*Ditto, doesn't he realise that,
“There’s also a possibility that not enough lithium can be mined, then it could risk a slower EV roll-out.”
Prices are climbing across the supply chain.
I / We should send a copy / link to these articles below in the hope of him pulling his finger out as,
Lithium Jumps Again as Miners Can’t Keep Up With Battery Boom
Lithium prices extended their yearlong rally as surging demand spurs a shortfall of the key battery material.
Prices have more than doubled in the past year, according to a Benchmark Mineral Intelligence index of lithium carbonate and hydroxide.
Demand for the materials used in electric cars and renewable-energy storage has soared and, while miners are seeking to boost supply, there’s not enough to meet consumption.
“The financing for lithium projects is still too little, too late,” said Cameron Perks, a Melbourne-based analyst at BMI.
“The market deficit is already occurring.”
A lengthy slump since 2018’s peak meant investment in the sector slowed, while the pandemic has exacerbated supply constraints.
On the demand side, the green energy transition has accelerated the adoption of electric vehicles and global lithium consumption is estimated to grow five fold by end of this decade, according to BloombergNEF.
“As prices increase now, there will be unknown yet-to-be-announced projects and expansions that will help to increase supply to meet demand.
That is almost a certainty.
What is not certain is just how many unknown projects there are out there,” Perks added.
“There’s also a possibility that not enough lithium can be mined, then it could risk a slower EV roll-out.”
Prices are climbing across the supply chain.
Pilbara Minerals Ltd.’s second auction of spodumene concentrate -- a partly-processed form of the material -- attracted a top bid of $2,240 a ton for a cargo of 8,000 tons, up from $1,250 in its inaugural tender in July.
China lithium carbonate has almost doubled in just two months, and lithium hydroxide is up more than 70% in the period, according to Asian Metal Inc. data.
That’s pressuring battery makers, who are also facing higher prices for other key inputs like cobalt and copper.
After a decade of year-on-year battery price declines -- an important measure in gauging when EVs will cost the same or less than gas vehicles -- there’s now a chance that trend will stall as raw material costs climb, according to BNEF analyst James Frith.
About 40% of the cost of a battery is tied to commodities that have rallied.
www.bloomberg.com
Pilbara Minerals does not stop
It’s been a good few days for the lithium bull, which is commissioning the Ngungaju plant it picked up in the buyout of Altura’s Pilgangoora lithium project last year, adjacent to PLS’ own world class Pilgangoora mine.
Coming hot on the heels of a major resource and reserve upgrade, the new plant will add 180,000-200,000dmt to Pilbara’s output once fully commissioned in mid-2022.
The miner confirmed FY2022 production guidance across the entire Pilgangoora project at 460,000-510,000 dmt this morning.
Its previous standalone plant had a 330,000tpa rate, and is ramping up to 380,000tpa, with Pilbara expecting to be able to ramp up to a runrate of 560,000-580,000tpa by the end of the financial year.
It means the company will be able to sell even more uncontracted concentrate into the Battery Material Exchange auction platform that true a top of the market sale in September of US$2240/t.
“With market conditions remaining extremely buoyant and the spodumene concentrate market continuing to show signs of being extremely short of supply, the Ngungaju Plant is expected to be capable of delivering uncommitted tonnes into the emerging spot market including through our BMX platform,” PLS managing director Ken Brinsden said.
“We think that will be a very positive development for the market overall, increasing traded volumes, transparency and ultimately supporting the growth of the lithium raw materials supply chain globally.”
Hello - Hello DRC are you receiving Me
There's a Massive Window of Opportunity here
With Tin & Li Train now leaving the Station
And a Big Hungry CAT to Feed
Time to get onboard
Toot Toot
Frank
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