In summary, says Rio looked past the numerous hard rock lithium mines in its Australian backyard. They looked at all projects across the globe. They had a preference for Brine projects as they sit on the lowest part of the cost curve. Battery makers have switched preference from hydroxide to carbonate i.e. brines. Australian assets are becoming less attractive as many will not benefit from the US's Inflation Reduction Act. Other Lithium businesses are seeing this as a sign in the bottom of the Lithium price but will still take time to work through supply.
Low-cost brines will be the most successful especially those that benefit from the US's IRA. All bodes very well for Phoenix.
