In this article, we will take a look at the 15 most valuable lithium companies in the world. You can skip our detailed analysis of the growing lithium industry, and go directly to the 5 Most Valuable Lithium Companies in the World.
Lithium has been at the forefront of many technological advancements over the last three decades. A low-density metal, lithium is on its way to change the future for the better. The lithium-ion battery, in particular, has taken the world by storm, facilitating the mobile and smartphone industries and, in the last decade, electric vehicles.
According to a report published by EnviroCORE in 2018, lithium is one of the most crucial pieces of the green energy puzzle and is of great importance to the European Union in terms of demand and consumption.
In the last 20 years alone, there has been an exponential increase in the consumption of metals worldwide. The global lithium industry is a rapidly expanding one and analysts expect the current demand for lithium at 77,000 tonnes to double by 2024. This is primarily due to the decline in cost and improved performance of lithium-ion batteries.
As of 2018, approximately 39% of global lithium production was channeled into manufacturing lithium-ion batteries. The market is only expected to grow by 2024 to an estimated $210 million, with lithium-ion batteries taking up 66% of global lithium production. The demand of lithium is seeing a surge worldwide as companies like Tesla Inc (NASDAQ: TSLA), Albemarle Corporation (NYSE: ALB), Sociedad Quimica y Minera de Chile (NYSE: SQM), EnerSys (NYSE: ENS) and Livent Corporation (NYSE: LTHM) continue to make energy-efficient products.
We have selected the 15 biggest and most notable lithium companies and ranked them according to their market capitalization from lowest to highest. Many of these companies have operations in up to 20 countries. There is a special focus on the lithium mining projects these companies are currently involved in and the lithium-based products that they supply to their partners.
With this context and industry outlook in mind, let’s now discuss our list of the 15 most valuable lithium companies in the world.
15. Savannah Resources Plc (LSE: SAV.L)
Market Cap: $86.31 million (as of August 17)
Savannah Resources Plc (LSE: SAV.L) is to play an incredibly significant role in Europe’s green revolution. The company is currently in the middle of a new lithium project, Mina da Barroso, highlighting a strong position in 2021. The new project is located in Portugal and the company also has interests in Mozambique. It is set to be the most prestigious spodumene lithium project in all of Western Europe.
As the EV revolution led by companies like Tesla Inc (NASDAQ: TSLA) causes a surge in lithium demand, companies like Savannah Resources Plc, along with Albemarle Corporation (NYSE: ALB), Sociedad Quimica y Minera de Chile (NYSE: SQM), EnerSys (NYSE: ENS) and Livent Corporation (NYSE: LTHM) are expected to gain in the coming years.
14. Bacanora Lithium Plc (LSE: BCN.L)
Market Cap: $304.67 million (as of August 17)
Bacanora Lithium PLC (LSE: BCN.L) is a company based in the United Kingdom that manufactures lithium-ion batteries. Currently, the company is commercializing its newest project in Mexico, the Sonora Lithium Project. It has a production capability of 35,000 metric tonnes per annum of lithium carbonate.
13. Piedmont Lithium Inc. (NASDAQ: PLL)
Market Cap: $870 million (as of August 17)
Piedmont Lithium Inc (NASDAQ: PLL), a US-based company, located on the Carolina Tin Spodumene Belt of North Carolina, produces lithium hydroxide and is targeted towards clean energy and powering electric vehicles (EVs).
According to Piedmont Lithium’s March Quarterly Report 2021, the company entered into an agreement with Sayona Quebec, purchasing a 25% stake. The company also increased its total mineral resources for its flagship operations, Piedmont Lithium Carolina.
12. Lithium Americas Corp. (NYSE: LAC)
Market Cap: $1.84 billion (as of August 17)
Lithium Americas Corp (NYSE: LAC) is a company based in Canada, currently operating two of the largest lithium projects, Thacker Pass in the US and Cauchari-Olaroz in Argentina. The Thacker Pass lithium project is expected to be commissioned in 2022 with a production capacity of 30,000tpa of battery-grade lithium carbonate.
