Three Reasons Why Direct Lithium Extraction Could Fuel the Next Decade of EVs

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June 27, 2024 Article & Editing Graphics & Design Why Direct Lithium Extraction Could Power the Next Decade of EVs

Transport is changing, and with more and more EVs zipping through the streets, lithium is fast becoming one of the world’s most critical minerals because of its importance for batteries.

However, mining and refining lithium is complicated, time-consuming, and potentially environmentally damaging. 

So, for this graphic, Visual Capitalist has partnered with EnergyX to explore three reasons why direct lithium extraction (DLE), an efficient method of mining and refining lithium, could help power the next decade of EVs.

1: DLE Cuts Extraction Times

Over 40 million EVs will be sold annually by 2030, over 10 times the amount sold in 2022, placing incredible demand on lithium production.

YearEV Sales Total 20203,158,700 202314,385,660 2025F22,449,800 2030F44,702,000 2035F64,280,000

Typically, extracting a metric ton of lithium takes between 18 and 24 months using conventional methods. However, using direct lithium extraction, the same amount can be sourced in as little as one or two days, making it much more efficient in supplying the lithium to power the next wave of EVs. 

2: DLE Could Bridge the Lithium Supply Gap

The incredible demand placed on the lithium industry could also lead to an over 1.4 million metric ton supply deficit by 2030 if no additional production is brought online.

2030 Supply2030 Demand LCE (million metric tons)1.643.06

EnergyX’s proprietary direct lithium extraction technology, LiTAS™, can increase lithium production by up to 300% over conventional methods and potentially improve lithium supplies. 

3: DLE Improves Battery Capacity

Blocks of lithium batteries power many EVs, so as these vehicles become more advanced and more people drive them, the demand for higher-density lithium batteries will only grow. In fact, between 2022 and 2030, the demand for energy stored by lithium batteries will increase by 27% annually.

YearBattery Demand (GWh) 2022700 20251,700 20304,700

EnergyX’s DLE technology, LiTAS™, which enables lithium metals to be applied directly to a battery’s anode, can significantly improve energy density and pave the way for the

Storage Systems can Empower Emerging Markets

Andrea Webster, Senior Advisor at SustainFinance, says innovation must disrupt the status quo in traditional energy systems.

Idealists imagine clean renewable energy powering a content and peaceful world around us. Solar panels adorn rooftops and wind turbines swoop to catch the breeze. Reality paints a very different picture; we not only need to re-think and re-engineer the world around us, we also need to persuade many people it is a priority that needs paying for. While the cost of renewable energy is falling, resistance to re-engineering our daily lives is growing.

This is a battle for the narrative. One size does not fit all and motivations to embrace change differ depending on where you are sitting in the world.

For developed economies, the energy transition means replacing existing reliable but high-carbon energy sources with a clean and affordable alternative. Meeting national net zero commitments creates the imperative; however rises in inflation, interest rates and supply chain woes have pushed up the cost of living and reset priorities. We are seeing this reflected in politics with a move to the right.

For developing economies, the challenge is building new sources of affordable energy to meet increasing demand. Reliable energy is fundamental to economic development because it generates prosperity which ultimately helps underpin social order. Providing reliable, clean supply to millions on a low income is a political challenge for many governments.

Fundamental changes

While the global push toward renewable energy has made remarkable strides, with solar and wind power leading the charge, it is simply not fast enough. This was finally acknowledged in Dubai, reaching a new level of global consensus on the need to tackle climate change. COP28 did not go far enough for the scientists, but it was historical in its commitment to phase down unabated coal power. This text will translate into a scaling of fundamental changes in how electricity is generated, stored and distributed; in other words, it will accelerate the structural shifts taking place in electricity supply across the world.

Within the electricity supply chain, energy storage stands out as the crucial piece in building trust with end users and governments to reshape our power supply systems. Robust storage is needed to integrate and manage renewable energy sources to smooth out the intermittent nature of renewable generation. Being able to manage the peaks and troughs of changing user demands and ensuring a reliable power supply from

Visualizing Cobalt Production by Country in 2023

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May 31, 2024 Graphics/Design:

See this visualization first on the Voronoi app.

