{"id":246114,"date":"2023-06-02T21:01:18","date_gmt":"2023-06-02T15:31:18","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=246114"},"modified":"2023-06-02T21:01:18","modified_gmt":"2023-06-02T15:31:18","slug":"who-should-own-the-worlds-lithium","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/who-should-own-the-worlds-lithium\/","title":{"rendered":"Who should own the world\u2019s lithium?"},"content":{"rendered":"\n

Source<\/strong>– The post is based on the article \u201cWho should own the world\u2019s lithium?\u201d <\/strong>published in \u201cThe Hindu\u201d <\/strong>on 2nd June 2023<\/strong>.<\/p>\n

Syllabus: <\/strong>GS1- Economic geography. GS3- Economy<\/p>\n

News<\/strong>– Significant reserves of lithium have been found in Jammu and Kashmir.<\/p>\n

What is the status of India\u2019s lithium industry?<\/strong><\/h2>\n

India\u2019s electric-vehicle market was valued at $383.5 million in 2021<\/strong>. It is expected to expand to $152.21 billion in 2030.<\/strong><\/p>\n

India imported 450 million units of lithium batteries valued at $929.26 million in 2019-2020.<\/strong><\/p>\n

The ongoing global transition to low-carbon economies, the rapid expansion of AI, and 5G networks <\/strong>will greatly reshape global and regional geopolitics<\/strong>. The access to and control over rare minerals will play a crucial role in these changes.<\/p>\n

Who should own these minerals?<\/strong><\/h2>\n

In July 2013, Supreme Court of India ruled that the owner of the land has rights to everything beneath down to the centre of the earth. <\/strong><\/p>\n

The Supreme Court also recalled that the Union government could ban private actors <\/strong>from mining sensitive minerals<\/strong>. It is already the case with uranium under the Atomic Energy Act 1962. <\/strong><\/p>\n

Yet, large areas of land, including forests, hills, mountains, and revenue wasteland are publicly owned.<\/strong><\/p>\n

How do other countries manage lithium reserves?<\/strong><\/h2>\n

In Chile<\/strong>, the government has designated lithium as a strategic resource<\/strong>. Its development has been made the exclusive prerogative of the state<\/strong>. The state has issued only 2 licenses to produce lithium in the country.<\/p>\n

In April 2023, Chile\u2019s president announced a new \u201cNational Lithium Strategy<\/strong>\u201d. The new strategy calls for public-private partnerships for future lithium projects.<\/p>\n

It will allow the state to regulate the environmental impact <\/strong>of lithium-mining, distribute the revenue<\/strong> from lithium production fairly among local communities, and promote domestic research <\/strong>into lithium-based green technologies.<\/strong><\/p>\n

Bolivia\u2019s new constitution <\/strong>gave the state the control and direction over the exploration, exploitation, industrialisation, transport, and commercialisation<\/strong> of natural resources.<\/p>\n

It has nationalised lithium<\/strong> and adopted a hard line<\/strong> against private and foreign participation.<\/p>\n

This is believed to be one of the factors for the country\u2019s failure to produce any lithium at a commercial scale<\/strong>. Bolivia\u2019s current president seeks to change that.<\/p>\n

The President wants to join hands with other Latin American countries to design a \u2018lithium policy\u2019<\/strong> that would benefit all their economies.<\/p>\n

Mexico\u2019s president has also nationalised lithium in February this year.<\/p>\n

In general, the countries in Latin and South America are thinking through ways and means<\/strong> to pursue a multi-pronged strategy. <\/strong><\/p>\n

The actions of these governments are also a response to the mobilisation of Indigenous Peoples<\/strong> in the region who want to hold corporations and governments accountable.<\/strong><\/p>\n

What is the way forward for India?<\/strong><\/h2>\n

The appropriate development of the lithium sector will require a very high level of effectiveness <\/strong>on the part of the Indian state. It is necessary to meet its multiple goals of social wellbeing, environmental safety, and national energy security.<\/strong><\/p>\n

Much of India\u2019s mineral wealth is mined from regions with very high levels of poverty, environmental degradation, and lax regulation.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Source– The post is based on the article \u201cWho should own the world\u2019s lithium?\u201d published in \u201cThe Hindu\u201d on 2nd June 2023. Syllabus: GS1- Economic geography. GS3- Economy News– Significant reserves of lithium have been found in Jammu and Kashmir. What is the status of India\u2019s lithium industry? India\u2019s electric-vehicle market was valued at $383.5… Continue reading Who should own the world\u2019s lithium?<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[263,10498],"class_list":["post-246114","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-1","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/246114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=246114"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/246114\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=246114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=246114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=246114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}