China played a great role on lithium industry sector

Lithium is a chemical substance with the symbol Li and atomic number3. It is a soft, silvery-white alkali metal. Under standard conditions, it is the least dense metal and the least dense solid element. Like all alkali metals, lithium is highly reactive and flammable, and must be stored in vacuum, inert atmosphere, or inert liquid such as purified kerosene or mineral oil. When cut, it exhibits a metallic luster, but moist air corrodes it quickly to a dull silvery gray, then black tarnish. It never occurs freely in nature, but only in (usually ionic) compounds, such as pegmatitic minerals, which were once the main source of lithium. Due to its solubility as an ion, it is present in ocean water and is commonly obtained from brines. Lithium metal is isolated electrolytocally from a mixture of lithium chloride and potassium chloride.

Lithium,Alongside its application in cell phones, computers, tablets and a host of other gadgets synonymous with modern life, lithium which some have dubbed white gold is crucial to the batteries that power electric vehicles. China is certainly a dominant force within the lithium industry sector.

According to World Energy Outlook 2022 report, the International Energy Agency said the country accounted for roughly 60% of the worlds lithium chemical supply. China also produces three-quarters of all lithium-ion batteries, according to the IEA.

With demand for lithium rising, major economies are attempting to shore up their own supplies and reduce dependency on other parts of the world, including China.

The stakes are high. In a translation of her State of the Union speech, delivered in September, European Commission President Ursula von der Leyen said lithium and rare earths will soon be more important than oil and gas.

As well as addressing security of supply, von der Leyen also stressed the importance of processing.

Today, China controls the global processing industry, she said. Almost 90% of rare earth[s] and 60% of lithium are processed in China.

With the above in mind, a number of companies in Europe are looking to develop projects centered around securing supply.