Mergers and acquisitions are frequent within the lithium area, with the most important information within the trade just lately being Rio Tinto’s (ASX:RIO,NYSE:RIO,LSE:RIO) acquisition of Arcadium Lithium for US$6.7 billion in March of this 12 months. The acquisition transforms Rio Tinto into a worldwide chief in lithium manufacturing with one of many world’s largest lithium useful resource bases.
As for Chile, the nation’s lithium panorama is altering following the December 2024 announcement that as part of its Nationwide Lithium Technique towards public-private partnerships, the authorities opened up the method of assigning particular lithium operation contracts to a complete of 12 precedence areas.
All in all, lithium buyers have rather a lot to keep watch over because the area continues to shift. Learn on for an outline of the present prime lithium-producing corporations by market cap. Knowledge was present as of April 4, 2025.
Largest lithium-mining shares
1. Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO)
Market cap: US$99.83 billion
Share value: AU$112.70
Rio Tinto, a worldwide powerhouse within the useful resource sector for many years, is usually identified for its iron and copper manufacturing. Nevertheless, lately, the mining large has been increasing its place on the planet’s lithium market.
In March 2025, the corporate cemented its place as one of many greatest lithium-producing corporations on the planet with the US$6.7 billion all-cash acquisition of Arcadium Lithium, the lithium large fashioned after the US$10.6 billion merger of lithium majors Allkem and Livent.
Following the acquisition, Rio Tinto is consolidating Arcadium’s portfolio with its personal lithium initiatives beneath the identify Rio Tinto Lithium. Arcadium’s portfolio contains the Salar del Hombre Muerto and Olaroz lithium brine operations in Argentina, in addition to the Mount Cattlin hard-rock mine in Western Australia, which is coming into care and upkeep within the second half of this 12 months. It additionally has lithium hydroxide manufacturing capability within the US, Japan and China.
On the time, Rio Tinto mentioned it’ll enhance its lithium carbonate equal manufacturing capability to over 200,000 metric tons (MT) yearly by 2028.
Lithium acquisitions should not new to Rio Tinto. In 2022, it acquired the Rincon challenge in Argentina from Rincon Mining. Rincon has an anticipated annual capability of 53,000 MT of battery-grade lithium carbonate over a 40 12 months mine life, though Rio Tinto plans to develop manufacturing on the web site to 60,000 MT per 12 months. A pilot battery-grade lithium carbonate plant is scheduled for completion in H1 2025.
As of March 2025, Rio Tinto can also be reportedly in talks to develop the Roche Dure lithium deposit within the Democratic Republic of Congo, one of many world’s largest hard-rock lithium deposits.
Market cap: US$10.93 billion
Share value: US$37.05
SQM has 5 enterprise areas, starting from lithium to potassium to specialty plant vitamin. Its major lithium operations are in Chile, the place it’s a longtime producer, and it is usually working to convey manufacturing on-line in Australia.
In Chile, SQM sources brine from the Salar de Atacama; it then processes lithium chloride from the brine into lithium carbonate and hydroxide at its Salar del Carmen lithium crops positioned close to Antofagasta.
Chile’s aforementioned Nationwide Lithium Technique has created some uncertainty for SQM, however the authorities has acknowledged that it’s going to respect its present contracts, which run by 2030. In Might 2024, the state-owned mining firm Codelco and SQM fashioned a three way partnership by which Codelco will maintain a 50 p.c stake plus one share to present it majority management. As of 2031, the state will start receiving 85 p.c of the working margin of the brand new manufacturing from SQM’s operations.
Exterior of South America, SQM owns and operates the Mount Holland lithium mine and concentrator in Australia; the mine hosts one of many world’s largest hard-rock deposits. Mount Holland is a three way partnership with Wesfarmers (ASX:WES,OTC Pink:WFAFF), which took over Australian lithium-mining firm Kidman Sources in 2019.
Total, the corporate sees its whole gross sales volumes from all its lithium operations rising by 15 p.c this 12 months.
SQM has a long-term provide deal with Hyundai (KRX:005380) and Kia (KRX:000270) to supply lithium hydroxide for electrical automobile batteries from its future lithium hydroxide provide. SQM additionally has provide agreements with Ford Motor Firm (NYSE:F) and LG Vitality (KRX:373220).
3. Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460,HKEX:1772)
Market cap: US$7.5 billion
Share value: US$2.51
Based in 2000 and listed in 2010, Ganfeng Lithium has operations throughout your complete electrical automobile battery provide chain. Although it’s comparatively new in comparison with some corporations on the checklist, Ganfeng has grow to be one of many world’s largest producers of each lithium metals and lithium hydroxide. This is because of its technique of investing closely in abroad initiatives to safe long-term lithium sources, with its first such funding in 2014.
