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Released August 26, 2022 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--If all the world's governments lived up to their climate change pledges and promises, demand for lithium would rise sixfold to 500 kilotons by 2030, requiring the equivalent of 50 new average-sized mines.
This rather startling assessment comes from a recent report by the International Energy Agency (IEA) (Paris, France), blandly named Global Supply Chains of EV Batteries.
Among other things, the report highlights the vital role of lithium in the supply chain for electric vehicle (EV) batteries.
Industrial Info is tracking more than 250 lithium mineral mining projects across the globe, valued at more than $47 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports.
Click on the image at right for a chart showing lithium mineral mining project investments in the top 10 countries.
Under the IEA's "Announced Pledges Scenario," the supply of some minerals such as lithium would need to rise by up to one-third by 2030 to satisfy the pledges and announcements for EV batteries. The scenario aims to show to what extent the announced ambitions and targets, including the most recent ones, are on the path to deliver emissions reductions required to achieve net zero emissions by 2050.
To be sure, the likelihood of all countries achieving these goals should be taken with a grain of salt.
That's why the IEA has put out other scenarios, such as the "Stated Policies Scenario." This scenario, according to the agency, "provides a more conservative benchmark for the future, because it does not take it for granted that governments will reach all announced goals. Instead, it takes a more granular, sector-by-sector look at what has actually been put in place to reach these and other energy-related objectives, taking account not just of existing policies and measures but also of those that are under development."
For example, the projected mineral supply (including lithium) "until the end of the 2020s is in line with the demand for EV batteries."
Still, "additional investments are needed in the short term, particularly in mining, where lead times are much longer than for other parts of the supply chain--in some cases requiring more than a decade from initial feasibility studies to production, and then several more years to reach nominal production capacity."
The three most critical metals for lithium-ion batteries are lithium, cobalt and nickel. Lithium demand has almost doubled since 2017 to 80 kilotons in 2021, of which demand for EV batteries accounts for 47%, up from 36% in 2020 and only 20% in 2017, according to the report. That demand will continue to grow. Demand for EV batteries will increase from around 340 gigawatt-hours (GWh) at present to more than 3,500 GWh by 2030 under the Announced Pledges Scenario.
In the U.S., one of the most substantial lithium mining projects in the planning stages is Standard Lithium Limited's (NYSE:SLI) (Vancouver, British Columbia) brownfield Southwest Smackover Lithium Mine and Extraction Project in southwest Arkansas. Located on 33,000 acres of brine leases along the Arkansas Smackover Formation, the in-situ operation would use the company's proprietary LiSTR direct lithium-extraction technology to produce 30,000 tons per year of battery-grade lithium hydroxide monohydrate over a 20-year mine life.
Standard Lithium's LiSTR technology "uses a solid ceramic adsorbent material with a crystal lattice that is capable of selectively pulling lithium ions from the Smackover brine," according to the company. "The ceramic adsorbent materials are mounted in stirred-tank reactors that contain the tail brine. In the second step, the adsorbent releases the lithium for recovery."
Construction kickoff is planned for third-quarter 2023, with completion in second-quarter 2025. Subscribers can click here for the project report.
Argentina and Chile are among the hotspots for new lithium mining projects. Projects under construction include Phase I of Lithium Americas Corporation's (NYSE:LAC) (Vancouver, British Columbia) Cauchari-Olaroz Brine Extraction & Lithium Processing Mine in Argentina. Slated for completion in October, the facility will initially produce 40,000 tons per year of lithium carbonate over a 40-year mine life. For more information, subscribers can click here.
Also under construction in Argentina is Allkem Limited's (Brisbane, Australia) Sal de Vida A-G Brine Extraction and Lithium Potash Processing Plant. Planned for completion in third-quarter 2023, the 1.74-million-ton-per-year brine extraction facility will produce 15,000 tons per year of lithium carbonate over a 40-year mine life. Subscribers can click here for more information.
