Daily Newsletter

20 November 2023

Daily Newsletter

20 November 2023

New mines and capacity expansions to boost global lithium production over the decade

The addition of the Arcadia Lithium project in 2023 is forecast to further boost construction.

GlobalData November 17 2023

Global lithium production is expected to increase to 170.8 kilotons (kt) in 2023, an increase of 31.3% over 2022, with Australia and Argentina contributing to this growth.

While the restart of operations at the Wodgina lithium mine in June 2022 and the start of the Mount Finniss project in February 2023 will support production in Australia, an expected strong performance from existing mines coupled with the start of new projects will support production in Argentina.

Output in Zimbabwe meanwhile, is expected to grow by 430% in 2023, due to the start of the Zulu project in February 2023, which has an annual production capacity of 15 kilotons.

In addition, the expected start of the Arcadia Lithium project in 2023, which has successfully completed trial production of lithium concentrates in March 2023, will further boost production.

Sociedad Quimica y Minera de Chile SA, Albemarle, Pilbara Minerals, Mineral Resources, Alkem and Livent are among the key lithium-producing companies in the world, together accounting for 100.4 million tonnes, or 77.2%, of the global lithium production in 2022.

Looking ahead, global lithium production is expected to increase at a compound annual growth rate (CAGR) of 13.9% over the forecast period to reach 512.8 kilotons in 2030.

Australia and Argentina will be the key contributors to growth, with an estimated CAGR of 8.4% and 19%, respectively.

AI and its growing role in driving efficiency in mining activities

The AI theme is extremely prominent in mining, with companies desperate to find new methods to improve productivity and minimize costs, while also finding new sources of minerals. AI is already playing a big role; however, its influence will only grow in the years to come. AI enables mining companies to use autonomous machinery and data to improve efficiency and productivity and reduce downtime. AI can help companies better understand the environment and terrain where exploitation is to begin.

Newsletters by sectors


Sign up to the newsletter: In Brief

Your corporate email address *
First name *
Last name *
Company name *
Job title *
Vist our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.