Iran lithium field discovery to change balance of power: Israeli media | Al Mayadeen English
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A turning point in the energy market
The Israeli newspaper said the discovery offers significant economic opportunities and rare energy resources for the Iranian government.
It is already evident that by controlling about 10% of the world’s lithium consumption and having dominance over this strategic raw material, Iran will emerge as a major geopolitical player in global politics and economy.
In the face of the escalating climate crisis, the lithium field, along with other energy sources, including nuclear energy, provides power, political influence, economic strength, and energy for the Tehran government.
It is expected that all these aspects and their implications will be leveraged to benefit the region, including the international arena.
Consequently, not only is it likely to significantly enhance Iran’s influence, but it may also surpass that of Gulf states, namely major oil producers in the world, particularly Saudi Arabia and the United Arab Emirates. This situation could shift the balance of power and regional dynamics in Iran’s favor.
Without lithium in trade, Iran traded with Iraq, the UAE, Saudi Arabia, Qatar, Bahrain, and Kuwait, 50.08 million tons of goods, worth $29.22 billion, during the first 10 months of the current Iranian year, registering a 0.08% year-on-year rise in weight and 15.43% year-on-year increase in value, according to the latest data released by the Islamic Republic of Iran Customs Administration.
Iran’s top trade partner was the UAE, with 20.27 million tons (up 5.48%) worth $19.77 billion (up 17.42%). Iraq follows with 24.33 million tons (down 9.97%) worth $9.08 billion (up 10.47%) and Kuwait with 4.57 million tons (up 62.98%) worth $181.01 million (up 32.45%).
During the same period, Iran’s non-oil exports to the six states hit 38.93 million tons, valued at $14 billion, to record a 2.9% and a 23.91% rise in terms of weight and value respectively.
The finding would strengthen Iran’s negotiating position within various economic and security alliances and agreements, shifting the focus of attention from the oil market to the lithium and “white gold” mining industries in the region, the Israeli newspaper explained.
From a medium to long-term economic perspective, lithium prices, which have been rising in recent years due to increasing global demand and demand for lithium-ion batteries for electric vehicles, are expected to maintain a similar trend, significantly enriching the Iranian economy.
