*Found this Old Thread and decided to revive it :D Eye on...

*Found this Old Thread and decided to revive it

Eye on Lithium: Australia downbeat on lithium price in 2024, but upbeat on demand

All your lithium news, Friday, July 7.

The famously conservative federal government says that while the value of Australian lithium exports is set to decline from its 2022–23 record, the long term outlook for lithium is that consumption will grow rapidly.

In the latest Resources and Energy Quarterly, Minister for Resources and Northern Australia Madeleine King said the value of lithium exports in 2022-23 almost quadrupled from the previous financial year, to over $19 billion in 2022-23.

It predicts value will decline to around $15 billion in 2024-25 as prices moderate.

But it also expects demand to continue growing at a rapid rate.

“In lithium carbonate equivalent (LCE) terms, global lithium consumption is forecast to increase from 814 thousand tonnes (kt) to 1,350 kt over the outlook period (from 2022 to 2025),” the report stated.

“Lithium demand for rechargeable batteries continues to grow at a much faster pace than other sources of industrial demand for lithium.”

Battery demand for lithium is expected to maintain high growth, increasing by 22% per year over the 3 years to 2025.

Australia, Indonesia to cooperate on battery metals

Meanwhile the Indonesian and Australian government’s released a joint statement at their annual leaders meeting this week regarding their cooperation in the battery materials sector.

Indonesia aims to be in the world’s top five electric vehicle battery producers by 2040.

To achieve this, it needs to secure access to other minerals, including lithium, of which Australian mines supply around half to the world.

In line with its commitment to the Paris Agreement, Indonesia has set a pretty ambitious target for its vehicle industry.

By 2025 it wants at a minimum of 20% of the cars it produces to be EVs.

That equates to about 400,000 cars.

Indonesian government programs such as the Low-Cost Green Car incentives and Low-Carbon-Emission Vehicle regulations are attempting to drive this transition.

Australia and Indonesia are expected to sign an MOU that will fast track co-operation on the global battery and electric vehicle sector with this week’s communique including a commitment to pursue this goal.








Food for thought

Frank