Australia's bid for $2 trillion lithium market

Australia produces more than 60% of the world’s lithium, a key ingredient in electrical vehicles and batteries for smartphones.

And the country is poised to further capitalise on the estimated $2 trillion lithium value chain.

A new report published by the Association of Mining and Exploration Companies (AMEC) outlines how Australia can ensure that our future generations gain economic and social benefits, and become a global player in undertaking greater lithium downstream processing.

The report — ‘A lithium industry in Australia: A value chain analysis for downstreaming Australia’s lithium resources’ — recommends that government and industry work collaboratively to ensure the greatest possible return in a competitive global market.

The Western Australia Government has welcomed the report.

“Western Australia’s lithium reserves, combined with our technical skills, industry capabilities and our close proximity to the manufacturing centres in Asia, make our state well placed to capitalise on the growing needs of the battery market,” said Mines and Petroleum Minister Bill Johnston.

“The McGowan government is committed to supporting investment in lithium and battery materials to create jobs. I’d like to thank AMEC for adding to the research for this emerging industry.”

Western Australian lithium projects that have recently ramped up production include Greenbushes, Mt Caitlin, Mt Marion and Pilgangoora.

Pictured: Figure from the ‘A lithium industry in Australia: A value chain analysis for downstreaming Australia's lithium resources’ report.

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