India reportedly set to auction Jammu & Kashmir's 'white gold' lithium

More than a century after oil emerged as black gold, lithium has earned the epithet of white gold, amidst the global push for adoption of electric vehicles and clean energy. As a crucial element for storage of power, be it generated from solar or wind energy, lithium's demand is expected to surge five-fold by 2030.

More than two decades after it was first discovered in 1999, lithium explored from Jammu and Kashmir is expected to be auctioned off.

An essential ingredient for the energy mix

According to India's mining secretary a transaction advisor has already been recommended to the government for the auction of the critical resource.

The availability of the mineral in India will cut down the country's dependency on imports for the component which powers everything from smartphones to electric vehicles.

Cosmic mineral to propel India's EV push

It is thought that the element was formed when oxygen and carbon were hit by cosmic rays in space, and some scientists also believe that it is formed on red giant stars.

The reactive metal has been a viable replacement for lead-acid battery, as 1 kilogram of lithium can hold energy for which 6 kilogram of lead-acid is required.

As the country explores both sapphire and lithium in its northernmost region, Union Minister for Road Transport Nitin Gadkari went on to suggest that it could make India the world's largest EV maker.