Albemarle expects 40% Chinese EV market growth to drive lithium demand
Chinese lithium customers are not slowing orders and the country's stockpiles of cathodes and battery parts are decreasing.
Chinese lithium customers are not slowing orders and the country's stockpiles of cathodes and battery parts are decreasing.
The company posted net income of $1.13 billion, compared with a loss of $3.8 million the year-ago period.
The move has attracted skepticism as to whether Mexico can commercially extract its lithium.
Demand for lithium batteries in the United States is expected to grow more than six times.
Wesfarmers said the start of its lithium refinery has been pushed back to the first half of 2025.
It now targets 24,000 tonnes of lithium a year from its brine resource in Germany — 60% higher than its previous goal of 15,000 tonnes.
The property covers part of the Salinas formation, where Brazil's only lithium producer CBL has been mining spodumene for almost 30 years.
The objective for the Phase XII drill program was focused on converting the inferred resource within the Spark deposit to the indicated category.
President Lopez Obrador created LitioMX, formally known as Litio Para Mexico, by decree last August.
Lithium-rich countries, including Zimbabwe and Namibia, are trying to develop processing and refining industries.