{
  "id": 15969363,
  "title": "Lithium’s $100B question: Who will build 134 new mines?",
  "url": "https://urgent.news/2026/10/21/lithiums-100b-question-who-will-build-134-new-mines",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-21T23:01:00.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/lithiums-100b-question-who-will-build-134-new-mines/"
  },
  "original_language": "en",
  "account": "Lithium demand is projected to triple by 2050, necessitating 134 new mines and $100 billion in investment as electric vehicles become more common, according to Benchmark Mineral Intelligence. Consumption is expected to surge to nearly 7 million tonnes of lithium carbonate equivalent (LCE) from 2.11 million tonnes annually by mid-century. To meet this demand, the equivalent of one new mine would need to be built every two months over the next 24 years. The primary hurdle is sustaining investment through price fluctuations while vying for capital with AI, defense, and other sectors of the energy transition. This challenge is compounded by financing constraints, lengthy permitting processes, and competition for investment, particularly in Western markets aiming to decrease reliance on China. Electric vehicles are projected to consume 76% of lithium by 2050, up from 55% today, while stationary energy storage now accounts for 92% of consumption, up from around 70% in 2020. Australia, the world's leading lithium mining nation, is projected to supply 29% of global mined lithium by 2050, down from 29% this year as existing operations deplete and new producers enter the market. North America could rise to 13% of mined lithium output from 1.7% today, while Europe's share will remain below 1%. However, developing mines in these regions could be challenging due to unproven technologies, environmental concerns, and community opposition. The recycling of used batteries could offset the need for new mining, potentially meeting almost half of lithium supply by mid-century. However, this relies on sufficient volumes of recycled material and recycling remaining cost-competitive. The capital expenditure required to meet lithium demands through 2040 is estimated at $64 billion, assuming recycling contributes significantly to future demand. Timing is crucial as batteries cannot be recycled until they reach the end of their useful life.",
  "summary": "BMI forecasts lithium demand will more than triple by 2050, requiring a massive mining expansion to meet EV growth.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}