Germany has discovered one of the largest lithium deposits in the world.

Neptune Energy has announced the discovery of gigantic lithium carbonate reserves in Germany. The deposit, located in the Altmark region of Saxony-Anhalt, is estimated at 43 million tons of lithium carbonate equivalent, making it one of the largest known deposits in the world.

According to data from the international agency Sproule ERCE, the new deposit could significantly shift the balance of power in the global market for this strategic resource. Earlier forecasts suggested up to 70 million tons, but current estimates still place Germany among the world leaders in lithium resources.

Global competition for “white gold”

Lithium is often called “white gold” due to its strategic importance. Control over its extraction has long been contested by the world’s largest economies, including the United States and China.

Significant deposits are also found in Ukraine, particularly in Donbas, which is currently partially occupied by Russian forces.

In Africa, Chinese companies are actively operating in the sector. In Zimbabwe, firms such as Zhejiang Huayou Cobalt, Sinomine Resource Group, and Chengxin Lithium Group invested $678 million in 2022 in lithium mining and processing. Moreover, local authorities exempted them from export bans that applied to other entities, further strengthening their position.

Europe on a new path

The discovery in Germany could be groundbreaking for reducing European industry’s dependence on lithium imports from Asia and Africa. It is also an opportunity to accelerate the development of battery technologies and electromobility in a region that has so far relied heavily on imports.