Lithium Mining Market Projected to Reach $17 Billion By 2035 as it is Expected to be the Cornerstone of Global Energy Transition

PALM BEACH, Fla., Oct. 07, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - A report from Market Research Future Analysis said that the Lithium Mining Market, which was valued at USD 3.02 Billion in 2024, is projected to grow from USD 4.19 Billion in 2025 to USD 17.54 Billion by 2035, with a CAGR of 8.66% during the forecast period. It said: “The growth is driven by the increasing demand for electric vehicles (EVs) and renewable energy storage systems, as lithium is essential for lithium-ion batteries used in these applications. The market is also witnessing a shift towards battery recycling in emerging markets to address environmental concerns and supply chain challenges. The expansion of energy storage solutions significantly impacts the Global Lithium Mining Market Industry. As renewable energy sources like solar and wind become more prevalent, the need for efficient energy storage systems rises. Lithium-ion batteries are at the forefront of this transition, providing reliable storage solutions that facilitate the integration of renewable energy into the grid. The increasing deployment of battery storage systems in residential, commercial, and industrial applications drives demand for lithium. This trend is expected to continue, with the market projected to experience substantial growth as energy storage becomes a critical component of modern energy infrastructure.” Active Companies in the mining industry this week include US Critical Metals Corp. (OTCQB: USCMF) (CSE: USCM), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), Albemarle Corporation (NYSE: ALB), Critical Metals Corp. (NASDAQ: CRML), MP Materials Corp. (NYSE: MP).

The Market Research Future Analysis report continued: “Government policies and incentives play a crucial role in shaping the Global Lithium Mining Market Industry. Many countries are implementing favorable regulations to encourage lithium mining and production, recognizing the strategic importance of lithium for energy transition and technological advancement. For instance, tax incentives, subsidies, and streamlined permitting processes are being introduced to attract investments in lithium projects. These supportive measures not only foster domestic production but also enhance global competitiveness. As nations strive to secure their lithium supply chains, the industry is likely to witness accelerated growth, aligning with global sustainability goals and energy independence.” It concluded: “The increasing global demand for electric vehicles (EVs) serves as a primary driver for the Global Lithium Mining Market Industry. As governments worldwide implement stricter emissions regulations and promote sustainable transportation, the need for lithium-ion batteries, which rely heavily on lithium, escalates. By 2035, the Lithium Mining Market is expected to be a cornerstone of the global energy transition.”

US Critical Metals Corp. (OTCQB: USCMF) (CSE: USCM) Amends McDermitt East Option Agreement to Provide for Acquisition of 100% Interest in the Project - US Critical Metals Corp. (FSE: 0IU0) (“USCM” or the “Company”) together with its wholly owned subsidiary US Energy Metals Inc. (“USEM”), is pleased to announce that it has entered into an amending agreement (the “Amendment”) with Live Energy Minerals Corp. (“LIVE”) and Lithium Valley Holdings Corp. (“LVH”) to restructure the terms of the previously announced Exploration and Option to Enter Joint Venture Agreement dated September 15, 2023 (the “Original Agreement”) (see full press release, here). The Amendment provides USCM with a clear path to acquire a 100% ownership interest in the McDermitt East Lithium Project (the “Project” or “McDermitt East”), located in the McDermitt Caldera, one of the largest lithium districts in North America.

The McDermitt Caldera is anchored by the Thacker Pass Project, currently being constructed by Lithium Americas. The U.S. government recently acquired an equity stake in Lithium Americas and released the first tranche of a project construction loan. This support is consistent with broader government funding initiatives across the critical minerals sector, including the investment in MP Materials’ Mountain Pass rare earth mine.

By moving forward with consolidating 100% ownership of McDermitt East, USCM expects to strengthen its position as a North American-focused critical minerals company, advancing assets aligned with U.S. government priorities to reduce reliance on Chinese-controlled supply chains.

