You are comparing the lithium reserves of two leading lithium producers, Albemarle Corporation and Sociedad Qumica y Minera de Chile (SQM), for the fiscal year

You are comparing the lithium reserves of two leading lithium producers, Albemarle Corporation and Sociedad Química y Minera de Chile (SQM), for the fiscal year 2023.

Requirements:

1. Albemarle Corporation reported lithium reserves of 10 million metric tons (MT) at the end of 2023. SQM reported lithium reserves of 8 million MT during the same period.
2. Calculate the difference in lithium reserves between Albemarle Corporation and SQM.
3. Analyze and discuss the implications of the difference in lithium reserves on the market positioning and future growth prospects of both companies.