Lithium Deposit Discovery In U.S. Could Challenge China’s Dominance Over Metal Market

Up to 40 million tons of lithium metal was discovered in a volcanic crater along the border of Nevada and Oregon. Reports say this lithium deposit discovery could challenge China’s attempt to dominate the market for metals.

The monthly magazine “Chemistry World” of the Royal Society of Chemistry recently reported that up to 40 million tons of lithium metal was discovered in a volcanic crater along the border of Nevada and Oregon. Reportedly, the metal was formed around 16 million years ago.

According to King, the lithium deposit discovery was specifically located in Thacker Pass Lithium Mine, a lithium mining project in Humboldt County, Nevada. Further reports say the recent lithium deposit discovery was notably larger than the lithium reserves in a salt flat in Bolivia, which was previously recognized as the largest in the world.

This suggests that the recent lithium deposit discovery in the U.S. may be the largest in the world and could challenge China’s attempt to dominate the market for metals as the demand increases for lithium used in electronic production.

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China As Lithium Producer

According to Hubbard, in 2020, China was in charge of 80% of the world’s refining procedure of raw materials. Despite having only 7.9% of the world’s lithium reserves, China was recognized as the third-largest lithium producer. In addition, Beijing has reportedly been acquiring stakes in mines as part of a pursuit to control one-third of the world’s supply of lithium.

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