In Chile, Sociedad Quimica y Minera de Chile SA (SQM) (Santiago, Chile) is constructing the Salar del Carmen Lithium Carbonate Processing Plant Expansion Phase III. Planned for completion in fourth-quarter 2022, the expansion will increase the site's processing capacity to 180,000 tons per year of lithium carbonate. Subscribers can click here for more information.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
This rather startling assessment comes from a recent report by the International Energy Agency (IEA) (Paris, France), blandly named Global Supply Chains of EV Batteries.
Among other things, the report highlights the vital role of lithium in the supply chain for electric vehicle (EV) batteries.
Industrial Info is tracking more than 250 lithium mineral mining projects across the globe, valued at more than $47 billion. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports.
Under the IEA's "Announced Pledges Scenario," the supply of some minerals such as lithium would need to rise by up to one-third by 2030 to satisfy the pledges and announcements for EV batteries. The scenario aims to show to what extent the announced ambitions and targets, including the most recent ones, are on the path to deliver emissions reductions required to achieve net zero emissions by 2050.
To be sure, the likelihood of all countries achieving these goals should be taken with a grain of salt.
That's why the IEA has put out other scenarios, such as the "Stated Policies Scenario." This scenario, according to the agency, "provides a more conservative benchmark for the future, because it does not take it for granted that governments will reach all announced goals. Instead, it takes a more granular, sector-by-sector look at what has actually been put in place to reach these and other energy-related objectives, taking account not just of existing policies and measures but also of those that are under development."
For example, the projected mineral supply (including lithium) "until the end of the 2020s is in line with the demand for EV batteries."
Still, "additional investments are needed in the short term, particularly in mining, where lead times are much longer than for other parts of the supply chain--in some cases requiring more than a decade from initial feasibility studies to production, and then several more years to reach nominal production capacity."
The three most critical metals for lithium-ion batteries are lithium, cobalt and nickel. Lithium demand has almost doubled since 2017 to 80 kilotons in 2021, of which demand for EV batteries accounts for 47%, up from 36% in 2020 and only 20% in 2017, according to the report. That demand will continue to grow. Demand for EV batteries will increase from around 340 gigawatt-hours (GWh) at present to more than 3,500 GWh by 2030 under the Announced Pledges Scenario.
In the U.S., one of the most substantial lithium mining projects in the planning stages is Standard Lithium Limited's (NYSE:SLI) (Vancouver, British Columbia) brownfield Southwest Smackover Lithium Mine and Extraction Project in southwest Arkansas. Located on 33,000 acres of brine leases along the Arkansas Smackover Formation, the in-situ operation would use the company's proprietary LiSTR direct lithium-extraction technology to produce 30,000 tons per year of battery-grade lithium hydroxide monohydrate over a 20-year mine life.
Standard Lithium's LiSTR technology "uses a solid ceramic adsorbent material with a crystal lattice that is capable of selectively pulling lithium ions from the Smackover brine," according to the company. "The ceramic adsorbent materials are mounted in stirred-tank reactors that contain the tail brine. In the second step, the adsorbent releases the lithium for recovery."
Construction kickoff is planned for third-quarter 2023, with completion in second-quarter 2025. Subscribers can click here for the project report.
Argentina and Chile are among the hotspots for new lithium mining projects. Projects under construction include Phase I of Lithium Americas Corporation's (NYSE:LAC) (Vancouver, British Columbia) Cauchari-Olaroz Brine Extraction & Lithium Processing Mine in Argentina. Slated for completion in October, the facility will initially produce 40,000 tons per year of lithium carbonate over a 40-year mine life. For more information, subscribers can click here.
Also under construction in Argentina is Allkem Limited's (Brisbane, Australia) Sal de Vida A-G Brine Extraction and Lithium Potash Processing Plant. Planned for completion in third-quarter 2023, the 1.74-million-ton-per-year brine extraction facility will produce 15,000 tons per year of lithium carbonate over a 40-year mine life. Subscribers can click here for more information.
In Chile, Sociedad Quimica y Minera de Chile SA (SQM) (Santiago, Chile) is constructing the Salar del Carmen Lithium Carbonate Processing Plant Expansion Phase III. Planned for completion in fourth-quarter 2022, the expansion will increase the site's processing capacity to 180,000 tons per year of lithium carbonate. Subscribers can click here for more information.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
