Growing industry optimism from higher lithium prices is a change from last year when funding for mines and processing plants dried up during the pandemic.

The pace of the digital transition will impact the intensity in the use of energy, as well as direct demand for metals used in manufacturing, Fitch says.

Metal recovery from recycling of lithium-ion batteries varies from 10% for copper to 80% for cobalt.

SQM said in December the capital would be used to fund a $1.9 billion, four-year investment plan, which aims to more than double its capacity to produce lithium.

Litus says its LiNC extraction solution is able to extract more lithium from brine sources than similar methods.

The Canadian company filed an application with the Provincial Mining Ministry of Catamarca for a drill permit for the Yergo lithium project.

The company started losing money in the third quarter of 2019 as lithium prices tanked amid oversupply.