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Lithium – the Metal of the Future

The age of electric vehicles is coming – and with it an increasing demand for lithium. That’s because electric vehicles use lithium-ion batteries as a source of power.

Automakers and battery makers are scrambling to secure lithium supplies. Analysts expect the demand for lithium to increase over 300% within eight years. Consequently, lithium miners are preparing for the upcoming boom.

Right now, lithium production is concentrated in three countries: Australia, Chile, and Argentina. Other lithium producers include China, Zimbabwe, and Portugal.

Miners in the United States (US) are also entering the playing field to gain from the exploding demand for the element. Nevada is brimming with lithium potential and will soon emerge as one of the largest sources of lithium in the US.

It seems Australia and Chile will remain at the forefront. Australia recently took Chile’s spot as the world’s largest lithium producer due to stellar output from two mines. The Chilean government is confident that it will increase production soon. The country’s main lithium producer Sociedad Química y Minera de Chile (SQM) is expanding its production capacity from 48,000 tonnes to 70,000 tonnes. It aims to produce 100,000 tonnes by 2019.

Despite, an increase in supply over time, most analysts predict that it is unlikely for supply to meet demand, at least over the next few years. Some say this will trigger a price increase and attract investor attention.

On the other end, there are analysts who believe that a lithium oversupply is on its way and that there will be a surplus of lithium in the market, causing the price to fall. The bullish analysts disagree. In fact, SQM, one of the world’s largest lithium producer, said global demand for lithium will continue to grow at rate of roughly 80% annually in the next five years.

Company Spotlight – American Lithium Corp.

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