Rio hints a three-year lithium price boom may be over as surging supply coincides with mild growth in electric vehicle sales. But longer term, Rio is still keen.
is coming to an end, but unlike its old rival BHP, the company says predicted supply shortages will ensure strong “market fundamentals” for the battery mineral longer term.and Canada while it tries to use a new type of resin to extract lithium from briny groundwater at Argentina’s Rincón project.
Morgan Stanley said Chinese lithium carbonate – arguably the global benchmark lithium price – was fetching $US19,646 a tonne on October 12, down from an average of almost $US32,000 a tonne in the June quarter. Chinese lithium carbonate prices are down almost 70 per cent since the start of the year. BHP is not alone; Glencore chief Gary Nagle also declared this year he did not want to get into lithium mining because it was an abundant mineral.
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