Lithium Monopoly in the Making? Beijing Expands in the Lithium Triangle

China  expands its influence in the “Lithium Triangle” as a component of a broader campaign to construct a near-monopoly in the global lithium market. The Lithium Triangle, comprising Argentina, Bolivia, and Chile, accounts for approximately 56% percent of global lithium supply. Beijing’s acquisition of multiple Argentinian, Chilean, and Bolivia lithium mining operations enables China to dominate regional lithium operations. From 2018- 2020, China invested approximately $16 billion on mining projects in the Lithium Triangle and will likely continue to invest in the region.Beijing’s economic dominance within the Lithium Triangle potentially threatens the U.S defense industrial base, affecting lithium supplies for military hardware. From 2016-2019, Argentine and Chilean exports accounted for 90% of the U.S lithium supply. The U.S defense industrial base relies on a steady lithium supply.