![]() ![]() The lithium explorer also made a strategic investment of A$4.6 million in Kairos Minerals over the Roe Hills Lithium Project, adjacent to its Manna Lithium Project. Global Lithium Resources Ltd (ASX:GL1) closed out a busy quarter ended June 30, 2023, with two major exploration campaigns at the Manna Lithium Project and the Marble Bar Lithium Project in Western Australia. A look at select ASX lithium stocks Global Lithium Resources Let’s take a look at what some of the Australian lithium miners were up to during the June quarter. Source: OCE June 2023 Resources and Energy Quarterly. The OCE added that the increase would be driven by lithium prices nearly tripling and the volume of spodumene exports increasing by 44%. In the year ending June 30, 2023, Australia’s export earnings from lithium are forecast to more than quadruple to A$19.5 billion from A$5.3 billion in financial year 2022. “(As) sources of global lithium supply continue to diversify amid international efforts to strengthen critical minerals security, this provides further opportunities for investment in Australian lithium assets.” “Project expansions and new mines will increase Australian lithium production, with a growing share of mine output refined domestically to produce lithium hydroxide,” the OCE said Production of spodumene from Australian mines is forecast to rise from 3.2 million tonnes in the year ending June 30, 2023, to 3.4 million tonnes by 2024 and to 4.0 million tonnes by 2025, Australia’s Office of the Chief Economist (OCE) said. It also has the second-highest lithium ore reserves in the world. Top lithium extractorĪustralia is the world’s largest producer of spodumene, the mineral for lithium carbonate and lithium hydroxide, which in turn are the raw materials needed to make lithium batteries. In order to meet the shortfall in demand, an additional 1.42 million tonnes of annual LCE capacity must come online by 2030.īy then, McKinsey projects that lithium supply will meet, and even surpass demand, if the additional supply potential is realised. This compares to the present annual supply of 750,000 tonnes of LCE and 890,000 tonnes from planned and probable projects by the end of the decade, hardly enough to satisfy the 26% annual growth projected for passenger EVs through 2030 alone. Supply and demand disparityĪccording to McKinsey & Company, global lithium demand will reach 3.06 million tonnes of lithium carbonate equivalent (LCE) by 2030 from the current 720,000 tonnes, a growth of 20% annually. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation.ĭemand for lithium, the critical mineral driving the clean energy transition, is predicted to rise rapidly through to 2030.įor now, the strong growth in electric vehicle (EV) sales is the primary reason behind the surge in demand for the metal that has earned the moniker of ‘white gold’.īut as the world speeds up the shift to renewable energy beyond EV, Australia’s lithium miners are set to capitalise on their advantage in the booming industry. Proactive will on occasion use automation and software tools, including generative AI. The team also has access to and use technologies to assist and enhance workflows. Our human content creators are equipped with many decades of valuable expertise and experience. ![]() Proactive has always been a forward looking and enthusiastic technology adopter. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. This is content that excites and engages motivated private investors. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. Proactive leads the world in up-to-the-minute, multi-media news provision, events organisation, investor relations management and investor research ![]()
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