Lithium Reserves: Top 4 Countries (Updated 2023)

1. Chile

Lithium reserves: 9,300,000 MT

Chile was the second biggest producer of lithium in 2022 at 39,000 metric tons (MT), but it has the most reserves in the world by a large amount. The country reportedly holds most of the world’s “economically extractable” lithium reserves, and its Salar de Atacama hosts approximately 37 percent of the world’s lithium reserve base.

SQM (NYSE:SQM) is a key lithium producer in Chile’s Salar de Atacama, and Albemarle (NYSE:ALB) is another top miner in Chile. In late April, Chilean President Gabriel Boric announced plans to nationalize the country's lithium industry in a bid to bolster the economy and protect the environment. “This is the best chance we have at transitioning to a sustainable and developed economy,” he said. The move means Chile will negotiate for a much larger stake in SQM and Albemarle's lithium assets in the country.

2. Australia

Lithium reserves: 3,800,000 MT

Interestingly, while Australia was the largest lithium-producing country in the world in 2022, it comes in at a distant second in terms of reserves of the important commodity.

The country is home to the Greenbushes lithium mine, which is operated by Talison Lithium, a subsidiary jointly owned by lithium producers Tianqi Lithium (SZSE:002466) and Albemarle, as well as Australian nickel-gold miner IGO (ASX:IGO,OTC Pink:IPGDF). Greenbushes has been producing lithium since 1985, and it has been the subject of multiple expansions in recent years.

3. Argentina

Lithium reserves: 2,700,000 MT

Argentina is the fourth largest lithium producer in the world, and last year it put out 6,200 MT of the metal. It ranks third in terms of global lithium reserves at 2,700,000 MT.

It’s worth noting that Chile, Argentina and Bolivia comprise the “Lithium Triangle,” which hosts more than half of the world’s lithium reserves. In May 2022, the Argentine government committed to investing up to US$4.2 billion in its lithium industry over the next three years with the goal of increasing lithium output.

4. China

Lithium reserves: 2,000,000 MT

China holds lithium reserves of 2,000,000 MT, and last year it produced 19,000 MT of the mineral, a 500 MT increase from the previous year. While it does have significant production and is working to increase it, the Asian nation currently still imports most of the lithium it needs for its battery cells from Australia.

China’s lithium usage is high due to its electronics manufacturing and electric vehicle industries. It also produces more than two-thirds of the world’s lithium-ion batteries and controls most of the world’s lithium-processing facilities.

Other lithium reserves by country

While Chile, Australia, Argentina and China are home to the world’s highest lithium reserves, other countries also hold significant amounts of the metal. Here’s a quick look at these other nations:

• United States — 1,000,000 MT
• Canada — 930,000 MT
• Zimbabwe — 310,000 MT
• Brazil — 250,000 MT
• Portugal — 60,000 MT

Total worldwide lithium reserves stand at 26,000,000 MT. If the lithium industry continues to grow, production will need to follow, and some of these countries with high reserves may become more significant players.

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