I might have been listening to a major bull or misremembered.
https://www.forbes.com/sites/neilwinton/2021/11/14/lithium-shortage-may-stall-electric-car-revolution-and-embed-chinas-lead-report/?sh=37d9802146ef"
The International Energy Agency (IEA) has estimated that the growth in EVs could see lithium demand increase by over 40 times by 2030."
BMI puts it at a likely quadrupling of 2022 production required, in 2030:
https://www.benchmarkminerals.com/membership/analysis-lithium-industry-needs-42-billion-to-meet-2030-demand/The lithium industry needs $42 billion of investment if it is to meet 2030 demand, according to Benchmark analysis.
In 2030, Benchmark forecasts lithium demand will reach 2.4 million tonnes LCE (lithium carbonate equivalent). This is almost 1.8 million tonnes more than the 600,000 tonnes of lithium Benchmark forecasts will be produced in 2022.
Benchmark estimates that the lithium industry needs $7 billion of investment each year from now until 2028 to meet the 2030 lithium demand.
However you look at it, there will need to be dozens of new mines operational in the next decade to keep up with demand.
I hear you guys on the shorts front. The bears are still firmly in control, and don't look to be lessening their grip on the whole sector just yet.
Going by the delayed figures on Shortman, we have around 130m shares being shorted, around 7% of our total SOI. That's a hell of a lot and indicates there's not going to be a let up in the short term:
https://www.shortman.com.au/stock?q=CXO
