Geostrategic Daily

Benchmark Source (Benchmark Mineral Intelligence) · 4 September 2026

More than $60 billion in capex required to meet 2040 lithium demand, Benchmark analysis finds Operating lithium supply will need to expand by over three million tonnes LCE to meet

Benchmark's Capex Briefing analysis finds that operating lithium supply must expand by over three million tonnes LCE to meet 2040 base demand, requiring approximately $64 billion in capital spending. Operating supply in 2026 is 1.7 million tonnes LCE, and demand is expected to grow at a 7.3% CAGR, driven by EV adoption and battery energy storage. The analysis notes that less conventional projects, such as direct lithium extraction and sedimentary sources, will play a larger role, with their combined share of production doubling to 40% by 2040.

Why it matters: This underscores the theme of critical minerals supply chains, highlighting the scale of investment and technological shifts needed to meet long-term demand.

critical minerals · green tech supply chain · supply chain risk

Record

Source
Benchmark Source (Benchmark Mineral Intelligence) (tier 1)
Published
4 September 2026
Link
https://source.benchmarkminerals.com/article/more-than-60-billion-in-capex-required-to-meet-2040-lithium-demand-benchmark-analysis-finds
Content depth
full
Actors
Benchmark Mineral Intelligence
Edition
2026-09-05

Grounding

Verbatim spans from the source text that support the summary above.

Operating lithium supply will need to expand by over three million tonnes LCE
USD ~$64 billion in capital spending
DLE and sedimentary assets have higher capital requirements than conventional mines, and those sources, together with mica sources, will double their combined share of production to 40% by 2040.