In recent decades, the outlook for the global lithium market has shifted substantially; as technology has rapidly advanced, demand for electronic devices, such as smartphones, has grown exponentially. Lithium is a key element in consumer electronics, primarily in the form of lithium-ion batteries, due to this metal’s relatively low weight, long lifetime and high energy density.
As we move into a more digital and technologically driven future, we can expect to only see demand for lithium continue to rise. Taking the example of hybrid cars, which incorporate lithium-ion batteries due to their ability to be rapidly recharged, we can expect to see demand for lithium surge, with global electric vehicle sales projected to almost treble from the 2012 total of 1.2 million to over 3.3 million in 2022. As for smartphones, which rely favor lithium-ion batteries, in 2016, approximately 1.5 billion units were sold to consumers around the world. Just 4 years earlier, 680 million units were sold world worldwide.
It’s clear that this upward trend in lithium demand will increase alongside technological innovation and advancements. There will also, foreseeably, continue to be a dependable demand for lithium from healthcare and drug companies for the metal as, since the 1970s, it has been identified as an effective treatment component for certain illnesses and disorders, such as bipolar disorder.
With manufacturing processes becoming more efficient and innovations in technology occurring constantly, we foresee a positive future for the inclusion of and demand for lithium in consumer electronic devices and for use in other industries.
There are multiple barriers to entry in the lithium mining industry, most importantly the access to large reserves of the metal, specialist international distribution and supply networks, and mining infrastructure and machinery. We at L.T. Extraction works, have already established significantly profitable, highly productive and greatly efficient lithium mining operations, and possess the expertise, networks and apparatus to ensure we can meet demand and continue to maintain our position as a truly global supplier of lithium.
We are committed to economical extraction while meeting the ever growing demand for lithium
Currently, Argentina is home to the third-largest reserves of lithium, with an estimated 45% to 50% of the reserves, importantly, economically extractable