Iran said it has discovered huge deposits of Lithium, a key component for batteries of electric vehicles and modern electronic devices, state media reported.
“For the first time in Iran, a lithium reserve has been discovered in Hamedan,” Iran’s state television quoted Mohammad Hadi, a ministry of industry official, while referring to the discovery of the rare element in the west of the country.
The development comes less than a month after a similar discovery was reported in India’s Jammu and Kashmir, boosting electric mobility potential of the world’s fifth largest economy.
Iran Lithium reserve discovery: How much is it?
The reserve is believed to hold “8.5 million tonnes” of lithium, according to the director-general of the ministry’s operating department cited by news agency AFP.
According to a United States Geological Survey (USGS) report published in 2022, a total of 89 million tons of lithium have been identified worldwide. Australia, Chile, Argentina and China are the main producers.
Iran Lithium discovery: Why is it significant?
Lithium is an essential element for the manufacturing of batteries of electric vehicles. Given the scale of the threat posed by Climate Change, it crucially allows the functioning of the cars without the emission of Carbon dioxide. It is also dubbed as the “oil of the 21st century”.
This white metal is also an essential component of rechargeable batteries used in cell phones and other electronic devices.
The discovery of Lithium adds to a plethora of reserves of natural resources that Iran hosts, such as gas, oil, copper and iron. Tehran’s economy is particularly battered by United States-led international sanctions against its reported nuclear proliferation activities.