Chinese companies that need raw materials to make batteries for the world's largest electric vehicle (EV) market are facing resistance in some Latin American countries that hold the keys to the world's reserves of the soft, silvery-white alkali metal.
Analysts say mining companies face environmental, protectionist and sometimes political barriers, with some issues leading to legal challenges and protracted negotiations.
“China is currently the world’s largest lithium producer, and the demand for lithium ore is growing every day,” said Eggie Hu, senior editor of China commodity data analytics service Mysteel Global.
“At the same time, other countries are basically reconsidering their own needs for national industrial development and gradually paying more attention to lithium resources.”