Lithium
CRITICAL MINERAL
BG USA has a key focus in lithium mining and production for various industries.
The oil industry has shaped energy independence, the world is transitioning to clean energy, and critical minerals like lithium are redefining the future of energy independence. Lithium represents one of the strategic elements for the rest of the 21st century due to its increasing demand in technological applications. The global market for lithium metal has been growing rapidly and there are two main sectors driving the price and sales of lithium metal namely, batteries for electric vehicles and storage for clean energy. All are aimed at trying to mitigate global warming, rising pollution levels, co2 emissions, and global temperature. The chemical symbol for Lithium on the periodic table is Li. Lithium is a silvery white to grey alkali metal, highly reactive and when exposed to air, it quickly tarnishes to a dull silvery grey and then black. It is a soft metal with a hardness of less than talc and can float on water due to its low density. It is very reactive with water and potentially explosive when exposed to moist air. However, in nature it is not found as a native element but as compounds that are non-flammable.
CRITICAL MINERAL LITHIUM
Desirable Characteristics
- Has excellent electrical conductivity with low resistivity
- Electronegative metal which makes it ideal for batteries (high energy density)
- High mechanical strength and thermal shock resistance in ceramics and glass
- Lightweight
- Operation over a wide temperature range, temperature range from about 70o C to -40o C,with some capable of performance to 150o C or as low as -80o C.
Global End-User Market Estimations
End Product Markets
ENERGY
Energy Demand Of Lithium
Most of the lithium goes into the batteries that power electronic appliances and electric vehicles. Experts predicted that the world would need 800.000 tons of lithium for battery production only by 2040 (Metalary, 2022). By 2030 lithium-ion batteries would reach 8.6 GWh for transport and automotive applications, and 418 GWh for energy storage applications, and portable electrons will reach an energy demand of 604 GWh (Arnoldi, 2022). Between 2008 and 2018 alone, annual production in the major producing countries rose from 25,400 to 85,000 tons, which is a growth of 59 600 tons. Worldwide lithium production in 2021 increased by 21% to approximately 100,000 tons from 82,000 tons in 2020. Apart from changes in battery technologies, limited supply, and ongoing demand for lithium metal, global lithium has seen prices moving to record highs. Lithium carbonate prices have gained 413% since the start of 2021, while lithium hydroxide prices reached 254% over the same period. Also, lithium resources are expected to be difficult to obtain and control (Liesl and Richardson, 2022).
PRODUCERS
TOP COUNTRIES PRODUCING LITHIUM
Most of the lithium goes into the batteries that power electronic appliances and electric vehicles. Experts predicted that the world would need 800.000 tons of lithium for battery production only by 2040 (Metalary, 2022). By 2030 lithium-ion batteries would reach 8.6 GWh for transport and automotive applications, and 418 GWh for energy storage applications, and portable electrons will reach an energy demand of 604 GWh (Arnoldi, 2022). Between 2008 and 2018 alone, annual production in the major producing countries rose from 25,400 to 85,000 tons, which is a growth of 59 600 tons. Worldwide lithium production in 2021 increased by 21% to approximately 100,000 tons from 82,000 tons in 2020. Apart from changes in battery technologies, limited supply, and ongoing demand for lithium metal, global lithium has seen prices moving to record highs. Lithium carbonate prices have gained 413% since the start of 2021, while lithium hydroxide prices reached 254% over the same period. Also, lithium resources are expected to be difficult to obtain and control (Liesl and Richardson, 2022).
Argentina
55%
Chile
37%
China
5%
Russia
3%