JAMMU Feb 22: The process for auctioning of mammoth lithium reserves of around 5.9 million tons found in Reasi District of Jammu region will get a final shape after around one (1) month as the Geology and Mining Department of the Union Territory (UT) of J&K is preparing a proposal in this regard for seeking suggestions from the Geological Survey of India (GSI) on how to proceed further, official sources informed.
“We are preparing a proposal for sending it to the GSI requesting the GSI authorities to work out the modalities as soon as possible on auctioning of Lithium reserves and how we have to move forward regarding auctioning of Lithium reserves found in Reasi,” Director, Geology and Mining, OP Bhagat confirmed to Rising Kashmir when contacted.
“The proposal will be ready within 10 to 15 days and will then be sent to the GSI,” the Director further informed.
Meanwhile, sources informed that there are 2 ways of auctioning the Lithium reserves. One is Composite and the other is normal auctioning.
“Composite auctioning is the better option as licence is given to private parties and they carry out all the work and will have to conduct the remaining G-2 and G-1 study,” the Director said adding, “Under normal auctioning, we have to carry this G-2 and G-1 study which is not possible as we neither have the technology nor the manpower”.
In our report/ proposal, we will seek suggestions from the GSI on how to proceed further regarding auctioning and whether we can fix rates for the auctioning,” OP Bhagat said.
The Lithium, also known as white gold, found in J&K will not only give a mammoth economic boost to this UT but will also open up flood gates of employment for the youth of J&K. “The J&K UT has become the second largest hub of Lithium in the world after huge reserves have been found in Reasi,” Secretary, Geology and Mining, Amit Sharma said.
