keep up with demand
Other than those short-term issues, there are challenges for lithium to expand quickly enough in the coming years, supply skeptics could point to the Rio Tinto group, which is facing environmental protests in Serbia, and there are growing concerns about confidence in the sustainability of its saltwater-based production. South america.
“Customers understand that new supplies are very challenging,” said Tony Ottaviano, chief executive of Australian lithium mining company Liontown Resources Ltd, and his company has agreed to ship lithium to South Korean battery giant LG Energy Solutions as of 2024, when her project begins production as scheduled.
Read also: Depending on trees, a Japanese company seeks to develop a technology that competes with lithium batteries
For now, producers based on the metal are hoping to find some relief later this year from the current wave of price hikes.
“If capacity plans can be implemented by upstream companies on schedule,” Jesse Kay, vice president at EVE Motor, a unit of Chinese battery maker EVE Energy, said by email. In the middle of 2022, the prices of raw materials and batteries will remain constant…otherwise, they could rise even more.”