Largest Lithium Mining Companies: Output, Owners and Mergers

Overview of Lithium Mining and Its Critical Role

The largest lithium mining companies supply the lithium that batteries need. In 2025, lithium is a metal at the centre of the rechargeable battery, which is why it matters for battery production, electric vehicles (EVs), renewable energy storage, and portable electronics. As global industries race toward carbon neutrality, the demand for lithium has grown. USGS estimates that world consumption was 263,000 tonnes in 2025, up 20% from 220,000 tonnes in 2024.

Lithium’s importance is rooted in its unique electrochemical properties, making it central to modern rechargeable battery technologies. The electrification of transportation, expansion of clean energy infrastructure, and grid-scale energy storage are all propelled by innovations in lithium-ion battery chemistry. As a consequence, lithium mining is no longer a peripheral activity—it has become a foundational element shaping the future of our global economy.

Lithium companies are hard to compare because they work different rocks and report in different units. Brine operators sell lithium carbonate or hydroxide. Hard-rock miners sell spodumene concentrate. This guide uses each company’s own filings, with dates, and the USGS country figures. The USGS 2026 edition gives this background:

• Reserves: world lithium reserves are about 37 million tonnes of lithium content. Chile (9.2 million) and Australia (8.4 million) hold the most (USGS, Mineral Commodity Summaries 2026).
• Resources: measured and indicated resources are about 150 million tonnes. Argentina (28 million), Bolivia (23 million) and Chile (13 million) hold about 64 million of them.
• Operations: USGS says the majority of world output came from four brine operations in Argentina, seven mineral operations in Australia, two brine operations in Chile, nine mineral and six brine operations in China, five mineral operations in Zimbabwe, two in Mali, two in Canada and one in Brazil.

Water, Land and Recycling Questions

Lithium mining has costs for water and land. Brine operators pump salty water from under salt flats in dry regions. Hard-rock miners dig pits and process ore. Direct lithium extraction (DLE) is a newer way to take lithium from brine, and it is often said to save water. The evidence is mixed.

A peer-reviewed study in the journal Heliyon used company environmental impact reports for the 2021 production cycle at two salt flats in Argentina. It found a total water footprint of 51.0 cubic metres per tonne of battery-grade lithium carbonate at Olaroz, which uses conventional evaporation. It found 135.5 cubic metres per tonne at Fénix, which uses DLE (Díaz Paz and co-authors, Heliyon, 2025). The authors say fresh water supply looks like a bigger limit for DLE than for evaporation, and that local impact depends on how much water the region has. Two sites and one year do not settle the question. Read the figures as a caution against easy claims, not as a verdict on every plant.

Recycling is growing. USGS reports that construction of lithium battery recycling plants continued through 2025, and that car makers and battery recyclers partnered to supply the car industry with battery materials (USGS, Mineral Commodity Summaries 2026). The chapter gives no recycled-lithium volume, so we give none.

Companies publish their own sustainability reports on land, water and community work. We have not rated them here, and a company’s own statement is not independent evidence.

Comparative Table: Reported Output of the Largest Lithium Miners

The largest producers are best compared on the volumes they report themselves, set out below.

We do not rank these companies. Each reports something different: lithium sold, concentrate produced, or money earned. The table gives the period and unit for each figure. Where a company filing could not be opened, we say so.

SC6 means spodumene concentrate at 6% lithium oxide. LCE means lithium carbonate equivalent. A dmt is a dry metric tonne. A tonne of concentrate holds far less lithium than a tonne of carbonate, so the rows cannot be added together or ranked against each other. They also cannot be compared with the USGS country figures, which count lithium content.

• Sources for the table: SQM (SQM 4Q2025 results); IGO for Greenbushes (IGO quarterly report, June 2026); Tianqi (Tianqi Annual Report 2025); PLS (PLS quarterly report, June 2026); MinRes (MinRes Q4 FY26 report); Rio Tinto (Rio Tinto 6-K, first half 2026); Cauchari-Olaroz (Lithium Argentina 20-F); Albemarle (Albemarle 2025 results).
• Not in the table: Ganfeng, Yahua and BYD. We could not open a company filing with their 2025 volumes, so we give no figure.

Company Profiles: Who Owns and Runs the Big Mines

Albemarle Corporation (United States)

Albemarle reports three segments: Energy Storage, Specialties and Ketjen. It had about 7,800 employees at 31 December 2025 (Albemarle 10-K). Energy Storage net sales were $2,710.0 million in 2025, down about 10% from $3,015.1 million in 2024 (our calculation from the release). Total company net sales were $5,142.7 million, against $5,377.5 million. In the fourth quarter of 2025, Energy Storage volume rose 17% and pricing rose 6% against a year earlier (Albemarle results).

