Demand for electronics and electric vehicles will make mining companies spend $750 billion to mine this metal

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Demand for lithium is growing so fast that investments in new mines are estimated to range from $350 billion to $750 billion.
Published 1 hour ago  |  Photo by Reuters/Regis Duvignau
c2-lithium-RTS1F8GP-Regis Duvignau

$750 billion

Lithium is already in high demand. The metal is the main component of the batteries that power our phones and computers. But demand is set to accelerate thanks to interest in electric vehicles.

c2-lithium-RTS1F8GP-Regis Duvignau

$750 billion

Sales of electric vehicles are expected jump from about 1 million now to almost 25 million in 2030. But to get there, companies like Chile’s SQM and the US’s FMC will have to supply the lithium needed to power those cars.

c2-lithium-RTS1F8GP-Regis Duvignau

$750 billion

The problem is not the availability of the metal. Feeding those gadgets and vehicles will only tap1% of global lithium reserves. The problem is building mines fast enough to meet demand for the metal.

c2-lithium-RTS1F8GP-Regis Duvignau

$750 billion

Firms in Chile, which produce half of global lithium output, also have to limit production due to quotas imposed by the government, and negotiate with environmental activists and indigenous groups.

Published 1 hour ago

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