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China Jumps Ahead in the Rush to Secure Lithium From Africa
The continent is set to become an important source of raw materials for the world’s top EV battery producer.
Global supply of lithium raw materials is forecast to jump 35% this year.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
China’s early move to tap new centers of lithium supply across Africa is reaping rewards, helping the top electric-vehicle battery producer navigate a tight market for the key metal.
Spurred by a flurry of investment from Chinese companies, mines across the continent are forecast to increase production of lithium raw materials more than 30-fold from last year’s volume by 2027, according to S&P Global Commodity Insights. Africa will account for 12% of global supply by then, compared with 1% in 2022.