How much lithium does Chile export in 2022?

From a national significance perspective, the rise in lithium prices in 2022 led to Chilean lithium exports reaching $8.14 billion, eight times more than in 2021. In the same vein, Cochilco states that lithium has become a significant industry for Chile, representing 8.3% of total goods exports in 2022.

Why is lithium so popular in Chile?

Lithium has characteristics that make it technically superior: it is lighter, safer, and has a higher energy density. Chile is in pole position to supply lithium to the global market. It owns 36 percent of economically recoverable lithium reserves and accounts for about 26 percent of global production.

What is Chile's new lithium strategy?

On April 20, the Chilean government announced its new lithium strategy, which plans to give control of the country’s lithium industry to the state.

Can Chile extract lithium from Atacama salt flat?

For now, it has assigned Codelco, Chile’s state-owned copper mining company, to lead talks with private companies over new terms for extracting lithium from the prized Atacama salt flat.

Will Chile's lithium supply deficit affect EV adoption?

The world is not on track to meet this lithium demand, with an expected deficit of 12.5 percent by 2030. Supply deficits mean higher lithium prices, which in turn will be reflected in higher battery costs, slowing down EV adoption. Any setback to Chile’s lithium supply would add to that supply deficit and to costs.

Which country has the most lithium?

As minerals that feed electric-vehicle batteries become the new oil, the highest-value battery metal is lithium — and the nation with the most of it is Chile. That’s why Chile’s new approach to lithium, one that tips the balance away from private companies and toward government control, is of keen global interest. 1.