How much lithium does Iran have?

With global lithium reserves estimated at 89 million tons, Iran may now possess almost one tenth of the world’s lithium supply. Lithium prices have skyrocketed in recent years, thanks partly to increased demand for electric vehicle batteries containing the element.

Can India use Iran's lithium reserves to develop a grid-scale battery system?

As India strives to transition to renewable energy sources and reduce its carbon footprint, access to lithium reserves from Iran could facilitate the development and deployment of energy storage solutions, such as grid-scale batteries and off-grid systems.

What can Iran do with the lithium discovery in Iran?

The lithium discovery in Iran is expected to redirect focus toward mining activities in the Middle East. Iran can leverage this discovery to persuade Western nations, such as the USA and the EU countries, to lift sanctions imposed for its nuclear program, support for terrorism, and human rights violations.

Can Iran reach a cost-effective method of production from lithium?

Molabeigi expressed hope that Iran could reach a cost-effective method of production from the newly-discovered lithium deposit as he insisted that demand for the metal is rising in the global markets. Iran has introduced measures to expand its mining and metals sector in recent years as part of plans to diversify its economy away from oil revenues.

How will Iran's lithium deposits impact global competition?

The announcement of lithium deposits in Iran is likely to impact the global competition for lithium resources significantly. It holds the power to disrupt the existing power dynamics in the global lithium race, as it is estimated to be the second-largest lithium reserve in the world after Chile.

Is there a lithium shortage?

There are already signs of lithium shortage as demand for lithium increases globally. The lithium reserve found in Iran holds the potential to reverse the lithium supply shortage into surplus in the coming years. The lithium discovery in Iran is expected to redirect focus toward mining activities in the Middle East.