Lithium Mining Market Analysis by Reserves, Production, Assets, Demand Drivers and Forecast to 2030

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Lithium Mining Market Report Overview

The lithium production increased for the third year in a row to 170.8 thousand tonnes (kt) in 2023 with Australia, Argentina, Zimbabwe, and Brazil being the key contributors. The lithium production is expected to grow marginally at a CAGR of more than 13% over the forecast period.

Currently, brines and hard-rock deposits are the dominant sources of lithium worldwide, of which the former accounts for 66% of the total.

Lithium Mining Market Outlook, 2023 – 2030 (Kt)

Lithium Mining Market Outlook, 2023 – 2030 (Kt)

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The lithium mining market research report provides detailed historical and forecast period data on the global lithium industry. It provides a complete view of the lithium reserves globally, with a breakdown of key lithium mining countries and the prevailing lithium prices in those countries. It also analyzes the competitive business landscape, highlighting company profiles of a few of the major market participants. Furthermore, the report sheds light on the major active mines, as well as upcoming development and exploration projects by region.

Forecast Period 2023-2030
Historical Period 2011-2022
Key Countries ·        Chile

·        Australia

·        Argentina

·        China

·        US

·        Canada

·        Zimbabwe

·        Brazil

Active Mines ·        Greenbushes Lithium Operations

·        Salar de Atacama Mine

·        Mount Marion Lithium Project

·        Salar de Atacama Mine (Albemarle Corporation)

·        Pilgangoora Project

Development Projects ·        Kathleen Valley project

·        Salar de Centenario Ratones Project

·        Goulamina Lithium Project

·        Thacker Pass Lithium Mine

·        Mt Holland Lithium Project

·        Barreiro Mine (Grota Do Cirilo Project Phase 2)

Exploration Projects ·        TLC Project

·        Burro Creek East Project

·        Leaky Bore Project

·        Kamativi Lithium Project

·        Alberta-1 Project

·        Buldania Lithium Project

Leading Companies ·        Sociedad Quimica y Minera de Chile SA (SQM)

·        Albemarle

·        Pilbara Minerals

·        Mineral Resources Ltd

·        Alkem

·        Livent

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Lithium Mining Market Segmentation by Country

According to the US Geological Survey (USGS), global lithium reserves totaled 26.0 million tonnes (Mt) as of January 2023. Chile, Australia, Argentina, China, and the US were the top five countries, accounting for a collective 21.2 Mt of lithium reserves. These were followed by Canada, Zimbabwe, Brazil, and Portugal. In Chile, most of the country’s lithium reserves are found in the Salar Flat of Atacama, which contains the world’s richest deposits of lithium.

Lithium Mining Market Analysis by Countries, 2023 (%)

Lithium Mining Market Analysis by Countries, 2023 (%)

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Lithium Mining Market - Active Mines

A few of the major active lithium mines are Greenbushes Lithium Operations, Salar de Atacama, Mine, Mount Marion Lithium Project, Salar de Atacama Mine (Albemarle Corporation), and Pilgangoora Project among others. Greenbushes, a tantalum, and lithium mine in Western Australia, is the world’s largest hard rock lithium deposit, jointly owned by Albemarle Corp., Tianqi Lithium Corp., and IGO Ltd.

Lithium Mining Market Analysis by Active Mine, 2022 (%)

Lithium Mining Market Analysis by Active Mine, 2022 (%)

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Lithium Mining Market - Development Projects

A few of the major lithium mining projects that are in the development phase include the Kathleen Valley project, the Salar de Centenario Ratones project, the Goulamina Lithium project, the Thacker Pass Lithium mine, Mt Holland Lithium project, and Barreiro Mine (Grota Do Cirilo Project Phase 2) among others.

Kathleen Valley Project: Liontown Resources Ltd owns the Kathleen Valley project, a greenfield project currently undergoing construction works. It has an annual lithium production capacity of up to 760kt and a mine life of up to 23 years. It is set to commence operations in mid-2024.

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Lithium Mining Market - Exploration Projects

A few of the major lithium exploration projects are the TLC Project, Burro Creek East Project, Leaky Bore Project, Kamativi Lithium Project, Alberta-1 Project, and Buldania Lithium Project among others. TLC Project has 1,469 Mt of lithium reserves. The mine was commissioned for operations in 2020.

Lithium Mining Market Analysis by Exploration Projects

Lithium Mining Market Analysis by Exploration Projects

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Lithium Mining Market - Competitive Landscape

Sociedad Quimica y Minera de Chile SA (SQM), Albemarle, Pilbara Minerals, Mineral Resources Ltd, Alkem, and Livent are among the key lithium-producing companies in the world.

