Just in Stock...h.e.a.d "We’ve seen any number of wild and woolly projections on lithium demand out to 2030 and beyond.
Sprott sees a CAGR of 16-20% between now and 2030, something that equates to a growth of around three times on 2022 numbers.
But some industry figures, including the world’s biggest lithium producer Albemarle, believe demand by the end of this decade will be even higher.
Conducting a flying tour of WA this week, where Albemarle is overseeing a more than US$1.5b construction program to turn its 50,000tpa lithium hydroxide plant in Kemerton into a monster 100,000tpa chemical factory, expected to be the largest outside China.
Having only completed the first two trains at the project near Bunbury last year, what prompted Albemarle to jump early at the plant, expected to produce enough battery grade lithium once fully ramped up to supply 2.4 million EVs a year?
A nearly 500% increase in lithium carbonate equivalent demand in just eight years.
“The decision reaffirms our commitment to our operations in Australia and further points to the confidence we have in our local team at Kemerton to expand from two processing trains to four,” Albemarle boss J. Kent Masters said.
“Albemarle forecasts a nearly five-fold increase in global lithium demand from 800,000 million tonnes in 2022 to 3.7 million tonnes in 2030, and the business is acutely aware of the importance of Australia in helping to meet that demand.
“Looking to the future with respect to technology, we are focused on refining process technology within our core business and on the development of new advanced materials –
particularly in batteries, and battery materials recycling.”"
And also in same article about Greenbushes.
"The mind-boggling set of numbers show just how special the Greenbushes mine is.
IGO’s stake is a touch under 25%, but it delivered a share of net profit of $1.604b and dividends of $1.184b. A lot of that, it should be noted, was down to an extraordinary price surge in late 2022 that may never be recaptured.
At EBITDA of $9.514b on a 100% basis, the Greenbushes mine delivered earnings almost as strong as BHP’s whole copper division, which includes Escondida, the world’s biggest copper mine — though copper prices fell from record highs over the course of FY23.
