China’s efforts to ramp up lithium extraction could see it accounting for nearly a third of the world’s supply by the middle of the decade - UBS EV criticalminerals supplychains China Africa
China’s efforts to ramp up lithium extraction could see it accounting for nearly a third of the world’s supply by the middle of the decade, according to UBS.
The bank expects Chinese-controlled mines, including projects in Africa, to raise output to 705 000 t by 2025, from 194 000 t in 2022. That would lift China’s share of the mineral critical to electric-vehicle batteries to 32% of global supply, from 24% last year, according to a note on Friday.The race to secure lithium is playing out at the highest levels, with nations including the US prioritising access to the materials necessary for making batteries as the world turns away from fossil fuels.
The rise in Chinese output will include an increase in material derived from lepidolite, a lithium-bearing rock often overlooked as poor quality and environmentally unsound because of its low yield and high energy costs. UBS sees lepidolite in China accounting for 280 000 t of lithium in 2025, or 13% of global supply, from 88 000 t last year, as the government continues to support the sector.
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