It's the modern gold rush. Around the world, the most sought-after mineral isn't a precious metal, nor is it oil and gas…it's lithium.
Lithium, or "white petroleum" as some call it, has become a crucial element in today's high-tech economy.
Demand for lithium is soaring, and producers are frantically searching for new sources of supply. Prices have doubled in the last two years, rising as high as $16,500 per ton.
The biggest reason for the surge? The immense demand for lithium-ion batteries, needed to power electric vehicles (EV), cell phone and wind turbines.
As the Wall Street Journal reported, the surge in demand has pushed lithium miners to new areas in search of rich deposits.
Traditional production of lithium and lithium-ion batteries is concentrated in a few key areas, but with demand set to increase dramatically in the coming years, investors are searching for creative new ways to increase global supply...
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