As the world progresses into a more technology driven era, the need for lithium continues to increase. Lithium has become a key component for portable electronics, electric vehicles, and energy storage. With the rising demand, lithium stocks have become a hot topic among investors.
Before we get into the top 7 lithium stocks of 2023, let’s look at what exactly lithium is. Lithium is a naturally occurring soft, silvery white metal and is the lightest element on the periodic table. It has been in use since the 19th century when it was used in glass smelting to create a “crystal” structure. Today its uses are far more expansive. In electric vehicles, lithium-ion batteries allow for high-performance storage and minimal energy discharge. Lithium has also been used for solar batteries, providing a powerful and cost-effective energy solution.
Due to its widespread use, there is an increasing demand for lithium, leaving many investors interested in investing in lithium stocks. Below are the top 7 lithium stocks of 2023 that investors should consider adding to their portfolios:
1. Albemarle Corporation (ALB)
Albemarle Corporation is the world’s leading producer of specialty lithium chemicals, particularly lithium carbonate and lithium hydroxide. It is the only major foreign producer of lithium brine, which can be found in South America. With its massive production capabilities, Albemarle has been able to keep up with the surging demand for battery materials.
2. Sociedad Química Y Minera De Chile (SQM)
Sociedad Química Y Minera De Chile has been one of the most popular lithium stocks in recent years, and for good reason. The company focuses primarily on potash and lithium, and it has been able to stay ahead of the curve when it comes to supply. The company operates several production facilities in Chile, Australia, and China.
3. Livent Corporation (LTHM)
Livent Corporation is one of the largest and most diversified companies in the lithium sector. It has several production sites in South America, as well as North America, and it has mining operations on four continents. It is also one of the largest producers of lithium hydroxide.
4. Galaxy Resources Limited (GXY)
Galaxy Resources Limited has been able to keep up with the demand for lithium, due to its large production capabilities. It is the largest producer of lithium in the United Kingdom and it has some of the most advanced production facilities in the world.
5. Orocobre Ltd (OROCF)
Orocobre Ltd has been a major player in the lithium sector for quite some time now. It is one of the largest producers of brine-based lithium and is the second-largest producer in Argentina. Orocobre also operates in the United States and Australia.
6. Tianqi Lithium Corporation (1898.HK)
Tianqi Lithium Corporation is a Chinese company that produces lithium compounds for industrial and medical use. It produces several different types of lithium-ion batteries and has been able to increase its production to keep up with the surging demand as well.
7. Bacanora Minerals Ltd. (BCRMF)
Bacanora Minerals Ltd. is a Canadian company that specializes in lithium production. The company has mining operations in the United States, Mexico, and Chile and its production capabilities are impressive. While it is not the largest supplier of lithium, it is definitely worth considering if investors are looking for a good pick.
These are the top seven lithium stocks of 2023 that investors should consider adding to their portfolios. The lithium sector is booming and investing in these leading lithium producers is one of the best ways to get exposure to this exciting sector.