead to development in Jammu”, said &nbsp;Karkara.&nbsp;

The best way to utilise this vital reserve would be to use Lithium in manufacturing batteries, as battery technology plays a pivotal role in enabling sustainable transport.&nbsp;

Karkara recommended that the Government of India should not engage in the raw export of Lithium, but rather use the material to become the new global capital of Lithium-ion batteries.&nbsp;

The discovery of the massive reserve in India sparks new hope for the country, which has largely remained import-dependent on the mineral.&nbsp;

Besides EVs, lithium is also used in the medical industry, electronics that power our phones, solar panels, and other renewable technologies required for the transition to clean energy. This discovery may usher India into a new era.

&nbsp;

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On, February 9, India found its massive lithium reserve in Jammu and Kashmir. A reserve totalling 5.9 million tonnes was discovered in the Reasi district of Jammu and Kashmir by the Geological Survey of India (GSI).

On, February 9, India found its massive lithium reserve in Jammu and Kashmir. A reserve totalling 5.9 million tonnes was discovered in the Reasi district of Jammu and Kashmir by the Geological Survey of India (GSI). Lithium is a key component in batteries, electric vehicles and other renewable energy solutions. This was not the first time when lithium reserves were found in India. In 2021, 1,600 tonnes of lithium were also discovered in Karnataka, but that was nowhere close to the significant reserves found in Jammu and Kashmir. To understand what this discovery could mean for India and how can it change India’s fate, WION talked to some experts about its significance in India’s efforts towards clean energy. Lithium, the ‘white gold’ can transform the fate of the world Australia, Chile, and China are the three biggest producers and exporters of lithium, which has the power to not only change the fate of those who control it but also the fate of the world. It is one of the most sought-after minerals globally and is often called ‘white gold’. Lithium has got the status of gold because of its usability and demand in the global energy market. “Lithium is an essential growth driver for the global energy transition," said Ravi Karkara, Global Sustainability Champion. “The lithium market is undergoing a transformation. Demand for the metal has risen sharply in recent years, and investors are stepping into the market at a time when supply has not kept pace with rising demand,” said Karkara, co-founder of global initiatives like Un-Plastic Day and Green Hydrogen Day. Also Read | Mauritius minister thanks India on Chagos Islands, confirms US base in Diego Garcia will remain Commodities trading giant Trafigura estimates demand will hit 800,000 tonnes of lithium carbonate equivalent this year - overshooting supply by 140,000 tonnes - and sees demand rising by a further 200,000 to 250,000 tonnes annually through 2025, Katara noted. "The traders are stepping into the lithium market at a time of dramatic transformation.” Lithium is not a new mineral that is now being suddenly flushed into the global markets. For years, it has been used by niche manufacturers like pharmaceuticals and industrial lubricants, but now as the world is shifting towards green energy, a whole market has been opened for Lithium. Karkara said, “Now as carmakers have taken over as the biggest buyers (and consumers), miners have been shifting towards a shorter-term pricing model that better reflects the mismatch between demand and supply.” An essential growth driver for Lithium will be its use for batteries in electric vehicles (EVs). “Lithium-ion batteries are the critical pillar in a fossil fuel-free economy, and their usage in electric vehicles and stationary energy storage has grown significantly in recent years thanks to technological advancements and considerable price declines”, stressed Karkara. What can be the best use of this massive Lithium discovery for India’s growth? Even after making progress in several aspects of sustainable development, the world is still not on the right track. We are far from achieving the seventh of the Sustainable Development Goals (SDGs) that ensure access to affordable, reliable, sustainable and modern energy by 2030. Globally, 733 million people still have no access to electricity, and 2.4 billion people are still cooking their food using fuels that are dangerous for their health and environment. Looking at all these factors, India also announced its goal in October 2021 to achieve net zero greenhouse gas emissions by 2070. And to achieve this goal, India would require reducing its greenhouse gas emissions significantly, in which Lithium can play a crucial role. Watch | India discovers 5.9 million tonnes of lithium deposits × Pointing to India’s growing population and economy, Karkara said, “India's announcement will help make renewable energy more affordable for consumers, which will increase its attractiveness as an alternative source of power. It will also help India reduce its carbon footprint on the international stage, which has been one of its biggest challenges in recent years due to its large population and growing economy.” Erik Solheim, former executive director of the United Nations Environment Programme (UNEP), said that this can be an opportunity for India as “Lithium is a critical component in electric batteries, for cars and other uses. When the entire global car industry is turning electric over the next few years, there will be a huge demand for lithium.” This discovery could be a big asset for India and might “be a very important source of raw materials for the rapidly developing electric vehicle industry in India led by companies like Ola, Tata and Mahindra”, noted Solheim. Also Read | Gulmarg Ski resort witnesses huge jump in number of female ski instructors “Production of electric batteries and electric vehicles is a big opportunity to create jobs and prosperity in India. The best way of utilising lithium is definitely to build a domestic electric battery industry. The value of the battery is 40-50% of the value of the electric vehicle so it’s a big deal that makes the batteries.” According to Karkara, EVs have so far served the richer segment of global consumers; the ones who could afford to buy this expensive mode of transportation and find EVs an ideal choice for curbing climate change. The mass population of India is still far from using EVs in their daily life and that is because of the price of these vehicles. As most of the Lithium is exported from other countries, it becomes difficult to bring down the price range to nominal levels. Watch | WION Climate Tracker: Lithium batteries reveal dark side of our electric fortune × But with the latest Lithium found in J&K, “India has taken the centre stage, this will open up a specialized industry, creating many jobs and lead to development in Jammu”, said Karkara. The best way to utilise this vital reserve would be to use Lithium in manufacturing batteries, as battery technology plays a pivotal role in enabling sustainable transport. Karkara recommended that the Government of India should not engage in the raw export of Lithium, but rather use the material to become the new global capital of Lithium-ion batteries. The discovery of the massive reserve in India sparks new hope for the country, which has largely remained import-dependent on the mineral. Besides EVs, lithium is also used in the medical industry, electronics that power our phones, solar panels, and other renewable technologies required for the transition to clean energy. This discovery may usher India into a new era. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Experts say India's huge lithium discovery can be a boon for world's 'white gold' quest, here's how