Ganfeng has pursuits in lithium sources world wide, from Australia to Argentina, China and Eire; its operations embody a 50/50 three way partnership with Mineral Sources for the Mount Marion mine in Western Australia. In Argentina, the corporate has 51 p.c stake in Lithium Americas’ (TSX:LAC,NYSE:LAC) Caucharí-Olaroz lithium brine challenge.
Ganfeng has a controlling curiosity in Mexico-focused Bacanora Lithium and its Sonora lithium challenge; it additionally has a 50 p.c stake in a lithium mine in Mali, in addition to a 49 p.c stake in a salt lake challenge in China owned by China Minmetals. It owns the non-public firm LitheA, which holds the rights to 2 lithium salt lakes in Argentina’s Salta province.
Ganfeng bought Leo Lithium’s (ASX:LLL,OTC Pink:LLLAF) Goulamina challenge in Mali in Might 2024 and introduced it into manufacturing in December. Goulamina has a mine capability of 506,000 MT of spodumene per 12 months. The corporate’s objective is to double that capability to 1 million MT per 12 months.
In February 2025, Ganfeng introduced its US$790 million Mariana challenge in Argentina into manufacturing. The Mariana mine is located on the Llullaillaco salt flat, and has the capability to supply 20,000 MT of lithium chloride per 12 months.
Ganfeng has provide offers with corporations similar to Tesla (NASDAQ:TSLA), BMW (OTC Pink:BMWYY,ETR:BMW), Korean battery maker LG Chem (KRX:051910), Volkswagen (OTC Pink:VLKAF,FWB:VOW) and Hyundai.
Market cap: US$6.92 billion
Share value: US$58.88
North Carolina-based Albemarle is dividing into two major enterprise items, certainly one of which — the Albemarle Vitality Storage unit — is targeted wholly on the lithium-ion battery and power transition markets. It contains the agency’s lithium carbonate, hydroxide and metallic manufacturing.
Albemarle has a broad portfolio of lithium mines and services, with extraction in Chile, Australia, China and the US. Trying first at Chile, Albemarle produces lithium carbonate at its La Negra lithium conversion crops, which course of brine from the Salar de Atacama, the nation’s largest salt flat. Albemarle is aiming to implement direct lithium extraction know-how on the salt flat to cut back water utilization.
Albemarle’s Australian property contains the MARBL three way partnership with Mineral Sources (ASX:MIN,OTC Pink:MALRF). The 50/50 JV owns and operates the Wodgina hard-rock lithium mine in Western Australia. Albemarle wholly owns the on-site Kemerton lithium hydroxide facility. The corporate’s different Australian three way partnership is the aforementioned Greenbushes mine, by which it holds a 49 p.c curiosity alongside Tianqi and IGO.
As for the US, Albemarle owns the Silver Peak lithium brine operations in Nevada’s Clayton Valley, which is at the moment the nation’s solely supply of lithium manufacturing. In its dwelling state of North Carolina, Albemarle is planning to convey its past-producing Kings Mountain lithium mine again on-line, topic to allowing approval and a last funding resolution. The mine is anticipated to supply round 420,000 MT of lithium-bearing spodumene focus yearly.
Albemarle has obtained US$150 million in funding from the US authorities to help the constructing of a commercial-scale lithium concentrator facility on web site. The US Division of Protection has given the corporate a US$90 million crucial supplies award to spice up its home lithium manufacturing and help the nation’s burgeoning EV battery provide chain.
5. Tianqi Lithium (SZSE:002466,HKEX:9696)
Market cap: US$6.61 billion
Share value: 30.26 Chinese language yuan
Tianqi Lithium, a subsidiary of Chengdu Tianqi Trade Group, is the world’s largest hard-rock lithium producer. The corporate has property in Australia, Chile and China. It holds a major stake in SQM.
In Australia, Tianqi, as talked about, has a major place within the Greenbushes mine and Kwinana lithium hydroxide plant by the Tianqi Lithium Vitality Australia JV with IGO. The hydroxide plant, which is among the world’s largest absolutely automated battery-grade lithium hydroxide services, processes feedstock from Greenbushes with a capability of 24,000 MT per 12 months.
Building work for the Part 2 growth at Kwinana, which might have doubled its capability, was terminated in January 2025 as a result of present low-price surroundings for lithium making it economically unviable.
Tianqi Lithium Vitality Australia up to date the whole mineral sources at Greenbushes in February 2025 to 440 million MT at a mean grade of 1.5 p.c lithium oxide, and its whole ore reserve estimate to 172 million MT grading 1.9 p.c lithium oxide.
