London Metal Exchange and Fastmarkets to set lithium price benchmark
The exchange will work Fastmarkets to provide the reference price lithium, a key component in the batteries that power electric vehicles and high-tech devices.
The exchange will work Fastmarkets to provide the reference price lithium, a key component in the batteries that power electric vehicles and high-tech devices.
According to Sweden's Deputy Minister of Foreign Trade and Promotion, the country has become lithium-thirsty due to an increase in demand for electric cars.
The find potentially curbs the nation's reliance on imports of the material used in electric vehicle batteries.
The race by Tesla, Samsung and other technology giants to secure supplies of lithium is creating a unique chance for two global mining superpowers to reap more value from their natural resources.
Samples returned values of up to 373 mg/L lithium, and up to 8,001 mg/L potassium.
The Chilean lithium producer expects demand to grow about 17% in 2019 to at least 315,000 tonnes, compared to the less than 260,000 tonnes it totalled last year.
Company experts have developed a technique for removing impurities from the lithium phosphate they produce from waste.
The president of Global Lithium dismissed as a 'myth' the possibility of the markets being flooded with lithium chemical.
Lithium Americas posted a first-quarter net loss of $4.5 million, compared with $4.6 million in the year-ago period.
Historically the company has supplied the white metal for use in greases and other industrial products.