Lithium is going to become one of the most important natural resources as the usage of lithium ion batteries in storage batteries increases.

A number of factors are driving the demand for lithium, including its use in hybrid vehicles. One of the challenges that is going to face the growth of the EV (electric vehicle) market is the limited supply of lithium globally.

Lithium reserves are concentrated in Latin America, with Chile home to the world’s largest reserves of Lithium. China, Argentina and Australia are also home to major reserves of Lithium.

Prospective regions for future deposits of lithium include Bolivia. Global reserves are estimated to stand at circa 39 million tonnes. Lithium ion batteries are seen as a source of major energy storage for renewable energy projects.