One cache, found along the borders of Nevada and Oregon, potentially holds as much as 40 million metric tons of lithium, while Chinese state media said reserves had been found that upped its share of global lithium supplies from 6% to 16.5%, although details were scant.

The China Geological Survey says new discoveries mean the country's share of the world's known lithium reserves have increased from 6 per cent to 16.5 per cent.

New site signals a potential 30 million ton addition to China's lithium resources, increasing global share from 6 to 16.5 percent.

Recent finds, including a massive deposit in Tibet, will help meet demand for metal, which is key for EV batteries and other technologies.