Demand for lithium is predicted to grow 40-fold in the next two decades due to the energy transition to renewable power and electric vehicles.

Global lithium production will need to increase over x5 by 2030 to meet global net-zero targets, which will need an investment of over US$116 billion.

Latin America’s investment in lithium exploration has doubled over the last ten years, from US$44 million in 2010 to US$91 million in 2021.

With around 54 million tons, Argentina, Bolivia and Chile account for more than 60% of the world's lithium reserves.

Chile is the largest lithium producer in the region, with an estimated output of 26 thousand metric tons in 2021.

Chile and Argentina are projected to account for 38% of the global supply, once all the projects in the pipeline come online, which is expected to occur in 2023 and 2024.

Argentina holds the world’s second largest lithium reserves, with 19.3 million tons (over 20%) of global supply and has the world’s largest lithium project pipeline.

Argentina has 41 other early-stage projects slated for completion beyond 2025.

In Chile, Sociedad Química y Minera de Chile (SQM) and Albemarle, are scheduled to increase production in Salar de Atacama between 140,000 to 180,000 tons LCE by 2030

Chile announced the partnership between the state-owned mining company Corporación Nacional del Cobre de Chile (Codelco) and the private company SQM to advance in the production and exploitation of Lithium, within the framework of the National Lithium Strategy.

Bolivia is promoting a comprehensive Lithium plan, according to which by 2026 the Plurinational State would be the world's leading lithium producer, with more than 100,000 tons per year.

Bolivia, has two major projects in the pipeline, worth $1.4 billion each, and signed between the state-run Yacimientos de Litio Bolivianos (YLB) and Chinese and Russian companies, aim to collectively produce 100,000 tons of LCE per year by the end of 2025 at the massive Uyuni and Coipasa salt flats.