It includes the firm's lithium carbonate, hydroxide and metal production.Īlbemarle has a broad portfolio of lithium mines and facilities, with extraction in Chile, Australia and the US.
Following a realignment in 2022, the lithium giant now has two primary business units, one of which - the Albemarle Energy Storage unit - is focused wholly on the lithium-ion battery and energy transition markets. North Carolina-based Albemarle is not only the largest lithium company by market cap, but also the top lithium producer in the world with over 7,000 employees globally. Data was current as of September 6, 2023. Read on for an overview of the current top lithium-producing firms by market cap. While Albemarle and SQM's existing contracts will be respected, the country's state mining company Codelco is working with Albemarle and SQM to renegotiate the contracts with conditions including payments to the state and keeping R&D in the country.Īll in all, lithium investors have a lot to keep an eye on as the space continues to shift and strengthen. The resultant company is projected to have a production capacity of 248,000 metric tons (MT) of lithium carbonate equivalent per year.Īs for Chile, the country's lithium landscape is changing following the announcement of its National Lithium Strategy earlier this year, which will result in future lithium projects having public-private partnerships. Mergers and acquisitions are common in the lithium space, with the biggest news this year coming in May, when Allkem (ASX: AKE,OTC Pink:OROCF) and Livent announced a US$10.6 billion merger of equals. Joint ventures can offer investors different ways to get exposure to mines and jurisdictions. The remaining 49 percent stake in Talison is owned by Albemarle. For example, Australia’s largest lithium mine, Greenbushes, is owned and operated by Talison Lithium, which is 51 percent controlled by Tianqi Lithium Energy Australia, a joint venture between China’s Tianqi Lithium (OTC Pink: TQLCF,SZSE:002466,HKEX:9696) and Australia’s IGO (ASX: IGO,OTC Pink:IPDGF). In fact, China was the third largest lithium-producing country in 2022 in terms of mine production, behind Australia and Chile.Ĭhinese companies are mining in other countries as well, including top producer Australia, where a few are part of major lithium joint ventures. While Australia has long been a top-producing country when it comes to lithium, China has risen quickly to become not only the top lithium processing and refining country, but also a major miner of the commodity.
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