Top 10 Countries by Lithium Reserves 2024

As of 2024, the distribution of lithium reserves remains concentrated among a few countries, with Chile maintaining its position as the nation with the largest reserves despite Australia leading in production.

According to the USGS, there are about 30 million metric tons of lithium worldwide, with considerable regional differences in availability, economic feasibility, and extraction techniques.

Understanding Lithium Reserves vs. Resources

Significant differentiation between lithium reserves and resources:

• Lithium resources include identified deposits that may become economically viable in the future but aren’t currently classified as reserves.
• These additions represent deposits that can be economically removed using existing technologies and under current financial conditions.

According to the USGS, while global lithium reserves total approximately 30 million metric tons, worldwide measured and indicated lithium resources are substantially higher at about 115 million metric tons.

Global Lithium Reserves Distribution (2024)

The USGS Mineral Commodity Summaries 2025, released in January 2025 with 2024 data, provides the most authoritative breakdown of global lithium reserves. The distribution by country in thousands of metric tons (kt) is as follows:

• Chile: 9,300 kt (31% of global reserves)
• Australia: 7,000 kt (23.3% of global reserves)
• Argentina: 4,000 kt (13.3% of global reserves)
• China: 3,000 kt (10% of global reserves)
• United States: 1,800 kt (6% of global reserves)
• Canada: 1,200 kt (4% of global reserves)
• Zimbabwe: 480 kt (1.6% of global reserves)
• Brazil: 390 kt (1.3% of global reserves)
• Portugal: 60 kt (0.2% of global reserves)
• Namibia: 14 kt (0.05% of global reserves)
• Other countries: 2,800 kt (9.3% of global reserves)

Interestingly, about 67.6% of the world’s lithium is found in just three countries Chile, Australia, and Argentina showing how unevenly this key resource is spread.

Regional Concentration of Lithium Reserves

From a regional perspective, lithium reserves demonstrate clear geographical patterns:

• South America (Chile and Argentina): 13,300 kt (44.3% of global reserves)
• Oceania (Australia): 7,000 kt (23.3% of global reserves)
• Asia (primarily China): 3,000 kt (10% of global reserves)
• North America (United States and Canada): 3,000 kt (10% of global reserves)
• Africa (Zimbabwe and Namibia): 494 kt (1.65% of global reserves)
• Europe (Portugal): 60 kt (0.2% of global reserves)

The concentration of reserves in the ‘Lithium Triangle‘ in Chile, Argentina, and Bolivia emphasizes South America’s strategic leverage.

Global Lithium Resources: The Broader Picture

A more comprehensive picture emerges when examining lithium resources (rather than reserves). The USGS estimates global measured and indicated lithium resources at approximately 115 million metric tons, distributed as follows:

• Argentina: 23 million tons (20% of global resources)
• Bolivia: 23 million tons (20% of global resources)
• Chile: 11 million tons (9.6% of global resources)
• Australia: 8.9 million tons (7.7% of global resources)
• China: 6.8 million tons (5.9% of global resources)
• United States: 19 million tons (16.5% of global resources)
• Canada: 5.7 million tons (5% of global resources)
• Germany: 4 million tons (3.5% of global resources)
• Congo (Kinshasa): 3 million tons (2.6% of global resources)
• Mexico: 1.7 million tons (1.5% of global resources)
• Brazil: 1.3 million tons (1.1% of global resources)
• Other countries: 8.6 million tons (7.5% of global resources)

Key Observations on Resources vs. Reserves

Several notable observations emerge when comparing resources to reserves:

• Bolivia ranks among the top countries in resources (23 million tons) but doesn’t appear in the top reserves list, indicating challenges in economically extracting its lithium deposits under current conditions.
• The United States has substantially larger resources (19 million tons) than reserves (1.8 million tons), suggesting significant potential for future reserve expansion.
• Argentina’s resources (23 million tons) are nearly six times its current reserves (4 million tons), highlighting substantial growth potential.
• Australia’s resources-to-reserves ratio is lower than other major countries, indicating that a larger portion of its identified lithium is already classified as economically extractable.

Lithium Production in 2024: From Reserves to Market

While reserves indicate potential, actual production reveals which countries are actively extracting and supplying lithium to global markets. According to USGS data, global lithium production in 2024 reached approximately 240,000 metric tons (lithium content), distributed as follows:

• Australia: 88,000 metric tons (36.7% of global production)
• Chile: 49,000 metric tons (20.4% of global production)
• China: 41,000 metric tons (17.1% of global production)
• Argentina: 18,000 metric tons (7.5% of global production
• Zimbabwe: 22,000 metric tons (9.2% of global production)
• Brazil: 10,000 metric tons (4.2% of global production)
• Canada: 4,300 metric tons (1.8% of global production)
• Namibia: 2,700 metric tons (1.1% of global production)
• Portugal: 380 metric tons (0.2% of global production)

Production vs. Reserves Analysis

The relationship between reserves and production reveals important insights about each country’s lithium industry, like

• Australia leads production despite having fewer reserves than Chile, demonstrating the efficiency of its hard-rock mining operations.
• Zimbabwe produces a relatively high proportion of lithium relative to its reserves, indicating intensive exploitation of its resources.
• Chile produces at a lower rate than its reserve size, suggesting potential for production expansion.
• China maintains strong production despite moderate reserves, partly through processing lithium from other countries.
• Argentina shows significant production growth, doubting output from 8,630 metric tons in 2023 to 18,000 in 2024.

