With the growing demand for electric vehicles and the development of renewable energy, lithium is rapidly becoming one of the most sought-after minerals on the planet. As such, many of the world’s biggest lithium producers are now vying for a bigger piece of the pie. From China and Australia to the United States and Argentina, more and more countries are making significant investments in lithium mining. Here are seven of the biggest lithium mining companies in 2023, according to their current operations and commitments.
The first among the biggest lithium mining companies in 2023 is China’s Ganfeng Lithium. The company is the largest lithium producer in the world and is responsible for 10% of the global supply. Its main properties are located in China’s famous Sichuan province, with numerous overseas operations in nearby countries, such as Australia. It also has a significant presence in the United States, with two major mines in Nevada.
Australia’s Pilbara Minerals is another major player and the second-largest lithium producer in the world. The company has two operational lithium mines in Western Australia and recently opened a third mining site in the same state. Its focus is on producing higher-grade spodumene concentrates for the battery sector from its sites in Pilgangoora and Willunga.
The third-largest lithium producer among the biggest lithium mining companies in 2023 is the US-based Albemarle Corporation. This Fortune 500 company operates four major lithium projects in the United States, located in Nevada, California and North Carolina. Additionally, it has interests in several other lithium projects outside the United States.
In fourth place is Chile’s SQM, the second-biggest producer in Latin America. Despite a slight decrease in production due to Covid-19, the company has continued operations and is expected to increase production in 2023. Its main lithium property is located in Maricunga, with additional deposits in the Antofagasta region.
China’s Tianqi Lithium rounds out the top five, with operations in Australia, Serbia and China. The company is ramping up production at the Kwinana lithium plant in Western Australia and has also established a joint venture with Chile’s SQM to develop their partnership.
The sixth spot in the list of biggest lithium mining companies in 2023 is China’s Tianrui International. This company is also relatively new to the industry, having recently acquired the Jiangxi Lithium mine in China. This property is the largest of its kind in the world and is estimated to contain more than 20 million tonnes of lithium resources.
Finally, in seventh place is the United Kingdom’s Bacanora Lithium, which is committed to building a world-class lithium mine in Sonora, Mexico. The project is estimated to cost $650 million and is expected to produce over 25,000 tonnes of lithium per year.
These seven biggest lithium mining companies in 2023 represent nearly 60% of the global market share. With the tremendous growth in the demand for lithium, these companies are well-positioned to capitalize on that growth and remain at the top of the industry.