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Lithium mining in Chile

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Lithium mining in Chile is the second largest in the world in terms of extraction after it was surpassed by Australia in 2012. Chile, like Argentina and Bolivia, is located within the Lithium Triangle, an area of South America that houses the largest known reserves of lithium on the planet. Likewise, Chilean mining leads the world in the extraction of lithium through an evaporation process from brines with high concentrations of this mineral, unlike Australian mining, which extracts it mainly from hard rocks. Estimates show that Chile is expected to be surpassed also by Argentina and China in lithium production by 2030. Industry analyst Gustavo Lagos suggests that lithium production in Chile will by 2030 represent be about 8% of the world's total production. Chile has the world's cheapest production costs for lithium and this could be an advantage for mining in Chile once recycled lithium enters the market competing with costly mining operations in the future.