Visualizing Cobalt Production by Country in 2023

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Cobalt is a critical mineral used in numerous commercial, industrial, and military applications. In recent years, it has gained attention as it is also necessary for batteries used in cell phones, laptops, and electric vehicles (EVs).

This graphic illustrates estimated cobalt production by country in 2023 in metric tons. The data is from the most recent U.S. Geological Survey (USGS) Mineral Commodity Summaries, published in January 2024.

The DRC Produces 74% of Global Cobalt

The Democratic Republic of Congo (DRC) accounts for 74% of the world’s cobalt output. Although the metal is found on a large scale in other parts of the world, like Australia, Europe, and Asia, the African nation holds the biggest reserves by far. Of the 11,000,000 metric tons of worldwide reserves, it is estimated that 6,000,000 metric tons are located in the DRC.

Countrymetric tonsPercentage 🇨🇩 DRC170,00074% 🇮🇩 Indonesia17,0007% 🇷🇺 Russia8,8004% 🇦🇺 Australia4,6002% 🇲🇬 Madagascar4,0002% 🇵🇭 Philippines3,8002% 🌍 Other Countries21,1009% Total229,300100%

Since around 20% of the cobalt mined in the DRC originates from small-scale artisanal mines, often employing child labor, the extraction of the metal has been a point of intense debate. With a long history of conflict, political upheaval, and instability, the country is often listed among the poorest nations in the world.

Today, the EV sector constitutes 40% of the overall cobalt market.

China is the world’s leading consumer of cobalt, with nearly 87% of its consumption used by the lithium-ion battery industry.

In the U.S., 50% of cobalt consumed is used in superalloys, mainly in aircraft gas turbine engines.

Learn More About Critical Minerals From Visual Capitalist

If you enjoyed this post, be sure to check out The Critical Minerals to China, EU, and U.S. National Security. This visualization shows which minerals are essential to China, the United States, and the European Union.

Ranked: The World’s Largest Lithium Producers in 2023

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May 23, 2024 Graphics/Design:

See this visualization first on the Voronoi app.

The World’s Largest Lithium Producers in 2023

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Three countries—Australia, Chile, and China—accounted for 88% of lithium production in 2023.

In this graphic, we list the world’s leading countries in terms of lithium production. These figures come from the latest USGS publication on lithium statistics (published Jan 2024).

Australia Leads, China Approaches Chile

Australia, the world’s leading producer, extracts lithium directly from hard-rock mines, specifically from the mineral spodumene.

The country saw a big jump in output over the last decade. In 2013, Australia produced 13,000 metric tons of lithium, compared to 86,000 metric tons in 2023.

RankCountryLithium production 2023E (metric tons) 1🇦🇺 Australia86,000 2🇨🇱 Chile44,000 3🇨🇳 China33,000 4🇦🇷 Argentina9,600 5🇧🇷 Brazil4,900 6🇨🇦 Canada3,400 7🇿🇼 Zimbabwe3,400 8🇵🇹 Portugal380 🌍 World Total184,680

Chile is second in rank but with more modest growth. Chilean production rose from 13,500 tonnes in 2013 to 44,000 metric tons in 2023. Contrary to Australia, the South American country extracts lithium from brine.

China, which also produces lithium from brine, has been approaching Chile over the years. The country increased its domestic production from 4,000 metric tons in 2013 to 33,000 last year.

Chinese companies have also increased their ownership shares in lithium producers around the globe; three Chinese companies are also among the top lithium mining companies. The biggest, Tianqi Lithium, has a significant stake in Greenbushes, the world’s biggest hard-rock lithium mine in Australia.

Argentina, the fourth country on our list, more than tripled its production over the last decade and has received investments from other countries to increase its output.

With all the top producers increasing output to cover the demand from the clean energy industry, especially for electric vehicle (EV) batteries, the lithium market has seen a surplus recently, which caused prices to collapse by more than 80% from a late-2022 record high.