Top 10 lithium mines in the world and lithium reserves countries
Top 10 lithium mines in the world
Sonora lithium project
One of the top 10 lithium mines in the world, the Sonora lithium project in Mexico is the largest lithium deposit being developed by Sonora Lithium (SLL), a joint venture between Bacanora Minerals (77.5%) and Ganfeng Lithium (22.5%). The mine has estimated proved and probable reserves of 243.8Mt, including 4.5Mt of lithium carbonate equivalent (LCE).
The estimated initial mine life is 19 years. Sonora will be an open pit operation planned to be developed in two phases, with the first phase having a lithium carbonate production capacity of 17,500 tonnes per annum (tpa). The second phase will double capacity to 35,000 tons per year.
Thacker Pass lithium project
The Thacker Pass lithium project in top 10 lithium mines in the world is located in Humboldt County, Nevada, United States. It is 100% owned and operated by Lithium Americas. The mine is estimated to contain proven and probable reserves of 179.4Mt containing 3.1Mt of lithium carbonate equivalent (LCE). The mine is expected to have a 46-year life cycle.
The project’s pre-feasibility study (PFS), which was completed in August 2018, proposes a two-stage mine development using the open pit method. The first phase is expected to be put into operation in 2022, with an annual capacity of 30,000 tons of battery-grade lithium carbonate, and the second phase will increase to 60,000 tons, with a production date of 2026.
Wodgina lithium project
One of the top 10 lithium mines in the world, the Wodgina Lithium Project is located 100 kilometers southeast of Port Hedland, Western Australia. The mine was originally 100% owned by Mineral Resources Corporation. In August 2019, the company entered into an agreement with Albemarle Corporation to form a 60:40 joint venture to develop the mine.
The open pit has estimated reserves of 151.94 tonnes grading 1.17% lithium oxide. Construction of the spodumene concentrate plant, which is expected to produce 833,000 wet tonnes (750,000 dry tonnes) of 6% spodumene concentrate per annum at Wodgina when commissioned.
Pilgangoora lithium project
The Pilgangoora lithium project in top 10 lithium mines in the world is located in the Pilbara region of Western Australia. The mine is 100% owned and operated by Pilbara Minerals. Proved and probable reserves at the mine are estimated at 108.2Mt grading 1.25% lithium oxide and 120 ppm Ta2O5 and 1.17% Fe2O3. The project’s Definitive Feasibility Study (DFS) was completed in September 2016 and commercial production was achieved in April 2019.
The mine is expected to produce 320,000 tonnes/year of 6% spodumene concentrate by open pit method. Pilbara Minerals is planning a second phase expansion of the mine, which will increase capacity to 5Mtpa, enabling it to produce 850,000tpa of 6% spodumene concentrate.
Earl Gray lithium project
As one of the top 10 lithium mines in the world, the Earl Gray lithium project, also known as the Mt Holland lithium project, is located in the Forestania Greenstone belt of Mt Holland, Western Australia. It is owned by Kidman Resources (50%) and Sociedad Química y Minera de Chile (SQM, 50%) under a joint venture called Covalent Lithium.
The mine contains estimated proven and probable reserves of 94.5Mt at a grade of 1.5% lithium oxide. The PFS for this project was completed in December 2018, while the DFS is currently underway. The mine is expected to produce 411,233 tonnes of spodumene concentrate per annum over its 47-year mine life after commissioning in 2020.
Greenbushes lithium project
The Greenbushes lithium project is located in Greenbushes, Western Australia. It is owned by Tianqi Lithium in Chinese lithium mining companies and operated by Talison Lithium, which Tianqi Lithium owns 51%. As one of the top 10 lithium mines in the world, the mine contains estimated proven and probable reserves of 86.4Mt grading 2.35% lithium oxide.
It installed two processing plants that produce industrial-grade and chemical-grade lithium concentrates. A second chemical-grade lithium processing plant opened in 2019, which will double the mine’s processing capacity to 1.3Mtpa of lithium concentrate. Construction of the third processing plant started in the third quarter of 2019.
Whabouchi lithium project
The Whabouchi lithium project in top 10 lithium mines in the world is located in the James Bay region of central Quebec, Canada. It is 100% owned and operated by Canadian mining company Nemaska Lithium. The mine is estimated to contain proved and probable reserves of 36.6Mt grading 1.3% lithium oxide.
It is planned to be developed using open pit and underground mining methods over its 33-year mine life. Underground mining will take place in the 26th year after the depletion of the open pit reserves. Wabouchi is expected to produce 205,000 tonnes of concentrate per annum. Construction began in November 2019 after securing financing.
