Aug 13, 2024 04:41 AM

BUSINESS

China Drives African Lithium Surge to Lock in Key Battery Metal

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While Australia, Chile and China are expected to make up about 70% of total supply this year, African mines will help reduce their share to just over half by the end of the decade

While Australia, Chile and China are expected to make up about 70% of total supply this year, African mines will help reduce their share to just over half by the end of the decade

(Bloomberg) — Chinese miners and refiners are driving a surge in African lithium output, shrugging off concerns about a flooded market to ensure future supplies of the critical battery metal.

The continent is projected to account for almost 11% of global supply this year, compared with close to zero at the start of the decade, according to S&P Global Commodity Insights. That is expected to increase to more than 14% by 2028.

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