Lithium Reserves and Resources in Mongolia and their Exploitation

Abstract

In recent years, lithium demand is drastically increasing and it is said to be becoming a new oil due to increasing number of electrical vehicles. This light-weight, highly reactive metal is able to store relatively high electrical energy in its chemical bonds and it is widely used in electrical and electronics industry as a rechargeable battery. Studies show that increasing number of electrical vehicles might set demand of lithium to 1’000’000t by 2025.