Global lithium production to rise by 14.5% CAGR through 2030 [Yahoo! Finance]
Piedmont Lithium Inc. (PLL)
Company Research
Source: Yahoo! Finance
Despite falling prices amidst concerns over oversupply with slower EV sales growth, global lithium production is estimated to have grown by 26% in 2024, driven by both established and emerging producers. While Australia maintains its position as the largest producer, countries such as Argentina, Zimbabwe, Brazil and Canada are significantly increasing their output. Combined output from these countries is expected to increase from 109.8 kilotonnes in 2023 to 156.4 kilotonnes in 2024 – a 42.4% increase. In Australia, production is estimated to have increased by 30.7% to 112.5 kilotonnes in 2024, supported by the commencement of the Kathleen Valley and Mt Holland lithium projects. Chile, the world's second-largest producer, is expected to see a modest 1.3% increase in production to 54.4 kilotonnes, primarily driven by SQM's Salar de Atacama mine. Argentina's production is estimated to have increased by 92.5% to 16.6 kilotonnes due to the start of Posco Argentina's Sal De Oro Phase I
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