The Association of Mining and Exploration Companies’ (AMEC) has released a report on Australia’s lithium resources.

A lithium industry in Australia: A value chain analysis for downstreaming Australia’s lithium resources is an independent report that is a call to action for Australia to capitalise on the estimated $2 trillion lithium value chain.

The report outlines how Australia can ensure that future generations gain economic and social benefits, and become a global player in undertaking greater lithium downstream processing.

It recommends that government and industry work collaboratively to ensure the greatest possible return in a competitive global market.

Western Australian lithium projects that have ramped up production include Greenbushes, Mt Caitlin, Mt Marion and Pilgangoora.

Australia produces more than 60 per cent of the world’s lithium, which is a key ingredient in electrical vehicles and batteries for smartphones.

Minister for Mines and Petroleum, Bill Johnston, said he welcomes AMEC’s report and acknowledges the importance of developing further downstream processing opportunities in WA, which will help diversify our economy.

“Western Australia’s lithium reserves, combined with our technical skills, industry capabilities and our close proximity to the manufacturing centres in Asia, make our state well placed to capitalise on the growing needs of the battery market.”

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