LITHIUM

Current trends show that 7 to 9 times more lithium is needed by 2030 to meet global demand for battery manufacturing.

While it is used to fuel our mobile phones, laptops and other devices, what’s really driving interest in lithium – the world’s least dense metal – is a surging demand for electric vehicles and battery power storage.  

High quality spodumene concentrate, suitable for conversion in high Nickle battery applications, is the next frontier of lithium demand as a global deficit in supply looms. Battery production however, typically has a significant Green House Gas (GHG) footprint – and lithium chemicals heavily contribute to this. Therefore, it is vital for any future supply of lithium to be produced in a sustainable manner that minimises its carbon footprint.

The demand for lithium is significant and prices are increasing.

The world lithium market will require exponential growth in the next decade, as a lack of financing is expected to lead to lower supply.

Global leaders in financial service, JPMorgan, believes supply will struggle to keep up [with demand], with a perpetual deficit visible beyond 2030 until more projects are defined by the industry”.

In August 2021, JPMorgan upgraded its long-term price forecasts for lithium spodumene by 31 per cent to $US850 a tonne, forecasting a 19 per cent compound annual growth rate over the next 10 years in demand terms.