Lithium Might Hold the Key to our Clean Energy Future, but Will this Star Metal Fully Deliver on its Green Potential?

Abstract

Salinas Grandes is a vast salt flat in the high-altitude Puna region of Salta and Jujuy, two north-western provinces of Argentina. It is situated in one of the world’s driest regions, with an extremely fragile ecosystem. Salinas Grandes is so iconic and beautiful that Argentinians voted it amongst the country’s top seven natural wonders in May 2019.1 In addition to its beauty, this stunning desert of salt also holds one of the largest reserves of lithium in the world. Lithium is a light and versatile metal used to produce, among other things, the lithium-ion batteries that power electric vehicles (EV). As global efforts to phase out fossil fuels from our transport systems and adopt clean energy alternatives increase, lithium is becoming increasingly critical. It is no wonder, therefore, that industry has coined it the ‘white gold’.2 Salinas Grandes is only one of many salt lakes in North West Argentina which, together with Bolivia and Chile, form what is known as the ‘lithium triangle’. It is estimated that these three countries alone account for more than half of the world’s lithium.3 Global demand for lithium to produce EV is expected to grow rapidly over the coming decade. To meet this demand, the lithium industry will require significant investment to ramp up additional supply.4 As a result, all eyes have turned to the ‘lithium triangle’ and investment in the region has soared in recent years.5 For the three developing countries, this represents a unique opportunity to attract much-needed foreign investment and boost economic growth.6