dec 31, 2017 at a rate of production of 21.3 kt per annum, australias current ore reserves of lithium are adequate for 79 years, increasing to 133 years when available edr of lithium are considered (table 4). table 4. average reserve life and resource life (years) for lithium as at december 2017. operating mines 1. all deposits.,lithium minerals education coalition,lithium. lithium is an element valuable for the production of glass, aluminum products, and batteries. it is mined from ores of petalite lial(si 2 o 5) 2, lepidolite k(li,al) 3 (al,si,rb) 4 o 10 (f,oh) 2, spodumene lial(sio 3) 2 and also subsurface brines. australia and chile are the worlds largest producers of lithium.