LITHIUM
Big industrial projects worth Rs 81,000 crore get Maharashtra cabinet nod ahead of polls
Maharashtra's cabinet approved seven major industrial projects valued at over Rs 81,000 crore, slated to create 20,000 jobs. Important projects include JSW's electric vehicles and lithium battery ventures, along with the state's first integrated semiconductor project in Taloja. Investments spread across regions like Konkan and Vidarbha signaled a strategic push ahead of the upcoming assembly polls.
Hindustan Zinc to focus on batteries for energy transition
“Hindustan Zinc, one of India’s most valuable companies in the metals & minerals sector, already produces zinc and silver, two critical metals which will see ever increasing demand given their use in new, emerging technologies in addition to the traditional demand,” chairperson Priya Agarwal Hebbar told shareholders at the company’s annual general meeting on Monday.
Government scraps auction of 3 critical mineral blocks, including J&K lithium mine
The government has scrapped the auction of three critical mineral blocks, including a lithium mine in Jammu and Kashmir, under the third tranche of sale of mines due to a lower-than-required number of bidders. The auction is a part of the government's push towards cleaner alternatives and self-reliance in critical mineral supplies. The three blocks are Salal-Haimna Lithium, Titanium and Bauxite (Aluminous Laterite) Block in Jammu and Kashmir, Muskaniya-Gareriatola-Barwari Potash block in Jharkhand and Kurunjakulam Graphite block in Tamil Nadu.
Battery costs for EVs and energy storage set to come down, says INOXGFL group's executive director Devansh Jain
Import duty waivers on lithium and other critical minerals were expected to decrease battery costs for electric vehicles and energy storage, according to INOXGFL's Devansh Jain. Jain stated that battery chemicals made up about 35% of EV battery costs, and reducing import duties would lower overall EV costs. The initiative, along with the PLI scheme, aimed to encourage investments in EV battery manufacturing. Jain also noted that the high cost of battery storage hindered large-scale adoption, which required significant cost reductions for broader use.
Hindustan Zinc eyes gains from hard-to-extract critical minerals
Hindustan Zinc is controlled by natural resources major Vedanta, whose chairman Anil Agarwal has been quite vocal about local manufacturing to cut dependence on imports.
Lithium deposits found in Karnataka's Mandya and Yadgiri districts, Minister Jitendra Singh announces
Recently, the Atomic Minerals Directorate confirmed the discovery of 1,600 tonnes of lithium in Mandya and initial surveys in Yadgiri, Karnataka. The exploration extends to Chhattisgarh's Korba. Preliminary research in Himachal Pradesh revealed uranium. The government is reviewing small modular reactor technologies globally, with no current collaboration or private interest in production. India and Russia discussed nuclear energy cooperation.
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Budget 2024: Critical Minerals put on mission mode
FM Nirmala Sitharaman's budget introduces the Critical Mineral Mission with reduced import duties to boost domestic production and recycling, focusing on sectors like electronics, construction, nuclear, renewable energy, space, and defence. Offshore mineral blocks will be auctioned. Mines Minister G Kishan Reddy supports the plan, stressing its importance for enhancing India's global competitiveness in these strategic sectors.
Customs duty exemption on lithium, cobalt to aid growth of EV sector: Auto Inc
Union Budget 2024-25 exempts customs duties on lithium and cobalt. Extends concessional customs duty on Li-Ion cells till March 2026, removes 2% e-transaction levy. SIAM, ACMA, Deloitte's Rajat Mahajan, Hero MotoCorp, Ashok Leyland, Mercedes-Benz India, and TVS Motor laud the budget for boosting EVs, infrastructure, and sustainability.
Critical mineral mission to aid overseas assets acquisition and setting up local processing
India is set to launch a Critical Minerals Mission to improve facilities for critical commodities, including lithium and copper. Finance Minister Nirmala Sitharaman announced the mission in her budget speech, which will include technology development, skilled workforce, extended producer responsibility framework, and a suitable financing mechanism.
Budget 2024-25 waives import duties on lithium and other critical minerals
“Minerals such as lithium, copper, cobalt and rare earth elements (REE) are critical for sectors like nuclear energy, renewable energy, space, defence, telecommunications and high-tech electronics,” she said while adding, “I propose to fully exempt Customs duties on 25 critical minerals and reduce BCD on two of them.”
Expect sharp fall in cost of renewable power with storage: Tata Power CEO Praveer Sinha
Tata Power CEO Praveer Sinha anticipates significant reductions in energy storage and green power costs. The company is investing ₹13,000 crore for 2,800 MW pumped hydro storage in Maharashtra, utilizing the Western Ghats. Tata Power also runs Khopoli, Bhivpuri, and Bhira hydro projects, including a 150-MW initiative, with a focus on RE-RTC and FDRE advancements.
Indian Oil sets out its non-oil business plan
Indian Oil Corp aims to triple natural gas sales and increase renewable energy capacity to 31 GW by 2030, while building 5 GWh of lithium-ion battery-making capacity by 2031. The company is diversifying its energy offerings, including a strategic agreement with Japan's Panasonic Energy to explore lithium-ion battery manufacturing opportunities in India.
India has ramped up its wind and solar energy. It now needs to expand places to store it
Chennai's Coca-Cola factory battery by Amperehour Energy marks India's growing sector. Reliance and Goodenough Energy invest. Growing population and heat drive energy needs, with the IEA predicting a 6% annual rise. Government’s $452M support contrasts coal subsidies. Akshat Singhal of Log 9 Materials says one policy change could boost batteries as a fossil fuel alternative.
