"Given the administration's timeline, they have no choice but to allow more domestic mines," said Jon Evans, chief executive of Lithium Americas (NYSE: LAC ) Corp, which is developing the Thacker Pass lithium deposit in Nevada. Underscoring the supply challenge, the International Energy Agency this month forecast global demand for lithium will jump 40 times by 2040, while cobalt and nickel demand would rise at least 20 times. Chile and Australia - the world's two largest producers of lithium - ship most of their product to Asia for processing into battery cathodes and other parts. Expecting those countries to divert existing supply chains to the United States is not realistic, executives said. "American manufacturing must include sourcing the raw materials needed for manufacturing here in the United States, rather than continuing to rely on other countries for these resources," said Kathy Graul of Antofagasta (LON: ANTO ) Plc's proposed Twin Metals copper mine project in Minnesota.