Interest in lithium has exploded in recent years because of its use in rechargeable batteries for electric and hybrid cars, lawnmowers, power tools and more. Lithium batteries also power laptops and cell phones.
Lithium reserves are for the most part, distributed widely across the globe, however the U.S. is home to just one active lithium mine today, located in the deserts Nevada. This sole mine is not producing anywhere near the amount of Lithium needed to accommodate the population.
“Nobody really foresaw this huge spike in demand,” said Victor Ayala, Executive Vice Chairman of L.T. Extraction Works. “The U.S owned the lithium space for a very long time, and now they have forfeited and handed their stake to China.”
“They will need to start ramping up production.” Ayala continued, “and ramping up in a big way right now or face being out of the lithium race completely.”
Ayala expressed that he doesn’t see that demand is going to ease up any time soon. “Worldwide demand for lithium was about 350,000 tons (317,517 metric tons) in 2020, now we have industry estimates projecting demand will be up to six times greater in the next 7 to 8 years, this puts us in a very competitive position moving forward towards 2030.”
Lithium mining projects can also represent a challenge for environmentalists because they carry the promise of decarbonization in exchange for heavy impacts on ecosystems and local communities. Lithium mining could jeopardize water quality and ranching in some states.
“The big challenge for the U.S is making sure lithium mines are located in places where they do the least amount of damage to the environment,” said Ayala when asked further. “Lithium mining could jeopardize water quality and ranching in some states if not properly maintained.”
About Us:
Based in the Argentinian capital city of Buenos Aires, L.T. Extraction works is a mining company specializing in the extraction of metals, principally lithium, for supply to the global market. We operate several large-scale, highly productive mines in the South American countries and around the region, allowing us to deliver consistent supplies to global clients, industries and businesses.
L.T. Extraction works
Torre Renoir II, Marta Lynch 485
Puerto Madero, Ciudad Autonoma
Buenos Aires
Argentina 1106
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Company Name: L.T. Extraction Works
Contact Person: Paulina Maldonado
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Phone: +541168419098
Country: Argentina
Website: www.ltextractionworks.com