For 2026 Albemarle gives three price cases, not one forecast. Energy Storage net sales would be $2.5 to 2.6 billion at about $10 per kg LCE, $4.0 to 4.2 billion at about $20, and $5.9 to 6.1 billion at about $30. The release gives no tonnes of lithium sold.

Albemarle holds 49% of Windfield Holdings, which owns 100% of Talison Lithium and so the Greenbushes mine. It owns 50% of Wodgina with Mineral Resources, which operates the mine (Albemarle 10-K; Albemarle mining interests). It makes lithium in solar evaporation ponds at the Salar de Atacama in Chile and at Silver Peak in Nevada. It also holds mineral rights at Kings Mountain in North Carolina. In October 2023 it bought the remaining 40% of the Kemerton hydroxide plant in Australia. Its 2025 release says construction of Kemerton Trains 3 and 4 stopped and Train 2 went into care and maintenance after 2024 restructuring.

Sociedad Química y Minera de Chile (SQM)

SQM reported 233.1 thousand tonnes of lithium sales volume for 2025 on its Nova Andino Litio line, against 204.9 thousand tonnes in 2024. Lithium and derivatives revenue was $2,288.2 million, against $2,241.3 million. Its International Lithium Division, which includes Mt Holland in Australia, sold 156.4 thousand tonnes of spodumene concentrate and 1.6 thousand tonnes of hydroxide (LCE) in 2025. For 2026 SQM says it expects Nova Andino Litio volumes to grow by more than 10% (SQM 4Q2025 results).

On 27 December 2025 SQM and Codelco announced Nova Andino Litio, which holds the assets, permits and teams for lithium in the Salar de Atacama. The venture has majority state participation and a board with three seats for each partner. The arrangement runs to a projected 2060, with new contracts with the state agency Corfo from 2031. SQM also moved its Maricunga concessions to Codelco (NovaAndino Litio). Tianqi reports that it holds about 22% of SQM.

Tianqi Lithium Corporation (China)

Tianqi is listed in Hong Kong. Its 2025 annual report shows revenue of RMB 10.32 billion, down 20.78% from RMB 13.03 billion in 2024. Profit attributable to shareholders was RMB 458.4 million, against a loss of RMB 8.73 billion in 2024. Tianqi credits the return to profit to better investment income from SQM, in which it held 22.10% at 31 December 2025, and to lower impairment losses (Tianqi Annual Report 2025).

The report calls Talison, owner of Greenbushes, a controlled subsidiary. It says Talison produced 1.35 million tonnes of lithium concentrate in 2025 from five plants with a combined nameplate capacity of about 2.14 million tonnes a year. The third chemical-grade plant made its first compliant concentrate on 30 January 2026. Tianqi quotes Wood Mackenzie data that Greenbushes was the largest hard-rock lithium project by 2025 output, with 9.3% of output from all lithium projects. That is the company’s claim from a third-party dataset, and we did not check it. IGO reported a fire at the third plant in June 2026 that stopped output there for about seven weeks (IGO quarterly report, June 2026).

On chemicals, Tianqi reports more than 120,000 tonnes a year of lithium chemical capacity, including a 30,000 tonne a year hydroxide plant at Zhangjiagang that was ramping up. IGO describes Tianqi Lithium Energy Australia as owned 51% by Tianqi and 49% by IGO, and says Windfield is owned 51% by that venture and 49% by Albemarle. For the processing side, see our guide to lithium refining.

Rio Tinto, Arcadium, Livent and Allkem

Livent no longer trades alone. Livent and Allkem completed an all-stock merger on 4 January 2024 to form Arcadium Lithium plc, listed on the NYSE and, as CDIs, on the ASX (Arcadium 8-K). Rio Tinto completed its purchase of Arcadium on 6 March 2025 at US$5.85 a share, a total equity value of US$6.7 billion. Arcadium shares were delisted, and the company was to be renamed Rio Tinto Lithium (Rio Tinto announcement). Allkem is therefore part of Rio Tinto too.

