Lithium in Saudi Arabia. Saudi Arabia, which is rich in oil reserves and natural gas, has hit another jackpot. Lithium reserves have been found in Saudi's sea area. Saudi Arabia's state-owned petroleum and natural gas company Aramco has started extracting lithium under a pilot project in an oil field.

Other oil companies, including Exxon Mobil and Occidental Petroleum (OXY.N), are also interested in working on lithium, news agency Reuters reports.

The number of electric vehicles is increasing in the world

Saudi Arabia's economy has been dependent on oil for many decades. Today, the number of electric vehicles is increasing in the world. Governments of many countries including India are also providing subsidies to auto companies to promote electric vehicles. In such a situation, finding lithium reserves is a big 'good news' for Saudi Arabia.

Saudi government engaged in promoting lithium mining

Saudi Arabia's Deputy Minister for Mining Affairs Khalid bin Saleh Al-Mudhaifer has announced that the kingdom will soon launch a commercial pilot project to promote lithium mining.

It is expected that if the prices of lithium increase in the international market, Saudi will get tremendous benefit. Actually, the sources of fossil fuels are depleting rapidly, in such a situation scientists are rapidly looking for alternative sources of energy. Lithium is also called white gold or modern oil. Lithium is used in making batteries of mobile, laptop, electronic cars. 

Lithium reserves also found in India 

Let us tell you that Lithium reserves have been found in India as well. Lithium is worth billions of rupees. Lithium reserves have been found in Jammu and Kashmir. The amount of Lithium reserves found by the Geological Survey of India is said to be 59 lakh tonnes.

Renewable energy can be stored in ion batteries made with the help of renewable energy and lithium. These are rechargeable batteries and have a longer life.