Do you know what tons are? Would you like to invest in lithium? Learn all about tonnes and Lithium in this post!
Lithium is a silver-white metal in its pure form, which is not found in nature due to its strong reactivity, which allows it to rapidly react with water, oxygen, and other molecules in the air to generate various compounds. Lithium is mined from two types of deposits: vein deposits and natural brines. Lithium is recovered from brine reserves in salt lakes using an evaporation technique.
Brine harvesting is more widespread and is generally seen to be a more convenient approach than mining, however the ore recovered this way is of inferior quality. Lithium mining in deposits necessitates geological investigations and rock drilling, which might raise expenses, but the lithium recovered this way is of higher quality.
The lithium market began in this century, when the litio was a strategic resource in the military industry. During the first half of the twentieth century, it was used in the manufacture of hydrogen bombs. It wasn’t until the 1980s that the first rechargeable, functional ion batteries were developed, but research efforts were diverted to other fields.
More than half of the 40 million tons of confirmed lithium deposits on the earth are concentrated in Chile, Bolivia, and Argentina. Despite the fact that Bolivia has the greatest deposit in the Uyuni salt flat, Chile, which has the world’s second largest reserve in the Atacama salt flat, is presently the leading international producer, with Australia.
The difficulty with Bolivian lithium, according to specialists, is that its resources are combined with magnesium, requiring expensive inputs to separate them. Despite having nine million tons of deposits, the country confronts significant problems in manufacturing the metal.
Due to the number of countries that can produce lithium, those interested in investing in lithium must take into account that they can have profits in various currencies. To do this, there are quite a few platforms that are dedicated to carrying out this type of monetary exchange process for commodity metals such as lithium. We particularly recommend Metals-API.
Why You Should Use Metals-API?
Metals-API is the greatest service for getting per-tonne metal pricing. Furthermore, it is the most trustworthy of all, as it gathers all of the information from outstanding sources. The famed London Metal Exchange is one of its suppliers.
Jewelers Mutual Group, Injective Protocol, and Metex, among others, are among its clientele. Metal prices are also obtained in real time, with an accuracy of two decimal places and a frequency of up to every 60 seconds (depending on the plan you choose clearly).
Delivery of precious metal exchange rates, time series data feedback, fluctuation data, and the lowest and highest price of each day are among the capabilities. It also contains a fantastic money conversion mechanism. Regardless of which the country’s currency will very certainly be included, regardless of where you are from.
To get an account on Metals-API you have to follow this steps:
- Visit www.metals-API.com to obtain an API key.
- A list of metal and money symbols will show after that. The currency sign and the LTH (Lithium) symbol should both be chosen.
- Before performing the API request, add the symbols to the list with them once you’ve made your pick. You can also select a computer language.
- Now all you have to do is press the “run” button, and you’re done! Your device will display the API.
- This API returns troy ounce rates. To convert kilos to tonnes, multiply the Metals-API rate by 3.11035e-5. After that, you’ll be able to calculate the cost.
If you have any questions, remember that on the website you will find a manual about how this system works. But if there is something you don’t understand, there is a virtual chat, always online from 9 a.m. to 6 p.m. (GMT+1).