In early September 2023 Mr Lithium (ie Joe Lowry) presented in Australia. In one slide which he took from Cannacord he looked at the cost curve for lithium producers in 2025. I sourced that slide from Cannacord (see below) which included the cost curve in 2022, 2025 and 2030 for quite a few lithium projects around the world. Interestingly it did not include many WA projects ( eg it excluded PLS, Greenbushes, Bald Hill, Liontown and Mt Marion). It also excluded Sigma’s project.
It is interesting that in 2030 many more lithium projects will have a cost below $US10k but in 2022 and in 2025 only half the production has a cost below $US10k and half have a cost above $US30k in 2022 and half a cost above $US20k in 2025.
Assuming the figures accurate or close to, then a very large proportion of lithium producers in the world are currently losing heaps of money at current LCE prices which I believe are around $US12-13k. Logically, the current low lithium prices are unsustainable and if they continue for too long eg past 2024 then we may see a significant reduction in supply and some potential projects may be shelved.
LRS is in a good position being in the lowest cost quartile along with Sigma for hard rock projects.
LRS General Discussion, page-16742
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