7 Most Profitable Lithium Miners of 2023: The Must-Know Stocks

The future of energy is here and it's bright. Recently, some of the largest multinational corporations have been turning to lithium mining to power their operations. With its renewable properties, this natural resource is being sourced from previously untapped locations in order to fulfill the increasing demand for high-powered batteries and other products. According to recent reports, the demand for lithium is projected to double by 2023. For this reason, numerous companies have invested heavily in lithium mining projects all over the world. The value of the global lithium market was estimated at USD 8.4 billion in 2019, and is anticipated to reach USD 17.7 billion by 2023. To keep up with these ambitious projections, seven of the biggest lithium-mining companies have emerged and have achieved major success. Here, we take a look at these companies and their impressive operating accomplishments so far. i. Albemarle Corporation Albemarle Corporation is the world’s largest lithium producer and has operations in locations all over the United States, Australia, and Chile. The company’s products are used in the production of electric vehicles, consumer electronics, and in numerous industrial applications. The company announced it had reached the 85,000 tons production milestone in December 2019 and continues to be an industry leader in lithium mining and production. ii. Ganfeng Lithium Co. Headquartered in Jiangxi, China, Ganfeng Lithium Co. is one of the biggest and oldest names in lithium production. It is focused on the production of downstream battery-grade products, and recently reported its Q3-2020 results of 28,700 tons of lithium concentrate. Ganfeng is also engaged in the production of cobalt and nickel cathode materials. iii. Orocobre Orocobre is an Australian-based company engaged in the production of industrial minerals and has a portfolio of six lithium-mining projects in Argentina, Chile, and Bolivia. Orocobre is one of the leading lithium producers in the world and reported an impressive 88,000 tons of production in 2020. iv. SQM SQM is a multinational corporation with operations in Chile, Argentina, and the United States. The company specializes in the production of lithium, potassium, and derivatives and recently reported record-breaking production of 91,000 tons of lithium carbonate equivalent for 2020. v. Neptune and Advantage Lithium Neptune and Advantage Lithium are two of the largest lithium companies in Canada. Both companies operate mining projects throughout the country and reported a combined output of more than 1,800 tons of lithium carbonate in 2020. vi. Neo Lithium Corp. Headquartered in Vancouver, Canada, Neo Lithium Corp. is focused on the exploration and development of its Tres Quebradas lithium project in Argentina. The company recently announced that it had achieved record-breaking production of more than 1,500 tons of lithium carbonate during the first quarter of 2021. vii. Lithium Americas Lithium Americas is a lithium producer with operations in the United States and Argentina. The company recently announced that it had achieved quarterly revenue of more than $12 million for the fourth quarter of 2020. Additionally, the company has lined up strategic partnerships with leading global automakers to support the manufacturing of electric vehicles. These seven companies have been major contributors to the global lithium market and are expected to keep powering the industry forward. With their ambitious goals and their commitment to sustainability, they will be at the forefront of the world’s energy revolution for years to come.