India's dependence on the import of EV batteries, laptops, mobile phones, and other electronic devices would be significantly reduced since the discovery of a 5.9 million tonnes lithium reserve in Jammu and Kashmir's Reasi District. The reserve can help meet India's expanding EV industry's lithium demand.&nbsp;Since the commercialisation of lithium-ion batteries in the 1990s, significant technological advancements have put lithium at the forefront, according to Austrade, The Australian Trade and Investment Commission.&nbsp;Australian government's trade, investment and education promotion agency.&nbsp;It is the driving force behind the revolution in smartphones, tablets, and other smart devices.

<h2>What is lithium used for?</h2>

Lithium is an extremely reactive, alkaline, and light metal. It is mostly employed in the manufacturing&nbsp;of ceramics and glassware, greases, medicinal compounds, air conditioners, and aluminium, among other things. Due to its maximum energy storage capacity per kilogramme,&nbsp;It is an ideal option for electric vehicle manufacturers like Tesla due to its enormous energy storage capacity and incredibly low weight.

<h2>India's 'white gold'</h2>

The Geological Survey of India, which also evaluates India's mineral resources, discovered 5.9 million tonnes of lithium resources - a first for the nation - in the Salal-Haimana region of Jammu and Kashmir's Reasi district, according to a report released on February 9 by the Indian Ministry of Mines. During the 62nd Central Geological Programming Board meeting that day, the Ministry of Mines presented a report on this, 15 additional resource-bearing geological reports, and 35 geological memoranda to the relevant state governments.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/india-discovers-huge-deposits-of-lithium-critical-for-electric-mobility-560432">India discovers huge deposits of Lithium critical for electric mobility</a>

“For the first time, lithium reserves have been discovered and that too in Jammu and Kashmir,” the news agency&nbsp;PTI&nbsp;quoted mines secretary Vivek Bharadwaj as saying.