In March 2025, Tianqi Lithium introduced collaborations with plenty of tutorial analysis establishments together with the Institute for Superior Supplies and Expertise of the College of Science and Expertise Beijing on the analysis and growth of next-generation solid-state battery supplies and know-how.
6. PLS (ASX:PLS,OTC Pink:PILBF)
Market cap: US$2.92 billion
Share value: AU$2.92
PLS, previously named Pilbara Minerals, operates its one hundred pc owned Pilgangoora lithium-tantalum asset in Western Australia. The operation entered business manufacturing in 2019 and consists of two processing crops: the Pilgan plant, positioned on the northern facet of the Pilgangoora space, which produces a spodumene focus and a tantalite focus; and the Ngungaju plant, positioned to the south, which produces a spodumene focus.
PLS has just lately accomplished just a few crucial growth initiatives at Pilgangoora. Its P680 growth, for a major rejection facility and a crushing and ore-sorting facility, was accomplished in August 2024. The P1000 growth, concentrating on a spodumene manufacturing enhance on the web site to 1 million MT per 12 months, was accomplished in January 2025 forward of schedule and inside finances. The corporate says the ramp-up to full capability is anticipated to be accomplished within the third quarter of 2025.
PLS and its three way partnership associate Calix are growing a midstream demonstration plant at Pilgangoora utilizing Calix’s electrical kiln know-how to cut back the carbon footprint of spodumene processing, reducing transport volumes and enhancing value-add processing on the mine. After garnering a AU$15 million grant from the Western Australian Authorities, development of the challenge is anticipated to be accomplished within the fourth quarter of 2025.
The corporate made a transfer to develop its footprint in Brazil in August 2024 with the acquisition of Latin Sources (ASX:LRS,OTC Pink:LRSRF) and its Salinas lithium challenge. The challenge’s useful resource estimate, which covers the Colina and Fog’s Block deposits, stands at 77.7 million MT at 1.24 p.c lithium oxide. The AU$560 million deal was accredited by the Western Australia Authorities in January 2025.
PLS and three way partnership associate POSCO (NYSE:PKX) launched South Korea’s first lithium hydroxide processing plant in late 2024, which will likely be equipped with spodumene from Pilgangoora. PLS additionally has offtake agreements with corporations similar to Ganfeng, Chengxin Lithium Group, and Yibin Tianyi Lithium Trade.
7. Mineral Sources (ASX:MIN,OTC Pink:MALRF)
Market cap: US$2.59 billion
Share value: AU$18.95
Australia-based Mineral Sources (MinRes) is a commodities firm that mines lithium and iron ore within the nation. As talked about, each of MinRes’ lithium mines are joint ventures with different corporations on this checklist. Along with the Wodgina mine in Western Australia, which is operated beneath the MARBL three way partnership with Albemarle, MinRes holds a 50 p.c stake in Albemarle’s Qinzhou and Meishan crops in China.
MinRes owns 50 p.c of the Mount Marion lithium operation, which is a three way partnership with Ganfeng Lithium. Manufacturing of lithium focus started at Mount Marion in 2017, and all mining is managed by MinRes, which additionally has a 51 p.c share of the output from the spodumene concentrator on the web site. MinRes accomplished the growth of Mount Marion’s spodumene processing plant in 2023. At the moment, the plant has an annual manufacturing capability of 600,000 MT spodumene focus equal.
Nevertheless, in late August 2024, in mild of lithium’s low demand surroundings, MinRes determined to reduce its operations at Mount Marion to between 150,000 and 170,000 MT of spodumene manufacturing in its monetary 12 months 2025 in comparison with the 218,000 metric tons of output achieved in its monetary 12 months 2024.
MinRes acquired the Bald Hill lithium mine, which can also be positioned in Western Australia, in 2023. The corporate launched an up to date mineral useful resource estimate in November 2024 of 58.1 MT at 0.94 p.c lithium oxide, up 168 p.c from the prior June 2018 estimate. In the identical information launch, MinRes introduced that it must place the mine on care and upkeep till world lithium costs enhance. The ultimate cargo of Bald Hill spodumene focus was made in December 2024.
FAQs for investing in lithium
Is lithium a metallic?
Lithium is a mushy, silver-white metallic utilized in prescription drugs, ceramics, grease, lubricants and heat-resistant glass. It’s additionally utilized in lithium-ion batteries, which energy all the pieces from cell telephones to laptops to electrical autos.
How a lot lithium is there on Earth?
Lithium is the thirty third most plentiful component in nature. In keeping with the US Geological Survey, because of persevering with exploration, recognized lithium sources have elevated to about 115 million metric tons worldwide. World lithium reserves stand at 30 million MT, with manufacturing reaching 240,000 MT in 2024.
