Anglo faces headwinds in keeping restructuring on track
Anglo has been forced to accelerate its restructuring after successfully holding off a bid from BHP, the world’s biggest miner.
Three countries—Australia, Chile, and China—accounted for 88% of lithium production in 2023.
In this graphic, we list the world’s leading countries in terms of lithium production. These figures come from the latest USGS publication on lithium statistics (published Jan 2024).
Australia, the world’s leading producer, extracts lithium directly from hard-rock mines, specifically the mineral spodumene.
The country saw a big jump in output over the last decade. In 2013, Australia produced 13,000 metric tons of lithium, compared to 86,000 metric tons in 2023.
Chile is second in rank but with more modest growth. Chilean production rose from 13,500 metric tons in 2013 to 44,000 metric tons in 2023. Contrary to Australia, the South American country extracts lithium from brine.
China, which also produces lithium from brine, has been approaching Chile over the years. The country increased its domestic production from 4,000 metric tons in 2013 to 33,000 last year.
Chinese companies have also increased their ownership shares in lithium producers around the globe; three Chinese companies are also among the top lithium mining companies. The biggest, Tianqi Lithium, has a significant stake in Greenbushes, the world’s biggest hard-rock lithium mine in Australia.
Argentina, the fourth country on our list, more than tripled its production over the last decade and has received investments from other countries to increase its output.
With all the top producers increasing output to cover the demand from the clean energy industry, especially for electric vehicle (EV) batteries, the lithium market has seen a surplus recently, which caused prices to collapse by more than 80% from a late-2022 record high.
(This was originally posted on Elements.)
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