It is as light as wood, can be cut with a knife and heats up when it comes into contact with water: the light metal lithium has amazing physical properties, but is also an important economic factor. Being a very central part of batteries, it is considered a strategically important “fuel” for the energy transition. And a race has long broken out between the great powers to secure the resource.
Smartphones, laptops, e-bikes, electric cars, domestic batteries to temporarily store solar energy: many of the achievements of modern times would be unthinkable without lithium-ion batteries. The light metal also plays an important role in the glass and ceramics industry. Until now, the suppliers have been able to meet the needs of the electronics and ceramics industries without any problems, but now a bottleneck is emerging. Hundreds of thousands of tons will be missing by 2030 – and China is poised to secure control of a large chunk of global reserves.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
