World's largest lithium mines to be in Australia following increased demand

Two of the largest lithium mines in the world are set to be built in Australia, following  increasing sales of electric vehicles and mobile phones in China and demand for Lithium for the batteries to power them.

Pilbara Minerals, which is developing the Pilgangoora Project in Western Australia, has recently signed an offtake agreement with Chinese firm General Lithium and plans to start mining next year.

Pilbara chief executive Ken Brinsden, said: "It's going to take a big project like ours to make a dent in the demand side. This whole scene will become really important for Australia. There's every chance that by the time we get up they will be the two largest lithium mines in the world.”

The US/Chinese-owned Greenbushes lithium mine in south Western Australia has now been declared to be the world's biggest lithium mine.

As many as five million new energy vehicles could be built in China by 2020; US electric car maker Tesla has received almost half a million orders for its Series 3 vehicle, released next year.

Another West Australian lithium developer Neometals stated that Lithium had tripled in price in the past year as batteries increase in size.

In response to this, the company is looking to commercialise its resources at Mount Marion. Mining colossus Rio Tinto has indicated that it was undertaking a pre-feasibility study on the Jadar lithium deposit in Serbia.

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