• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 23 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 5 days Energy Armageddon
  • 3 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 15 hours "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 21 hours "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 18 hours "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 22 hours The Federal Reserve and Money...Aspects which are not widely known
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 2 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 5 days Сryptocurrency predictions
  • 2 days Goldman Betting on Cryptocurrencies
  • 10 days Putin and Xi Bet on the Global South
Lithium Stocks Could Be A Buy As Rally Stalls

Lithium Stocks Could Be A Buy As Rally Stalls

The seemingly unstoppable rally in…

New Material Could Replace Lead In Many Energy Storage Devices

New Material Could Replace Lead In Many Energy Storage Devices

Penn State researchers have stumbled…

Australia’s Lithium Production And Profits Are Soaring

Australia, the world’s largest producer of lithium, is taking advantage of skyrocketing demand for this critical metal. The country’s lithium production and profits have soared in recent years, and that growth is set to continue.

This is one of the outtakes from a government report that Canberra issues on a quarterly basis. The latest edition noted that Australia’s earnings from lithium exports are set to expand tenfold over two years, from less than $715 million (A$1.1 billion) in 2020-2021 to almost $9 billion (A$13.8 billion) in 2022-2023.

Citing strong EV sales figures from this year, the Australian Office of the Chief Economist noted that “Key global automakers continue to accelerate plans to transition to EVs by developing new product lines and converting existing manufacturing capacity.”

“The global market share for passenger EVs has quadrupled since 2019, with EV sales representing about 9% of the car market in 2021. Strong underlying demand and EV manufacturers’ declarations of further increases in production imply that EV sales could reach almost 40% of vehicle sales annually by 2030,” the report’s authors also said.

EV sales in the 12 months to June 2022 rose by 36 percent, the report pointed out, with China’s EV sales soaring by 110 percent, and sales in North America rising by 27 percent. Sales in Europe inched up by 6 percent.

Driven by EV sales and other demand sources, lithium demand is forecast to expand by 40 percent over the next two years, the Office of the Chief Economist said, adding it would top 1 million tons of lithium carbonate equivalent by 2024.

Against this backdrop, shortages of spodumene, lithium hydroxide, and lithium carbonate are pushing prices ever higher. 

Spodumene prices are set to climb over the next year, with the price per ton hitting $3,280 per ton in 2023, from $2,730 per ton this year, before declining to $2,490 per ton in 2024.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News