Despite the Western push to diversify critical minerals supply away from China, Beijing is set to further tighten its grip on the market of key battery metal lithium. China is poised to become the world’s biggest lithium miner by next year, surpassing Australia, commodity price reporting agency Fastmarkets forecasts. China already has an outsized dominant position in the refined lithium market, where it held a 73% market share as of 2024, per data from the International Energy Agency (IEA). Sourcing more of the raw material at home – even at a loss in current market prices and conditions – would give China additional ... (full story)