China - July 17, 2024

Chinese lithium mines boost production to meet demand growth

(Voice_over)

Chinese lithium mines are ramping up production to meet rising global demand for the silvery-white metal, which is one of the primary raw materials for rechargeable batteries.

At a mine in the eastern city of Yichun, known as the "lithium capital of Asia", roughly 170 tons of lithium carbonate ore are extracted daily.

(Sound_bite)

Zhang Chaozhou, mining engineer, lithium mine:

"Since obtaining the safety production permit in July last year, the mine's operations have gradually normalized. On average, our output of ore and waste rock reaches about 5,000 tons per month. The mine boasts a reserve of over 4.6 million tons."

(Voice_over)

With rising global demand for lithium in the auto and energy storage sectors, the company says they’re rapidly expanding their production capacity to keep up.

(Sound_bite)

Yuan Xiaolin, deputy general manager, mining company:

"Our underground mining cost is approximately 23 U.S. dollars per ton. We are currently expanding our production capacity, which, by 2025, is expected to quadruple that of 2024."

(Voice_over)

According to online market data company Statista, the global demand for lithium is expected to surpass 2.4 million metric tons by 2030, roughly double the forecasted demand for next year.

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