Rio Tinto’s first-half 2026 report shows lithium output of 27.3 thousand tonnes LCE (Rio Tinto share), up 53% from 17.8 thousand tonnes. The earlier figure covers only the time since the March 2025 purchase. Lithium revenue was $568 million, up 84%, and underlying EBITDA was $218 million, up 419%. The average realised price was $18,960 per tonne LCE, up 22% from $15,580. Rio Tinto says the spot index rose from $14,500 to $19,400 per tonne over the half. Free cash flow was negative $551 million, with capital investment of $627 million (Rio Tinto share) (Rio Tinto 6-K).

The report names these projects. Rincon in Salta, Argentina, is planned at 60 thousand tonnes a year with first production in 2028. Fénix 1B (10 thousand tonnes a year) and Sal de Vida (15 thousand tonnes a year), both in Catamarca, had first production in the second quarter of 2026, ahead of plan. At Nemaska in Quebec, where Rio Tinto holds 53.9%, capacity is 28 thousand tonnes a year (100% basis) and first production is planned for 2028. Construction there slowed in 2026 after a review, and a decision on the Whabouchi or Galaxy mine moved to the second half of 2026. Rio Tinto also reports binding agreements for joint ventures with Codelco (Salar de Maricunga) and ENAMI (Salares Altoandinos), expected to close in late 2026 or early 2027. See also our report on the Nemaska Lithium mine.

PLS Group (Australia)

PLS Group, formerly Pilbara Minerals, runs the Pilgangoora operation in Western Australia. In the year to 30 June 2026 it produced 879.5 thousand tonnes of spodumene concentrate, up 17% from 754.6 thousand tonnes, and sold 891.6 thousand tonnes. Its estimated realised price averaged US$1,488 a tonne, against US$672. Unit operating cost (FOB) was A$569 a tonne. PLS restarted its Ngungaju plant on 1 July 2026 and guides FY27 production to 1,030 to 1,100 thousand tonnes. A study on a larger P2000 expansion, to about 2.0 million tonnes a year, is due in the December quarter of 2026, and PLS approved about A$175 million of spending ahead of a final decision (PLS quarterly report, June 2026).

Mineral Resources (Australia)

Mineral Resources (MinRes) reported record lithium sales for the year to June 2026: 317 thousand dmt SC6 from Wodgina and 242 thousand dmt SC6 from Mt Marion, 559 thousand dmt SC6 in all. Its quarterly report says Bald Hill restarted in May 2026 after pit dewatering, made first concentrate in June, and is on track to reach 140 thousand dmt SC6 a year in the second quarter of FY27 (MinRes Q4 FY26 report). The text we read does not say whether the Wodgina figure is a 100% or an attributable share, so we show it as reported.

Ganfeng Lithium (China)

Ganfeng co-owns Cauchari-Olaroz in Jujuy, Argentina, with 46.7%. Lithium Argentina holds 44.8% and the provincial company JEMSE holds 8.5% under an option agreement. The operating company is Minera Exar. Lithium Argentina says the mine ran at an average of about 85% of its 40,000 tonne a year nameplate capacity in 2025, and that an expansion of 45,000 tonnes a year LCE is being considered (Lithium Argentina 20-F). We could not open Ganfeng’s own 2025 annual report for this update, so we give no Ganfeng output or revenue figure.

Where New Supply Is Coming From

USGS says some producers cut output or put expansions on hold in 2025 because prices were low. Even so, capacity expansions went ahead in Argentina, Brazil, Canada, Chile, China, Mali, the United States and Zimbabwe. USGS also reports that fear of oversupply kept prices low in the first half of 2025, and that EV sales growth in China and Europe and demand for grid batteries lifted prices in the second half (USGS, Mineral Commodity Summaries 2026).

Company reports for 2026 show the same turn. PLS restarted its Ngungaju plant on 1 July 2026. MinRes restarted Bald Hill in May 2026. Rio Tinto reported first production at Fénix 1B and Sal de Vida in the second quarter of 2026. IGO said the third chemical-grade plant at Greenbushes was ahead of plan until the June 2026 fire. Each item is a dated company statement, not a forecast we endorse.

Results depend heavily on price. Albemarle’s three 2026 cases span Energy Storage net sales from about $2.5 billion to about $6.1 billion, with sales volumes expected to be roughly flat. DLE is already in commercial use at Fénix, according to the Heliyon study. That study also shows why a new method needs a water test at each site.

