The mismatch in demand and supply was likely to boost prices, which Jimenez said he did not believe would fall below $13,000/mt, which was the incentive price level to develop new, marginal, high-cost projects.
He said that, if the market's narrative remained the same as it was today, with demand exceeding supply, prices could go as high as $30,000-40,000/mt over the next decade, although he forecast the prices to be above $16,000-17,000/mt, saying that $20,000/mt would probably be the average level over the decade.
"This is a price where many resources that a few years ago nobody would have thought of developing, but they are now economically viable to develop and this will introduce a change to the industry," Jimenez said.
According to S&P Global Platts assessments, seaborne lithium carbonate prices were at $21,900/mt and lithium hydroxide at $22,100/mt, up 245% and 146%, respectively, since the start of the 2021.
https://www.spglobal.com/platts/en/market-insights/latest-news/energy-transition/101421-lithium-to-remain-strong-amid-lack-of-new-supply-lme-week-sustainability-panel
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That's just a short snippet from the article to save a big text wall - But Daniel Jimenez is really getting himself out there at the moment. Imagine our sweet sweet FS numbers if we can get this resource upgrade + update our price towards somewhere around the 16k-17k level like he mentions. It gives me confidence knowing he is on the board with a lot of options locked and loaded as he really has a prominent position within the industry.
Huge night overseas again last night - let's see if today's the day we continue on our journey upwards.
