Mergers and acquisitions are widespread within the lithium area, with the most important information within the trade not too long ago 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 traders have lots to control because the area continues to shift. Learn on for an outline of the present prime lithium-producing companies by market cap. Information 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 worth: AU$112.70
Rio Tinto, a worldwide powerhouse within the useful resource sector for many years, is generally identified for its iron and copper manufacturing. Nonetheless, in recent times, the mining big 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 firms on the planet with the US$6.7 billion all-cash acquisition of Arcadium Lithium, the lithium big shaped 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 underneath 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 stated it’s going to enhance its lithium carbonate equal manufacturing capability to over 200,000 metric tons (MT) yearly by 2028.
Lithium acquisitions aren’t new to Rio Tinto. In 2022, it acquired the Rincon venture 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 increase 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 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 worth: US$37.05
SQM has 5 enterprise areas, starting from lithium to potassium to specialty plant vitamin. Its main lithium operations are in Chile, the place it’s a longtime producer, and additionally it is working to deliver 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 vegetation situated close to Antofagasta.
Chile’s aforementioned Nationwide Lithium Technique has created some uncertainty for SQM, however the authorities has said that it’ll respect its present contracts, which run via 2030. In Might 2024, the state-owned mining firm Codelco and SQM shaped a three way partnership during which Codelco will maintain a 50 % stake plus one share to offer it majority management. As of 2031, the state will start receiving 85 % 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.
General, the corporate sees its complete gross sales volumes from all its lithium operations growing by 15 % this 12 months.
SQM has a long-term provide deal with Hyundai (KRX:005380) and Kia (KRX:000270) to offer 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 Power (KRX:373220).
3. Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460,HKEX:1772)
Market cap: US$7.5 billion
Share worth: US$2.51
Based in 2000 and listed in 2010, Ganfeng Lithium has operations throughout your entire electrical automobile battery provide chain. Though it’s comparatively new in comparison with some firms on the record, Ganfeng has develop into 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 assets, with its first such funding in 2014.
Ganfeng has pursuits in lithium assets all over the world, from Australia to Argentina, China and Eire; its operations embrace a 50/50 three way partnership with Mineral Sources for the Mount Marion mine in Western Australia. In Argentina, the corporate has 51 % stake in Lithium Americas’ (TSX:LAC,NYSE:LAC) Caucharí-Olaroz lithium brine venture.
Ganfeng has a controlling curiosity in Mexico-focused Bacanora Lithium and its Sonora lithium venture; it additionally has a 50 % stake in a lithium mine in Mali, in addition to a 49 % stake in a salt lake venture in China owned by China Minmetals. It owns the personal 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 venture 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 venture 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 firms resembling 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 worth: US$58.88
North Carolina-based Albemarle is dividing into two main enterprise models, certainly one of which — the Albemarle Power Storage unit — is targeted wholly on the lithium-ion battery and power transition markets. It contains the agency’s lithium carbonate, hydroxide and steel manufacturing.
Albemarle has a broad portfolio of lithium mines and services, with extraction in Chile, Australia, China and the US. Wanting first at Chile, Albemarle produces lithium carbonate at its La Negra lithium conversion vegetation, 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 scale back water utilization.
Albemarle’s Australian belongings 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, during which it holds a 49 % 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 present the nation’s solely supply of lithium manufacturing. In its house state of North Carolina, Albemarle is planning to deliver 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 essential 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 worth: 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 belongings 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 via the Tianqi Lithium Power Australia JV with IGO. The hydroxide plant, which is without doubt one of the world’s largest totally automated battery-grade lithium hydroxide services, processes feedstock from Greenbushes with a capability of 24,000 MT per 12 months.
Development work for the Section 2 growth at Kwinana, which might have doubled its capability, was terminated in January 2025 as a result of present low-price setting for lithium making it economically unviable.
Tianqi Lithium Power Australia up to date the complete mineral assets at Greenbushes in February 2025 to 440 million MT at a mean grade of 1.5 % lithium oxide, and its complete ore reserve estimate to 172 million MT grading 1.9 % lithium oxide.
In March 2025, Tianqi Lithium introduced collaborations with a variety of educational analysis establishments together with the Institute for Superior Supplies and Know-how of the College of Science and Know-how 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 worth: 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 vegetation: the Pilgan plant, situated on the northern aspect of the Pilgangoora space, which produces a spodumene focus and a tantalite focus; and the Ngungaju plant, situated to the south, which produces a spodumene focus.
PLS has not too long ago accomplished a couple of essential growth initiatives at Pilgangoora. Its P680 growth, for a main rejection facility and a crushing and ore-sorting facility, was accomplished in August 2024. The P1000 growth, focusing 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 funds. 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 accomplice Calix are growing a midstream demonstration plant at Pilgangoora utilizing Calix’s electrical kiln know-how to scale 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 venture is anticipated to be accomplished within the fourth quarter of 2025.
