One thing is quite different to the iron ore situation in 2015, lithium demand will be experiencing exceptional growth over coming years due to mass adoption of electric cars globally, led by China.
Here's China EV penetration rate since 2016, from 1% to current around 33%. EVs will be just like smart phones to take over old brick phones for ICEs.
China Passenger Car Association just released some data today, forecast China annual new car sales for 2023 to hit a historical record level, being 29.5m units, NEV sales to be 8.6m for passenger cars. So adding commercial NEV sales, total NEV sales in 2023 will be reaching around 9.1m units. That exceeds the expectation.
It's expected China annual NEV sales in 2025 to fetch 17m units, to reach 32m units in 2030. That will require massive lithium just in 7 years. Only from EV, and only from China only. China will face same issue as iron ore, needs to import massive amount of lithium materials to meet the demand.
That's probably why Gina is happy to pay a top dollar for a large lithium project.
All imo.
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