Polyus Gold H1 2011 gold output up 21% yr/yr

Value of the graphite, lithium, nickel, cobalt and magnesium contained in EV batteries is up 38% from the lows struck in January.

During this period, gold is usually just before forming a short-term top and starting the biggest decline within the final quarter of the year.

Consumers in price sensitive regions such as India had been finding it difficult to cope with gold's rally in recent months.

Once complete, the Guben converter will be the first of its kind in Europe, with expected annual production of 24,000 tonnes of lithium hydroxide.