USCM previously reported sampling results of up to 2,129 ppm lithium at McDermitt East, underscoring the Project’s potential as part of a strategically vital U.S. lithium district (reference full press release, here).

Management Commentary - Darren Collins, CEO of USCM, commented: “This transaction represents a significant milestone for USCM, as it provides a direct path to full ownership of McDermitt East, a highly strategic asset located in one of the most important lithium districts in the world. Consolidating our position reinforces our commitment to building a portfolio of projects that directly support U.S. supply chains and critical mineral independence. USCM now controls strategic footholds in the two preeminent lithium districts in the U.S., including the McDermitt and Clayton Vally through its 100% interest in the Clayton Ridge Lithium Project.”   Continued… Read this full release and additional news for US Critical Metals by visiting: https://uscmcorp.com/news/

Other recent developments in the mining markets include:

Critical Metals Corp. (NASDAQ: CRML) recently announced that it has entered into a securities purchase agreement with a fundamental institutional investor to raise $35,000,000 of gross proceeds via a private investment in public equity (“PIPE”) transaction. The Company intends to use the net proceeds from the offering to help fund the development of its 4.7 billion metric ton rare earth deposit, Tanbreez, in Greenland.

“This financing from a fundamental institutional investor further validates the opportunities ahead for Tanbreez and Critical Metals Corp and underscores the growing need for heavy rare earths in the West,” said Tony Sage, CEO and Executive Chairman of Critical Metals Corp. “We look forward to welcoming this new institutional investor as we advance our commercialization roadmap for Tanbreez and bring this game changing rare earth asset closer to production.”

CB&I recently announced it has been awarded a large contract by Lithium Nevada LLC, a wholly owned subsidiary of Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), to execute the engineering, procurement, fabrication, and construction (EPFC) of 36 flat-bottom atmospheric tanks at Thacker Pass ("the Project").

Thacker Pass, located in northern Nevada's Humboldt County, is the world's largest known measured lithium resource (measured and indicated) and reserve (proven and probable). The Project is managed by engineering, procurement and construction management (EPCM) contractor, Bechtel. As demand for lithium is expected to increase over the next decade, Thacker Pass will play a vital role in reducing U.S. reliance on foreign critical minerals and creating a secure domestic lithium battery supply chain.

MP Materials Corp. (NYSE: MP) recently announced it has entered into a transformational public-private partnership with the United States Department of Defense (“DoD”) to dramatically accelerate the build-out of an end-to-end U.S. rare earth magnet supply chain and reduce foreign dependency.

With a multibillion-dollar package of investments and long-term commitments from DoD, MP Materials will construct the Company’s second domestic magnet manufacturing facility (the “10X Facility”) at a soon-to-be-chosen location to serve both defense and commercial customers. Once the new facility is completed, expected to begin commissioning in 2028, MP Materials’ total U.S. rare earth magnet manufacturing capacity will reach an estimated 10,000 metric tons.

The Company also expects to add additional heavy rare earth separation capabilities at its Mountain Pass, California, facility, solidifying its status as a national strategic asset where high-purity rare earth materials are extracted, separated and refined all in one location.

Albemarle Corporation (NYSE: ALB), a global leader in lithium production, experienced a significant upward surge in its stock on September 24, 2025, becoming a notable market mover. The rally is primarily fueled by news that the U.S. government is reportedly considering acquiring a substantial stake in Lithium Americas (LAC), a move that has sent positive ripples across the entire lithium mining sector and underscores the strategic importance of securing domestic critical mineral supply chains. This development signals a potential turning point for an industry that has faced considerable volatility, offering a renewed sense of confidence for investors and stakeholders.

The immediate implications of this news are a boost in investor sentiment towards lithium producers, particularly those with significant U.S. operations or strategic alignment with national interests. For Albemarle, this translates into immediate stock appreciation and a re-evaluation of its long-term growth prospects amidst evolving geopolitical and economic landscapes.

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