According to Chilean President Gabriel Boric. The nation’s lithium industry will be nationalised, and a state-owned corporation will be established to produce the metal. Which is a crucial component of the batteries use in electric vehicles. However, It would only be made through state-controlled public-private partnerships. Chile is the second-biggest producer of lithium and has the largest lithium reserves in the world. The following are significant facts about the world’s lithium market.

1. Chile to State-Tie Up its Broad Lithium Industry
According to Chilean President Gabriel Boric. The nation’s lithium industry will
be nationalised, and a state-owned corporation will be established to produce
the metal. Which is a crucial component of the batteries use in electric
vehicles.
However, It would only be made through state-controlled public-private
partnerships. Chile is the second-biggest producer of lithium and has the

2. largest lithium reserves in the world.
The following are significant facts about the world’s lithium market.
Currently, hard rocks or brine mines generate lithium.
Australia is the largest provider in the world and produces from hard rocks
mines. Salt lakes are the main source of production in Argentina, Chile, and
China.
LITHIUM PRODUCTION
The world produced 737,000 tonnes of lithium carbonate’s equivalent (LCE) in
2022. And it is anticipate to reach 964,000 tonnes in 2023 & 1,167,000 tonnes
in 2024, according to the Australian Department of Industries, Science,
Resources and Energy Quarterly Report from March.
Gains in output are anticipate in Australia, Chile, and Argentina to
accommodate rapid expansion.
By Talison Lithium, a partnership between Tianqi Lithium, IGO, and Albemarle
(NYSE:ALB) Corp., in Greenbushes, Western Australia. Currently, 1.34 million
tonnes of chemical- & technical-grade lithium concentrate may be produce
annually.
Spodumene concentrate is produce at Pilgangoora, Western Australia, which
is owne by Pilbara Minerals. Two extensions are currently under construction
to boost annual production capability to one million tonnes.
SHREE METAL PRICES