The soft, shining grey metal is one that is crucial in the modern world. Among other things, it's utilised to construct the essential batteries for electric vehicles. Hence, "white gold" was given. If India had its own lithium reserves, it wouldn't need to rely as heavily on imports as it does now to meet its demands. Given the push for electric vehicles, India's needs for lithium are also probably going to increase, said Bharadwaj.&nbsp;

<div class="videoWrapper trancodeVideo">&nbsp;</div>

Reserves of ithium are also rare. According to Rishabh Jain, senior programme director for the Council on Energy, Environment, and Water, who spoke to the Wire,&nbsp;there are 98 million tonnes of lithium in the world.&nbsp;&nbsp;India has now discovered around 5.5 per cent of these resources.

<h2>India's Lithium reserve vs Lithium reserves in other countries</h2>

The lithium deposit in Jammu and Kashmir may contain a significant amount of lithium, however it is currently insufficient to compare to the top lithium reserves in the world. Australia has 6.3 million tonnes of lithium, Bolivia has 21 million tonnes, and Argentina has 17 million tonnes, as reported by the Mint.&nbsp;China, however, is the source of 4.5 million tonnes of the light metal. In 2020, China will be the third-largest provider of lithium in the world, owning a total of 7.9% of the world's lithium reserves.

Since South America is a particularly rich supply of the metal, the three nations of Bolivia, Chile, and Argentina are collectively referred to as the "Lithium Triangle."

A US-based committee claims that between 2018 and 2020, China spent $16 billion on mining operations abroad to explore for lithium. It also made investments in the "lithium triangle" region of South America.

Furthermore, China is the world's leader in the manufacture of electric vehicles. According to a research by the Centre for Strategic and International Studies, mostly because of its early investment in Australia's main mining output activities.

Also watch |&nbsp;Gravitas: India discovers 5.9 million tonnes of lithium deposits

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Beijing currently has 55% of the chemical lithium supply needed for battery-powered electric vehicles. It is currently increasing its power in the lithium triangle as well. The principal owner of the Cauchar-Olaroz facility in Argentina, thought to be one of the world's top lithium producing mines, is China's Ganfeng Lithium.

Additionally, it is one of the largest EV battery suppliers to India. Given India's fraught relationship with the dragon over territorial disputes, this is a matter of concern.

Owning more of these lithium sources and strengthening India's position in foreign lithium mines are crucial if India is to become self-sufficient in the field of EV production and stop depending on China for EV battery supplies.

<h2>Amount of lithium in&nbsp;EV batteries</h2>

EV batteries contain a few grammes of lithium, which is best described as being comparable to half a teaspoon of sugar. 5,000 battery cells and 10 kg of lithium are both potential requirements for an EV. 90 electric cars' worth of demand can be supplied by one tonne of lithium, as reported by Money Control.&nbsp;

These batteries are lithium-ion and contain numerous distinct cells. One million electric automobiles require around 60,000 tonnes of lithium carbonate equivalent.

Elon Musk, the owner of Tesla, stated in a recent tweet that 30 million electric cars must be created by 2027, which would require 1.8 million tonnes of lithium carbonate equivalent. This would require a 473 percent increase in output of lithium carbon equivalent to 1.8 million tonnes from levels in 2019.

By 2030, Tesla itself plans to boost its capacity for producing batteries by at least 50 times, to three terawatt hours. This would take $7 billion (Rs 51,025 crore) in investments, but that amount is significantly less when taking batteries and auto production into account.

Rechargeable lithium-ion batteries are favoured and accounted for 54 per cent&nbsp;of the metal's demand in 2019. In addition to having a higher energy density and a longer life cycle with less maintenance, they are scalable.

