Lithium : the new oil
Lithium is a flexible, silvery-white alkali metal that is highly reactive in the presence of water and oxygen.
It is the lightest of the metals, has a low melting point, and has the highest heat capacity of all the elements.
Lithium comes from a few types of sources, including deposits such as pegmatite, lepidolite, petalite, alkaline brine lakes, or temporary lake evaporation.
It is often used in cell phones and automotive batteries, but when it comes from spodumene, because of its structure, it can be used in ceramics and as a fluxing agent.
Lithium is also used as a coolant in some nuclear reactors, in lubricating grease, air conditioners, glass, drugs and more.
The particularity of lithium :
1- Limited production against high demand :
With demand under stress and limited production capacity, demand for critical metals will quadruple by 2040. While the price of lithium has already reached unprecedented heights.
2- A high price :
The European Union has taken measures to reduce CO2 emissions from cars. In a forced march, manufacturers are switching to the electrification of vehicles. For this, they need batteries, of which lithium is an essential element.
Lithium price has increased fivefold in one year, it became one of the most expensive metals in the world at 45,000 € per tonne at the end of 2021.
3- A rare mineral :
The particularity of lithium is that it is only found in a few places in the world, lithium mines are rare. They are found in Australia and Latin America in significant quantities.
4- Essential for electric batteries :
Lithium is an essential component of electric car batteries in particular. A transition from a gasoline-powered car to an electric car reduces fossil fuel consumption.
5- Technological extraction :
Extraction of Lithium needs technological material and specific equipment, the technologies are sophisticated and require knowledge and equipment
The technic of extraction of Lithium is expensive and requires some specific equipment and qualified employees.
In fact, lithium has now become the most important raw material for the construction of electric car batteries but also extremely popular in the rest of the world for telecommunications, computers, smartphones, cybersecurity…
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