Lithium: An Unprecedented Growth Opportunity
This remarkable metal is indispensable in the production of lithium-ion batteries, powering essential devices such as laptops, mobile phones, electric vehicles, and pacemakers. Moreover, lithium’s ability to form alloys with magnesium and aluminium makes it crucial in the manufacturing of armor plating, aircraft, and trains.
The wide-ranging uses of lithium exemplify its significance in driving technological advancements and enhancing multiple sectors.
Lithium is also used in glass products, air conditioning, industrial drying systems, and lubricants for high-temperature components. Lithium hydride, in particular, plays a role in storing hydrogen as fuel.
Five year price chart
Lithium Demand Continues to Increase
Lithium demand is projected to skyrocket by 2030, driven by the rapid adoption of electric vehicles and the increasing need for large-scale energy storage solutions to support renewable energy integration and grid stability.
- Biden administration aiming for 50% EV sales by 2030
- Canada aiming for 100% EV sales by 2035
- Global policy shift towards renewable energy sources, which heavily rely on Lithium