Global lithium production has doubled between 2016 and 2020 to 82,000 tons and is on its way to becoming one of the most demanded elements in the world.
That is because lithium is an essential component of ion batteries that enables the flow of electric current and is an indispensable component for electric cars.
The metal's lightness, long life, and high storage capacity make it a highly sought-after mineral, especially by large electric vehicle manufacturers such as Tesla, Ford, and General Motors.
For this reason, this resource is considered the oil of the future due to its . . .
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