You have a point. Some counterpoints to that point could be1. If...

You have a point. Some counterpoints to that point could be
1. If you invest in a prospective mine. you are stuck with one somewhat speculative operation. The history of these types of mines are filled with failures, there is significant risk involved.
2. Lack of flexibility, when the next generation of battery technology comes along, with different commodity profiles.

If I was a car manufacturer I probably wouldn't want to come to a long term high risk commitment until I had to, and should price become an issue at some point where I was disadvantaged in the future, figure out the solution then. But I guess the visionaries who correctly predict these things far in advance become the big winners.