Huge Lithium Find in Iran May End World Shortage

upstart writes:

Huge lithium find may end world shortage - there's a catch:

Lithium, sometimes hyped as white gold, has been highly sought after for its role in battery production, and other things.

Global demand is expected to continue to outstrip supply in the years to come. Albemarle Corporation projects [PDF] lithium demand will rise from 1.8 million metric tons in 2025 to 3.7 million metric tons in 2030 largely due to its role in electric vehicles and other battery dependent devices.

The White House last year said critical minerals - rare earth metals, lithium, and cobalt - "are essential to our national security and economic prosperity."

Alas for the US, the latest cache of this malleable metal has turned up in Iran - one of just four countries America has designated a state sponsor of terrorism.

According to The Financial Tribune, an English language news publication focused on Iran that's operated by Tehran-based Donya-e-Eqtesad, Ebrahim Ali Molla-Beigi, director general of the Exploration Affairs Office of the Ministry of Industries, Mining and Trade, said that Iran has discovered its first lithium reserve in Hamedan Province, in the western part of the country.

The reserve is said to be 8.5 million metric tons, which - if accurate - would be among the largest known deposits yet discovered.

According to the US Geological Survey [PDF], the top five identified lithium reserves are: Bolivia, 21 million tons; Argentina, 20 million tons; Chile, 11 million tons; Australia, 7.9 million tons, and China, 6.8 million tons.

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