NPR.
This century, lithium is a hot commodity.
That's thanks to the lithium ion battery used in phones, electric vehicles and grid scale batteries.
More than 90% of the batteries in North American electricity grids are lithium ion.
And the reason lithium is so prized for batteries is that it's the lightest metal there is.
Yeah.
So not heavy metal, light metal.
Exactly.
It's less Pantera, more Bon Jovi.
Light, light metal.
Yes, the Bon Jovi of the periodic table.
But unlike Bon Jovi, it is not all American.
Lithium mining happens across the globe, but when it comes to processing, an estimated two thirds is processed Chinese companies.
China realized that whoever controls the production of lithium and other critical minerals will control the 21st century economy the way that control of oil defined the 20th century economy.
That's Ernest Scheider.
He's the author of the War Lithium, Copper and the Global Battle to Power Our Lives.
He says the US Was once a lithium pioneer.
Now it's trying to play catch up.
This is the indicator from Planet Money.
I'm Darren Woods.