Union Budget: Govt should rationalise customs duty in budget to boost domestic manufacturing, says Indian Chamber of Commerce
The Indian Chamber of Commerce (ICC) has urged the government to rationalize customs duties in sectors like steel, solar batteries, aluminum, and lithium cells to enhance domestic manufacturing. Ahead of the Union Budget for 2024-25, ICC President Ameya Prabhu highlighted the need for protective measures to support domestic industries and reduce import dependency.
Nickel: The metal driving the EV revolution
Further advances in nickel-containing battery technology means its increasing role in energy storage systems like secondary or reusable batteries like nickel cadmium, nickel metal hydrate and Li-ion batteries. It is fast becoming an essential component of most secondary battery designs, including lithium.
Discover the Best Small Power Banks for On-the-Go Charging
A fast-charging small power bank is a handy and effective tool that allows users to quickly and efficiently recharge their electronic devices while on the go. Its rapid charging capabilities help extend the battery life of smartphones, tablets, and other gadgets, ensuring users stay connected and powered throughout the day. With its compact size and lightweight design, it is easy to carry, making it an essential accessory for those who are always on the move.
Budget expectations & India's e-waste recycling journey: Insights from Recyclekaro's founder Rajesh Gupta
Rajesh Gupta, founder of Recyclekaro, discusses India's reliance on imported battery cells for EVs due to a lack of domestic mineral reserves. Recyclekaro focuses on recycling retired batteries to extract critical metals like cobalt and lithium, supporting India's decarbonisation goals. Gupta hopes the Budget 2024 will include subsidies for the sale of recycled materials to boost sustainability efforts in the sector.
Milestone Moment: First commercial lithium production with new filtration tech begins in Utah
International Battery Metals (IBAT) achieves breakthrough lithium production in Utah with a water-efficient DLE method. Producing 5,000 tons annually, it targets varied deposits like China's and recycles over 98% of water from the Great Salt Lake.
Jammu and Kashmir lithium block gets no bids in second attempt
India's Jammu and Kashmir failed to attract bids in its second attempt to auction mining rights for newly discovered lithium reserves, estimated at 5.9 million metric tons. The block may now be assigned to a government agency for further exploration. This comes amid India's strategic focus on securing critical minerals for electric vehicle batteries.
India in talks with African and Latin American countries for critical mineral blocks, says official
"We are having lots of discussions with many other resource-rich countries both in Africa as well as in Latin America for getting a block on a G2G basis or on a priority basis", the joint secretary said.
Only a third of critical mineral blocks find buyers
A company which offers to share the highest percentage of its revenue earned through sale of extracted minerals with the state governments - called the auction premium - wins the bid.
Maiki South Mining secures India's first Lithium and REE blocks of Chhattisgarh with FPO of 76.05%
On Monday, Union Minister G Kishan Reddy granted the first Lithium block, Katghora, and the Rare Earth Element (REE) Block of Chhattisgarh to Maiki South Mining Private Limited, with a Final Percentage Ownership (FPO) of 76.05%. India currently depends significantly on imports to fulfill its demand for crucial minerals such as Lithium, Niobium, and Rare Earth Elements (REE). These minerals are essential for emerging technologies like electric vehicles, pharmaceuticals, and defense manufacturing.
Fire at a lithium battery factory in South Korea kills 22
A fire at a manufacturing factory in South Korea, likely caused by exploding lithium batteries, resulted in the death of 22 workers, mostly Chinese migrants, and injured 8 others. The incident occurred during battery examination and packaging, with nationalities of the victims including Chinese, South Korean, and Laotian. Authorities are investigating the blaze, while efforts continue to locate a missing worker and treat the injured.
First critical mineral block auctions winners to be announced on Monday
The winners of six critical mineral blocks, including the highly contested Katghora block, will be announced on Monday. Among them is India's first lithium and rare earth element (REE) mine. The first round of auctions, launched on November 23 last year with 20 mines, saw bids for phosphorite, fertiliser minerals, and more. The lithium block in Chhattisgarh received significant attention with over 10 bids, while graphite mines attracted 4-5 bidders per block.
Coal India exploring lithium assets in Argentina with U.S. company
Coal India Ltd, in collaboration with a U.S. firm, is exploring lithium blocks in Argentina to secure battery material supplies under the U.S.-led Minerals Security Partnership. This initiative aims to diversify critical minerals supply chains and reduce dependency on China, with preliminary studies currently underway.
Hindalco in process of bidding for two nickel, cobalt mines in Maharashtra, Karnataka: MD
Key minerals like copper, lithium, nickel, cobalt, and rare earth elements are crucial elements in numerous rapidly expanding clean energy technologies, ranging from wind turbines and electrical grids to electric vehicles.
No benefits likely from 38 critical blocks put on sale in this decade: Icra
Icra reported that benefits from the 38 critical mineral blocks on sale may not materialize by 2030 due to incomplete exploration. India's downstream manufacturing could face supply shocks. The government is auctioning lithium blocks in J&K and Chhattisgarh, with challenges in extracting lithium from clay deposits. Overseas acquisitions are also being considered.
Coal India, NMDC, OVL look to secure critical mineral assets abroad
CIL, NMDC, OVL, and KABIL are collaborating to secure critical minerals overseas, focusing on lithium for EV batteries. India defines 30 critical minerals to meet energy transition goals for various sectors.
Coal India, NMDC exploring lithium mines overseas
State-run miners Coal India and NMDC are venturing into lithium mines in Chile and Australia, aiming to secure critical minerals. India's Mines Ministry encourages state-owned firms like ONGC Videsh to explore overseas. Delegations will visit Zambia and Congo for joint exploration. India eyes trade pacts for access to critical minerals globally, including with Chile and Mongolia.
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