Lithium industry needs the equivalent of 134 new mines by 2050 to meet growing demand Between now and 2050, the lithium industry will need the equivalent of 134 new lithium mines t
Benchmark Mineral Intelligence forecasts global lithium demand will reach about 7 million tonnes of lithium carbonate equivalent in 2050, up from 2.11 million tonnes in 2026, with 76% of 2050 demand driven by electric vehicles. At an average mine size of 36,000 tonnes LCE, the forecast growth is equivalent to the output of 134 new mines, or a new mine every two months for the next 24 years, with 44 of those mines needed to meet demand growth between 2040 and 2050. Benchmark estimates meeting 2050 demand requires more than US$100 billion of investment before any contribution from recycling.
Why it matters: The forecast underscores the scale of critical minerals supply expansion required, with investment needing to be sustained through price cycles while competing with AI, defence and the wider energy transition.