Competitive operating costs and supportive government policies are also expected to play a key role in Mexico's mining industry strong recovery.
Tesla Mining News
Final study focuses on a two-phase open pit mine and lithium carbonate processing facility with a life of over 20 years.
Chief Executive Elon Musk said firm is on track to produce 20,000 per month by December.
Transaction will see the Tokyo-based trader acquiring up to 100% of the output coming from Bacanora's Sonora lithium project in Mexico.
The country's sector, dominated by precious metals and zinc, will be well-positioned for the expected price outperformance of these commodities, shows new report.
The company's stock has fared better than many competitors in the last two years, boosted by the resilience of the lithium price, which has tripled since 2000 regardless of the commodity cycle.
The move by the world's largest asset manager shows increasing interest in the lithium market.
The miner is seeking strategic alliances with battery or car manufacturers to underpin the development of its Jadar lithium-borate project in Serbia.
The Sonora project holds 5.0 million tonnes of lithium carbonate equivalent, which is 337% higher that the previously reported 1.14 million tonnes.
The company that sealed the high-profile deal to supply lithium to electric carmaker is in fact London-based Rare Earth Minerals (LON:REM).