11. Galaxy Resources Limited (ASX: GXY.AX)
Market Cap: $1.93 billion (as of August 17)
Galaxy Resources Ltd. (ASX: GXY.AX) is one of the leading producers of lithium. It has several operations and projects under its belt including a hard-rock mine in Western Australia, a hard-rock spodumene project in Canada, and a brine project in Argentina. Galaxy Resources Ltd (ASX: GXY.AX) is also working to develop its flagship project in Argentina, Sal de Vida. It also caters to the demand of the North American and European markets for electric vehicles.
10. Orocobre Limited (ASX: ORE.AX)
Market Cap: $2.36 billion (as of August 17)
Orocobre Ltd. (ASX: ORE.AX) is one of the leading companies in Argentina’s Lithium Triangle. Orocobre Ltd. (ASX: ORE.AX) is also in partnership with Toyota Tsusho Corporation (TSE: 8015.T), operating a brine-based lithium operation. The company is also underway to construct a 10,000tpa lithium hydroxide plant in Naraha, Japan.
9. Livent Corporation (NYSE: LTHM)
Market Cap: $3.69 billion (as of August 18)
Livent Corp (NYSE: LTHM) is a lithium company based in Philadelphia, with its primary focus on the production of lithium hydroxide. Livent Corp (NYSE: LTHM) signed an agreement with Tesla Inc (NASDAQ: TSLA) to increase the volume of its supply in 2021 and analysts expect the partnership to extend through 2022.
Additionally, Livent Corp (NYSE: LTHM) is pursuing a joint venture to buy Nemaska Lithium Inc’s (TSX: NMX) projects in Canada. It is expected to obtain 50% of Nemaska Lithium Inc (TSX: NMX).
As the EV revolution led by companies like Tesla Inc (NASDAQ: TSLA) causes a surge in lithium demand, companies like Livent Corp (NYSE: LTHM), Savannah Resources Plc, along with Albemarle Corporation (NYSE: ALB), Sociedad Quimica y Minera de Chile (NYSE: SQM) and EnerSys (NYSE: ENS) are expected to gain in the coming years.
8. EnerSys (NYSE: ENS)
Market Cap: $3.79 billion (as of August 18)
EnerSys (NYSE: ENS) manufactures the NexSys ion battery, handling the most advanced lithium-ion technology. EnerSys is one of the world’s largest industrial battery producers. In July 2021, EnerSys (NYSE: ENS) signed a memorandum of understanding with Lithium Technology Corporation, becoming its exclusive distributor. This will allow for a diversified range of lithium product options, thereby also increasing EnerSys (NYSE: ENS) exposure in the battery market.
EnerSys (NYSE: ENS) is among several lithium giants that continue to grow, along with Albemarle Corporation (NYSE: ALB), Sociedad Quimica y Minera de Chile (NYSE: SQM) and Livent Corp (NYSE: LTHM).
7. Pilbara Minerals Limited (ASX: PLS.AX)
Market Cap: $4.47 billion (as of August 17)
Pilbara Minerals Ltd (ASX: PLS.AX) is an Australia-based company, located in the Pilbara region, the heart of its Pilgangoora Operation for the production of spodumene. Pilbara Minerals Ltd (ASX: PLS.AX) has many global partners including Ganfeng Lithium Co Ltd (SZSE: 002460.SZ), General Lithium, and Great Wall Motor Company. It also owns 100% of the world’s largest hard-rock lithium operation.
6. Sichuan Yahua Industrial Group
Market Cap: $5 billion (as of August 18)
Sichuan Yahua Industrial Group is a Chinese company that is involved in manufacturing and sales of lithium carbonate, lithium hydroxide and other lithium salt products. Its main operations include industrial explosives, industrial detonators, industrial cords, industrial detonators, customized civil explosive products. In December 2020, the company said it signed a deal with Tesla to supply battery-grade lithium hydroxide to the EV maker for the next five years.
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Disclosure: None. 15 Most Valuable Lithium Companies in the World is originally published on Insider Monkey.
A previous version of this article mentioned FMC among the most valuable lithium companies. FMC decided to spin-off its lithium business under Livent in 2018.