IGO says lithium’s long term theme is intact. Meanwhile, lithium...

IGO says lithium’s long term theme is intact. Meanwhile, lithium producer IGO (ASX:IGO) gave a presentation at its investor day today. The company said the current market conditions are creating a great opportunity as global demand for lithium grows, but getting the cost positioning right is crucial.Lithium is a unique commodity that’s essential for all major EV battery chemistries, IGO added, and with heaps of R&D and capital already invested, it’s not likely to be replaced anytime soon.
The lithium industry will need to triple its size by 2035, which means around 80 new projects are needed—a massive challenge. While the long-term outlook for lithium remains strong with continued demand growth, the market is still quite immature, so expect a lot of volatility for the time being, said IGO.The current downturn might even make the next boom more pronounced, with high volatility likely until demand growth steadies.