Economy Prelims Plus
Why is in news? Geological Survey of India Finds Lithium and Gold Deposits
Geological Survey of India has for the first time established Lithium inferred resources of 5.9 million tonnes in Salal-Haimana area of Reasi District of Jammu & Kashmir (UT).
This report along with 15 other resource bearing geological reports and 35 Geological memorandums were handed over to respective state governments during the 62nd Central Geological Programming Board (CGPB) meeting held on 09th February 2023.
Out of these 51 mineral blocks, 5 blocks pertains to gold and other blocks pertains to commodities like potash, molybdenum, base metals etc. spread across 11 states of Jammu & Kashmir (UT), Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Odisha, Rajasthan, Tamil Nadu and Telangana.
Major thrust has been given on the exploration of strategic - critical and fertilizer minerals. A total of 115 projects on strategic & critical minerals including 16 projects on fertilizer minerals have been formulated.
The Central Geological Programming Board (CGPB) is an important platform of the Geological Survey of India (GSI), Ministry of Mines wherein the Annual Field Season Program (FSP) of GSI is placed for discussion for synergy and to avoid duplication of work
Geological Survey of India:
The Geological Survey of India (GSI) is a scientific agency of India.
It was founded in 1851, as a Government of India organization under the Ministry of Mines, one of the oldest of such organisations in the world and the second oldest survey in India after Survey of India (founded in 1767), for conducting geological surveys and studies of India.
It is also as the prime provider of basic earth science information to government, industry and general public, as well as the official participant in steel, coal, metals, cement, power industries and international geoscientific forums.
Headquarters: Kolkata, West Bengal.
Lithium:
Rising global lithium demand and surging prices have drawn increased interest in the so-called ‘lithium triangle’ that spans parts of Argentina, Bolivia and Chile.
The countries with Largest Reserves is Chile> Australia> Argentina
Lithium has become the new 'white gold' as the demand for high performing rechargeable batteries is rising.
It is a soft, silvery-white metal. Under standard conditions, it is the lightest metal and the lightest solid element.
It is flammable and can even explode when exposed to air and water.
It is highly reactive and flammable, and must be stored in mineral oil. It is an alkali metal and a rare metal.
Rare metals are strategic in nature with wide application in the nuclear and other high tech industries such as electronics, telecommunication, information technology, space, defense etc.
Uses:
Lithium is a key element for new technologies and finds its use in ceramics, glass, telecommunication and aerospace industries.
The well-known uses of Lithium are in Lithium ion batteries, lubricating grease, high energy additive to rocket propellants, optical modulators for mobile phones and as convertor to tritium used as a raw material for thermonuclear reactions i.e. fusion.