<h2>Game changer for India</h2>

India, which has mostly relied on imports for the mineral, now has hope with the finding of a large reserve. The fact that the majority of the global reserve is located in regions with severe water stress makes this discovery even more important. India is a potential replacement because the mineral requires a large amount of water for extraction and the majority of the reserves are in nations with water shortages.

EVs aren't the only thing that use lithium; it's also used in the medical field, in electronics that run our phones, in solar panels, and in other renewable technologies essential for the switch to clean energy. The discovery might mark the start of a new era for the entire world as well as India.

WATCH WION LIVE HERE:

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India's dependence on the import of EV batteries, laptops, mobile phones, and other electronic devices would be significantly reduced since the discovery of a 5.

India's dependence on the import of EV batteries, laptops, mobile phones, and other electronic devices would be significantly reduced since the discovery of a 5.9 million tonnes lithium reserve in Jammu and Kashmir's Reasi District. The reserve can help meet India's expanding EV industry's lithium demand. Since the commercialisation of lithium-ion batteries in the 1990s, significant technological advancements have put lithium at the forefront, according to Austrade, The Australian Trade and Investment Commission. Australian government's trade, investment and education promotion agency. It is the driving force behind the revolution in smartphones, tablets, and other smart devices. What is lithium used for? Lithium is an extremely reactive, alkaline, and light metal. It is mostly employed in the manufacturing of ceramics and glassware, greases, medicinal compounds, air conditioners, and aluminium, among other things. Due to its maximum energy storage capacity per kilogramme, It is an ideal option for electric vehicle manufacturers like Tesla due to its enormous energy storage capacity and incredibly low weight. India's 'white gold' The Geological Survey of India, which also evaluates India's mineral resources, discovered 5.9 million tonnes of lithium resources - a first for the nation - in the Salal-Haimana region of Jammu and Kashmir's Reasi district, according to a report released on February 9 by the Indian Ministry of Mines. During the 62nd Central Geological Programming Board meeting that day, the Ministry of Mines presented a report on this, 15 additional resource-bearing geological reports, and 35 geological memoranda to the relevant state governments. Also read | India discovers huge deposits of Lithium critical for electric mobility “For the first time, lithium reserves have been discovered and that too in Jammu and Kashmir,” the news agency PTI quoted mines secretary Vivek Bharadwaj as saying. The soft, shining grey metal is one that is crucial in the modern world. Among other things, it's utilised to construct the essential batteries for electric vehicles. Hence, "white gold" was given. If India had its own lithium reserves, it wouldn't need to rely as heavily on imports as it does now to meet its demands. Given the push for electric vehicles, India's needs for lithium are also probably going to increase, said Bharadwaj. Reserves of ithium are also rare. According to Rishabh Jain, senior programme director for the Council on Energy, Environment, and Water, who spoke to the Wire, there are 98 million tonnes of lithium in the world. India has now discovered around 5.5 per cent of these resources. India's Lithium reserve vs Lithium reserves in other countries The lithium deposit in Jammu and Kashmir may contain a significant amount of lithium, however it is currently insufficient to compare to the top lithium reserves in the world. Australia has 6.3 million tonnes of lithium, Bolivia has 21 million tonnes, and Argentina has 17 million tonnes, as reported by the Mint. China, however, is the source of 4.5 million tonnes of the light metal. In 2020, China will be the third-largest provider of lithium in the world, owning a total of 7.9% of the world's lithium reserves. Since South America is a particularly rich supply of the metal, the three nations of Bolivia, Chile, and Argentina are collectively referred to as the "Lithium Triangle." A US-based committee claims that between 2018 and 2020, China spent $16 billion on mining operations abroad to explore for lithium. It also made investments in the "lithium triangle" region of South America. Furthermore, China is the world's leader in the manufacture of electric vehicles. According to a research by the Centre for Strategic and International Studies, mostly because of its early investment in Australia's main mining output activities. Also watch | Gravitas: India discovers 5.9 million tonnes of lithium deposits Beijing currently has 55% of the chemical lithium supply needed for battery-powered electric vehicles. It is currently increasing its power in the lithium triangle as well. The principal owner of the Cauchar-Olaroz facility in Argentina, thought to be one of the world's top lithium producing mines, is China's Ganfeng Lithium. Additionally, it is one of the largest EV battery suppliers to India. Given India's fraught relationship with the dragon over territorial disputes, this is a matter of concern. Owning more of these lithium sources and strengthening India's position in foreign lithium mines are crucial if India is to become self-sufficient in the field of EV production and stop depending on China for EV battery supplies. Amount of lithium in EV batteries EV batteries contain a few grammes of lithium, which is best described as being comparable to half a teaspoon of sugar. 5,000 battery cells and 10 kg of lithium are both potential requirements for an EV. 90 electric cars' worth of demand can be supplied by one tonne of lithium, as reported by Money Control. These batteries are lithium-ion and contain numerous distinct cells. One million electric automobiles require around 60,000 tonnes of lithium carbonate equivalent. Elon Musk, the owner of Tesla, stated in a recent tweet that 30 million electric cars must be created by 2027, which would require 1.8 million tonnes of lithium carbonate equivalent. This would require a 473 percent increase in output of lithium carbon equivalent to 1.8 million tonnes from levels in 2019. By 2030, Tesla itself plans to boost its capacity for producing batteries by at least 50 times, to three terawatt hours. This would take $7 billion (Rs 51,025 crore) in investments, but that amount is significantly less when taking batteries and auto production into account. Rechargeable lithium-ion batteries are favoured and accounted for 54 per cent of the metal's demand in 2019. In addition to having a higher energy density and a longer life cycle with less maintenance, they are scalable. Game changer for India India, which has mostly relied on imports for the mineral, now has hope with the finding of a large reserve. The fact that the majority of the global reserve is located in regions with severe water stress makes this discovery even more important. India is a potential replacement because the mineral requires a large amount of water for extraction and the majority of the reserves are in nations with water shortages. EVs aren't the only thing that use lithium; it's also used in the medical field, in electronics that run our phones, in solar panels, and in other renewable technologies essential for the switch to clean energy. The discovery might mark the start of a new era for the entire world as well as India. WATCH WION LIVE HERE:

