JUNE 20238TOP STORYINDIA MAY LINK LOCAL LITHIUM PRICE WITH LONDON EXCHANGESTATE-RUN ANERT LAUNCHES AMBITIOUS PROJECT TO MAKE KERALA CAPITAL LARGEST SOLAR CITY IN INDIAAKerala government agency has launched an ambitious project to convert every rooftop in the state capital into a solar energy-producing station, making Thiruvananthapuram one of the largest solar towns in the nation in the near future. The public can view, learn about, and purchase a variety of solar energy systems at a three-day expo that the Kerala government-run Agency for New and Renewable Energy Research and Technology (ANERT) opened today. This is done in order to implement the central government programme that Prime Minister Narendra Modi unveiled last year."The solar city project seeks to completely supply a city's energy needs with renewable energy. We have determined that Thiruvananthapuram has the capacity to produce 800 MW of solar energy. Through the development of a solar atlas, we have located three lakh structures that are eligible for installation, according to ANERT Director Narendra Nath Velluri. According to Velluri, work on installing solar panels has already started in 600 government structures, 150 of which have been given the green light. The London Metal Exchange (LME)-published weekly pricing of lithium hydroxide monohydrate are what India is proposing to use as the benchmark for domestic lithium prices. There is currently no standardised metric to evaluate the worth of lithium or the rare earth elements (REEs) found in the nation. After conducting exploration and providing geological studies for blocks containing REEs and lithium in the nation, the Geological Survey of India (GSI) took action to fix prices.Since the revenue from mining to states is based on the average sale price (ASP) of a metal, bidding for these blocks cannot take place in the absence of a uniform criteria. According to a senior government official, an amendment to the Minerals (Other Than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016 has been developed that offers guidance on how to determine the cost of lithium and rare earth elements extracted in the nation.The Indian Bureau of Mines will be requested to publish the ASP of rare earth oxide for REEs using the United States Geological Survey's (USGS) published prices as a base. With the drive towards decarbonization and the deployment of electric vehicles, lithium demand has increased significantly on a global scale. The screens of flat panel televisions, computers, smartphones, and other electronic gadgets all make considerable use of REEs.
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