Explore critical minerals statistics for batteries and clean energy. In 2023, global lithium demand rose 30% year-on-year to ~130,000 tons LCE, with battery demand accounting for 85% of consumption. Compare prices across regions and track supply and reserves—global mine output and leading reserve holders in Australia, Chile, and China—to understand how today’s markets shape demand for lithium, cobalt, nickel, and graphite.
Key Takeaways
- Clean energy technologies accounted for 35% of total lithium demand in 2023
- Global lithium demand grew by 30% year-on-year to approximately 130,000 tons LCE in 2023
- Battery demand represented 85% of global lithium consumption in 2023
- Lithium prices averaged $32,717 per metric ton for carbonate in China spot 2023
- Battery-grade lithium hydroxide price averaged $17,168 per ton in North Asia 2023
- Cobalt metal powder price averaged $28,162 per metric ton in US 2023
- Global lithium mine production reached 180,000 metric tons LCE in 2023
- Australia produced 88,000 metric tons LCE of lithium in 2023
- Chile's lithium production was 44,000 metric tons LCE in 2023
- Global reserves of lithium are estimated at 28 million metric tons of lithium carbonate equivalent (LCE)
- Australia holds the largest lithium reserves at 6.2 million metric tons LCE as of 2024
- Chile's lithium reserves stand at 9.3 million metric tons LCE
- EV battery demand for lithium projected to increase 40-fold by 2040 under STEPS scenario
- Cobalt demand from clean energy tech to quadruple by 2030 to 1 million tons APS scenario
- Nickel battery demand growth to reach 7x by 2040 in net zero scenario
In 2023 lithium demand surged, driven by batteries and clean energy, even as reserves stay concentrated.
Related reading
01 · Category
Consumption And Demand26 stats
01
Clean energy technologies accounted for 35% of total lithium demand in 2023
02
Global lithium demand grew by 30% year-on-year to approximately 130,000 tons LCE in 2023
03
Battery demand represented 85% of global lithium consumption in 2023
04
US apparent lithium consumption was 7,200 metric tons LCE in 2023
05
Electric vehicle batteries drove 60% of cobalt demand globally in 2023
06
World cobalt consumption exceeded 200,000 metric tons in 2023
07
US cobalt apparent consumption totaled 7,100 metric tons in 2023
08
Nickel demand for EV batteries reached 15% of total consumption in 2023
09
Global nickel consumption was around 3,200,000 metric tons in stainless steel and batteries in 2023
10
US nickel apparent consumption stood at 85,000 metric tons in 2023
11
Graphite demand for batteries surged 25% to 500,000 tons in 2023
12
Natural graphite consumption in the US was 29,000 metric tons in 2023
13
Synthetic graphite overtook natural in battery anode demand at 60% share in 2023
14
Rare earth demand for magnets in EVs and wind turbines hit 200,000 tons REO in 2023
15
US REO apparent consumption was 11,000 metric tons in 2023
16
Neodymium-praseodymium (NdPr) oxide demand grew 15% to 60,000 tons in 2023
17
Global manganese consumption for steelmaking was 20 million tons Mn units in 2023
18
US manganese apparent consumption reached 1,100,000 metric tons (gross wt) in 2023
19
Battery sector consumed 10% of manganese alloys in 2023
20
US copper consumption 1,800,000 t in 2023
21
Global EV sales drove 4 million tons copper demand in 2023
22
Aluminum consumption in US 5,700,000 t in 2023
23
Antimony US consumption 5,000 t in 2023
24
Gallium global demand 500 t for semiconductors and LEDs in 2023
25
Germanium demand 150 t mainly for fiber optics in 2023
26
Tantalum US consumption 200 t for capacitors in 2023
Interpretation
Consumption And Demand Interpretation
In the Consumption and Demand picture, lithium demand surged 30% year-on-year to about 130,000 tons LCE in 2023 and with 85% going to batteries and 35% of total lithium used for clean energy, growth is clearly being pulled by electrification, while cobalt shows an even stronger EV tilt with 60% of demand tied to electric vehicle batteries.
