On January 18th, 2024, Mrs. Radklao Inthawong Suwankiri, the Deputy Spokesperson for the Thai Prime Minister’s Office, publicly revealed a discovery, by the Thai Ministry of Industry, of two potential Lithium reserves in Reung Kiet and Bang I Tum, in Phang Nga.
Furthermore, there was a huge amount of Sodium reserves in northeast Thailand discovered. Both mineral reserves, Lithium and Sodium, were important raw materials used in the production of electric vehicle (EV) batteries. It would enhance Thailand’s potential readiness to advance as a regional EV battery production hub, said Radklao.
According to statistics by the Thai Department of Primary Industries and Mines, there were Lithium resources of more than 14.8 trillion tonnes, landing Thailand in the top 3 global ranking.
This discovery was good news that would potentially expand the EV industry in Thailand by a huge leap and would lure Thai and international investors to establish new factories, said Radklao.
However, it was estimated that the demand for Lithium would increase twofold in 2025 and more than 2 million tonnes would be needed by 2030, remarked Radklao.