The Iranian Ministry of Industry, Mine and Trade announced that a deposit of about 8.5 million metric tons of lithium ore was discovered in the western province of Hamedan.
This development might bring a major boost for Iran’s economy as it has suffered under US sanctions and embargoes for some years now.
Lithium’s use today has extensively grown, making it essential for most electronics, maily batteries.
As per the US Geological Survey, the largest identified lithium resources in world (not counting Iran) are in Bolivia, Argentina, Chile, Australia, and China.
Recently extensive lithium deposits were discovered in north India
Lithium is now one major element used in electric cars and also in all kinds of electronic devices, from mobile phones to EVs.
Even promising alternatives to the lithium-ion batteries incorporate lithium due to its low weight as and superior electrochemical potential.
Currently, all EVs use lithium in their battery packs and demand set to rise exponentially over the coming decades.
The discovery of lithium ore will open new avenues for Iran’s economy.
But, it will require about four years to tap into the lithium mines discovered in Hamedan for operational use.
Also the deposits In Hamedan stretch across a five-six square kilometer area, making it a time consuming preparation.
More work and time will be required to establish the commercial usability of the reserves, especially in the face of the economic embargoes Iran faces.