Global Lithium Reserves: Which Countries Hold the World's Battery Metal Supply

The race for lithium reserves has become increasingly crucial as the global transition to electric vehicles and renewable energy accelerates. Understanding which countries have the most lithium isn’t just an academic exercise—it’s fundamental to grasping the future of clean energy infrastructure and identifying where production bottlenecks may emerge.

Understanding the Scale: Global Lithium Distribution

As of 2024, the world’s total lithium reserves stand at 30 million metric tons. However, this supply is highly concentrated geographically. Just four nations—Chile, Australia, Argentina, and China—control approximately 20.3 million metric tons combined, representing roughly 68% of all identified reserves globally. This concentration underscores the strategic importance of these countries in the emerging battery economy.

Benchmark Mineral Intelligence projects that lithium demand will surge further, with both electric vehicle and energy storage system-related consumption expected to exceed 30% year-on-year growth in 2025 alone. This explosive demand trajectory means that nations with substantial reserves possess significant geopolitical and economic leverage.

The Lithium Triangle: South America’s Dominance

Chile: The Reserve Leader (9.3 Million Metric Tons)

Chile’s position as the world’s premier lithium reserve holder is unquestionable, containing 9.3 million metric tons—nearly one-third of global identified reserves. The Salar de Atacama region alone accounts for approximately 33% of the planet’s lithium reserve base, making it an irreplaceable node in the global supply chain.

Despite hosting the largest reserves, Chile ranked as only the second-largest producer in 2024, yielding 44,000 metric tons. This production gap reflects regulatory and environmental constraints. In April 2023, the Chilean government signaled its intent to partially nationalize the lithium sector through increased state control via Codelco, the national mining company. This shift has created friction between national interests and private operators like SQM and Albemarle.

Looking ahead, Chile’s 2025 lithium concession bidding process—with winners to be announced in March—will reshape the competitive landscape. Notably, a consortium featuring French mining group Eramet, Chilean miner Quiborax, and Codelco has positioned itself as a key contender across multiple salt flats.

Argentina: The Emerging Challenger (4 Million Metric Tons)

Argentina holds 4 million metric tons of lithium reserves, positioning it as the third-largest holder globally. What distinguishes Argentina is its momentum: the country produced 18,000 metric tons in 2024 and has secured significant government commitments. A US$4.2 billion investment pledge made in May 2022 targets sustained capacity expansion.

Recent developments amplify Argentina’s trajectory. Rio Tinto’s announced US$2.5 billion investment to scale operations at Rincon salar from 3,000 to 60,000 metric tons by 2028 represents one of the industry’s most ambitious expansion plays. Simultaneously, Argosy Minerals received government approval to increase carbonate production from 2,000 to 12,000 metric tons annually at the same location. These projects reflect confidence in Argentina’s cost-competitiveness and operational stability.

Bolivia: The Third Triangle Member

While not in the top four globally, Bolivia—alongside Chile and Argentina—comprises the “Lithium Triangle,” a region collectively housing more than half of the world’s lithium reserves. This triadic dominance highlights South America’s indispensable role in meeting projected battery metal demands.

Australia: Hard-Rock Alternative (7 Million Metric Tons)

Australia represents the world’s second-largest lithium reserve holder at 7 million metric tons, yet it outperformed all nations as 2024’s top producer, delivering a higher output than Chile. This paradox reflects Australia’s operational advantage: its deposits exist predominantly as hard-rock spodumene concentrations in Western Australia, enabling large-scale extraction.

The Greenbushes mine, jointly operated by Talison Lithium (a partnership of Tianqi Lithium and Albemarle), exemplifies this model. Operating continuously since 1985, Greenbushes anchors Australia’s production capacity. However, recent lithium price deflation has prompted several producers to temporarily curtail or suspend operations, creating supply uncertainty.

Emerging research suggests expansion potential beyond Western Australia. A 2023 University of Sydney-led study, published in Earth System Science Data, identified elevated lithium concentrations in Queensland, New South Wales, and Victoria soils—indicating future production diversification prospects as market conditions stabilize.

China: Processing Powerhouse (3 Million Metric Tons)

China holds 3 million metric tons of lithium reserves—the fourth-largest globally—yet its true dominance lies in downstream control. The nation produces 41,000 metric tons annually (up 5,300 metric tons year-on-year), manufactures the majority of the world’s lithium-ion batteries, and operates most global lithium-processing facilities.

This paradox matters strategically. Despite robust reserve holdings, China imports most raw lithium from Australia, leveraging its cost advantages and processing infrastructure to dominate the battery supply chain. Crucially, in October 2024, US State Department officials publicly accused China of deploying predatory pricing tactics to suppress ex-China competition and consolidate market control.

Recent developments suggest China’s reserve picture may shift dramatically. Early 2025 reports indicate the discovery of a 2,800-kilometer lithium belt across western regions, with proven reserves exceeding 6.5 million tons and potential resources surpassing 30 million tons. If validated, this would fundamentally rebalance global supply dynamics. Concurrently, technological advances in salt lake and mica lithium extraction are expanding China’s reserve accessibility.

Secondary Reserves and Future Producers

Beyond the dominant four, several nations maintain meaningful lithium inventories:

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

Portugal, specifically, produced 380 metric tons in 2024, demonstrating that even smaller reserve holders can participate meaningfully as production infrastructure matures.

Strategic Implications for the Battery Metal Market

Which countries have the most lithium is ultimately a question with profound market consequences. The concentration of reserves among four nations creates both opportunity and risk. Geopolitical tensions, regulatory shifts, and production disruptions in any major reserve holder ripple globally. The acceleration of vehicle electrification and grid-scale energy storage demands ensures that lithium availability will remain central to energy security discussions throughout this decade and beyond.

As production continues scaling and new reserves are discovered—particularly China’s potential belt discoveries—the competitive hierarchy may shift, but South America’s Lithium Triangle will likely retain its foundational importance to global supply chains for decades to come.