Can Czech lithium compete globally? Argentina aims to double output by 2030

Expectations of further growth in demand for batteries, whether from electric vehicle manufacturers or developers of stationary battery storage facilities, are an attractive factor for lithium miners. Major plans to increase extraction of this currently critical raw material are evident not only in the Czech Republic; new projects are also being developed abroad. Argentina is one example, with ambitions to strengthen its position on the global market. Lithium production in this South American country is expected to more than double by the end of this decade.

Lithium is currently still a critical raw material for battery production, with batteries increasingly being used in road transport and the power sector. It is no surprise that a number of countries and companies around the world are seeking new lithium production capacity.

These projects continue despite the significant fall in lithium prices in recent years, which have experienced considerable volatility in recent years – while a tonne of lithium traded for more than $80,000 at the end of 2022, the price fell to as little as one-tenth of that value in the middle of last year. Since the start of this year, however, prices have partially recovered to above $20,000 per tonne.