Lithium, often referred to as “white gold,” is a vital component in rechargeable batteries that power a range of devices, from smartphones to electric vehicles. The lithium mining market is primarily fueled by the expanding EV market and the increasing adoption of renewable energy solutions. According to BCC Research reports, the global market for lithium mining is expected to grow from $5.7 billion in 2023 and is projected to reach $9.1 billion by the end of 2028 at a compound annual growth rate (CAGR) of 10.0% from 2023 to 2028.
