Lithium Shortage Straining Battery Supply

Market research forecasts that the lithium-ion batteries market will reach $43 billion by 2020.

Published: 15-Aug-2012

A shortage of lithium is driving up consumer prices for battery powered mobile gadgets, writes The Saudi Gazette.

Lithium is the main ingredient in long-life batteries used in smartphones, tablets, electric vehicles and other sought-after products. In recent years, the mineral's priced tripled as demand spiked.

Paul Watson, CEO for GTSO resources, the mining subsidiary of Green Technology Solutions, warned that the release of the iPhone 5 will further strain global stockpiles. The market for lithium is now valued at $1 billion a year. Market research forecasts that the lithium-ion batteries market will reach $43 billion by 2020.

<< PREVIOUSNEXT >>
RELATED NEWS ITEMS

Trolza electric bus prototype developed in Russia and first exhibited in October 2011 in Moscow.

New factory, a joint venture between RUSNANO and Thunder Sky, will have 1 GWh capacity, equivalent to equipping 500,000 electric buses.

Zabuye Salt Lake in Tibet

Gabriel Lafitte recounts environmental damage being done by extraction of lithium from Tibet's high mountain salt lakes.

Salinas Grandes, in Northwestern Argentina covers 17,000 sq. km. Flickr photo by Guslight.

Mineral compounds containing lithium are abundant in a vast region in southern Bolivia, northwest Argentina and northern Chile

READER COMMENTS

blog comments powered by Disqus