Thai government deputy spokesman Radklao Inthawong Suwankiri announced on January 18 that two new lithium mines have been discovered in Ruangkiet and Bang E-thum in Phang Nga province.
The combined reserves of the two mines are estimated at 14.8 million tonnes, Thai PBS World quoted Ms Radklao as saying. In addition to lithium, large sodium deposits have also been found in the northeastern region of the country.
Lithium extraction area of a plant in Bolivia
The discovery of deposits containing the two natural elements needed for battery production will help boost Thailand's competitiveness in the battery and electric vehicle industries, reducing its dependence on foreign sources, the spokesman said.
The discovery of the lithium deposit means Thailand has the world's third-largest lithium resource, after Bolivia and Argentina. However, it is unclear whether the reserves can be exploited commercially, according to AFP.
“We are trying to figure out how much of the resource we have found can be used. It will take time,” Rudklao told The Nation.
Global lithium demand is estimated to double by 2025 and could reach more than 2 million tonnes by 2030, according to the spokesperson.
The government of Thai Prime Minister Srettha Thavisin has made it a priority to turn the country into a regional hub for electric vehicle production, drawing on its experience assembling conventional cars.
At the World Economic Forum in Davos, Switzerland, this week, Mr. Srettha met with many industry leaders, including the vice president of Bosch, to call for investment in electric vehicle production in Thailand.
In December 2023, two Chinese electric vehicle companies said they would invest 2.3 billion baht ($64 million) to help Thailand develop into an electric vehicle manufacturing hub.
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