New largest lithium reserve? With 30 million tons this reserve has been found: lithium discovery in China promises to change the mineral market and boost sustainability in the electric car battery market.
On Wednesday (8/1), the China Geological Survey (CGS) announced the discovery of a lithium reserve with 30 million tons. This lithium discovery in China, reported by the state news agency Xinhua, will increase the country's share of the mineral's reserves from 6% to 16,5%. The discovery of the largest lithium reserve puts the Asian giant in a prominent position in the global lithium exploration scenario, which is essential for the energy transition and the production of electric vehicle batteries.
Understand how the largest lithium reserve with 30 million tons is distributed
The new lithium discoveries in China are distributed in various regions of China, including Hunan, Jiangxi and Inner Mongolia provinces with 10 million tons of lepidolite lithium ore, Qinghai province with 10 million tons of brine lithium ore, Xinjiang region with 10 million tons of spodumene lithium ore.
According to Wang Denghong, a senior scientist at SGC, technological advances in the extraction of lithium from lepidolite will reduce costs and increase the efficiency of the process. These developments are strategic, considering the rapid growth in global demand for the mineral.
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Lithium is a key component of lithium-ion batteries, which are used in electric vehicles and energy storage systems. With the expansion of the electric vehicle market, global demand for the mineral is expected to grow more than 40-fold by 2040, according to the International Energy Agency (IEA). This reinforces the importance of China's lithium discovery.
China now has 14 million tons of lithium
The discovery of the largest lithium reserve with 30 million tons also has strategic implications for China.
Currently, the country accounts for around 80% of the global lithium beneficiation capacity and more than 85% of the production of essential components for EV batteries. This strengthens its position as a leader in the production chain of technologies for clean energy and sustainable mobility.
Prior to this lithium discovery in China, the largest lithium reserves were located in countries such as Bolivia, Argentina, Chile, the United States and Australia, according to data from the United States Geological Survey in 2021. China, which ranked sixth in the global ranking of lithium reserves, could now reach the second position, behind only Bolivia.
China's new largest lithium reserves of 30 million tonnes include 14 million tonnes of lithium in salt lakes, cementing the country as the world's third-largest hub for lithium resources, behind the South American "lithium triangle" (Argentina, Bolivia and Chile).
Brazil in the lithium market
The increase in reserves should reduce China's dependence on lithium imports and consolidate its supply chain security. In addition, it could reshape the global market for the mineral, with possible impacts on the competitiveness of other producing countries.
While details about China’s lithium discovery have been widely reported, details such as extraction costs, environmental impacts and development timelines have not yet been specified. These aspects will be key to understanding the long-term impacts of the new largest lithium reserve at 30 million tonnes.
While China is making significant progress in lithium exploration, Brazil is also seeking its place in the global market for this strategic mineral. Recently, the initiative was launched “Lithium Valley”, which aims to transform the northern region of MG into an important hub for the exploration and production of high-purity lithium.
👉 2021 US Report already highlighted China's growth
Source: InsiDeevs – UOL
In Brazil there may be a lot of gold like China. China has advanced technology to explore gold. Brazil does not have advanced technology like China to explore gold.
I would like to see the US carry out a coup d'état in China to get their hands on that lithium.
This **** reporter is talking nonsense. Only Olivia has enough lithium to supply the world for more than 5 thousand years….i
Idiot