Chilean President Gabriel Boric said on Thursday he would nationalize the country lithium industry and set up a state-owned company to produce the metal that is a key component of electric vehicle batteries.
Boric said future lithium contracts will only be issued as a public-private partnership with state control. Chile holds the world’s largest lithium reserves and is the world’s second-largest producer.
The following are key details about the global lithium industry.
Manufacture
Lithium is currently produced from hard rock or brine deposits.
Australia is the world’s largest supplier, with output from hard rock quarries. Argentina, Chile and China mainly produce it from salt lakes.
World production is 737,000 tons Lithium Carbonate equivalent (LCE) in 2022 and is estimated to reach 964,000 tons in 2023 and 1,167,000 tons in 2024, according to the Department’s Quarterly Report on Resources and Energy. Industry, Science and Resources Australia in March.
Rapid growth is forecast to be met by increased production in Australia, Chile and Argentina.
world’s largest mine
green bush, Western Australia, by Talison Lithium (a joint venture of Tianqi Lithium, IGO and Albemarle Corp). Current production capacity stands at 1.34 million tons per year of chemical grade and technical grade lithium concentrate.
pilgrimageWestern Australia, owned by Pilbara Minerals, produces 360,000 to 380,000 tonnes of spodumene concentrate per year, with two expansions underway that will bring production capacity to one million tonnes per year.
Mt CattlinWestern Australia, owned by Allkem, the company formed from the merger of Orocobre and Galaxy Resources, produced 194,000 tonnes of spodumene concentrate by 2022.
MibraMinas Gerais, Brazil, owned by Advanced Metallurgical Group, produces 90,000 tons of spodumene per year, with plans to expand to 130,000 tons by the end of Q2 2023.
Mount MarionWestern Australia, owned by Mineral Resources Ltd, is on track to produce 450,000 to 600,000 tonnes of spodumene as of August 2022, with an expansion target of 900,000 tonnes per year delayed until July 2023.
Salar de AtacamaAntofagasta, Chile, owned by Sociedad Quimica y Minera de Chile (SQM), produces 180,000 tons of lithium carbonate per year and is expected to increase this number to 210,000 by 2024.
Pozuelos-Pastos Grandes lithium salt lake, Argentina, purchased by Ganfeng Lithium, will produce 30,000 tons of lithium carbonate starting in 2024 and is likely to be expanded to 50,000 tons.
Lithium and India
In February, India discovers lithium inferred resources up to 5.9 million tons in the Salal-Haimana area of the Reasi district of Jammu and Kashmir. Mines are in the preliminary exploration stage (also known as G3)
country is plan to auction these lithium mine blocks, around April to June of the year. Indian companies and foreign entities with local subsidiaries can participate in the auction.
The Geological Survey of India (GSI) also conduct exploration in the Panasa-Dugga-Baldhanum-Chakar-Sangarmarg region of the same district in the state. The extractable reserve will be established by the lessee after the Salal-Haimna block auction.
India is also capable of starting lithium exploration work in Himachal Pradesh and Uttarakhand. Exploration activities in the two Mountain States will be undertaken by GSI during the field season – 2023-24. The two countries have been listed as possible destinations for lithium “because of topographic and geological similarities with the Jammu and Kashmir region”.
