Keith Phillips of PLL, which is one of the few America-based lithium mining operations, recently told Yahoo Finance that there will be a “real crunch” to get enough lithium to meet worldwide EV targets.
“Yes, we’ll have enough, but not by that time,” Phillips said. “We do not have enough in the world to turn that much lithium production in the world by 2035.”
Lithium is an essential component of any EV battery and an average EV battery requires eight to 10 kilograms of the material found in lithium carbonate, the ore which is sought by miners.
The increasing demand for the metal has driven the price of lithium carbonate to almost double this year alone, and the International Energy Agency projects demand more growth — by at least 40 times in the next 20 years....<<<Read More>>>...
