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Report Estimates Latin America Lithium Mining Market Will Exceed 12,416,000 Tons by 2033

11-20-2025 11:00 AM CET | Energy & Environment

Press release from: IMARC Group

Latin America Lithium Mining Market

Latin America Lithium Mining Market

Market Overview

The Latin America lithium mining market size reached 6,315,000 tons in 2024 and is projected to grow to 12,416,000 tons by 2033, exhibiting a CAGR of 7.20% during 2025-2033. Growth is driven by increasing demand for lithium in electric vehicle batteries and renewable energy storage systems. Chile and Argentina's robust lithium reserves position Latin America as a major global supplier.

Download a sample copy of the report: https://www.imarcgroup.com/latin-america-lithium-mining-market/requestsample

Study Assumption Years

Base Year: 2024
Historical Years: 2019-2024
Forecast Period: 2025-2033

Latin America Lithium Mining Market Key Takeaways

Current Market Size (2024): 6,315,000 tons
CAGR (2025-2033): 7.20%
Forecast Period: 2025-2033
The market is expanding due to rising lithium demand for electric vehicle batteries, driven notably by markets in Mexico, Brazil, and Argentina.
Brazil and Mexico contribute 70% of Latin America's vehicle market, hosting five EV production plants, with six more planned by 2027.
Significant international investments are supporting lithium mining projects, such as CATL's $1.4 billion investment in Bolivia's lithium reserves in June 2023.
Governments like Chile and Argentina are encouraging foreign investment with incentives and regulatory support to strengthen their role in the global lithium supply chain.
Emphasis on sustainable mining is rising, with companies adopting technologies to reduce environmental impact, especially water consumption which is significant in lithium mining.

Market Growth Factors

This demand for lithium in EV manufacture has produced market opportunities for the Latin America lithium mining industry. The report noted that there is a vehicle market in Latin America of approximately 5 million units a year, with 70% of this in Brazil and Mexico. These countries currently have five EV manufacturing plants. More than a half dozen plants have a plan for 2027. Automakers for EVs need a stable lithium supply to support lithium-ion batteries used to power them. Because energy is renewing and decarbonizing as a global trend, lithium producers expand their operations.

Mining developments and investments from Europe, China and the United States in Latin American lithium sources are driving the growth of the lithium market in the region. For example, Chinese CATL invested $1.4 billion to develop Bolivia's lithium reserves. Bolivia's lithium reserves have lithium resources larger than any other in the world. Another example happened in June 2024 when Argentina announced it will expand lithium supply by launching four more lithium mining projects, increase lithium production at existing projects toward 202,000 mt/yr by 79%, and invest into technology.

Green mining considers concerns for sustainability. Lithium mining throughout Argentina, Bolivia, and Chile uses up 21 million liters or 5.5 million gallons of water each day. This threatens wetlands and causes drought. It also causes land degradation and decreased agricultural output. Because of that, countries regulate the environment more strictly, and producers use technologies for reductions in carbon and water usage when they attempt to balance resource extraction with responsibility given pressure from environmental advocates and a global investor base.

Request Customization: https://www.imarcgroup.com/request?type=report&id=29737&flag=E

Market Segmentation

Source Insights:

Brine: Extracted from salt flats and underground reservoirs, this source is vital due to abundant lithium reserves in Latin America, especially in Bolivia and Chile.
Hard Rock: Lithium extracted from spodumene and other mineral-rich ores prevalent in the region's mines.

Type Insights:

Chloride: Lithium processed as lithium chloride for specific industrial applications in battery production.
Hydroxide: Lithium in hydroxide form, crucial for high-performance lithium-ion batteries.
Carbonate: Lithium carbonate is a primary lithium compound extensively used in battery and chemical industries.
Concentrate: Raw lithium concentrate extracted directly from mining operations before further refining.

Country Insights:

Brazil: A key market with substantial lithium mining and EV market presence.
Mexico: Dominant in EV production with significant lithium demand.
Argentina: Hosts large lithium reserves with multiple new mining projects underway.
Colombia: Growing participation in lithium extraction.
Chile: Holds some of the largest lithium salt flats with government-supported supply expansions.
Peru: Emerging lithium mining activities.
Others: Encompasses other Latin American countries involved in lithium mining.

Regional Insights

Chile and Argentina dominate the Latin America lithium mining market owing to their robust lithium reserves and supportive government policies. Argentina plans to increase its lithium production capacity by 79%, adding 202,000 metric tons annually through new projects inaugurated from 2024. Chile's government, alongside major companies, is focused on expanding lithium output, reinforcing the region's importance as a major global supplier. These countries shape Latin America's strategic position in the global lithium supply chain.

Recent Developments & News

In October 2024, Rio Tinto announced the acquisition of Arcadium Lithium in an all-cash deal worth $6.7 billion, enhancing its position among the world's top lithium producers. The acquisition includes key lithium mining assets in Argentina, a pivotal Latin American market.
In May 2024, Chilean copper mining firm Codelco and SQM, the world's second-largest lithium producer, entered a definitive agreement to jointly develop Chile's lithium deposits in the Salar de Atacama. This deal grants Codelco a majority stake, aiming to increase government-controlled lithium production in Chile.

Speak to an Analyst: https://www.imarcgroup.com/request?type=report&id=29737&flag=C

Key Players

Rio Tinto
Arcadium Lithium
Codelco
SQM
CATL
Eramet SA
Tsingshan Holding Group Co.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

Contact Us

IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA,
Email: sales@imarcgroup.com,
Tel No: (D) +91 120 433 0800,
United States: +1-201971-6302

About Us

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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