Explanation:

Only statement 2nd is incorrect.

Lithium Metal

• It is a soft, silvery-white alkali metal. Under standard conditions, it is the lightest metal and the lightest solid element.
• Lithium metal is isolated electrolytically from a mixture of lithium chloride and potassium chloride.
• Like all alkali metals, lithium is highly reactive and flammable, and must be stored in mineral oil. When cut, it exhibits a metallic luster, but moist air corrodes it quickly to a dull silvery gray, then black tarnish.

Recently India has inked a pact with an Argentine firm to jointly prospect lithium in the South American country.

• Australia and Chile are world’s leading lithium-producing country over the past decade.
• At the same time both the nations are top 2 countries that hold abundant lithium resources, where Chile has 55.5% of world’s lithium reserves and Australia has 18.1%, where Argentina (11%) has 3rd largest reserves of the metal.

Hence option 2nd is correct.