- Lithium prices pegged to conservatively triple within seven years
- Estimated resource of more than 1.2 million tons of spodumene-bearing (lithium) pegmatite
- Announced results of 3-D model suggesting substantially greater lithium reserves
Lithium prices have more than tripled since 2015 and are showing no signs of slowing, given the globe’s increasing reliance on the portable power provided by lithium ion (Li-ion) batteries. Goldman Sachs has conservatively projected lithium demand to triple again within the next seven years. The projected surge in demand is based on broad ranging increases in consumer uses and the global advent of electric vehicles. Moreover, the estimates may be vastly understated and could greatly increase beyond projections.
A Wall Street Journal article revealed what may become an even greater driver of demand. Multiple states and municipalities, in conjunction with utilities, are revamping entire electric grids and utilizing high-density Li-ion energy storage batteries to power homes and…
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