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Recently, the Serbian Government cancelled licenses for a major lithium project, which is owned by Anglo-Australian miner Rio Tinto Plc.
How is lithium Produced?
Currently, Lithium is produced from hard rock or brine mines. Australia is the world’s biggest supplier, producing from hard rock mines. On the other hand, countries like Argentina, Chile, and China mainly produce lithium from salt lakes. In December 2021, total global production was forecast at 485,000 tonnes, increasing to 615000 tonnes in 2022 and 821000 tonnes in 2023.
Prices of Lithium
Lithium carbonate prices have reached to record highs in past year because of strong demand from Chinese battery makers. According to global top 10 producer Allkem, price is expected to jump to around Rs. 15 lakh per tonne by June 2022, around 80% more than half-year to December 2021.
Which is the World’s biggest mine?
Lithium is a chemical element, having symbol Li and atomic number 3. It is a soft and silvery-white alkali metal. It is the least dense metal and least dense solid element. It is highly reactive and flammable. It must be stored in vacuum, inert atmosphere or inert liquid like purified kerosene or mineral oil. It also exhibits a metallic lustre.
By: Brijesh Kumar ProfileResourcesReport error
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