With the lithium mining and production sectors becoming more prominent with each passing day, numerous companies have hopped aboard the proverbial bandwagon to get their piece of a booming industry that grows exponentially as countries scramble to scrap fossil fuels in favor of renewable power sources for transportation, industry, and everyday living.
While China claims to control a sizable number of the world’s largest lithium holdings, nations like Australia are not far behind. Likewise, recent legislative moves in Canada are set to break the Chinese hold on the industry, ensuring that there’s a piece of the action for companies from other nations.
But who are the front-runners of the lithium industry, and what sets them apart from their competitors? In today’s feature, we present the top fourteen firms currently in operation with a bit of a backgrounder on each one.
Up and Coming Players
At number fourteen is Portuguese firm Grupo Mota, Felmica, which currently runs Europe’s largest lithium mine in Portugal, a facility that is expected to be functional for a full 30 years. Indeed, experts estimate that Portugal has around 60,000 tons worth of lithium reserves.
American firm Piedmont Lithium comes in thirteenth place and is currently developing a world-class integrated lithium enterprise that will enable the United States to both achieve its net-zero goals and establish an economy powered by clean and renewable energy. It is, at present, one of the lowest-cost lithium hydroxide producers in the world, and its location makes it an apt choice to supply the US EV supply chain.
British firm Savannah Resources comes in at number twelve and it is set to become one of the leading lithium suppliers in Europe. Baconara Lithium, on the other hand, stands in eleventh place; the Mexican company is in the process of building its 35,000-ton-annually facility in Mexico’s Sonora region.
Two Australian firms, Alkem and Pilbara Minerals, have respectively taken tenth and ninth place. The former was originally known as Orocobre Limited and, since its merger with Galaxy Resources, now runs numerous initiatives, including a hard-rock mine in Western Australia. The latter, on the other hand, is one of the leading producers in Oceania, with a 2021 revenue of around $176 million.
American firms Lithium Americas Corporation and Livent Corporation are in eighth and seventh place, while Chinese company Sichuan Yahua Industrial Group Ltd. comes in sixth.
Who’s in the Top Five?
The world’s five leading lithium firms are as follows:
- Fifth place: South American firm Sociedad Quimica Y Minera de Chile, one of the biggest lithium producers in the world;
- Fourth place: Australian firm Mineral Resources Ltd.;
- Third place: Sichuan-based Chinese mining and manufacturing firm Tianqi Lithium;
- Second place: Albemarle Corporation of the United States; and
- First place: Jiangxi Ganfeng Lithium Company Ltd., a Chinese company with extensive holdings in Australia, Ireland, and Mexico.
