The discovery will boost China’s supply of resources needed for lithium batteries, which are essential to many mass-market electric vehicles sold around the world.
China is trying to market itself to the world as a renewable battery center
According to the U.S. Geological Survey, China already holds about 7% of the world’s confirmed lithium resources, making it the world’s sixth-largest resource after Bolivia, Argentina, the United States, Chile and Australia.
But the company refines about half of the world’s lithium and relies heavily on overseas markets for the material.
Thailand, which is making strides towards becoming Asia’s major EV production base, also recently announced the discovery of two potential sources of lithium, one of which has an estimated reserve of around 14.8 million tonnes. This represents 64 percent of the lithium resources discovered in Bolivia, the world’s largest lithium-retaining country, according to a Thai media report last week.
“China is trying to sell itself to the world as a renewable battery center,” said James Chin, professor of Asian studies at the University of Tasmania. He said new lithium sources could bring further investment into China’s EV battery sector.
“If you look at battery research and development, some of the best batteries are currently being produced in China,” Chin said.
Analysts say US tariffs on Chinese imports may rise in 2024
Analysts say US tariffs on Chinese imports may rise in 2024
According to China EV100, a think tank that aims to promote the development of the EV industry, China produces about 70% of the world’s electric vehicle batteries.
Last year, China’s total exports of lithium batteries, solar cells and new energy vehicles exceeded 1 trillion yuan (US$139 billion) for the first time, according to customs data. All three products use lithium, giving them added economic importance as China struggles to pivot from traditional sectors such as real estate to driving long-term growth.
01:11
China’s BYD overtakes Tesla to become world’s largest EV maker
China’s BYD overtakes Tesla to become world’s largest EV maker
The Minister of Natural Resources called Yajiang’s discovery a “huge breakthrough,” according to a report by Xinhua News Agency.
Alicia García Herrero, chief Asia-Pacific economist at French investment bank Natixis, said China would most likely use the mine’s lithium for domestic production rather than export, which would result in batteries for the country’s electric vehicles. He said this will give the manufacturer an advantage over competitors from countries such as South Korea. .
So far, lithium discovered in China has mainly been found in Sichuan, Qinghai, Tibet, Xinjiang and Jiangxi provinces.
Lithium carbonate, which is widely used in lithium-ion batteries, can also be extracted from saline lakes, and there are 1,500 such features in China, with Xinhua Insight saying there is “potential to explore even more lithium resources.” It is called.
Recycling is key to China’s ‘new oil’ self-sufficiency goal
Recycling is key to China’s ‘new oil’ self-sufficiency goal
“The supply of critical minerals is a growing concern and strategic topic for many countries, including China,” said Yuan Sheng Yu, managing director of Lux Research in Singapore. Ta. “Recent major discoveries have further cemented China’s dominant position in the lithium supply chain and, by extension, its global position in batteries and electric vehicles.”
However, Yu noted that lithium projects remain “very high risk” and there are “significant” delays between resource discovery and utilization in viable commercial projects.
There is definately a lot to find out about this subject.
I love all of the points you have made.
Gгeat wrіte-up, I’m regular visitor of one’s blog, maintain ᥙр thhe nice operate, and It’ѕ going
to be a regular visitor fоr а lengthy timе.
Lօоk into my blog; multipurpose furniture
Hi there! Would you mind if I share your blog with my twitter group?
There’s a lot of folks that I think would really enjoy your content.
Please let me know. Thanks
If you would like to get a great deal from this article then you have to apply
such techniques to your won blog.
I take pleasure in, result in I discovered exactly what I used to be looking for.
You’ve ended my 4 day long hunt! God Bless you man. Have a nice day.
Bye
Do you have a spam problem on this website; I also am
a blogger, and I was wondering your situation; we have created some
nice methods and we are looking to swap strategies with other folks, be sure to
shoot me an e-mail if interested.
My brother suggested I might like this website. He was
entirely right. This post actually made my day. You cann’t
imagine simply how much time I had spent for this info!
Thanks!
There’s definately a great deal to find out about this subject.
I like all the points you made.
Thankfulness to my father who informed me on the topic of this web site, this webpage is truly remarkable.
Thanks for every other excellent article.
Where else may just anybody get that type of information in such a perfect way of
writing? I’ve a presentation subsequent week, and I am
at the look for such information.
Everything is very open with a really clear clarification of the issues.
It was truly informative. Your site is very useful. Thanks for sharing!
Ahaa, its pleasant discussion on the topic of this piece of writing at
this place at this weblog, I have read all that, so at this time me also commenting at this place.
Hey! I’m at work browsing your blog from my new apple iphone!
Just wanted to say I love reading your blog and look forward to all your posts!
Keep up the fantastic work!
Why visitors still use to read news papers when in this technological globe the whole thing is available on net?
Hello! I just wish to give you a big thumbs up for the excellent info you have got
right here on this post. I will be coming back to your blog for more soon.
Write more, thats all I have to say. Literally, it seems as though you relied on the video
to make your point. You clearly know what youre talking about, why throw away your intelligence on just
posting videos to your weblog when you could be giving us something enlightening to read?
I was recommended this blog by my cousin. I’m not sure whether this
post is written by him as nobody else know such detailed about my trouble.
You’re amazing! Thanks!
Good day! This is my first visit to your blog! We are a group of
volunteers and starting a new project in a community in the same niche.
Your blog provided us beneficial information to work on. You have done a extraordinary job!
Greetings! Very useful advice in this particular post!
It is the little changes which will make the biggest changes.
Thanks a lot for sharing!
Thanks for finally writing about > Global resource competition intensifies as China unearths 1
million tons of lithium deposit and Thailand also boasts of a major discovery – Manual Proofer < Loved it!
These are in fact impressive ideas in concerning blogging.
You have touched some nice factors here. Any way keep up wrinting.
This article is truly a good one it helps new web users, who are wishing
for blogging.
Thanks for one’s marvelous posting! I seriously enjoyed reading it,
you may be a great author. I will be sure to bookmark
your blog and will often come back from now on. I want to encourage
you continue your great posts, have a nice
evening!
Tank you for the good writeup. It in fact was a amusement account it.
Look advanced to far dded agreeable from you! By the way, how can we communicate?
web site
Wagering games are thosxe video games which might be turning into
the simplest gaining supply for peoples because of the
modern know-how. While online casino bonuses are one among the major points of interest for the players, among the casinos are turning them into no deposit casinhos to crrate such attractions for the viewers, visitors,
and online players. They offer a wide choice of payment methods
too make any transaction straightforward (MasterCard, Visa, Maestro, Neteller, Paysafecard, PayPal,
Skrill, Entropay, Direct Wire Transfer, Ukash, Eco, and so forth.).
Hello just wanted to give you a brief heads up and let you know a few of the images aren’t
loading correctly. I’m not sure why but I think its a linking issue.
I’ve tried it in two different browsers and both show
the same outcome.
I visited many websites except the audio quality for audio songs existing at this website is really fabulous.
Definitely consider that that you stated. Your favorite justification seemed to
be at the web the simplest factor to take note of. I say to you, I definitely get irked even as other
folks consider concerns that they plainly don’t realize about.
You managed to hit the nail upon the top and outlined out the
whole thing without having side-effects , people could take a signal.
Will likely be again to get more. Thank you
Hey there, You’ve done a great job. I will certainly digg
it and personally recommend to my friends. I am confident they will be benefited
from this site.