The near-500% rally in lithium price is showing cracks in China

That deal is expected to end years of wrangling over ownership rights to Grasberg, the world's second-biggest copper mine.

Mineral Resources shares spiked on the news, closing Thursday 26.6% higher at A$15.76.

About 500,000 electric vehicles (EVs) were sold globally in 2016, a figure that is expected to jump sevenfold by 2022 - U.S. Energy Information Administration

Analysis shows oil consumption growing in coming decades, due to rising petrochemicals, trucking and aviation demand but meeting this growth in the near term means that approvals of conventional oil projects need to double.

The global energy-storage market will surge to a cumulative 942 gigawatts by 2040.

Mali joins lithium fray

German automaker is also considering involvement in battery production.

Budgets jumped about 19%, outpacing last year’s gain.

The battery-driven underground loaders create improved safety, reduced greenhouse gas emissions and lower operating costs.