02 · Category
Prices And Market Trends26 stats
01
Lithium prices averaged $32,717per metric ton for carbonate in China spot 2023
02
Battery-grade lithium hydroxide price averaged $17,168per ton in North Asia 2023
03
Cobalt metal powder price averaged $28,162per metric ton in US 2023
04
Cobalt hydroxide (Co 30%) CIF China averaged $18,500 per ton in 2023
05
Nickel cathode (London Metal Exchange) averaged $21,795per metric ton in 2023
06
Standard-grade nickel (Rotterdam) averaged $21,600per ton in 2023
07
Natural graphite (lump + chip) averaged $685per metric ton in China 2023
08
Large flake (+80 mesh) graphite averaged $1,275per ton in 2023
09
NdPr oxide price averaged $85,000per metric ton FOB China in 2023
10
Dysprosium oxide averaged $350per kg in China 2023
11
Electrolytic manganese metal averaged $2,150per metric ton in China 2023
12
Silicomanganese (DC) averaged $1,350per gross ton in US 2023
13
Antimony trioxide averaged $11,300per metric ton in Europe 2023
14
Beryllium (Be) metal 99.5% min avg $800 per kg in US 2023
15
Chromium metal avg $2,500-$4,000 per ton in US 2023
16
Gallium (99.99% Ga) avg $525 per kg in US 2023
17
Copper price LME averaged $8,492per ton in 2023
18
Aluminum avg $2,798per ton LME in 2023
19
Antimony regulus avg $11,000/t China in 2023
20
Tantalum oxide avg $196/kg min 99.9% in US 2023
21
Tungsten carbide avg $37/kg in US 2023
22
Vanadium pentoxide avg $8.50/lb V2O5 Europe 2023
23
Zinc avg $2,840/t LME 2023
24
Tin avg $25,365/t LME 2023
25
Platinum avg $987/oz in 2023
26
Palladium avg $1,190/oz LME 2023
Interpretation
Prices And Market Trends Interpretation
In 2023, prices across key critical minerals were highly range bound with lithium at $32,717 per metric ton for China spot carbonate and nickel staying near $21,600 to $21,795 per metric ton on LME and Rotterdam, underscoring that market trends for batteries and metals remained relatively steady rather than swinging wildly.
03 · Category
Production Statistics30 stats
01
Global lithium mine production reached 180,000 metric tons LCE in 2023
02
Australia produced 88,000 metric tons LCE of lithium in 2023
03
Chile's lithium production was 44,000 metric tons LCE in 2023
04
China produced 33,000 metric tons LCE of lithium in 2023
05
Argentina's lithium output was 9,600 metric tons LCE in 2023
06
World cobalt mine production totaled 220,000 metric tons in 2023
07
DRC produced 170,000 metric tons of cobalt in 2023
08
Indonesia's cobalt production reached 18,000 metric tons in 2023
09
Russia produced 8,800 metric tons of cobalt in 2023
10
Global nickel mine production was 3,500,000 metric tons in 2023
11
Indonesia led with 1,800,000 metric tons of nickel production in 2023
12
Philippines produced 420,000 metric tons of nickel in 2023
13
Russia output 270,000 metric tons of nickel in 2023
14
World natural graphite production hit 1,400,000 metric tons in 2023
15
China produced 1,100,000 metric tons of natural graphite in 2023
16
Madagascar's graphite production was 150,000 metric tons in 2023
17
India produced 40,000 metric tons of graphite in 2023
18
Global REO mine production reached 350,000 metric tons in 2023
19
China produced 270,000 metric tons REO in 2023
20
Australia output 18,000 metric tons REO in 2023
21
Myanmar produced 12,000 metric tons REO in 2023
22
World manganese ore production (gross weight) was 20,000,000 metric tons Mn content equivalent in 2023
23
South Africa produced 7,400,000 metric tons of manganese ore in 2023
24
Australia manganese production reached 6,600,000 metric tons in 2023
25
Gabon output 4,200,000 metric tons of manganese ore in 2023
26
Global copper mine production reached 22 million metric tons in 2023
27
Chile produced 5.4 million metric tons of copper in 2023
28
Peru's copper output was 2.6 million metric tons in 2023
29
DRC copper production hit 2.5 million metric tons in 2023
30
China copper mine production 1.7 million tons in 2023
Interpretation
Production Statistics Interpretation
In 2023, lithium production was highly concentrated with the top two countries, Australia at 88,000 metric tons LCE and Chile at 44,000 metric tons LCE, producing over half of the world’s 180,000 metric tons LCE total, highlighting how the production statistics landscape is dominated by a few key producers.
