Lithium, Battery, Electric, Vehicle

Lithium has long been of little worth, but lately, its significance has skyrocketed. Batteries made of lithium might store energy produced from renewable resources with a high degree of density. The majority of auto manufacturers now place a high priority on electric vehicles. When it comes to creating electric vehicles that are powered by lithium batteries, Tesla is already regarded as a pioneer. Between 2000 and 2015, the demand for lithium increased more than 30 times, and between 2015 and 2025, it is anticipated to grow another 10 times. China’s strategic plan was created to become the world’s technology superpower by 2025. Since 2015, the development of the lithium industry has been a significant national focus.

Additionally, China made sure that it would not be left behind in the competition to control lithium resources, as it had done when hydrocarbon resources were at stake. Lithium has been praised as a crucial tool in the fight against climate change, but that isn’t always the case. In the Chilean Andes, lithium mining is having a negative impact on shallow saltwater lakes. More than 10% of two flamingo species in the area had already gone extinct.

Insider Monkey highlights the 13 largest lithium producers in the world. One of the most cost-effective producers of lithium hydroxide worldwide is Piedmont Lithium Inc. The company’s objective is to establish itself as a leading supplier to the rapidly expanding American electric vehicle market. The primary lithium developer in Europe, Savannah Resources, intends to facilitate the switch to lithium-based batteries on the continent. The demand for lithium in Europe is anticipated to increase by more than 60 times by 2050 compared to 2020 levels, or by 18 times. In Sonara, Mexico, Baconara Lithium is “committed to developing a 35,000 TPA battery grade lithium operation.” Australia has substantial lithium reserves, making it a perfect choice for a big lithium producer. One of the biggest lithium producers in the world is Pilbara Minerals. For the fiscal year that ended in December 2015, the corporation reported losses of $51 million. Considered to be one of Australia’s largest hard rock lithium resources is the Pilangoora Project in the Pilbara region. With operations in both Argentina and the US, Lithium Americas Corp. has raised more than $1 billion in debt and stock. The Thacker Pass Project in Nevada and the Cauchari-Olaroz and Pastos Grandes projects are the company’s two largest ongoing projects. For more details, click 13 Largest Lithium Producers In The World.