BLUF
Half of all cars made by Volkswagen will be electric by 2030—therefore, the demand for lithium for batteries will increase, and Australia has vast reserves to meet that future demand.Summary
This article makes the following points:
Australia is the world's biggest exporter of lithium, a key component in batteries and lithium prices are climbing.
Pilbara Minerals, a lithium miner in Western Australia, is at 100% capacity with plans to open another mine later this year.
The largest lithium reserve in the world is south of Perth at Greenbushes.
Talison Lithium owns the mine.
The newest co-owner, IGO, and their CEO, Peter Bradford, said they are focused on metals critical to enabling clean energy.
Australia has been exporting lithium in the form of spodumene concentrate.
Later this year, IGO will become the first to export lithium hydroxide, a compound created from spodumene.
While the lithium sector is growing, iron ore remains Australia's leading commodity.
Western Australia produces a billion tonnes of iron ore each year.
Experts predict that the world will need one million tonnes of lithium each year to sustain the EV market.
References
Feb 2021 GRT Lithium mining in Australia – history, top locations and companies (pt 4)
May 2021 Stockhead The lithium sector’s second age is nearly here; these ASX stocks could open a gap on the pack
May 2021 Renew Economy Australian miners in $4 billion lithium play to create world’s 5th biggest supplier
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