China discovers 490M tons of lithium ore in central province

ISTANBUL

China announced Tuesday the discovery of new lithium ore deposits totaling 490 million tons in central Hunan Province.

The deposit has been classified as an altered granite-type lithium reserve and is estimated to contain around 1.31 million tons of lithium oxide, along with other minerals including rubidium, tungsten, and tin, according to the state-run Xinhua News Agency.

The deposit is located in the Jijiaoshan mining area in Linwu County, reported the outlet, citing the provincial department of natural resources.

Lithium is a key component for smartphone batteries and other rechargeable batteries for electronics, electric vehicles, and grid storage.

China's lithium reserves were reported to have risen to 16.5% of the total global amount in January, according to the China Geological Survey under the Natural Resources Ministry, placing the country second globally after Australia.