Industry reports and global trade statistics

China Tightens Export Controls on Battery Technologies Amid U.S. Lithium Discovery of 40 Million Tons, Boosting Reserves from 6% to 16.5%

Jan 8, 2025, 02:53 AM

China has intensified its export controls on battery technologies amid escalating trade tensions, as the U.S. discovers a substantial lithium resource beneath the McDermitt Caldera, estimated at 40 million tons. This development comes as China tightens its grip on critical minerals, including a ban on antimony exports and proposed restrictions on lithium. Currently, China processes 70% of the world's lithium, which poses challenges to Western electric vehicle and battery sectors. Additionally, China's lithium reserves have increased from 6% to 16.5% of the global total, elevating the country from the sixth to the second-largest holder of lithium reserves, according to the Ministry of Natural Resources. This surge in reserves is significant for industries reliant on lithium, including electric vehicles and energy storage.