Explained: What does the discovery of lithium in J&K mean for India?

The Taliban government has reportedly declared a ban on the extraction of iron ore in the country.

The development comes after videos on social media reportedly showed vehicles being smuggled from Afghanistan to Pakistan.

Afghanistan is one of the top producers&nbsp;of extractable iron in the world. The total iron ore reserve in the country is estimated to be around 2.2 billion metric tonnes with large deposits located in the Bamyan province.

<a href="https://www.wionews.com/south-asia/watch-pakistani-forces-and-taliban-clash-again-over-border-fencing-issue-441936">Watch: Pakistani forces and Taliban clash again over border fencing issue</a>

The country also has vast deposits of untapped copper, coal, lithium, uranium including oil and gas.

Taliban's Zabhihullah Mujahid&nbsp;in a tweet had said that the Afghanistan government officials had met Russian investors to explore "extraction and establishment of oil and gas refineries" in the country.

Mujahid&nbsp;asserted the talks were also conducted for cement and alloy plants including the establishment of a cement production company. The Taliban government has been seeking investment from abroad in order to address the deep economic crisis ever since it took over the country in August last year.

<a href="https://www.wionews.com/south-asia/militancy-soared-in-pakistan-after-taliban-offensive-in-afghanistan-report-441764">Also Read:&nbsp;Militancy soared in Pakistan after Taliban offensive in Afghanistan</a>

Reports claimed last year that Chinese mining officials had visited Afghanistan to explore lithium and copper deposits.

China's state-run Global Times had reported that officials had made on-site visits to the country targeting lithium mining deposits.&nbsp;

Reports claimed at least five Chinese companies had obtained special visas in November to explore the new mining opportunities. Afghanistan reportedly has over $1 trillion worth of natural deposits.&nbsp;

(With inputs from Agencies)

The Taliban government has reportedly declared a ban on the extraction of iron ore in the country. The development comes after videos on social media reportedly showed vehicles being smuggled from Afghanistan to Pakistan.

