Latin America is the region of the world with the largest amount of lithium. These trends indicate that control of the lithium industry could reap major benefits in the future, which will likely increase the geopolitical contention between great powers. ![]() Concomitantly, the strategic importance of lithium will grow as the world attempts to meet the increasing demand for electric vehicle batteries and clean energy. This trend is expected to continue well into the future-the lithium industry is expected to grow nearly eightfold by 2027. In the past five years alone, demand for lithium-ion batteries has skyrocketed, with the price of lithium doubling between 20. The creation of lithium-ion batteries in 1991 transformed electric technology by virtue of their power as rechargeable, lightweight batteries that could store large amounts of energy. As the impacts of climate change ripple across the globe, lithium’s importance as a strategic mineral will increase exponentially to become an essential component for the clean energy systems of the future.
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