COVID-19 puts a dent in LatAm lithium ambitions

The COVID-19 pandemic has put a dent in Latin America’s lithium mining ambitions, with at least five key assets delayed. Suspensions and new pandemic-related health protocols have seen start-up estimates put back by around 3-18 months at development stage projects in Argentina, Mexico and Chile, according to research by BNamericas. The delays have also contributed to an increase in capex at one of the projects.

Lithium market to reach $ 8.24 bn by 2027

The global lithium market size is projected to reach $8.24 billion by the end of 2027. The increasing investments in lithium extraction methods have opened up a flexible application scope. According to a report published by Fortune Business Insights, titled “Lithium Market Size, Share & COVID-19 Impact Analysis, By Product (Carbonate, Hydroxide, Others), By Application (Batteries, Glass & Ceramics, Lubricant, Medical, Polymers, Metallurgy, Others), and Geography Forecast, 2020-2027,” the market was worth $4.09 billion in 2019 and will exhibit a CAGR of 9.2% during the forecast period, 2020-2027.