Miningnews.Net hits the nail on the head...
The article requires subscription and given that I don't want to breach their copyright, I have summarised one of the key points of their article....
According to GXY announcements, the world currently uses 110,000 tonnes of Lithium each year. Even with electric cars, this is only forecast to increase to 300,000 tonnes a year by 2020.
Salar de Atacama (one salt flat in Chile) is estimated to contain between 7.5m tonnes and 35.7m tonnes.
With a projected demand of 300,000 tonnes per year by 2020, this one field already has enough Lithium to supply 100% or world demand for 25 years at the lowest resource estimate for the field and for 119 years if there is in fact a 35.7m tonne resource at Salar de Atacama.
http://www.miningnews.net/storyview.asp?storyid=1033278§ionsource=s88&highlight=lithium
(Subscription only)
In addition to the article, I should point out that Lithium (Li) at number 3 on the periodic table really does not qualify as a Rare Earth Element.
Feel free to ride this resource bubble for as long as you can hold your nerve, but be sure to get out before the crash....
DYOR
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