It has signed a letter of intent with Koch Minerals & Trading for the purchase of lithium chemical offtake and the procurement of key raw materials.

Looking back on what gave investors strong returns in 2021, it was the year of industrial and energy metals.

Rio is reviewing the legal basis for the decision and could sue Serbia as it tries to salvage the $2.4 billion project.

“The most likely outcome is an environment where commodity prices can settle from the extraordinary highs of 2021. But there are plenty of risks to this outlook," says Wood Mackenzie.

Chinese lithium carbonate prices rose to a fresh record on Monday, as data showed a 35% month-on-month jump in electric-vehicle registrations in December.