China’s lithium reserves surge, becoming the world’s second-largest holder

Economy

1 year ago

News sources:

Credited from: SCMP

China's lithium reserves have dramatically increased, making it the second-largest holder globally, with a share of 16.5% of total reserves.
The rise is attributed to the discovery of new deposits and advancements in extraction techniques, moving past Australia, Argentina, and Bolivia.
Newly identified resources include a 2,800 km belt of spodumene in Tibet, estimated to hold between 6.5 to 30 million tonnes of lithium.
China aims to reduce its dependence on foreign lithium imports, which has hindered the growth of related industries and increased production costs.
Emerging industries utilizing lithium include energy storage, communications, and medical treatments, potentially stabilizing the global lithium market.