Those interested in the lithium sector and investing in lithium stocks are often curious about which countries produce the most of the battery metal, but they may not stop to consider the top lithium reserves by country.
Major lithium-producing countries are, of course, home to a large number of lithium companies. Many of the world’s top lithium producers also hold significant reserves, and their reserves can give an idea of how much room those countries have to grow. At the same time, nations with high reserves may become more significant lithium players in the future.
Looking forward, lithium demand is expected to continue increasing. That’s because, together with metals such as cobalt, lithium is a key raw material in the lithium-ion batteries used to power electric vehicles; it is also essential for the energy storage sector. However, lithium supply to meet that increasing demand is still uncertain.
Lithium reserves: 9,300,000 MT
Lithium reserves: 4,800,000 MT
Interestingly, while Australia was the largest lithium-producing country in the world in 2023, it’s a distant second in terms of reserves of the important commodity. Unlike those found in Chile and Argentina, Australia’s lithium reserves are in the form of hard-rock spodumene deposits. The majority of the country’s reserves are found in Western Australia.
Lithium reserves: 3,600,000 MT
Argentina is the fourth largest lithium producer in the world, and last year it put out 9,600 MT of the metal. It ranks third in terms of global lithium reserves at 3,600,000 MT. It’s worth noting that Chile, Argentina and Bolivia comprise the “Lithium Triangle,” which hosts more than half of the world’s lithium reserves.
Lithium reserves: 3,000,000 MT
While it does have significant production and is working to increase it, the Asian nation currently still imports most of the lithium it needs for its battery cells from Australia.
Total worldwide lithium reserves stand at 28,000,000 MT. While Chile, Australia, Argentina and China are home to the world’s highest lithium reserves, other countries also hold significant amounts of the metal.
Here’s a quick look at these other nations:
As the lithium industry continues to grow, production has followed, and many of these countries with high reserves are becoming significant producers as well.
Chile has the largest lithium reserves, and the three countries that make up the Lithium Triangle — Argentina, Bolivia and Chile — together account for more than 63 percent of the world’s lithium reserves.
Portugal has the biggest lithium reserves in Europe, coming in at 60,000 MT. The Southern European country produced 380 MT of lithium in 2023, the same as the previous year.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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