5 Largest Lithium Mining Companies

According to Mining News Pro -  With much of the western world announcing a phase-out of traditional petrol and diesel vehicles, Lithium has become one of the most sought-after elements out there. Lighter, more efficient, and more durable than other battery chemicals, Lithium-Ion is the obvious choice for energy storage. Increased demand has seen Lithium Mining companies swiftly become giants in the industry, using insight from Insider Monkey, here are five of the biggest:

5. SQM

Market Cap: $6.44 Billion

Revenue: $1.86 Billion

Employees: 5,741

Chilean chemical company, Sociedad Quimica y Minera de Chile - or SQM produces Lithium Carbonate and Lithium Hydroxide from the Salar de Atacama salt flats in Northern Chile. Last year SQM reported a capacity of 70,000 tons of Lithium Carbonate.

4. Mineral Resources Ltd.
Market Cap: $6.98 Billion

Revenue (2019): $1.16 Billion

Employees: 3,100

From Applecross West Australia, Mineral Resources Ltd conducts open pit mining of both Iron Ore and Lithium, as well as processing Lithium Hydroxide. Their Mt. Marion Lithium project is a joint venture alongside Neometals Ltd and Jiangxi Ganfeng Lithium Co. Ltd and has an estimated capacity of 450,000 tons per annum.

3. Tianqi Lithium

Market Cap: $11.73 Billion

Revenue (2019): $748 Million

Employees: 1,851

Chinese giant Tianqi Lithium controls nearly half of the world’s production of Lithium, owning a 51% stake in the Greenbushes mine in Western Australia, the biggest operating Lithium mine in the world. Currently undergoing an expansion, it’s estimated that the Greenbushes mine will produce over 160,000 metric tons per year.

2.  Albemarle

Market Cap: $18.38 Billion

Revenue (2019): $3.589 Billion

Employees: 6000

American chemical manufacturing company Albemarle are the world’s largest provider of Lithium for electric vehicle batteries. They own 49% of the aforementioned Greenbushes mine along with one in Nevada and one in Chile.

1. Jiangxi Ganfeng Lithium Co. Ltd

Market Cap: $24.34 Billion

Revenue (2019): $767.5 Million

Employees: 4,844

Based in China, Ganfeng Lithium is the largest Lithium Miner in the world. Their products are used in electric vehicles along with pharmaceuticals and chemicals. With mineral resources in Australia, Argentina, Mexico and China the company produces Lithium in its metal form and also in the form of compounds such as fluorides and chlorides.