Lithium price surge fuels mining innovation
Demand from electric vehicle manufacturers and potential to provide batteries for renewables-powered grids ensures demand remains high
Lithium prices reaching an 18-month high has spurred investment in new methods of mining that are going to shake up geopolitics and revitalise Europe, according to David Archer, CEO of Savannah Resources. “The immediate effect of the rise of lithium prices is that it improves equity capital market’s sentiment to lithium production,” Archer tells Transition Economist. “There is a flood of capital being offered to producers, which is good, because there is a lot of catching up to do and we are looking at a spike in demand.” Archer predicts that lithium production and the electric vehicle (EV) manufacturing and supply will supercharge Europe’s economy. “It has huge benefits economically and pol
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