Battery demand for electric vehicles, energy storage systems, and portable electronic devices are propelling lithium mining around the planet.
As a result, worldwide lithium production increased by 21% in 2021 compared to 2020 to approximately 100,000 metric tons.
The above infographic lists the world''s largest mining companies of the white metal by market capitalization.
There are twoprimary sourcesto obtain lithium:
Lithium can also be extracted from lithium clays, but there''s still no commercial scale of production for this method of extraction.
Here''s a look at lithium resources and production by country:
According to theU.S. Geological Survey, four mineral operations in Australia, two brine operations each in Argentina and Chile, and two brine and one mineral operation in China accounted for the majority of global lithium production in 2021.
The world''s largest lithium producer, Albemarle Corporation, operates at the Chilean resource of Salar de Atacama in partnership with the second biggest producer, Sociedad Química y Minera de Chile (SQM). Salar de Atacama is home to almost a quarter of the world''s current supply of lithium and has been in operation since the 1980s.
Albemarle also has assets in Nevada, U.S., and Australia. Its Clayton Valley operation is the only source of lithium production in the United States.
While Australia and Chile account for the majority of the lithium supply, China has more than half of all capacity for refining it into specialized battery chemicals.
As part of the country''seffortsto dominate the clean energy metals supply chain, three Chinese companies are also among the top lithium mining companies. The biggest, Tianqi Lithium, has a significant stake in Greenbushes, the world''s biggest hard-rock lithium mine in Australia.
Between 2000 and 2010, lithium consumption in batteriesincreasedby 20% annually. In the following decade, that figure jumped to107%per year for batteries, with overall lithium consumption growing 27% annually on average.
Demand for lithium is forecast to almosttripleby mid-decade from last year''s level, according toBloombergNEF.
Therefore, lithium supply security has become a top priority for tech companies in Asia, Europe, and the United States.
(This article first appeared in the Visual Capitalist Elements)
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Lithium, a slivery-white alkali metal, is taking the world by storm. The unique properties of lithium and its compounds have made it one of the most used elements in several industries.
Lithium has a wide range of applications, from electronic components to pharmaceuticals. The most popular end product of this element is lithium-ion batteries, which are extensively used in portable electronics and electric vehicles.
While EV pioneer Tesla has played a crucial role in popularizing the use of lithium-ion batteries, there is an entire ecosystem of lithium mining firms and battery manufacturers that are contributing a lot to this petrol-to-electric transformation. At the highest level, the ecosystem begins with lithium miners that extract the element from the Earth.
In 2021, about 100,000 metric tons of lithium was produced — a substantial increase from 2010, when production was only 28,100 metric tons. According to the US Geological Survey, the worldwide identified reserves in 2021 were estimated to be 21 million tons.
For a long time, most lithium was extracted and processed by only a few large companies. However, this has changed in recent years. Below, we have listed the largest lithium mining companies according to their market capitalization.
Note: Since the stock price of a publicly traded company changes every day, the market cap also fluctuates accordingly.
Founded in 2007 Headquartered inOntario, Canada Market Cap: $690 million+
Lithium Americas explores and evaluates lithium, potassium, and other mineral resources in South America. It is focused on the development of two lithium projects: The Lithium Nevada project located in northwestern Nevada, and the Cauchari-Olaroz project located in Jujuy province of Argentina.
The Thacker Pass deposit in northern Nevada is the largest and highest-grade sedimentary lithium deposit in the US. It is expected to meet all of the projected demand for lithium in the US, and thus substantially reduce the nation’s dependency on foreign supplies.
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