Global Lithium Supply Map: Who Controls the World's Battery Metal Reserves?

The race for lithium dominance isn’t just about production numbers—it’s about who sits on the planet’s largest untapped reserves. As lithium-ion battery demand accelerates, investors are increasingly scrutinizing reserve bases rather than current output alone. The distinction matters: a country can dominate production today while another builds tomorrow’s supply advantage through vast deposits waiting to be extracted.

Why Lithium Reserves Matter More Than You Think

Battery metal reserves tell a different story than annual production figures. While one nation might lead this year’s output, another country’s geological wealth positions it as a long-term power player. With global lithium reserves standing at approximately 30 million metric tons as of 2024 (per US Geological Survey data), understanding where these deposits lie is critical for investors tracking the energy transition and EV supply chains.

Lithium demand is accelerating at an unprecedented pace. Industry forecasts suggest EV and energy storage system (ESS) lithium demand will both jump more than 30 percent year-on-year in 2025 alone. This surge stems from lithium-ion batteries powering electric vehicles and grid-scale energy storage—two sectors fundamental to decarbonization strategies worldwide.

The Reserve Leaders: Four Countries Dominating Supply

Chile: The Lithium Powerhouse (9.3 Million Metric Tons)

Reserve holdings: 9.3 million MT

At the top sits Chile, controlling roughly 31 percent of the world’s lithium reserves. The Salar de Atacama region alone accounts for approximately one-third of global deposits, though Chile ranks only second in actual production output (44,000 MT in 2024). This gap reveals a critical reality: the country’s mining regulatory framework has historically constrained development pace despite resource abundance.

Major operators SQM and Albemarle dominate Chilean production, with state-owned Codelco having recently expanded its stakes in both companies’ assets. In early 2025, Chile launched fresh bidding rounds for seven lithium contracts across six salt flats, indicating plans to accelerate extraction rates. Strategic partnerships—including Eramet, Quiborax, and state players—suggest intensified development timelines ahead.

Australia: Hardrock Dominance (7 Million Metric Tons)

Reserve holdings: 7 million MT

Australia’s 7 million metric tons of lithium reserves exist primarily as hard-rock spodumene deposits concentrated in Western Australia. Unlike the brine-based reserves of its South American counterparts, Australia’s geological profile enables rapid mining operations—a fact reflected in its 2024 position as the world’s top lithium producer despite holding fewer reserves than Chile.

The Greenbushes mine, jointly operated by Talison Lithium (a venture uniting Tianqi Lithium, IGO, and Albemarle), exemplifies this advantage, having continuously produced since 1985. However, recent price volatility has forced several operators to curtail output pending market stabilization.

Emerging research reveals untapped lithium potential beyond Western Australia’s traditional mining zones. University of Sydney-led studies mapping soil lithium density have identified prospective regions in Queensland, New South Wales, and Victoria—suggesting Australia’s reserve base may expand significantly as exploration intensifies.

Argentina: The Triangle Opportunity (4 Million Metric Tons)

Reserve holdings: 4 million MT

Argentina holds the third-largest reserve base globally at 4 million metric tons, positioning it as a cornerstone of the renowned Lithium Triangle—the Argentina-Bolivia-Chile corridor hosting over half of planetary lithium resources. Despite smaller reserves than its neighbors, Argentina ranked fourth in global production (18,000 MT in 2024) with notable growth trajectory.

Government backing fuels expansion ambitions. A 2022 commitment pledged US$4.2 billion toward industry development, while 2024 approvals green-lit Argosy Minerals’ Rincon salar expansion from 2,000 to 12,000 MT annual carbonate output. Most significantly, mining giant Rio Tinto announced a US$2.5 billion investment to scale its Rincon operations from 3,000 to 60,000 MT capacity by 2028—a transformative bet on Argentine supply chains.

The country’s cost-competitive production positioning ensures viability even during low-price cycles, with approximately 50 advanced mining projects in development stages.

China: The Processing Superpower (3 Million Metric Tons)

Reserve holdings: 3 million MT

China’s 3 million metric tons of lithium reserves represent a smaller base than global leaders, yet its strategic importance extends far beyond raw deposit size. The nation controls the majority of global lithium-ion battery manufacturing and lithium-processing infrastructure, making reserve volume a secondary concern relative to downstream dominance.

China combines diverse deposit types—brines (primary), spodumene, and lepidolite—to meet manufacturing demand. Production surged to 41,000 MT in 2024, though the nation still imports most lithium for battery cells from Australian suppliers. The country’s electronics and EV industries drive unusually high domestic consumption.

Recent developments signal intensified reserve expansion. Early 2025 reporting claimed China has boosted proven lithium reserves to account for 16.5 percent of global resources (up from 6 percent previously), attributed partly to discovery of an extensive lithium belt in western regions with proven reserves exceeding 6.5 million tons of ore and potential resources surpassing 30 million tons. These figures, if verified, would substantially alter global reserve distribution narratives.

US State Department officials have criticized China’s market flooding strategy, accusing the nation of predatory pricing designed to eliminate non-Chinese competition—a dynamic reflecting lithium’s elevated geopolitical significance.

Beyond the Big Four: Emerging and Secondary Reserves

While the quartet above dominates global lithium endowments, secondary reserve holders are gaining traction:

• United States: 1.8 million MT reserves
• Canada: 1.2 million MT reserves
• Zimbabwe: 480,000 MT reserves
• Brazil: 390,000 MT reserves
• Portugal: 60,000 MT reserves (Europe’s largest holder)

Portugal produced 380 MT in 2024, establishing itself as Europe’s lithium production center. Meanwhile, Mexico and other emerging players are ramping exploration efforts, gradually building reserve recognition and processing capabilities.

The lithium map continues evolving. As battery demand sustains explosive growth and energy storage deployment accelerates, countries previously overlooked are investing heavily in reserve quantification and mine development. The reserve leaders of 2024 will likely face intensified competition from secondary producers entering the decade, fundamentally reshaping global battery supply chains.

Key Takeaways

The world’s largest lithium reserves remain concentrated in four nations—Chile, Australia, Argentina, and China—collectively controlling approximately 23.3 million metric tons. Yet reserves alone don’t determine market power; extraction capability, processing infrastructure, regulatory environments, and geopolitical positioning shape real-world supply dynamics. Investors tracking this sector should monitor not only reserve figures but also development timelines, government policy shifts, and emerging competitors entering the space. The lithium landscape of 2025 is increasingly multipolar, with reserve-rich nations racing to operationalize deposits faster than ever before.