The Democratic Republic of Congo is full of large reserves of lithium in its basement but not yet in a state of exploitation. Australia’s AVZ Mineral has a major lithium mining project in Manono, Tanganyika province, which could start this year after several months of exploration.
However, while the global industry swears by the energy transition, lithium, like other metals in electric batteries, is coveted. The United States, China and Australia are seeking to control the market for this very strategic metal for the energy transition. while, having no technology,
China’s efforts to ramp up lithium mining could see it account for nearly a third of global supply by the middle of the decade, according to UBS AG.
The bank expects Chinese-controlled mines, including projects in Africa, to increase production to 705,000 tonnes by 2025 from 194,000 tonnes in 2022.
This would increase China’s share of the ore essential for electric vehicle batteries to 32% of global supply, from 24% last year, according to a Friday note.
The race to secure lithium is being played out at the highest level, with nations including the United States prioritizing access to the materials needed to make batteries as the world shifts away from fossil fuels.
China’s needs are particularly acute as it is home to the world’s largest market for new energy vehicles.
China’s increased production will include an increase in materials derived from lepidolite, a lithium-bearing rock often overlooked as low-quality and environmentally unfriendly due to its low yield and high energy costs.
UBS sees lepidolite in China accounting for 280,000 tonnes of lithium in 2025, or 13% of global supply, up from 88,000 tonnes last year, as the government continues to support the sector.
Note that lithium is a crucial mineral for the energy transition. It is a battery component of electric vehicles. It can also be used when creating batteries for wind turbines, solar panels or even for electronic devices. With the climate emergency, lithium is becoming the strategic mineral that the great powers want to control.
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