From * today
Highlighting just how important lithium is becoming, Western Australia has declared in its latest State Budget that the battery metal will overtake fossil fuels as its second-most valuable resource.
The state is poised to collect about $910m in royalties from lithium in the 12 months to 30 June 2023, which isn’t all that far away from the $1.3bn that it expects to receive from the North West Shelf liquefied natural gas plant for the same period due to high international gas prices.
While it must be noted that lithium prices were also elevated in the first half of the 2023 financial year before dropping sharply, WA believes that in the 2024 financial year royalties from the NWS will more than halve to $660m.
In complete contrast, the state’s Department of Treasury commented that the growing adoption of electric vehicles meant that there was only one way for lithium to go – up.
From * todayHighlighting just how important lithium is...
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