The corporate made a transfer to increase its footprint in Brazil in August 2024 with the acquisition of Latin Sources (ASX:LRS,OTC Pink:LRSRF) and its Salinas lithium venture. The venture’s useful resource estimate, which covers the Colina and Fog’s Block deposits, stands at 77.7 million MT at 1.24 % lithium oxide. The AU$560 million deal was authorized by the Western Australia Authorities in January 2025.
PLS and three way partnership accomplice POSCO (NYSE:PKX) launched South Korea’s first lithium hydroxide processing plant in late 2024, which might be equipped with spodumene from Pilgangoora. PLS additionally has offtake agreements with firms resembling Ganfeng, Chengxin Lithium Group, and Yibin Tianyi Lithium Trade.
7. Mineral Sources (ASX:MIN,OTC Pink:MALRF)
Market cap: US$2.59 billion
Share worth: 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 firms on this record. Along with the Wodgina mine in Western Australia, which is operated underneath the MARBL three way partnership with Albemarle, MinRes holds a 50 % stake in Albemarle’s Qinzhou and Meishan vegetation in China.
MinRes owns 50 % 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 % 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. Presently, the plant has an annual manufacturing capability of 600,000 MT spodumene focus equal.
Nonetheless, in late August 2024, in gentle of lithium’s low demand setting, 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 be situated 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 % lithium oxide, up 168 % 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 steel?
Lithium is a comfortable, silver-white steel utilized in prescription drugs, ceramics, grease, lubricants and heat-resistant glass. It’s additionally utilized in lithium-ion batteries, which energy every thing from cell telephones to laptops to electrical automobiles.
How a lot lithium is there on Earth?
Lithium is the thirty third most considerable aspect in nature. In accordance with the US Geological Survey, as a result of persevering with exploration, recognized lithium assets have elevated to about 115 million metric tons worldwide. International 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 varieties of lithium merchandise, and many alternative purposes for the mineral. After lithium is extracted from a deposit, it’s typically processed into lithium carbonate, lithium hydroxide or lithium steel. Battery-grade lithium carbonate and lithium hydroxide can be utilized to make cathode materials for lithium-ion batteries.
What nation produces essentially the most lithium?
The newest information from the US Geological Survey reveals that the world’s prime lithium-producing international locations are Australia, Chile and China, with manufacturing reaching 88,000 metric tons, 49,000 metric tons and 41,000 metric tons, respectively.
International lithium manufacturing reached 240,000 metric tons of lithium in 2024, up from 204,000 MT in 2023, based on the US Geological Survey. About 87 % of the lithium produced at present goes towards battery manufacturing, however different industries additionally devour the steel. For instance, 5 % is utilized in ceramics and glass, whereas 2 % 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 shoppers?
The prime lithium-importing nation is China by an extended shot, and second place South Korea is one other vital importer. China can be the highest nation for lithium processing, and each are house to many firms producing lithium-ion batteries.
Why is lithium so exhausting to mine?
The several types 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 typically be so long as 12 months. Lithium mining additionally comes with the difficulties related to mining different minerals, resembling lengthy exploration and allowing intervals.
What are the destructive results of lithium?
Each main types of lithium mining can have destructive results on the setting. In relation to hard-rock lithium mining, there have been incidents of chemical substances 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 plenty of water for the evaporation course of, however it’s exhausting 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 typically imply diverting water from communities which might be experiencing drought circumstances. 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 as a result of its position in inexperienced power, the steel should not run out any time quickly, as firms are persevering with to find new lithium reserves and are growing extra superior extraction applied sciences. Moreover, there are firms engaged on know-how to recycle battery metals, which is able to finally enable 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 options for batteries. A few of these choices embrace hydrogen batteries, liquid batteries that might be pumped into automobiles, batteries that substitute lithium with sodium or magnesium and even batteries powered by sea water. Whereas nothing seems prepared to switch lithium-ion batteries proper now, there’s potential for extra environment friendly or extra environmentally pleasant choices to develop in reputation sooner or later.
purchase a lithium inventory?
Traders are beginning to concentrate to the inexperienced power transition and the uncooked supplies that may allow it.
In relation to selecting a inventory to put money into, understanding lithium provide and demand dynamics is essential, as there are distinctive components 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 likewise the power space for storing. Analysts stay optimistic about the way forward for lithium, with many predicting the market might be tight for a while.
Traders involved in lithium shares may take into account firms listed on US, Canadian and Australian inventory exchanges. They will additionally try our information on what to search for in lithium shares immediately.
That is an up to date model of an article first revealed by the Investing Information Community in 2016.
Don’t overlook to observe 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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