Lithium Stocks
A comprehensive list of Lithium stocks listed on U.S. exchanges and OTC markets

Lithium Stocks by Market Cap

Lithium Market Key Terms

Lithium Carbonate

  • Lithium carbonate is a compound that is a key component in portable electronic devices and EV batteries.
  • Lithium carbonate equivalent (LCE) is the primary metric used in the lithium industry when discussing supply, demand or production volumes.
  • Lithium carbonate is a critical component in lithium-iron phosphate (LFP) batteries popular in China.

Lithium Hydroxide

  • Lithium hydroxide is a compound used in the production of lithium-ion batteries.
  • It is an essential ingredient in the cathode material for high-nickel lithium-ion batteries, which have higher energy density and better performance.
  • Unlike lithium carbonate, lithium hydroxide has a shelf-life of around 12 months, making it more complex from a supply chain management perspective.

Spodumene

    • Spodumene is a pyroxene mineral with high concentrations of lithium, commonly found in pegmatite deposits.
    • Spodumene is the primary source of "Hard Rock" lithium and is the source of lithium for Australia's lithium industry.

Direct Lithium Extraction (DLE)

  • A process that directly extracts lithium from brine resources without the need for traditional evaporation ponds.
  • DLE methods involve selective extraction technologies that target lithium ions, allowing for faster and more efficient lithium recovery from mineral or brine sources.
  • While true DLE is not yet in use at commercial scale, DLE-focused companies have received increasing attention and investment in recent years.

Direct Shipping Ore (DSO)

  • Refers to mineral deposits that are mined and shipped directly to customers without the need for further processing.
  • DSO is often exported in the early stages of mine production, allowing the company to engage customers, test shipping routes, and earn revenue to fund further development.
  • After this phase, most mines will further concentrate the ore and sell the concentrated product instead.

Lepidolite

  • A mineral belonging to the mica group and known for its lithium content.
  • Lepidolite lithium concentrations, around 2%-4% by weight, are typically lower than Spodumene (4% to 7.5%).
  • China's lepidolite production accounts for around 12% of global lithium production on an LCE basis, according to Fast Markets.

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Lithium Investing FAQ

What are the main differences between Lithium Carbonate and Lithium Hydroxide?

Lithium Hydroxide

    • Used in higher-end longer range EV batteries with nickel cathodes, such as nickel-cobalt-manganese (NCM) and nickel-cobalt-aluminum (NCA) batteries.
    • Has around a 1 year shelf life from the time its produced.
    • More difficult than carbonate to store and package – for example you cannot let oxygen in the packaging.

Lithium Carbonate

      • Used in Lithium Iron Phoshpate (LFP) batteries, which have shorter driving ranges but also lower cost.
      • Has no shelf life
Which country is the largest producer of lithium?
  • Australia is the leading producer of mined lithium, with an estimated 47% of global mine production in 2022.
  • Following Australia are Chile (30%), China (14.7%) and Argentina (4.8%).

Source: U.S. Geological Survey 2023 Mineral Commodity Summaries.

What is the largest lithium mine in the world?
  • The Greenbushes mine in Western Australia is the world’s largest Lithium mine.
  • The mine is 51% owned by a Tianqi Lithium and IGO Ltd joint venture, and 49% owned by Albemarle.
  • The mine has an annual production capacity of 1.34mtpa of lithium concentrates.
What could replace lithium in EV batteries?
  • Sodium-ion batteries are being explored as a potential alternative to lithium-ion batteries in electric vehicles.
  • Sodium is an abundant and cost-effective element that could potentially replace lithium in battery chemistries.
  • However, sodium-ion batteries are still in the R&D stage, with limitations such as lower energy density and shorter cycle life compared to lithium-ion batteries.
  • Lithium will be an essential material in EV batteries for the foreseeable future.

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