Worldwide demand is growing at a pace of 200,000tpa of LCE, which is a growth of 1,600,000tpa of Spodumene, every year.
PLS growing from 680,000 tpa to 1,000,000tpa will only satisfy 320,000tpa of the 1,600,000tpa it needs to grow for one year. Note we need to grow this 1,600,000t every year (so PLS’ upgrade only satisfies it for 1 year!), just to keep up with demand.
In other words, we need 2-3x PLS sized mines coming online everyyear just to keep up with the demand. I can’t identify any PLS sized mines being drilled/ built at the moment. LTR came close, and that’s just one mine, look how in demand they are.
I’m sure betting on a lithium shortage for the foreseeable future.
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