USA News Group reports – The global battery industry must invest significantly to meet the soaring demand for lithium, essential for renewable energy transition. A recent analysis by Benchmark indicates that by 2030, an investment of around $514 billion is necessary, escalating to $920 billion by 2035. To bridge the lithium supply gap, attention turns to the Lithium Triangle, spanning Argentina, Bolivia, and Chile, with companies like Lithium South Development Corporation (LIS), Allkem Limited (AKE), Livent Corporation (LTHM), POSCO Holdings Inc. (PKX), and Rio Tinto Group (RIO) spearheading projects in this mineral-rich area.

Lithium South’s Strategic Advances in the Lithium Triangle

Following Benchmark’s analysis, Lithium South Development Corporation has made strides at its Hombre Muerto North Lithium project. Thanks to technological enhancements in lithium brine extraction, efficiency has surged, with the company now recovering around 70% of lithium, a dramatic improvement from the previous 50%. Their environmentally conscious methodology harnesses the abundant solar energy available at high altitudes, diminishing the carbon footprint of lithium mining operations.

Allkem Limited and Livent Corporation Merge to Form Lithium Powerhouse

On the brink of one of the lithium industry’s most significant mergers, Allkem Limited and Livent Corporation have gained the required approvals to combine forces, resulting in a venture valued over $10 billion. Their united efforts will focus on sustainable and responsible lithium production, benefiting local communities and economies.

POSCO and Rio Tinto’s Big Lithium Moves

POSCO Holdings is doubling down on its lithium investment, planning a second plant in 2024, underpinned by a substantial $4 billion commitment to lithium reserves in Argentina. Meanwhile, Rio Tinto is expanding its battery materials business with the $825 million acquisition of the Rincon Lithium Project, envisioning a sustainable and efficient production of high-quality lithium carbonate.

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