(Yicai) Dec. 8 -- New deposits of lithium and manganese have been discovered in Jiangxi, a province in the southeast of China well known for its reserves of key minerals used in the nonferrous metal and new energy industries.

Jiangxi spent CNY1.4 billion (USD196.6 million) on the latest prospecting work, surveying 120 mineral resources across the province, China Natural Resources News reported on Dec. 6. It carried out dynamic assessments on the potential of 10 strategic mineral resources, including iron, copper, tungsten, tin, and rare earths. 

Jiangxi added 858 tons of lithium ore, 1,013 tons of manganese ore, 7.29 tons of gold ore, and 270.91 tons of calcium fluoride to its reserves between 2021 and the first half of this year, the report said, providing a guarantee of resources for the construction of key supply chains for the nonferrous metal, new energy, and petrochemical sectors.

The demand for lithium used in new energy vehicles and energy storage continues to grow, Zhang Jiangfeng, deputy head of China Nonferrous Metals Industry Association's lithium branch, said at a recent industry forum.

By 2025, global lithium production and consumption will likely increase by about 30 percent a year, Zhang noted. He recommends boosting the exploration and evaluation of domestic lithium resources, expanding the outlook for lithium reserves, improving lithium extraction technology, and reducing production costs.

Half of the world’s lithium output is centered in Western Australia, and it exports 98 percent of its lithium to China, John Prineas, executive chair of Perth-based St George Mining, noted at the forum. China has 60 percent of the world’s lithium salt, 65 percent of its lithium-ion battery materials, and 77 percent of its battery capacity, he added. 

Jiangxi accounted for 40 percent of China's lithium reserves last year, ranking first in the country.

Editor: Martin Kadiev