China Discovers Asia’s Largest Lithium Mine
[The Guru= Reporter Jung Deung-yong] The largest lithium mine in Asia has been discovered in China. The estimated reserves are about 1.1 million tons, and the mining rights belong to a subsidiary of Chengxin Lithium.
According to industry sources on the 23rd, a lithium mine with nearly one million tons of reserves was newly discovered in Murong Yajiang, Southwest China’s Sichuan Province. This is the largest lithium mine discovered in Asia so far, and the ore deposit is known to be the same as the one in the Jiajika lithium ore deposit. Wang Guanghua, Minister of Natural Resources of China, said, “Lithium, which is the lightest metal element with atomic number 3, is the “green energy metal in the 21st century.” Thus, the recent discovery of a large amount of lithium has significant implications for carbon neutrality.”
Wang Guanghua, Minister of Natural Resources of China, said, “Lithium, which is the lightest metal element with atomic number 3, is the “green energy metal in the 21st century.” The recent discovery of a large amount of lithium has significant implications for carbon neutrality.”
The mining rights of the recently discovered lithium mine are owned by a subsidiary of Chengxin Lithium, the fifth-largest lithium producer in China. In December of last year, Chengxin Lithium announced that it would increase the capital of Sichuan Qicheng Mining Co., Ltd., a subsidiary, by 500 million yuan (about $77.6 million). Huirong Mining, managed by Qicheng Mining, holds the exploration rights for the lithium mine.
The South China Morning Post (SCMP) in Hong Kong analyzed, “China’s recent discovery comes as global competition as key resources intensify and China strives to explore domestic resources to strengthen energy and resource security. This will increase China’s lithium supply.”
It further emphasized, “In addition, this discovery follows Thailand’s announcement last week of the discovery of two potential lithium supply sources, aiming to be a major electric vehicle production base in Asia. This will heighten the global competition for resources.”
According to the U.S. Geological Survey, China holds 7% of the world’s discovered lithium. It ranks sixth in the world, following Bolivia, Argentina, the United States, Chile, and Australia. However, China is responsible for more than half of the world’s lithium refining.
By. Jeong Deung Yong