Types of Lithium Deposits and Extraction Methods

Lithium reserves exist in three primary forms, each requiring different extraction methodologies:

Brine Deposits

• Characteristics: Lithium-rich saltwater found beneath salt flats, primarily in South America’s “Lithium Triangle.”
• Extraction process: Pumping brine to surface evaporation ponds where solar evaporation concentrates the lithium over 12-18 months
• Typical concentration: 200-1,400 parts per million (ppm)
• Production cost: Generally lower than hard rock mining ($2,000-$3,500 per ton)
• Primary countries: Chile, Argentina, China, United States (Nevada)

Hard Rock/Mineral Deposits (Primarily Spodumene)

• Characteristics: Lithium is found in crystalline minerals, most commonly spodumene
• Extraction process: Conventional mining followed by crushing, heating, and chemical processing
• Typical concentration: 1-2% lithium oxide content
• Production cost: Higher than brine ($4,000-$6,000 per ton)
• Primary countries: Australia, Brazil, China, Portugal, Zimbabwe

Clay Deposits

• Characteristics: Lithium contained within clay minerals
• Extraction process: Still being developed at commercial scale; involves leaching with sulfuric acid
• Primary countries: United States (Nevada), Mexico
• Development status: Several projects are in development, but no primary commercial operations as of 2024

Applications and End-Use Markets

According to USGS data, global lithium end-use applications in 2024 were distributed as follows:

• Batteries: 87% of global lithium consumption
• Electric vehicle batteries
• Energy storage systems
• Consumer electronics
• Power tools
• Ceramics and glass: 5%
• Reduces melting points and thermal expansion
• Increases strength and durability
• Lubricating greases: 2%
• High-temperature stability
• Water resistance
• Air treatment: 1%
• Humidity control systems
• Continuous casting mold flux powders: 1%
• Steel manufacturing
• Medical applications: 1%
• Psychiatric medications
• Other uses: 3%
• Aluminum production
• Concrete setting acceleration
• Pool chemicals

The dominance of battery applications has grown substantially over the past decade.

Strategic Developments and Market Trends

Several significant developments shaped the lithium market in 2024 are like:

• Government initiatives: The U.S. Department of Energy announced $3 billion in funding across 25 projects to support domestic lithium production and processing capabilities.
• Production capacity expansions: Despite lower prices, significant expansions occurred in Argentina, Chile, China, and Zimbabwe.
• New project development: Various lithium projects in different stages of development across multiple countries, including exploration of unconventional sources like geothermal and oilfield brines.

Future Outlook and Challenges

As the world transitions toward electrification and renewable energy storage, several factors will influence the lithium landscape:

Supply Factors

• Reserve expansion: Continued exploration and technological advances will likely increase economically viable reserves
• Production capacity growth: Significant lithium production capacity growth is expected in the coming years, particularly for battery-grade lithium compounds
• New extraction technologies: Development of direct lithium extraction (DLE) and other advanced technologies may unlock previously uneconomic resources
• Recycling: Increased lithium recycling capabilities could supplement primary production in the medium to long-term

Demand Drivers

• Electric vehicle growth: Continued expansion of the global electric vehicle market will drive lithium demand
• Energy storage systems: Grid-scale storage and behind-the-meter storage applications are expanding rapidly
• Consumer electronics: Ongoing growth in portable devices maintains steady demand
• Industrial applications: Traditional uses in ceramics, glass, and lubricants provide baseline demand

Potential Challenges

Lithium extraction from brine is being scrutinized due to its high water usage in arid and sensitive regions.

Environmental concerns are growing in response to stricter regulations and local opposition regarding ecological impacts. Furthermore, the geographic concentration of lithium reserves increases supply chain risks and geopolitical tensions.

Conclusion

The global lithium landscape in 2024 reflects the mineral’s growing strategic importance in the worldwide energy transition.

While reserves remain concentrated in a few countries, Chile (9,300 kt), Australia (7,000 kt), and Argentina (4,000 kt), leading to a broader picture of resources suggests significant potential for future reserve growth across more diverse geographies.

Australia’s production leadership, despite smaller reserves, highlights the importance of technological capabilities and economic factors beyond simple resource possession.

As demand grows, driven primarily by battery applications (87% of consumption), countries with significant lithium resources face opportunities and challenges in developing economically viable extraction operations.  

Strategic developments in extraction technologies, processing capabilities and recycling will determine which countries can most effectively leverage their lithium endowments to capture value in an increasingly electrified global economy.

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