Four Countries With The Largest Lithium Reserves

    Four Countries with the Largest Lithium Reserves

    Lithium, a key component of batteries and other electronics, is becoming increasingly common worldwide - especially in rechargeable lithium-ion batteries used in electric vehicle manufacturing and large-scale battery storage. These manufacturing trends are expected to accelerate in the coming years as the energy transition accelerates, and interest in the silvery-white metal will continue to grow, with analysts expecting global demand to more than double by 2024.

According to the U.S. Geological Survey (USGS), there are four major lithium reserve countries by country/region: Chile, Australia, Argentina and China.

China's lithium consumption is high due to its electronics manufacturing and electric vehicle industries. China also produces nearly two-thirds of the world's lithium-ion batteries and controls most of the world's lithium processing facilities.

   In 2020, Chinese lithium carbonate spot prices and lithium hydroxide spot prices both rebound from their 2019 lows. After lithium is extracted from lithium deposits, it is typically processed into lithium compounds, usually lithium carbonate or lithium hydroxide, which are then used in lithium-ion batteries.

China's largest manufacturer of cylindrical lithium batteries is located in Gaoyou, Jiangsu, aerospace lithium, website: www.optimum-china.com