Which Country Dominates Global Lithium Reserves? A Deep Dive into the Top Four

The question of which country has the most lithium reserves is critical to understanding the future of clean energy and battery technology. As global demand for lithium-ion batteries accelerates — driven by electric vehicle adoption and energy storage systems — knowing where the world’s lithium supply is concentrated becomes essential for investors and industry stakeholders.

Global Lithium Reserve Overview

Worldwide lithium reserves currently stand at 30 million metric tons as of 2024, according to the US Geological Survey. However, the distribution of these reserves is highly concentrated. Just four nations control more than half of this supply, fundamentally shaping the lithium market’s future trajectory.

1. Chile: The Lithium Reserve Champion

Reserve volume: 9.3 million metric tons

Chile remains the world’s lithium reserves leader, holding nearly a third of global supply. The Salar de Atacama region alone accounts for roughly 33% of the planet’s total lithium reserve base. Interestingly, while Chile possesses the largest stockpile, it ranked as the second-largest producer in 2024, generating 44,000 MT of output.

This discrepancy highlights a crucial insight: having reserves doesn’t automatically translate to market dominance. SQM and Albemarle operate the country’s primary lithium extraction operations in Salar de Atacama. In 2023, the Chilean government announced partial nationalization plans, with state-owned Codelco negotiating for controlling stakes in both companies’ lithium assets. By early 2025, the government had received seven bids for lithium operation contracts across six salt flats, with winners expected to be announced in March 2025. Eramet, Quiborax, and Codelco formed a consortium to bid on these lucrative contracts.

Chile’s strict mining concession framework, while protective, has limited its ability to capture greater market share despite possessing enormous mineral wealth.

2. Australia: Reserve Runner-Up with Production Supremacy

Reserve volume: 7 million metric tons

Australia holds the second-largest lithium reserves globally at 7 million metric tons, yet it paradoxically achieved the highest production volume in 2024. The distinction stems from deposit type: Australian reserves exist as hard-rock spodumene deposits, primarily concentrated in Western Australia, requiring different extraction methods than Chile’s brine-based systems.

The Greenbushes lithium mine, operated by a joint venture involving Talison Lithium, Tianqi Lithium, IGO, and Albemarle, has been a cornerstone of Australia’s output since 1985. Recent price pressures have forced several Australian lithium companies to reduce or suspend operations pending market recovery.

Emerging research suggests significant untapped potential in Queensland, New South Wales, and Victoria. A 2023 University of Sydney study, conducted in partnership with Geoscience Australia, mapped lithium-dense regions across the country, identifying areas for future extraction that extend beyond Western Australia’s traditional dominance.

3. Argentina: The Third Pillar of the Lithium Triangle

Reserve volume: 4 million metric tons

Argentina completes the top-three reserves ranking with 4 million metric tons. Together with Chile and Bolivia, Argentina forms the “Lithium Triangle,” which collectively harbors over 50% of planetary lithium reserves. As the world’s fourth-largest producer, Argentina generated 18,000 MT in 2024.

The Argentine government demonstrated strategic commitment by pledging US$4.2 billion in investment toward lithium development in 2022. More recently, it approved Argosy Minerals’ expansion at Rincon salar, targeting a capacity increase from 2,000 MT to 12,000 MT annually. Approximately 50 advanced lithium mining projects operate throughout the country, with operations maintaining cost competitiveness even in depressed pricing environments.

A major development surfaced in late 2024: Rio Tinto announced plans to invest US$2.5 billion in expanding lithium extraction at its Rincon salar operations, scaling capacity from 3,000 MT to 60,000 MT over a three-year ramp beginning in 2028.

4. China: The Processing Powerhouse

Reserve volume: 3 million metric tons

China rounds out the top-four reserves holders with 3 million metric tons. Unlike Chile and Argentina’s brine deposits, China’s lithium supply comprises a diverse mix: brines form the bulk, supplemented by hard-rock spodumene and lepidolite reserves.

Production rose to 41,000 MT in 2024, up 5,300 MT year-over-year. However, China still imports substantial lithium quantities from Australia to meet domestic battery cell demand. The country’s true strength lies not in extraction but in processing and manufacturing: China operates the majority of the world’s lithium-processing facilities and manufactures most global lithium-ion batteries.

In October 2024, the US State Department accused China of employing predatory pricing strategies to eliminate non-Chinese competitors. More significantly, early 2025 reports indicated China has substantially expanded its lithium ore reserves, claiming national deposits now represent 16.5% of global resources — up from 6%. This surge reflects discoveries including a 2,800-kilometer lithium belt in western regions, with proven reserves exceeding 6.5 million tons of lithium ore and potential resources surpassing 30 million tons. Enhanced extraction technologies from salt lakes and mica have further bolstered the nation’s reserve position.

Additional Global Lithium Reserves

Beyond the primary four, other nations maintain notable lithium stockpiles:

• United States: 1,800,000 MT
• Canada: 1,200,000 MT
• Zimbabwe: 480,000 MT
• Brazil: 390,000 MT
• Portugal: 60,000 MT (Europe’s largest)

The Lithium Market Outlook

As the battery metal industry expands, production capacity and reserve availability increasingly determine competitive positioning. Demand forecasts project EV and energy storage system lithium requirements will both surge over 30% annually in 2025, according to Benchmark Mineral Intelligence. The four nations controlling the largest reserves — with Chile holding the most lithium capacity — will likely shape industry dynamics for decades to come, particularly as emerging producers develop operations and technological improvements unlock previously inaccessible deposits.