Regional Picture: Argentina, Chile, Australia, China and Beyond

South America. Chile produced an estimated 56,000 tonnes of lithium in 2025, up from 48,900 tonnes, and Argentina 23,000 tonnes, up from 13,800 tonnes. Chile holds 9.2 million tonnes of reserves and Argentina 4.4 million. Bolivia has no production figure in the USGS table, but USGS lists 23 million tonnes of resources there (USGS, Mineral Commodity Summaries 2026). The companies in this region in this guide are SQM and Codelco, Albemarle, Rio Tinto, and Ganfeng with Lithium Argentina.

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Lithium reserves by country

Millions of tonnes of lithium content, USGS 2026.

Australia. Output was an estimated 92,000 tonnes in 2025, up from 82,700 tonnes, from seven mineral operations. USGS gives reserves of 8.4 million tonnes and notes that JORC-compliant or equivalent reserves were 5.1 million tonnes. Greenbushes, Pilgangoora, Wodgina, Mt Marion and Bald Hill are the operations covered above.

China. Output was an estimated 62,000 tonnes in 2025, up from 41,400 tonnes, from nine mineral and six brine operations. Reserves are 4.6 million tonnes. Chinese firms also hold assets abroad: Tianqi reports about 22% of SQM and control of Talison, and Ganfeng holds 46.7% of Cauchari-Olaroz.

Africa. Zimbabwe produced an estimated 28,000 tonnes from five mineral operations, up from 20,000 tonnes. Mali produced 9,400 tonnes, up from 770 tonnes, after two new operations started in 2024. USGS says Namibia was temporarily removed from mine production because of legal uncertainties.

United States and Canada. USGS withholds US production but gives reserves of 4.4 million tonnes. Canada produced an estimated 5,600 tonnes from two mineral operations and has reserves of 1.6 million tonnes. Rio Tinto’s Nemaska project is covered above, and Elevra and Lithium Americas are covered in the section on American lithium companies.

Europe. Portugal produced 380 tonnes in 2025. USGS lists resources of 8.9 million tonnes in Germany, 1.3 million in Czechia and 1.2 million in Serbia. These are resources, not reserves, and USGS gives no company names for them.

Where lithium is mined: output by country

USGS estimates world lithium mine production outside the US at about 290,000 tonnes of lithium content in 2025, up 31% from 222,000 tonnes in 2024 (USGS Mineral Commodity Summaries 2026). US output is withheld to protect company data.

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Lithium mine production by country, 2025

Tonnes of lithium content, USGS estimate. US output is withheld.

Figures are tonnes of lithium content, as USGS reports them. Company volumes are usually reported as lithium carbonate equivalent (LCE) or spodumene concentrate, which are much heavier, so the two sets of numbers cannot be compared directly.

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Output changed sharply between 2024 and 2025

Tonnes of lithium content, USGS 2024 and 2025 (estimate).

Demand, Prices and What Drives Company Results

USGS estimates that batteries made up 88% of global lithium end uses in 2025. Ceramics and glass took 4%, lubricating greases 2%, and air treatment, casting powders and medical uses 1% each (USGS, Mineral Commodity Summaries 2026). USGS links the growth in battery use to electric vehicles, grid storage, portable electronics and electric tools.

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Battery-grade lithium carbonate price, 2021 to 2025

US dollars per tonne, annual average in real terms.

Prices fell and then rose. The USGS annual average price for battery-grade lithium carbonate, in real dollars per tonne, was $11,700 in 2021, $63,700 in 2022, $39,000 in 2023, $11,800 in 2024 and $9,000 in 2025 (estimate). USGS also says China spot carbonate (c.i.f.) moved from about $9,300 a tonne in January 2025 to about $10,300 in November, and Australian spodumene (6% lithium oxide, f.o.b.) from about $800 to about $970.

Company reports for 2026 show higher prices. PLS estimated a realised price of US$2,107 a tonne for spodumene concentrate (about SC5.2, CIF China) in the June 2026 quarter, or US$2,415 on an SC6 basis. IGO reported US$2,286 a tonne for Greenbushes in that quarter, and US$1,443 for the year, against US$783 a year earlier. Rio Tinto reported an average of $18,960 per tonne LCE for the first half of 2026. These are company averages on different bases, not one market price.

Offtake deals tie miners to buyers. The one we could confirm is General Motors, which holds 38% of the Thacker Pass joint venture (see the section on American lithium companies). We could not confirm the other automaker agreements named in the original text, so they are removed.

Where Satellite Screening Fits

Farmonaut applies satellite-based mineral detection to early exploration. A client sends an area as coordinates, a KML or KMZ file or a polygon and names the mineral, and lithium is on the list it can screen. Delivery takes 5 to 20 business days. Farmonaut says this can cut early-exploration timelines from months to days. It narrows where field teams look first and does not replace sampling or drilling.