More related reading
04 · Category
Reserves And Resources24 stats
01
Global reserves of lithium are estimated at 28 million metric tons of lithium carbonate equivalent (LCE)
02
Australia holds the largest lithium reserves at 6.2 million metric tons LCE as of 2024
03
Chile's lithium reserves stand at 9.3 million metric tons LCE
04
China possesses 3 million metric tons of lithium reserves
05
Argentina has 3.6 million metric tons LCE in lithium reserves
06
World cobalt reserves total 8.5 million metric tons
07
Democratic Republic of Congo holds 6 million metric tons of cobalt reserves
08
Australia has 1.7 million metric tons of cobalt reserves
09
Indonesia's cobalt reserves are estimated at 600,000 metric tons
10
Global nickel reserves amount to 100 million metric tons
11
Indonesia leads nickel reserves with 21 million metric tons
12
Brazil has 16 million metric tons of nickel reserves
13
Australia holds 24 million metric tons of nickel reserves
14
World natural graphite reserves are 340 million metric tons
15
China has 190 million metric tons of graphite reserves
16
Brazil possesses 74 million metric tons of graphite reserves
17
Madagascar holds 26 million metric tons of graphite reserves
18
Global rare earth oxide (REO) reserves total 110 million metric tons
19
China dominates REO reserves with 44 million metric tons
20
Vietnam has 22 million metric tons of REO reserves
21
Brazil holds 21 million metric tons of REO reserves
22
World manganese reserves (contained Mn) are 1.7 billion metric tons
23
South Africa has 530 million metric tons of manganese reserves
24
Australia possesses 430 million metric tons of manganese reserves (Mn content)
Interpretation
Reserves And Resources Interpretation
Under Reserves And Resources, lithium supply is heavily concentrated with Chile leading at 9.3 million metric tons LCE and Australia holding 6.2 million, against a world total of 28 million metric tons LCE, while cobalt reserves also cluster at 8.5 million metric tons globally.
05 · Category
Supply Risks And Projections15 stats
01
EV battery demand for lithium projected to increase 40-fold by 2040 under STEPS scenario
02
Cobalt demand from clean energy tech to quadruple by 2030 to 1 million tons APS scenario
03
Nickel battery demand growth to reach 7x by 2040 in net zero scenario
04
Graphite demand forecast to rise 8-fold by 2040 for batteries
05
Rare earths demand expected to triple by 2040 driven by magnets
06
90% global lithium supply concentrated in Australia, Chile, and China in 2023
07
DRC supplies 70% of world cobalt production, posing high supply risk
08
China processes 85% of global rare earth elements, creating supply vulnerability
09
Indonesia controls 50% of nickel mine production amid export bans
10
Recycling supplied 25% of cobalt demand in 2023, highest among critical minerals
11
60% of copper supply risk from Chile and Peru concentration
12
China dominates 60% of aluminum production capacity
13
Gallium 98% produced in China, high geopolitical risk
14
Germanium 60% refined in China, supply chain vulnerability
15
Tungsten 80% mine production from China
Interpretation
Supply Risks And Projections Interpretation
Under the Supply Risks And Projections lens, demand is set to surge while supplies stay highly concentrated, with lithium projected to rise 40-fold by 2040 in the STEPS scenario and 90% of global lithium supply already concentrated in Australia, Chile, and China in 2023.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Alexander Schmidt. (2026, February 24). Critical Minerals Statistics. Gitnux. https://gitnux.org/critical-minerals-statistics
MLA
Alexander Schmidt. "Critical Minerals Statistics." Gitnux, 24 Feb 2026, https://gitnux.org/critical-minerals-statistics.
Chicago
Alexander Schmidt. 2026. "Critical Minerals Statistics." Gitnux. https://gitnux.org/critical-minerals-statistics.
Sources & references
8 datasets cited across this report