The renewable energy revolution has caused an ever growing demand for rechargeable batteries which is causing lithium to become a more important resource. Lithium is a vital component of batteries that are used to power many important things like our phones, laptops, and electric vehicles. Goldman Sachs has called lithium “the new gasoline” because of its importance in a more battery oriented clean energy future. Governments and businesses all over the globe are scrambling to secure lithium resources. Lithium has become one of the world’s hottest commodities and the price of lithium carbonate has more than doubled in the two months leading up to the end of December. Countries that have an abundance of lithium resources are going to benefit in this surge in demand for a resource that is crucial for the green energy revolution.
See San Pedro Atacama, An increasingly precious metal, The Economist, January 16, 2016.
