CHART: Australia is poised to be the world's biggest supplier of lithium

Vince Bucci/Getty

Australia is positioned to be a key supplier in the global lithium supply, Deutsche Bank says.

The bank’s research analysts have mapped out a forecast for the sources of the world’s supply of the mineral — a key ingredient in new battery technology for electric cars and innovative new storage technologies — over the coming years. Here’s the chart:

Deutsche Bank

The bank notes that Australian hard rock projects at Mt. Marion, Mt. Cattlin and Pilgangoora can enter the market over the next three years, while the Greenbushes operation in Western Australia exceeded analyst estimates with its output up 22% year on year.

All this extra Australian supply should help easily meet global demand levels, according to the bank.

The Deutsche team predicts lithium demand to increase by 24% in 2017 to 263kt LCE (lithium carbonate equivalent). Demand will be driven by a 55% increase in sales of electric vehicles to 1.4 million vehicles.

This next chart shows the forecast supply levels against demand.

Deutsche Bank

NOW READ: The facts and fiction of Australia’s lithium boom >>

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