Lithium, a silvery-white alkali metal, has become an indispensable element in today's world, especially in the context of lithium-ion (Li-ion) batteries. With the global push towards greener technologies and the electrification of transport, the demand for lithium has soared, making its production and reserves a subject of critical importance.
Over 70% of the world's lithium production is dominated by just two countries: Australia and Chile. Australia leads with a staggering 61,000 tonnes, primarily extracting lithium from hard rock spodumene, a mineral hosting lithium. Chile follows closely, with 39,000 tonnes, predominantly sourced from brine which is a method that involves pumping underground brine to the surface and extracting lithium through an evaporation process. These two countries' methodologies for lithium extraction are indicative of the different geologies and technologies that influence global lithium production.
Other significant contributors to lithium production include China with 19,000 tonnes and Argentina with 6,200 tonnes, both predominantly harnessing brine extraction methods. Brazil, Zimbabwe, Portugal, and Canada also contribute to the global supply, though to a lesser extent.
Bolivia, Argentina, and the United States possess the most significant reserves, with Bolivia at the forefront, holding 21 million tonnes. Argentina follows with 20 million tonnes, and the U.S. has 12 million tonnes. It is worth noting that while Australia is the leading producer, its reserves are significant yet smaller in comparison, with 7.9 million tonnes. China also has substantial reserves amounting to 6.8 million tonnes. The image provided reflects data for production and reserves in 2022. Though the most recent figures for lithium production and utilization may differ, the trends shown offer valuable insights into the industry's direction and the ongoing importance of lithium in the technological landscape.
For Li-ion batteries, the relevance of this data is profound. As the demand for electric vehicles and renewable energy storage systems surges, the need for lithium will continue to grow. This increasing demand places immense pressure on the supply chain, making the exploration of new reserves and the development of more efficient extraction and recycling methods imperative.
The geopolitical implications are also worth considering. The concentration of lithium production and reserves in a few countries may lead to supply instability and potential bottlenecks. This is why many countries and companies are investing in securing lithium sources and developing alternative battery technologies that may be less reliant on lithium.
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