Via Metal Miner Dubbed “white gold,” lithium is immense valuable in the modern world. Though lithium prices dropped dramatically from the highs achieved in late 2022, China still dominates the lithium supply chain. This continues to spur on multiple countries looking to lay their hands on this valuable metal. Lithium is a critical component in rechargeable batteries for electric vehicles and solar/wind power sources.
As India’s sole cathode active materials producer, Altmin gets its lithium carbonate from Brazil and Bolivia. Due to the absence of lithium processing facilities in India, the government continues to offer incentives to encourage private companies to establish these facilities locally. About a year ago, Altmin teamed up with Bolivia’s state-owned Yacimientos de Litio Bolivianos to set up a plant in Bolivia for producing lithium iron phosphate materials.