The sourcing strategies, particularly for OEMs, is that they’re looking for industry leading, good practice companies to fulfil their lithium requirements in order to fulfil, say, decarbonisation goals, not just for the company, but for the country they’re operating in,” Perks said.
That’s all well and good, but Benchmark reckons the supply of such lithium is limited, noting that by 2026, lithium from recycled sources or mined by companies with industry leading or good ESG practices is set to meet 45 per cent of demand but drop to 35 per cent by 2030.
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