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Lithium Deposits Being Hyped By Some in Iran

OOOOPS! — Oil prices dropped by $14 or 18 percent in the five trading days after April 2. The cause was undoubtedly due to two events April 3. First, President Trump announced his tariff punishment for the world (though he suspended many of those tariffs a few days later). Second, OPEC+ announced it was going to start pumping more crude, despite the fact that most analysts agree the market is already well-supplied. Unlike Trump, OPEC+ has not backtracked.

The Islamic Republic is pushing hard the idea that Iran has vast reserves of lithium, the metal needed for the batteries that are expected to power most cars in the near future. This isn’t surprising. The regime routinely proclaims that it leads the field of whatever is the fad of the day. Right now, in addition to lithium, the regime is proclaiming that the Islamic Re public is a master of artificial intelligence (AI).

The Fars news agency, linked to the Pasdaran, recently reported that the Ministry of Industry and Mines has found high lithium concentrations at three sites across the country. Fars suggested this could put Iran at the center of the global lithium industry and bring new wealth to the country, replicating the oil boom of the 20th century.

The claim is that the lithium deposits in Iran equal 20 percent of all the lithium previously discovered around the world. But Iran International reports an official in the Office of the Presidency says the total deposits amount to a mere 500 to 600 tons, which is of no significance. 

The latest data rank Bolivia as the top holder of lithium reserves, with an estimated 23 mil lion tons. With usable reserves close to 14 million tons, the US ranks third in the world. So, 600 tons in Iran wouldn’t be worth the trouble and expense of developing mines. among the people as the country’s economy deteriorates. This is not the first time that exaggerated claims about Iran’s lithium resources have circulated. In November 2024, ultra hardliner Hossain Allahkaram said Iran held the fourth-largest reserves of lithium in the world, even suggesting that Elon Musk sought negotiations with Iran. 

Similar misinformation spread in February 2023 when the state-owned Islamic Republic News Agency (IRNA) quoted a government official, Ebrahim Ali Molabeigi, claiming the discovery of 8.5 million tons of lithium in Hamedan Province.

Global excitement over the report faded after it was revealed to be a misinterpretation. The actual discovery was 8.5 million tons of hectorite clay containing lithium, not pure lithium reserves.

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