Lithium: The demand for the world's critical mineral is set to soar
The world's carmakers are exploring mining companies in search of lithium and other metal reserves that could make or break their business as they move from fuel to battery power. In recent years, the
Aerial view of a mining site and a parking area in the Salinas Grandes in Jujuy, Argentina. China is trying to increase its access to lithium. Chinese mining companies—Ganfeng, Suzhou TA&A, Sinomine and BYD—have all taken steps to acquire lithium mining rights in South America and Africa. Ganfeng Lithium, which supplies Tesla, acquired the mining group Lithea, giving it rights to two lith
Image by MartÃn SILVA / AFP
2/6
Employees work on the production line of an electric vehicle battery manufacturing unit in Hefei, Anhui Province, China. Hundreds of gigafactories across China are churning out millions of EV batteries for both the domestic market and for foreign carmakers like BMW, Volkswagen, and Tesla. Six of the ten biggest EV battery producers are based in China—one of them, CATL, makes three out of
Image by Aly Song / Reuters
3/6
Miners and supporters march with flags and mining helmets during a rally supporting the left-leaning Bolivian government. Bolivia and Argentina have the largest lithium reserves, at 21 million tonnes and 20 million tonnes, respectively. However, there are risks in dealing with mining businesses in politically unstable countries with weak environmental protections. Local support is one of
Image by Radoslaw Czajkowski/picture alliance via Getty Images
4/6
The deep-sea mining vessel Hidden Gem near the Clarion Clipperton Fracture Zone in the Pacific Ocean. Deep-sea mining is the process of retrieving mineral deposits from the ocean below 200 metres -the deep seabed, which covers around two-thirds of the total seafloor. The International Seabed Authority, a United Nations body, struggles to get its members to agree on a framework of regulati
Image by Charles M. Vella/SOPA/LightRocket via Getty Images
5/6
A file photo of Reasi, 75 km northwest of Jammu. Months after India found its first-ever lithium reserve of 5.9 million tonnes of lithium ore in Jammu and Kashmir"s Reasi district in February this year, another reserve of the crucial mineral has been found in Rajasthan"s Nagaur district. These reserves" discovery may help reduce India"s dependency on China for lithium. India"s plan to inc
Image by Mukesh Gupta / Reuters
6/6
A man charges an electric vehicle at the charging hub of Indian ride-hailing BluSmart Electric Mobility in Gurugram, India, December 9, 2022. The global lithium-ion battery market was valued at $52 billion in 2022 and is estimated to reach $194 billion in 2030. The World Bank estimates that the production of minerals will need to increase by nearly 500 percent by 2050 to meet the growing
