Eramet in talks with European carmakers over Argentina lithium plan – CEO

The Australian company has been unable to get federal permits because public lands near the site are home to the endangered wildflower Tiehm’s buckwheat.

Globally, the industry will need as much as $42 billion of investment by the end of the decade in order to meet demand, according to Benchmark Mineral Intelligence.

The world's largest lithium producer is evaluating just how it can partner, invest and develop a battery recycling business.

Second-quarter lithium sales nearly tripled due to rising prices of the electric vehicle battery metal.

Both companies had announced the broad brushstrokes of the deal last week.

The company reported second-quarter net income of $60 million, compared with $6.5 million in the year-ago quarter.

The best results were 26.4 metres at 1.01% Li2O and 3.7 metres at 2.61% Li2O.

The announcements come as major automakers look to scoop up battery metals in the face of a looming shortage.

The binding supply deal is the second in less than a month for ioneer.