Production of Lithium in Australia reached 77.60Thousand Tonnes in 2023
Production grew by a CAGR of 23% between 2020 to 2023,and is expected to grow by...
GlobalData projects the production to grow at a CAGR of...
Impact of COVID-19 on Lithium production in Australia?
The growing adoption of electric vehicles (EVs) is rapidly increasing demand for lithium. Despite a slowdown in the market, global battery demand rose in 2020, supported by a shift in the design and advancement of battery technology. In the same year, batteries alone accounted for majority of total lithium consumption.
Global lithium metal production is expected to reach a significant position in 2021. Amid declining prices and the COVID-19 pandemic. Output from Australia and Argentina will be significant contributors to overall growth. Output from Chile is also expected to grow. Rising prices, as well as increasing battery demand for EVs, will be the driving factors for growth in lithium production in 2021.
Australia lithium reserves
Australia had the world’s second largest lithium reserves out of the global total in January 2021. Lithium reserves in Australia are mainly found in the state of Western Australia, which hosts several hard rock deposits with high economic concentrations of lithium. Greenbushes Lithium Operations is globally recognized as a high-grade lithium deposit. Further capacity expansions at Greenbushes are in progress.
The Pilgangoora project in Western Australia is the largest in terms of ore reserves.The Mount Marion Lithium and Mount Cattlin mines are the other significant lithium mines operating in Australia.
Lithium production
Global lithium metal production, after registering an estimated decline in 2020 amid declining prices and the COVID-19 pandemic, is expected to recover by 2021. Production from Australia, and Argentina will be significant to the overall growth. In addition, output from Chile is also expected to grow.
Key lithium producer
Albemarle Corporation
Albemarle Corp., which is headquartered in the US, is a global developer, manufacturer and marketer of highly engineered specialty chemicals. The company serves a range of end markets, including petroleum refining, consumer electronics, automotive, steel and aerospace, lubricants, pharmaceuticals, crop protection, household appliances, heating, ventilation, aluminum finishing, food safety and custom chemistry services. Albemarle operates in Americas, Europe, the Middle East, Africa, Australia and Asia.
Other notable lithium producers are:
Switzerland
China
Japan
Luxembourg
South Korea
Japan
United Kingdom
Australia
Japan
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