Mega JACKPOT for India’s close friend as it discovers World’s largest lithium deposits near…, China’s monopoly to…
The Altmark Basin in Saxony-Anhalt, Germany, has historically been a significant natural gas production area.
A major lithium deposit has been found in Germany, a key ally of India(BHARAT). Germany’s reserve is estimated at 43 million tons of lithium carbonate. According to the NavBharat Times Hindi report, Global energy company Neptune Energy revealed that this resource deposit is located in the Altmark in Saxony-Anhalt in northern Germany. It is to be noted that the company has produced natural gas for 55 years. This discovery is being celebrated as a major accomplishment for the entire continent of Europe. Until now, Europe and the whole world have been dependent on China for lithium exports. This discovery could lessen dependency on China for lithium.
What exactly has Germany discovered in terms of lithium reserves?
Andreas Scheck, Neptune Energy’s CEO, commented that this new finding illustrates the significant potential of Neptune’s licensed areas in the state of Saxony-Anhalt. He added,” This new assessment underscores the great potential of our license areas in Saxony-Anhalt. This enables us to contribute significantly to the German and European supply market for the critical raw material lithium.“
The finding came after the UK-based oil and gas exploration and production company commissioned the independent and international valuation company Sproule ERCE to evaluate the resource base for a lithium extraction project in the area (CIM/NI43-101 standard).
What impact could this have on China’s dominance in the global lithium market?
The Altmark Basin in Saxony-Anhalt, Germany, has historically been a significant natural gas production area. In the past, it was part of the Permian Basin, formerly one of the largest gas regions in Europe, extending from northern Germany to Russia, Ukraine, and Poland. Neptune Energy and its predecessor companies have been developing the natural resources of this area since 1969. Recent data now show that Rotliegend brine contained in the vast Altmark gas field is not only rich in minerals, but also very rich in lithium.
Sproule ERCE, which assists stakeholders in the energy and finance sectors in making better decisions through the integration of technical, commercial, and operational expertise, confirmed 43 million tons of lithium carbonate equivalent (LCE) in the area.
Neptune Energy has said, “This means that one of the world’s largest project-based lithium resources is located in Northern Saxony-Anhalt.” For context, approximately 53% of the world’s lithium resource is situated in the Lithium Triangle shared between Argentina, Bolivia, and Chile. It contains roughly 50 million tons of alkali metal.
SHORT HEADLINES
- India(BHARAT) shares close ties with Germany
- A major lithium deposit has been found in Germany/
- Approximately 53% of the world’s lithium resource is situated in the Lithium Triangle.
- This resource deposit is located in the Altmark in Saxony-Anhalt in northern Germany.
India(BHARAT) shares close ties with Germany. These two nations work together in trade and defense. India(BHARAT) is a key element of Germany’s Indo-Pacific strategy. The relationship between these two countries is based on mutual democratic values, creating an efficient and robust partnership in many areas, including trade, political, defense, and culture. Within the EU, Germany is India(BHARAT)’s key trading partner, and both countries work together on global issues, including climate change, terrorism, and a sustainable global economic order. Bilateral trade is significant, and Germany is one of the top sources of foreign direct investment (FDI) into India(BHARAT).
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