China Geological Survey (CGS) released the Global Lithium, Cobalt, Nickel, tin and potash Mineral Resources Reserves Assessment Report (2021) on Oct 22.
Data show that as of 2020, the global lithium ore (lithium carbonate) reserves of 128 million tons, the resource volume of 349 million tons, mainly distributed in Chile, Australia, Argentina, Bolivia and other countries. Cobalt ore reserves of 6.68 million tons, 23.44 million tons of resources, Congo (DRC), Indonesia, Australia and other countries are the most enriched. The reserves of nickel ore are 90.63 million tons and 260 million tons, with Indonesia ranking first in the world and Australia, Russia and other countries rich in resources. The reserves of tin ore are 3.27 million tons and the resources are 8.07 million tons. China, Russia, Southeast Asia and other countries and regions are the main sources of tin ore. The world's reserves of potash (potassium chloride) are 12.9 billion tons and the resources are 43 billion tons. Russia, Canada, Belarus and Turkmenistan account for 80% of the world's reserves, and Russia has surpassed Canada to become the largest country in potash reserves.
In terms of consumption, the global consumption of lithium (lithium carbonate) in 2020 is about 400,000 tons, cobalt about 170,000 tons, nickel about 2.4 million tons, tin about 380,000 tons and potassium salt (potassium chloride) about 54 million tons. Compared with the existing reserves, the global lithium, nickel and potash resources are relatively secure, while cobalt and tin resources are relatively low.
Next, the department of natural resources will accelerate the China geological survey, establish and improve the global mineral resources reserves data system and evaluation mechanism, plans to use five years time to complete the global 40 kinds of important dynamic assessment of mineral resources reserves, and timely publishing services, actively to promote global mining cooperation, build a global mining fate community contribution China's wisdom and strength.
On the same day, the International Mining Research Center of China Geological Survey also released the Global Mining Development Report (2020-2021). The report shows that since the outbreak of COVID-19, the global demand for energy and resources has been shrinking and the structure has been differentiated, with the consumption of energy and bulk minerals declining and the consumption of new energy and minerals growing rapidly. Total global energy consumption fell by 4.5% in 2020, the biggest drop since World War II; Oil, coal and natural gas decreased by 9.5 percent, 3.9 percent and 2.1 percent, respectively. Renewable energy sources such as wind power, hydropower and solar energy increased by 9.7 percent. Iron and aluminum fell 0.2% and 0.7%, respectively. Copper, lithium and cobalt increased by 6.2%, 15.3% and 7.3% respectively.
The report shows that since the second half of 2020, the performance of mining companies generally recovered, revenue and market value continued to rise. The combined market capitalisation of the world's top 50 mining companies hit a record high of $1.47tn. The comprehensive strength of mining giants has further improved, accelerating the distribution of copper, lithium, cobalt, nickel and other new energy minerals.
