Demand for lithium batteries may grow rapidly, spurring lithium production to triple in the next four years

According to GlobalData's data, the high demand for lithium batteries will cause the lithium output of lithium mines to triple in the next four years, and the new lithium metal production capacity will increase by 86,000 tons.

Currently, Australia has the highest output of 183,000 tons, followed by Chile and Argentina with 141,000 tons and 55,000 tons respectively. According to data from the United States Geological Survey (USGS), three spodumene operations in Australia and two brine operations in Argentina and Chile accounted for most of the world's lithium production in 2017.

The world's largest producer is the SQM market leader, accounting for 25% of global production-followed by Talison with 24%, Albemarle with 17%, and FMC with 9%.

In the next four years, Australia will account for the largest share of additional capacity, accounting for 37%, opening mines in Pilgangoora, Wodgina, BaldHill and MtHolland.

Next is Argentina, accounting for 29%, Canada accounting for 16%, Chile accounting for 9%, the United States accounting for 6%, and Mexico accounting for 4%.

According to the United States Geological Survey, due to continued exploration, the global lithium resources have increased significantly, with a total of more than 53 million tons. The US lithium resources identified from continental brine, geothermal brine, hectorite, oil field brine and pegmatite have been revised to 6.8 million tons.

The determined lithium resources of other countries have been revised to about 47 million tons.

Argentina’s determined lithium resource is 9.8 million tons; Bolivia, 9 million tons; Chile, 8.4 million tons; China, 7 million tons; Australia, 5 million tons; Canada , 1.9 million tons; Congo (Kinshasa), Russia and Serbia, 1 million tons each; Czech Republic, 840,000 tons; Zimbabwe, 500,000 tons; Spain, 400,000 tons; Mali, 200,000 tons; Brazil and Mexico, each 180,000 tons; Portugal, 100,000 tons; and Austria, 50,000 tons.