Investors are betting big on a lithium comeback less than three years after prices of the metal used in rechargeable batteries collapsed.

A report by Wood Mackenzie states that China needs to secure a competitive supply of raw materials to guarantee its clean growth.

The US government is working to help American miners and battery makers expand into Canada, part of a strategy to boost regional production of minerals used to make electric vehicles and counter Chinese dominance.

Earlier this year, Albemarle Corp said it would double production at its facility in Silver Peak, Nevada.

Spearmint's recently completed 10-hole drill program in Nevada discovered lithium in every hole.