The Taliban government has reportedly declared a ban on the extraction of iron ore in the country. The development comes after videos on social media reportedly showed vehicles being smuggled from Afghanistan to Pakistan. Afghanistan is one of the top producers of extractable iron in the world. The total iron ore reserve in the country is estimated to be around 2.2 billion metric tonnes with large deposits located in the Bamyan province. Watch: Pakistani forces and Taliban clash again over border fencing issue The country also has vast deposits of untapped copper, coal, lithium, uranium including oil and gas. Taliban's Zabhihullah Mujahid in a tweet had said that the Afghanistan government officials had met Russian investors to explore "extraction and establishment of oil and gas refineries" in the country. Mujahid asserted the talks were also conducted for cement and alloy plants including the establishment of a cement production company. The Taliban government has been seeking investment from abroad in order to address the deep economic crisis ever since it took over the country in August last year. Also Read: Militancy soared in Pakistan after Taliban offensive in Afghanistan Reports claimed last year that Chinese mining officials had visited Afghanistan to explore lithium and copper deposits. China's state-run Global Times had reported that officials had made on-site visits to the country targeting lithium mining deposits. Reports claimed at least five Chinese companies had obtained special visas in November to explore the new mining opportunities. Afghanistan reportedly has over $1 trillion worth of natural deposits. (With inputs from Agencies)

Taliban halts iron ore extraction amid talks with Russians on gas refineries

Producers of processed&nbsp;lithium, an essential element for batteries used in electric cars, are agreeing to long-term contracts with their customers to fund the investments needed to address a looming shortfall.

Demand for battery-grade&nbsp;lithium&nbsp;compounds is expected to skyrocket in the next decades in tandem with soaring demand for electric cars as governments and individual consumers try to reduce their carbon footprint.

Although there&#39;s plenty of&nbsp;lithium&nbsp;around, the problem is ensuring there is enough capacity to process it.

Battery makers and other end-users such as car manufacturers will need to sign multi-year deals that encourage large producers to invest more, and faster, industry sources say.

Some of that is already happening.

&quot;We&#39;ve established the timeline for our own expansion based on the commitments our customers are making with us,&quot; said Tom Schneberger, global business director at the US listed FMC&nbsp;Lithium, one of the world&#39;s top four producers.

&quot;Our first priority will be to provide the adequate supply of the high-quality products upon which (our strategic customers) rely,&quot; he told Reuters.

Expansion plans by Chile&#39;s Sociedad Quimica Y Minera (SQM), another of the top four, for next year are also based on long-term agreements, the company told Reuters.

The production and use of electric cars is projected by Morgan Stanley analysts to rise to 2.9 per cent of 99 million new vehicles in 2020 and to 9.4 per cent of 102 million new vehicles in 2025, from 1.1 percent of 86.5 million this year.

By 2050, 81 per cent of 132 million new auto sales will be electric, Morgan Stanley says.

Limited Visibility

The&nbsp;lithium-ion batteries needed to power electric cars use&nbsp;lithium&nbsp;carbonate or&nbsp;lithium&nbsp;hydroxide, but the industry typically talks in terms of&nbsp;lithium&nbsp;carbonate equivalent which contains both.

Two types of&nbsp;lithium&nbsp;deposits dominate.

One is a hard rock as found in Australia, for which ready-to- go capacity to produce battery gradelithium&nbsp;can take up to three years. The other is brine, mostly found in Chile and Argentina, which can take seven years or more.

China has reserves of both.

Consultants Roskill estimate 785,000 tonnes of&nbsp;lithium&nbsp;carbonate equivalent a year will be needed by 2025, amounting to a 26,000-tonne shortfall from anticipated supply, compared to 217,000 tonnes of demand versus 227,000 tonnes of supply this year.

Others expect an even larger deficit.