How is lithium produced?
Lithium is present in hard-rock deposits, evaporated brines and clay deposits. The most important hard-rock mine is Greenbushes in Australia, and most lithium brine output comes from salars in Chile and Argentina.
There are numerous forms of lithium merchandise, and many various functions for the mineral. After lithium is extracted from a deposit, it’s usually processed into lithium carbonate, lithium hydroxide or lithium metallic. Battery-grade lithium carbonate and lithium hydroxide can be utilized to make cathode materials for lithium-ion batteries.
What nation produces probably the most lithium?
The newest knowledge from the US Geological Survey reveals that the world’s prime lithium-producing nations are Australia, Chile and China, with manufacturing reaching 88,000 metric tons, 49,000 metric tons and 41,000 metric tons, respectively.
World lithium manufacturing reached 240,000 metric tons of lithium in 2024, up from 204,000 MT in 2023, in response to the US Geological Survey. About 87 p.c of the lithium produced at the moment goes towards battery manufacturing, however different industries additionally devour the metallic. For instance, 5 p.c is utilized in ceramics and glass, whereas 2 p.c goes to lubricating greases.
Who’s the most important miner of lithium?
The world’s largest lithium-producing mine is Talison Lithium and Albemarle’s Greenbushes hard-rock mine in Australia, which put out 1.38 million MT of spodumene focus within the fiscal 12 months 2024. The highest-producing lithium brine operation was SQM’s Salar de Atacama operations in Chile, with 2023 manufacturing of 166,000 metric tons of lithium carbonate.
Who’re the highest lithium customers?
The prime lithium-importing nation is China by an extended shot, and second place South Korea is one other vital importer. China can also be the highest nation for lithium processing, and each are dwelling to many corporations producing lithium-ion batteries.
Why is lithium so arduous to mine?
The various kinds of lithium deposits include their very own challenges.
For instance, mining pegmatite lithium from hard-rock ore is thought for being costly, whereas extracting lithium from brines requires huge quantities of water and processing occasions that may generally be so long as 12 months. Lithium mining additionally comes with the difficulties related to mining different minerals, similar to lengthy exploration and allowing durations.
What are the damaging results of lithium?
Each main types of lithium mining can have damaging results on the surroundings. On the subject of hard-rock lithium mining, there have been incidents of chemical compounds leaking into the water provide and damaging the native ecosystems; as well as, these operations are inclined to have a big environmental footprint.
As talked about, lithium brine extraction requires loads of water for the evaporation course of, however it’s arduous to grasp the scope with out numbers. It is estimated that roughly 2.2 million liters of water are required to supply 1 metric ton of lithium, and that may generally imply diverting water from communities which might be experiencing drought situations. This type of lithium extraction additionally impacts the situation of the soil and air.
Will lithium run out?
Though future demand for lithium is anticipated to maintain rising because of its function in inexperienced power, the metallic should not run out any time quickly, as corporations are persevering with to find new lithium reserves and are growing extra superior extraction applied sciences. Moreover, there are corporations engaged on know-how to recycle battery metals, which is able to ultimately permit lithium from lithium-ion batteries to re-enter the provision chain.
What know-how will substitute lithium?
Researchers have been engaged on growing and testing a number of lithium alternate options for batteries. A few of these choices embody hydrogen batteries, liquid batteries that may very well be pumped into autos, batteries that substitute lithium with sodium or magnesium and even batteries powered by sea water. Whereas nothing appears to be like prepared to interchange lithium-ion batteries proper now, there may be potential for extra environment friendly or extra environmentally pleasant choices to develop in reputation sooner or later.
Tips on how to purchase a lithium inventory?
Buyers are beginning to concentrate to the inexperienced power transition and the uncooked supplies that can allow it.
On the subject of selecting a inventory to spend money on, understanding lithium provide and demand dynamics is essential, as there are distinctive elements to look at for in lithium shares. The primary demand driver for lithium is what occurs within the electrical automobile trade, which is anticipated to continue to grow, and in addition the power cupboard space. Analysts stay optimistic about the way forward for lithium, with many predicting the market will likely be tight for a while.
Buyers serious about lithium shares might take into account corporations listed on US, Canadian and Australian inventory exchanges. They will additionally take a look at our information on what to search for in lithium shares right now.
That is an up to date model of an article first printed by the Investing Information Community in 2016.
Don’t neglect to comply with us @INN_Resource for real-time information updates!
Securities Disclosure: I, Melissa Pistilli, maintain no direct funding curiosity in any firm talked about on this article.
Securities Disclosure: I, Georgia Williams, maintain no direct funding curiosity in any firm talked about on this article.
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