Chemical equation represents a redox reaction :
2Li + MgCl₂ → 2LiCl + Mg
The oxidation-reduction reaction or abbreviated as Redox is a chemical reaction in which there is a change in oxidation number
Reaction
2Li + MgCl₂ → 2LiCl + Mg
Oxidation is an increase in oxidation number, while reduction is a decrease in oxidation number.
Oxidation
[tex]\tt Li\rightarrow Li^+(0~to~+1)[/tex]
Reduction
[tex]\tt Mg^{+2}\rightarrow Mg(+2~to~0)[/tex]