Lithium industry looks to Australia for refining, not just mining.
Companies want to reduce shipping waste and avoid China by investing in refining facilities in other countries, including Australia, where about half of all lithium is mined
By Yusuf Khan
“Lithium companies are looking to refine the crucial battery metal in Australia, where much of it is mined, in an effort to reduce shipping waste and develop new supply chains that bypass China.
The market for lithium—used in the production of electric batteries—is tight and likely to get tighter. Demand this year is expected to be 910,000 metric tons of lithium carbonate equivalent, or LCE, exceeding the 900,000 tons in supply. Benchmark Mineral Intelligence, which tracks the global battery supply chain, estimates that by 2030 around 2.7 million tons of LCE will be required annually, outstripping supply by 300,000 tons.
Around half of all lithium is mined in Australia, mainly in the mining-friendly jurisdiction of Western Australia. Most is shipped to China in a raw form called spodumene, which is about 6% lithium. Chinese companies refine it into lithium sulfate and then process it into the lithium hydroxide used to make cathodes for batteries”.
Everyone can have their opinion.
My own is that battery powered cars were fun to have as a kid! Today’s new trend of electric cars powered by lithium batteries is not a future for me. It requires far too much energy that comes from other sources such as oil fuel and coal, which are not environmentally friendly. The host should wait for fusion power or water-powered engines, which will be significantly more climate friendly. Elon Musk, is a man who will continue to surprise the world with news, as he uses his fortune for development projects. The world’s politicians should follow in his footsteps.
Thanks for reading my post.
I will be back soon.
#Curt #Windmush