&quot;There&#39;s limited visibility into where we&#39;re going to get the last 200,000 tonnes of&nbsp;lithium&nbsp;if we hit the numbers Roskill is expecting for 2025,&quot; said Seth Ginns, a managing director at Jennison Associates.

Jennison manages more than $164 billion of investment and is a top 10 investor in both FMC and US listed Albemarle, another of the top four producers.

&quot;We estimate the&nbsp;lithium&nbsp;industry is going to need between $4-$5 billion of investment out to 2025,&quot; said Simon Moores, managing director at Benchmark Minerals Intelligence.

Price projections out to 2025 are not available, but Benchmark estimates prices of&nbsp;lithiumcarbonate will average $13,000 a tonne over the 2017-2020 period from around $9,000 a tonne in 2015-2016.

Demand for&nbsp;lithium&nbsp;hydroxide, preferred over carbonate as it allows greater battery capacity and longer life, is expected to grow at a faster pace. Benchmark predicts the price to average $18,000 a tonne between 2017-2020 against $14,000 in 2015-2016.

Four companies dominate

Top producers are looking at a bonanza if they can ramp up investment fast enough with end-user commitments in hand.

&quot;There are four names that dominate and that is likely to be the case for the next five years,&quot; said Jeremy Kent, a portfolio manager at Allianz Global Investors.

Roskill managing director Robert Baylis estimates FMC, Albemarle, SQM and China&#39;s TianqiLithium&nbsp;Corporation together accounted for 66 per cent of the world&#39;s&nbsp;lithium&nbsp;carbonate equivalent last year. Wood Mackenzie consultant James Whiteside puts the figure at 78 per cent.

FMC&#39;s&nbsp;lithium&nbsp;hydroxide capacity rose 80 per cent in 2017 to 18,000 tonnes a year, and it has plans to boost that to 30,000 tonnes by the end of 2019. After that, capacity will be expanded as required by demand, FMC&#39;s Schneberger said.

Albemarle is planning to expand its&nbsp;lithium&nbsp;carbonate equivalent capacity to 165,000 tonnes by 2021 from 89,000 tonnes this year, a spokesperson said. &quot;We anticipate spending $700 million and $1 billion over the next 5 years.&quot;

SQM said in an email it was planning to invest $50 million to expand its&nbsp;lithium&nbsp;carbonate capacity in Chile to 63,000 tonnes by 2018 from 48,000 tonnes currently. It also has joint ventures in Argentina and Australia to develop deposits.

Tianqi&nbsp;Lithium&nbsp;declined to comment on its investment plans.

Another company actively investing is Australia&#39;s Orocobre, which planned to produce 17,500 tonnes a year of&nbsp;lithium&nbsp;carbonate at its Olaroz facility in Argentina.

Severe weather cut this year&#39;s production to 11,700-11,800 tonnes, however.

Whiteside said Orocobre&#39;s difficulties were typical of many smaller players, noting that the Olaroz facility was the first new major brine operation started in 20 years.

&quot;Because the number of brine operations has been so few historically, there are very few technically experienced chemical engineers to assist these junior companies,&quot; he said.

&quot;There are people out there promoting brine projects with plans that are not as robust as they should be.&quot;

Producers of processed?lithium, an essential element for batteries used in electric cars, are agreeing to long-term contracts with their customers to fund the investments needed to address a looming shortfall

