Could be, a large OEM's like VW could invest 1% ($500 mill) of their EV investment budget of ($50 bill) into a mine to secure supply for ~20 years. However, they need to build their own conversion capacity first or partner with a converter and expand exponentially.
Do we again see Li battery chems at $25k pt before that happens, maybe not, but high teens very probable, because conversion capacity ex-China is not yet under construction, not in a meaningful way.
Reliant on China for next few years if they pull the finger today.
Good News & Bad News, page-7294
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