Leading Lithium Mining Companies, 2022 (%)

Leading Lithium Mining Companies, 2022 (%)

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Segments Covered in the Report

 Lithium Mining Market Countries Outlook (Value, 2011-2030)

  • Chile
  • Australia
  • Argentina
  • China
  • US
  • Canada
  • Zimbabwe
  • Brazil

Scope

  • Reserves and Production Data: Access detailed information on reserves, reserves by country, production figures, production by country, and production by company.
  • Key Players: Learn about the major players in the industry like Sociedad Quimica y Minera de Chile SA (SQM), Albemarle, Pilbara Minerals, Mineral Resources Ltd, Allkem, and Livent.
  • Country Insights: Discover leading lithium-producing countries such as Chile, Australia, Argentina, China, US, Canada, Zimbabwe, Brazil.
  • Project landscape: Gain insights into lithium explorational and developmental projects, as well as active mines.

Reasons to Buy

  • Understand market trends: Gain a comprehensive understanding of lithium mining by exploring country-wise market dynamics, identifying key assets, and assessing the competitive landscape.
  • Strategic market analysis: Navigate the industry with ease by exploring historical and forecast trends to anticipate market shifts and make forward-looking decisions.
  • Forge valuable partnerships: Identify key players in the lithium mining market and access exclusive information on key stakeholders such as lithium producers, government entities, suppliers, and more.
  • Uncover major projects: Dive into a detailed overview of major active, explorational, and developmental mining projects across various regions.

Sociedad Quimica y Minera de Chile SA (SQM)
Albemarle
Pilbara Minerals
Mineral Resources Ltd
Allkem
Livent

Table of Contents

Overview

Lithium Reserves and Resources

Lithium Production

Lithium Price Analysis

Major Active Mines

Major Development Projects

Major Exploration Projects

Competitive Landscape

Demand and Trade

Appendix

Table

Table 1: Lithium reserves by country (million tonnes), January 2022

Table 2: Active mines in Australia by total ore reserves (million tonnes)

Table 3: Active mines in Argentina by total ore reserves (million tonnes)

Table 4: Active mines in China by total ore reserves (million tonnes)

Table 5: Historical and forecast lithium production (thousand tonnes), 2006–30

Table 6: Lithium mine production by country (thousand tonnes), 2006–30

Table 7: Lithium mine production in Australia (thousand tonnes), 2006–30

Table 8: Lithium mine production in Chile (thousand tonnes), 2006–30

Table 9: Lithium mine production in Argentina (thousand tonnes), 2006–30

Table 10: New Technologies, 2022

Table 11: World lithium hydroxide and spodumene concentrate prices ($/tonne), 2018–24

Table 12: Lithium Pricing Landscape, 2022

Table 13: Key active mines, 2022

Table 14: Key development projects, 2022

Table 15: Key exploration projects, 2022

Table 16: Historical and forecast lithium consumption (thousand tonnes), 2006–30

Table 17: Top lithium carbonate exporters, 2021

Table 18: Top lithium carbonate importers, 2021

Table 19: Production of electric vehicles (thousand units), 2020–36

Table 20: Global EV sales by category (thousand vehicles), 2010–21

Table 21: China EV sales (thousand vehicles), 2010–21

Table 22: EV sales by type by country (thousand units), 2020–21

Table 23: Battery Energy Storage Market, Battery Technology Overview, 2022

Table 24: Major companies and their competitive position within the batteries scheme

Table 25: Major Completed deals in lithium industry, 2022

Table 26: Major Announced deals in lithium industry, 2022

Table 27: Projects count by country and stage, 2022

Table 28: Projects count by company and stage, 2022

Table 29: Albemarle Corporation, Major projects, 2022

Table 30: SQM, Major projects, 2022

Table 31: Ganfeng Lithium Group Co Ltd, capacity planning, 2022

Table 32: Ganfeng Lithium Group Co Ltd, Major projects, 2022

Table 33: Livent Corp, lithium conversion plants, 2022

Table 34: Livent Corp, Major projects, 2022

Table 35: Allkem Ltd, Major projects, 2022

Figures

Figure 1: Lithium reserves by country (million tonnes), 2017 – 22

Figure 2: Lithium reserves by country (%), January 2022

Figure 3: Lithium reserves in Australia, 2022

Figure 4: Historical and forecast lithium production (thousand tonnes), 2006–30

Figure 5: Lithium mine production by country (thousand tonnes), 2020–21

Figure 6: Lithium mine production in Australia (thousand tonnes), 2006–30

Figure 7: Lithium mine production in Chile (thousand tonnes), 2006–30

Figure 8: Lithium mine production in Argentina (thousand tonnes), 2006–30

Figure 9: World lithium hydroxide and spodumene concentrate prices ($/tonne), 2018–24

Figure 10: Lithium demand by end-use (%), 2021

Figure 11: Historical and forecast lithium consumption (thousand tonnes), 2006–30

Figure 12: Top exporters and importers of lithium carbonates, 2021

Figure 13: Global EV sales by category (thousand vehicles), 2010–21

Figure 14: China EV sales (thousand vehicles), 2010–21

Figure 15: EV sales by type by country (thousand units), 2020–21

Figure 16: Chinese EV policy, 2009–22

Figure 17: EV policy in South Korea, India and Japan, 2016–22

Figure 18: Lithium market balance (kt), 2016–30

Figure 19: Projects count by country and stage (%), 2021

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