Producers of processed lithium, an essential element for batteries used in electric cars, are agreeing to long-term contracts with their customers to fund the investments needed to address a looming shortfall. Demand for battery-grade lithium compounds is expected to skyrocket in the next decades in tandem with soaring demand for electric cars as governments and individual consumers try to reduce their carbon footprint. Although there's plenty of lithium around, the problem is ensuring there is enough capacity to process it. Battery makers and other end-users such as car manufacturers will need to sign multi-year deals that encourage large producers to invest more, and faster, industry sources say. Some of that is already happening. "We've established the timeline for our own expansion based on the commitments our customers are making with us," said Tom Schneberger, global business director at the US listed FMC Lithium, one of the world's top four producers. "Our first priority will be to provide the adequate supply of the high-quality products upon which (our strategic customers) rely," he told Reuters. Expansion plans by Chile's Sociedad Quimica Y Minera (SQM), another of the top four, for next year are also based on long-term agreements, the company told Reuters. The production and use of electric cars is projected by Morgan Stanley analysts to rise to 2.9 per cent of 99 million new vehicles in 2020 and to 9.4 per cent of 102 million new vehicles in 2025, from 1.1 percent of 86.5 million this year. By 2050, 81 per cent of 132 million new auto sales will be electric, Morgan Stanley says. Limited Visibility The lithium-ion batteries needed to power electric cars use lithium carbonate or lithium hydroxide, but the industry typically talks in terms of lithium carbonate equivalent which contains both. Two types of lithium deposits dominate. One is a hard rock as found in Australia, for which ready-to- go capacity to produce battery gradelithium can take up to three years. The other is brine, mostly found in Chile and Argentina, which can take seven years or more. China has reserves of both. Consultants Roskill estimate 785,000 tonnes of lithium carbonate equivalent a year will be needed by 2025, amounting to a 26,000-tonne shortfall from anticipated supply, compared to 217,000 tonnes of demand versus 227,000 tonnes of supply this year. Others expect an even larger deficit. "There's limited visibility into where we're going to get the last 200,000 tonnes of lithium if we hit the numbers Roskill is expecting for 2025," said Seth Ginns, a managing director at Jennison Associates. Jennison manages more than $164 billion of investment and is a top 10 investor in both FMC and US listed Albemarle, another of the top four producers. "We estimate the lithium industry is going to need between $4-$5 billion of investment out to 2025," said Simon Moores, managing director at Benchmark Minerals Intelligence. Price projections out to 2025 are not available, but Benchmark estimates prices of lithiumcarbonate will average $13,000 a tonne over the 2017-2020 period from around $9,000 a tonne in 2015-2016. Demand for lithium hydroxide, preferred over carbonate as it allows greater battery capacity and longer life, is expected to grow at a faster pace. Benchmark predicts the price to average $18,000 a tonne between 2017-2020 against $14,000 in 2015-2016. Four companies dominate Top producers are looking at a bonanza if they can ramp up investment fast enough with end-user commitments in hand. "There are four names that dominate and that is likely to be the case for the next five years," said Jeremy Kent, a portfolio manager at Allianz Global Investors. Roskill managing director Robert Baylis estimates FMC, Albemarle, SQM and China's TianqiLithium Corporation together accounted for 66 per cent of the world's lithium carbonate equivalent last year. Wood Mackenzie consultant James Whiteside puts the figure at 78 per cent. FMC's lithium hydroxide capacity rose 80 per cent in 2017 to 18,000 tonnes a year, and it has plans to boost that to 30,000 tonnes by the end of 2019. After that, capacity will be expanded as required by demand, FMC's Schneberger said. Albemarle is planning to expand its lithium carbonate equivalent capacity to 165,000 tonnes by 2021 from 89,000 tonnes this year, a spokesperson said. "We anticipate spending $700 million and $1 billion over the next 5 years." SQM said in an email it was planning to invest $50 million to expand its lithium carbonate capacity in Chile to 63,000 tonnes by 2018 from 48,000 tonnes currently. It also has joint ventures in Argentina and Australia to develop deposits. Tianqi Lithium declined to comment on its investment plans. Another company actively investing is Australia's Orocobre, which planned to produce 17,500 tonnes a year of lithium carbonate at its Olaroz facility in Argentina. Severe weather cut this year's production to 11,700-11,800 tonnes, however. Whiteside said Orocobre's difficulties were typical of many smaller players, noting that the Olaroz facility was the first new major brine operation started in 20 years. "Because the number of brine operations has been so few historically, there are very few technically experienced chemical engineers to assist these junior companies," he said. "There are people out there promoting brine projects with plans that are not as robust as they should be."

Lithium processors for cars set to sky rocket