El Lithium In just a few years, it has gone from being a relatively unknown element to becoming one of the most strategic resources in the world. Its special properties, such as its ability to store large amounts of Energy, have placed it at the center of several key industries seeking to reduce their dependence on oilLithium is not only vital to modern technology, but is also a fundamental pillar for renewable energy and electromobility.
The importance of lithium in the global economy
Lithium has gained considerable relevance due to its growing demand in the technological industry, especially in the manufacture of batteries lithium-ion batteries for electronic devices and, most notably, for Power Plants (VE). The global energy transition has made this element a fundamental pillar for the automotive industry, which seeks to reduce CO2 emissions by adopting cleaner technologies.
Rising demand has driven lithium prices up in recent years. In 2021 and 2022, they rose almost ninefold, driven by the growth of the electromobility and renewable energy. According to the International Energy Agency, lithium demand could increase 42-fold by 2040 under a sustainable development scenario.
Properties and applications of lithium
Lithium is the lightest of all metals and has a high specific heat, making it an ideal element for storing energy. It is essential in:
- Lithium ion batteries, which are essential for electronic devices such as laptops, mobile phones, cameras and portable power tools.
- Electric and hybrid vehicles. Cars with lithium batteries do not emit CO2 during use, helping to reduce global emissions and promote sustainable mobility.
- Medicine and ceramicsAlthough less visible, lithium compounds are also used in the manufacture of heat-resistant ceramics and in treatments for bipolar disorders.
The future of this mineral is still being investigated, and its use is expected to continue to expand into new industrial applications.
World lithium reserves
The world lithium reserves They are concentrated in deserts and arid areas of South America, specifically in the Lithium Triangle, formed by Bolivia, Argentina and Chile. This triangle is home to approximately 56% of the world's lithium resources. In addition, other important countries in terms of reserves include China and Australia.
Of the South American countries, Bolivia has the largest untapped reservesChile, on the other hand, is the world's second largest producer, with a significant share of the global lithium market. To a lesser extent, Argentina has established itself as an emerging player, having significantly increased its production in recent years.
Lithium is mainly extracted from two sources: brine (in salt flats) y hard rock (pegmatites)Brine deposits are found in the salt flats of South America, while pegmatites predominate in Australia.
According to the latest report from the US Geological Survey, Chile holds 41% of global reserves, while Australia has 25,4% and Argentina 9,8%. There are also smaller amounts of lithium in Brazil, Mexico, Peru and other countries.
Extraction and environmental impact
While lithium is vital to the transition to a green economy, its extraction is not without controversy, especially regarding its environmental impact. Lithium extraction from salt flats uses large amounts of water, an extremely valuable resource in the arid areas where the deposits are located. In places such as the Salar de Atacama (Chile), up to 1000 tons of lithium are extracted. 21 million liters of water per day lithium production alone. This has led to water shortages in local communities and affected biodiversity, including endangered species such as flamingos.
Another method of extraction is from hard rock (pegmatites), but this method is more energy-intensive and also generates more greenhouse gas emissions. In comparison, lithium extraction from salt flats emits approximately 7,8 times less greenhouse gases than hard rock mining.
It is crucial to implement stricter regulations to minimize the environmental impact of the lithium industry. In this regard, the ECLAC report highlights the need to establish regulatory frameworks that guarantee the social and environmental sustainability of these projects.
The Lithium Triangle and its future potential
the so-called Lithium Triangle It groups Argentina, Bolivia and Chile, positioning itself as the most important region in terms of lithium resources. These three countries concentrate more than 62% of the world lithium resources, which gives them a crucial role in the development of the global green economy.
In this context, while Chile has led production for decades, Argentina has recently experienced a boom in its exports, reaching record figures, and Bolivia has the greatest untapped potential, although it faces challenges in terms of infrastructure.
The governments of these countries are promoting more sustainable extraction models and greater participation of their economies in the lithium value chain. In Chile, for example, there is a transition from a privatized model to a more public-private cooperation, while in Argentina, each province negotiates contracts and extraction rates separately.
The global lithium market
The global lithium market has been dominated in recent years by Australia, Chile, Argentina and China. In terms of demand, most of it comes from Asian countries, with China, South Korea and Japan the main importers of lithium.
Lithium use grew from about 25 tons in 1900 to more than 100.000 tons in 2021. With growth projections that estimate a production of 400.000 tons by 2030, the lithium industry is positioned as one of the most important for future global development.
Between 2021 and 2022, a exponential rise in lithium prices, multiplying its value several times. This has meant a substantial increase in exports from countries such as Argentina and Chile.
Demand for lithium is projected to continue to outstrip supply in the coming years, putting pressure on producers to expand their operations and on governments to establish regulations that balance economic development with respect for the environment and local communities.
Lithium has emerged as one of the most strategic resources of the 21st century. Its key role in the energy transition and electromobility make it an essential element for sustainable development. However, its extraction poses socio-environmental challenges that must be urgently addressed to ensure that this mineral contributes to global development without compromising the well-being of communities and the environment.