Metals and Mining - Lithium

With a global market value of USD 8.3 billion as of 2023, lithium is considered “white gold” for the ongoing clean energy transition due to its usage in rechargeable batteries for electric vehicles and electronic devices. Driven by increased demand from the energy transition, global lithium production is expected grow by CAGR of 13.9% to 512.9 kilotons by 2030 with Australia and Argentina as major contributors to this growth. China, on the other hand, controls over 55% of the global processing of battery-grade lithium which upon processing is shipped overseas to make battery components. In December 2023, lithium carbonate prices dipped below CNY 100’000 per ton—its lowest since August 2021.