Iran announces the discovery of a huge stockpile of lithium in Hamedan

An official in the Ministry of Industry, Mining and Trade in Iran announces the discovery of a huge stockpile of lithium in Hamedan, estimated at 8.5 million tons.

• The lithium deposits discovered by Iran in Hamedan are estimated at 8.5 million tons

Iran announced the discovery of a huge stockpile of lithium, which is an essential component for the production of batteries for electric cars and electronic devices, according to state media.

And state television quoted the official in the Ministry of Industry, Mining and Trade, Muhammad Hadi Ahmadi, as saying today, Saturday, that “for the first time in Iran, a stockpile of lithium was discovered in Hamedan.”

This stockpile is estimated at “8.5 million tons,” according to the director general of the employment department in the ministry.

Dubbed “21st century oil”, lithium is needed to make batteries for electric cars, and is supposed to allow cars to dispense with fuel that emits carbon dioxide.

This “white metal” is also needed to produce the rechargeable batteries used in mobile phones and other electronic devices.

Also read: Lithium… an economic war to control white gold

According to a report published by the US Geological Survey in 2022, there are 89 million tons of lithium worldwide.

In 2014, Iran opened its first lithium battery factory, which produces batteries used for military and civilian purposes, in an important step towards using new energy sources and a new generation of energy storage devices.

Iran, whose economy has been affected by international sanctions, especially the US, has many natural resources, such as gas, oil, copper and iron.

Australia, Chile, Argentina and China are the main producers of the metal.

Chinese expansion in the field of lithium supply chains threatens the United States of America, as China owns 51% of the largest lithium field in Australia.

The Chinese company, Yibin Tianyi, also signed an agreement with the Australian company, Pilbara Minerals, to buy the Chinese company 40,000 tons of lithium in a relatively low-value deal, worth $15 million in advance.

In 2022, lithium prices will increase dramatically, due to higher component prices and inflation in general, while the demand for clean transportation has increased all over the world.