How Lithium Production Will Affect the Future

In the modern age, lithium makes up an essential part of the landscape. From electronic vehicles to smartphones, most modern electronics wouldn’t be possible without lithium-ion batteries powering it. Given the global spread of technology, it can be assumed the need for lithium is near or at an all-time high. But with this exponential increase in lithium demand, how is supply compensating?

At present, Chile and Australia are the most important as largest lithium reserves and largest lithium producer respectively.  However, within only 2 years, there is a projected 186 metric ton supply deficit for lithium. As a result, many countries have begun mapping lithium reserves, potentially allowing them to become lithium producers. Amongst these are Ukraine, the U.K., Siberia, Mexico, Peru, Canada, and the U.S. 

Furthermore, the US only holds around 3.6% of the world’s lithium reserves, emphasizing the importance of foreign relations with lithium-producing nations. Chile, who established themselves as the largest lithium reserves, have around half of all the world’s lithium. Although these figures are likely to evolve with more lithium discovery, it is easy to see the importance of Chile with an impending shortage. At a time when lithium fuels most of the world’s electronics, lithium producing countries are going to be of the utmost importance moving forward.

Source: LithiumStockTips.com