Proof of how much Serbia could mean to world right now: There's shortage of a metal we have a lot of

Huge orders have been stopped

The global market could soon see a major shortage of lithium, a key component in battery production.

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The shortage of this precious metal could be reflected in the production of many devices, such as cell phones, tablets, laptops, and electric cars.

"The current situation is so chaotic that it is difficult to predict what awaits us in the future," experts have commented for The Verge, adding that the current crisis caused by coronavirus has further complicated the market situation due to the closure of numerous production facilities, making it impossible to determine with certainty what the real situation is.

An additional complication is the difficulty in placing goods on the markets. Despite the reopening of Chinese factories, and the continued operation of lithium mines in countries such as Australia and Chile, exports of this metal continue to be difficult.

Namely, experts warn that demand for devices using this metal has fallen during the crisis, but stress that despite this there are still several companies that have large orders that have now been stopped.

"Can we get ships and containers? This is a major issue for all of us," commented a manager of one of the mines.

Serbia has the largest lithium deposits in Europe, while the potential for lithium batteries is enormous globally. Lithium is one of the most sought-after alkaline metals and raw materials in the world. This importance is owed to the growth in the electrical industry and the significant fall in the prices of components to produce renewable energy.

We were at the rigs themselves, see how lithium is extracted in Serbian villages:

(Telegraf Biznis)