Good times are ahead for lithium miners as prices continue to surge
Good times are ahead for producers of lithium, the battery material that’s key to the electrification of transportation.
Albemarle Corp., the world’s No. 1 miner of the silvery, white metal, boosted profit forecasts for the year as lithium prices soar due to demand from electric vehicles.
The third biggest miner, Livent Corp., did the same.
The popularity of electric vehicles has driven prices for battery metals sharply higher, even sparking fears of shortages of materials like lithium, cobalt and nickel.
Lithium supplies are a concern in particular because there’s no substitution for it in electric vehicle batteries.
A gauge of lithium prices more than doubled in the first four months of this year after surging 280% last year.
Albemarle raised its profit and sales guidance for the full year, citing pricing in its lithium and bromine businesses.
The Charlotte, North Carolina-based company’s first-quarter earnings also topped expectations.
Shares jumped as much as 19% to $256.46 in after-market trading.
Livent almost doubled its 2022 earnings guidance on higher price assumptions for the year.
Shares rose as much as 31% to $28.62 Wednesday, the biggest intraday gain on record.
***BTW calculating surface rights fees is no big deal and should only take a few days so I expect the official mining licence announcement(already signed off by the Minister of Mines) to be announced very soon.
From last announcement:
'In accordance with DRC Mining Code, CAMI are required to calculate the surface rights fees payable by Dathcom and provide the Mining Licence following receipt of this payment.'
AIMO
- Forums
- ASX - By Stock
- AVZ
- Running discussion on SP
Running discussion on SP, page-70453
-
- There are more pages in this discussion • 13,664 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AVZ (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non Executive Director
Simon Kidston
Non Executive Director
SPONSORED BY The Market Online