Farmonaut also publishes pages on carbon footprinting, product traceability, fleet management and API developer documentation. They are listed for reference and are not evidence for any figure in this article.

American lithium mining companies

Albemarle, Silver Peak (Nevada). The Bureau of Land Management says Silver Peak is the only producing lithium mine in the United States. On 27 February 2026 it approved an expansion near Silver Peak in Esmeralda County. The mine has operated since 1965 and is now authorized on 8,058 acres, 1,601 of them public land. BLM says new technology is expected to raise lithium recovery by up to 100% from the same raw material (BLM). USGS says US production is withheld, that mine and mill employment was 70 people, and that net import reliance was above 50% of apparent consumption in 2025. USGS lists Chile (54%) and Argentina (43%) as import sources for 2021 to 2024 (USGS, Mineral Commodity Summaries 2026).

Lithium Americas, Thacker Pass (Nevada). Phase 1 is designed for 40,000 tonnes a year of battery-quality lithium carbonate, with mechanical completion targeted for late 2027. The joint venture is 62% Lithium Americas and 38% General Motors. The US Department of Energy loan is $2.23 billion, of which $867 million had been drawn: $435 million on 20 October 2025 and $432 million on 24 February 2026. On 30 January 2026 the Department received warrants for a 5% equity stake in Lithium Americas and a 5% non-voting economic interest in the joint venture. As of 18 March 2026 neither set had been exercised. The company guides 2026 capital spending to $1.3 to $1.6 billion (Lithium Americas). This corrects the earlier text, which dated the equity stake to October 2025.

Elevra Lithium. Piedmont Lithium and Sayona Mining completed their merger on 29 August 2025, and the combined company is Elevra Lithium. Piedmont’s stock and CDIs were delisted from Nasdaq and the ASX (Piedmont Lithium). The company calls itself one of the largest hard-rock lithium platforms. We could not confirm any Elevra output figure, so we give none.

Other US interests. Albemarle holds mineral rights at Kings Mountain, North Carolina, in an area with available lithium resources. The filings we opened do not show a producing mine there.

Frequently Asked Questions

Who are the world’s largest lithium mining companies?

There is no official ranking, because companies report in different units. Filings show large outputs at SQM (Chile), Albemarle (United States), Tianqi and Ganfeng (China), Rio Tinto (which bought Arcadium Lithium, the former Livent and Allkem, in March 2025), and PLS Group and Mineral Resources (Australia). The table above gives dated figures.

Which countries lead global lithium production in 2025?

Australia, China, Chile, Zimbabwe and Argentina were the leading lithium producers in 2025, per USGS. USGS counts seven mineral operations in Australia and two brine operations in Chile among the main sources, and nine mineral and six brine operations in China.

What technologies are innovating lithium extraction and processing?

Lithium comes from brines and from hard-rock ores such as spodumene. Direct lithium extraction (DLE) is a newer brine method, but a 2025 study of two Argentine salt flats found a higher water footprint per tonne at the DLE site (135.5 cubic metres) than at the evaporation site (51.0), using 2021 data. USGS reports that construction of lithium battery recycling plants continued through 2025.

Why is lithium so important for the future of energy and transportation?

USGS estimates that batteries made up 88% of global lithium end uses in 2025. Demand comes from electric vehicles, grid energy storage, portable electronics and electric tools.

What are the biggest environmental challenges facing lithium mining companies?

Water use is the best documented. The 2025 Heliyon study measured 51.0 cubic metres of water per tonne of lithium carbonate at an evaporation site and 135.5 at a DLE site in Argentina, using 2021 data. Land use and community effects depend on the site, and we have not rated any company.

How does Farmonaut support lithium mining companies?

Farmonaut offers satellite-based screening of an area of interest in early exploration. The section above on satellite screening gives the details and the limits.

What the Numbers Show

Three points hold up against the filings. First, company size depends on the measure. A tonne of spodumene concentrate, a tonne of carbonate and a dollar of net sales are different things. Second, ownership changed a lot in the last two years: Livent and Allkem merged into Arcadium, Rio Tinto bought Arcadium, SQM and Codelco formed Nova Andino Litio, and Piedmont and Sayona formed Elevra. Third, prices moved from low levels in 2025 to higher levels in 2026, and several idle plants restarted.

Check the date on every figure before you use it. Company results change each quarter, and USGS revises its estimates each year.