China Becomes the World's Second Largest Country with Lithium Reserves

According to state media, China's lithium reserves have increased from 6% to 16.5% of the global total, making it the largest owner of the second-largest lithium reserves in the world. The world's largest consumer of battery metals heavily relies on lithium imports, and Beijing has been pushing for more domestic exploration in recent years. Lithium is widely used in rechargeable batteries for electronic devices, electric vehicles, and renewable energy storage systems, as well as in ceramics, glass, and pharmaceutical applications.

Reports indicate that newly discovered mines include a 2,800 km long spodumene mine in the Xikunsong-Pan-Ganzi region of Tibet, and several lithium salt lakes in the Qinghai-Tibet Plateau. The report also noted that along with the discovered salt lakes, China hosts the third-largest salt lake resources in the world, following the lithium triangle in South America and Western America. On Wednesday, the most active lithium carbonate contract at the Guangzhou Futures Exchange in China was priced at 77,420 yuan (approximately $10,559.91) per ton, reflecting a 0.4% weekly increase.