The lowest cost Lithium producers that are vertically integrated are still making money at the current lithium prices, but the less efficient ones are not covering their costs now. Hence the bankruptcies, and the lurch that Tianqi is in now.
Automaker after automaker is announcing plans to add Battery Electric Vehicles to their lineups. There is no doubt that the Lithium demand is going to skyrocket over the next decade. There is a cost curve associated with bringing higher volumes of Lithium into production. Investments in mines need be made, conversion plants need to bought and commissioned, and eventually lower quality mining resources have to be put into play. All of these things add real production costs. Only fools will make these new investments to provide the Lithium the automakers must have to meet regulatory requirements if the price won't provide a return.
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