Lithium demand is increasing, how much lithium is left?

Of the approximately 100 million tons of lithium stored in salt lakes and in rocks, around 26 million tons are forecast to be economically mineable. Electromobility and electricity storage for renewable energies are becoming increasingly important and are generating huge demand for lithium. Estimates put demand at over 2,000 GWh in 2030. As recently as 2020, this figure was around 185 GWh. For energy from wind and solar power to be used flexibly, it must be storable. Stationary battery storage will therefore drive-up lithium demand alongside the batteries needed for electromobility. U.S. legislation (Inflation Reduction Act; IRA) requires that half of the critical raw materials used in EV batteries come from North America or U.S. allies by 2024.

This will also attract increased companies to North America. In August 2022, the IRA went into effect. Accordingly, Tesla, for example, has had to change its material sourcing measures. This is because by 2027, as much as 80 percent of battery materials must have been produced in the U.S. or in a partner country, and only then will the full rebate be available. The popular Tesla 3 is now entitled to a tax credit of 7,500 US dollars.

In any case, the demand for lithium is not going to slow down anytime soon. Lithium companies like Targa Exploration or ION Energy should therefore have reason to rejoice.

ION Energy – https://www.commodity-tv.com/ondemand/companies/profil/ion-energy-inc/ – is located in mining-friendly Mongolia with its two lithium projects. In the Northwest Territories in Canada, the company has added another lithium project.

In Quebec, Targa Exploration – https://www.commodity-tv.com/ondemand/companies/profil/targa-exploration-corp/ – takes care of lithium. Recently, lithium projects in Ontario and Saskatchewan were added through the acquisition of Pan Canadian Lithium, which is now a wholly owned subsidiary of Targa Exploration.

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