Pilgangoora lithium project
One of the top 10 lithium mines in the world, Altura Mining’s Pilgangoora lithium mine is located in the Pilbara region of Western Australia. The mine contains an estimated Proved and Probable Reserve of 34.2 tonnes at a grade of 1.04% lithium oxide. The mine has an estimated life of 13 years. The open pit operation was developed in two phases. The first phase will be put into operation in early 2019, with an estimated annual output of 220,000 tons of spodumene concentrate.
Altura has completed DFS for the second phase of the mine expansion, which will increase annual production capacity to 440,000 tonnes/year. The second phase is expected to take place following the securing of a long-term off-take agreement and the necessary funding, followed by first production expected within 18 months.
Goulamina lithium project
The Goulamina lithium project is 100% owned and operated by Australian mining company Mali Lithium. It is located in the Bourgogne region in southern Mali and is planned to be developed by open-pit mining. As one of the top 10 lithium mines in the world, The mine has estimated reserves of 31.2Mt at a grade of 1.56% lithium oxide and indicated and inferred resources of 103Mt at a grade of 1.34% Li2O.
The mine is expected to operate for 16 years with a concentrate capacity of 362,000 tonnes/year. Mali Lithium has completed the Pre-Feasibility Study (PFS) for the project and is currently conducting the DFS. The final investment decision for the project was due in the second half of 2020.
Arcadia lithium project
Arcadia lithium project, as one of the top 10 lithium mines in the world, is an open pit mine located 38 kilometers from Harare, Zimbabwe. It is owned and operated by Australian mining company Prospect Resources (now acquired by Huayou Cobalt). The mine is estimated to have proven and probable reserves of 29.8 tonnes grading 1.31% lithium oxide.
The estimated mine life is 12 years with an average annual production of 212,000 tonnes of 6% spodumene concentrate, 216,000 tonnes of petalite concentrate and 188,000 lbs of tantalum per annum. The DFS for this project was completed in November 2018 and the mine is now in production.
Four lithium reserves countries
Lithium, a key component of batteries such as ternary lithium battery and 18650 batteries, and other electronics, is becoming more common around the world, especially rechargeable lithium-ion batteries used in electric vehicle manufacturing and large-scale battery storage.
These manufacturing trends are expected to accelerate in the coming years as the energy transition accelerates, with global demand expected to more than double by 2024. According to the data, it can be divided into four major lithium reserve countries by country/region, namely: Chile, Australia, Argentina and China.
- Chile – 9,200,000 metric tons
Chile was the second-largest lithium producer in 2020 with 18,000 metric tons (MT), but it has the world’s largest reserves. The country reportedly holds most of the world’s economically mineable lithium reserves, with its Salar de Atacama holding about 37% of the world’s lithium reserve base. SQM, a major lithium producer in Chile’s Salar de Atacama, finally struck a long-awaited deal on royalties with the country’s development agency Corfo in 2018. Albemarle is another top lithium producer in Chile.
- Australia – 5,700,000 metric tons
While Australia was the world’s largest lithium producer in 2020, it ranked second in terms of reserves of the vital commodity. The country is home to the Greenbushes lithium project in the top 10 lithium mines in the world, which is run by Talison Lithium, a subsidiary jointly owned by lithium producers Tianqi Lithium and Albemarle and Australian nickel-gold miner IGO. The project is billed as the longest continuously operating mine, having operated for more than 25 years. Greenbushes have been the subject of several expansions in recent years.
- Argentina – 2,200,000 metric tons
Argentina is the world’s fourth-largest lithium producer, producing 6,200 tonnes of lithium in 2020. It also has the third-largest lithium reserves in the world at 2,200,000 tonnes. It is worth noting that Chile, Argentina and Bolivia form the “Lithium Triangle”, which holds more than half of the world’s lithium reserves. The Argentine government recently pledged to invest up to $1 billion in its lithium industry over the next three years, with the goal of increasing lithium production.
- China – 1,500,000 metric tons
China has 1,500,000 tons of lithium reserves and produced 14,000 tons of lithium in 2020. This was 3,200 metric tons more than the previous year. For now, China still imports most of the lithium it needs from Australia, but increasing Chinese production could end that dependence. Lithium consumption in China is high due to electronics manufacturing and electric vehicle industries. China also produces nearly two-thirds of the world’s lithium-ion batteries and controls most of the world’s lithium processing facilities.
- Other countries lithium reserves
While Chile, Australia, Argentina and China have some of the highest lithium reserves in the world, other countries also hold significant amounts of the metal. The following are lithium reserves in other countries:
- United States — 750,000 metric tons
- Canada — 530,000 metric tons
- Zimbabwe — 220,000 metric tons
- Brazil — 95,000 metric tons
- Portugal — 60,000 metric tons
Overall, total lithium reserves worldwide are 19,155,000 metric tons. If the lithium industry continues to grow, global lithium production for top 10 lithium mines in the world will need to follow, and perhaps some of these countries with high reserves will become more important players.
