The material that is gaining more and more value is lithium. The world’s richest people are already thinking of strategies to earn their next billions from it in the near future. What is particularly interesting is that Ukraine has considerable reserves of this “gold”. Will the Ukrainian economy be able to benefit from this?
Fantastic prospects
Lithium is the substance on which most modern batteries work. Only by 2022, 74% of the world’s lithium production have already been absorbed. However, the demand is growing, so it is reflected in the price. Lithium is used in so-called “green energy” technologies: electric cars, storage batteries for renewable energy sources, etc. Tesla alone reports that it will need a third more lithium carbonate in 2030 than is currently produced worldwide.
The European Energy Agency offers a comparison of lithium production last year and that predicted in the future to cover needs:
– 2022 – 130 thousand tons;
– 2050 – 1.3 million tons under the most modest scenario or 2.4 million tons under the optimistic scenario.
Already now, the countries, where this raw material is mined, are planning to develop their economy in this field.
Push the record holders back
The current record holders for lithium reserves are:
– Bolivia — more than 21 million tons;
– Argentina — 20 million tons;
– USA — 12 million tons;
– Chile — 11 million tons;
– Australia — 7.9 million tons;
– China — 6.8 million tons;
– Germany — 3.2 million tons;
– Congo — 3 million tons;
– Canada — 2.9 million tons;
– Mexico — 1.7 million tons.
Before the start of the full-scale invasion, the resource of lithium reserves of Ukraine was estimated at 0.5 million tons. However, currently, four new deposits have been explored in the country, and it is known that the total reserve is 5 million tons (10% of the world’s reserves). That is, Ukraine immediately breaks into the top ten and takes seventh place there.
The location of these new deposits:
– Polokhivske deposit, Kirovohrad region;
– Dobra area, Kirovohrad region;
– Shevchenkivska balka, Zaporizhzhia region;
– Kruta Balka, Donetsk region.
The last two deposits are now occupied by the Russians.
People die for lithium
Moscow also knows about these resources of the Ukrainian land, so they are very interested in ensuring that these areas are not de-occupied.
According to average estimates, after the development of the Polokhivske deposit alone, businessmen will be able to receive about 8 billion dollars in profit per year. So, the income from the four zones will be fantastic.
At the same time, skeptics point out that new startups will soon appear, and the price of lithium may decrease. But economists say that it will take decades before the market completely replaces this type of battery. It’s possible to make sure of this in the example of gasoline and oil: new technologies do not affect the demand for these products.
But whether Ukraine will be able to properly dispose of a valuable natural resource in the post-war period is a question for those in power.
