Top 10 stocks to watch out for ahead of the critical mineral mines auction
gold or silver, these precious metals are so ubiquitous that they’ve now become a part of our language. However, when it comes to an investment perspective, people have stark views towards gold. For some, gold is a very polarising topic in the investment community while there are some who swear by it.
Same goes for silver, even after its fascinating properties. Now, the latest entrant to the list of precious metals is lithium. Remember the big news from earlier this year when India discovered lithium reserves? Soon after the discovery was made public, experts put India on the cusp of a revolution as far as electric vehicles (EVs) are concerned.
Reports started circulating that even if India was able to mine 10% of these reserves, it would give the country enough lithium to power around 60 million (m) EVs in India. EVs are powered by lithium-ion batteries which we currently import from China and Hong Kong. And if the country wants this business to sustain and do well over the long term, it needs to find a cheap and alternative source.
No wonder big conglomerates like the Tatas are pouring huge sums to have a lithium-battery source so they could get their hands directly on these batteries. Now, there has been tremendous excitement in government circles, the media, and corporate India after this announcement was made. The government even cleared some hurdles along the way after the discovery so that India could take the next big step.
For example, to ensure more private participation, the government has kept royalties on the cheaper side. India has had one of the highest royalty rates globally because state governments saw this as a major revenue source. But now with private players also looking a piece of the pie, India
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