The recent data from the Department of Industry, as reported by the AFR, underscores a remarkable and transformative shift in the Lithium sector that cannot be underestimated. Australian lithium exports are forecast to soar to $18.6 billion by the end of June this year, a staggering leap from the $1.1 billion recorded in the same period in 2020. Just a couple of years ago, in 2021, the department projected that by 2026, Australian lithium exports would amount to $5.4 billion. Today, they anticipate this figure to surpass $13 billion in 2026, and exceed $20 billion in 2027 and 2028.
This dramatic increase is not confined to Australia. Evidence of global interest and investment in this sector is unmistakable. For instance, South Korean conglomerates, such as battery manufacturer LG Energy, are significantly involved in the Canadian lithium boom. Recently, LG Energy made a significant commitment, acquiring nearly 8% of ASX-listed Green Technology Metals.
This information is of undeniable importance. It serves as a robust affirmation that our investment choices, particularly in GT1 and the broader Lithium sector, have been on the mark. We are not just riding a wave, we are riding a veritable tsunami of once-in-a-lifetime technological disruption. The Lithium sector is not just growing - it's undergoing a rapid, unprecedented transformation, akin to an 'S-curve' of innovation and growth. As such, it's clear that we've placed our bets wisely, and the future looks promising.
GT1 Price at posting:
72.0¢ Sentiment: Buy Disclosure: Held
