Category IV · Critical & future minerals
Lithium.
Cornerstone EV-battery metal. Africa is an emerging supply region (Zimbabwe, Mali, DRC).
Benchmark
LCE battery-grade (China spot)
Unit
US$ / tonne LCE
Current price · 3-mo forward avg
US$ 14,500 / tonne LCE
Apr — Jul 2026 (forward 3-mo avg)
Cornerstone EV-battery metal. Africa is an emerging supply region (Zimbabwe, Mali, DRC).
Price · LCE battery-grade (China spot)
2016 — 2035
Solid line: historical annual averages. Dashed line: forward projections (consensus).
Top 5 producing countries
- 01
Australia
47%
Hard-rock spodumene; Greenbushes
- 02
Chile
24%
Salar de Atacama brines
- 03
China
15%
Domestic + imported lepidolite & spodumene
- 04
Argentina
5%
Lithium Triangle salars
- 05
Zimbabwe
3%
Bikita & Arcadia — fastest-growing African producer
Leading companies
- 01
Albemarle
Largest Western lithium producer
- 02
SQM
Chilean salar leader
- 03
Tianqi Lithium
Greenbushes JV stake; major Chinese refiner
- 04
Ganfeng Lithium
Integrated Chinese producer; Mt Marion
- 05
Pilbara Minerals
Pure-play Australian spodumene
Of note
- §
Lithium experienced one of the most dramatic boom-bust cycles in commodity history (~10× peak, then 80% retracement) between 2020–2024.
- §
Africa's spodumene resources (Zimbabwe, Mali, DRC) are becoming a meaningful share of global supply.
- §
Long-term EV / energy-storage demand growth is forecast at ~3–4× current levels by 2035.
Sources
Benchmark Mineral Intelligence · USGS, IEA Global EV Outlook 2024. Curated quarterly. Forward projections are consensus indications and are not a guarantee of future prices.