Mining Summit 2024: Major lithium miners are pushing for a more reliable spot price

Already a subscriber?Australia’s leading lithium miners want to establish a “coalition of the willing” to set up a trading exchange in a bid to stop price volatility and make the commodity more attractive to commercial bank financing.

Lithium industry finds common goal to reduce price volatility: Dale Henderson, CEO of Pilbara Minerals, Joshua Thurlow, of Mineral Resources, and Cameron Perks, of Benchmark Mineral Intelligence at the Mining Summit in Perth this week.“I think all of the industry participants struggle with this challenge given that the market is inefficient, and I think we’ll all be better served through pulling together and try and resolve it,” said Dale Henderson, chief executive of Pilbara Minerals.

“ pre-qualified buyers, pre-qualified sellers, and it was successful for them to create genuine price transparency.” “The challenge might be in the short term to get enough spot volume to put on to an exchange to make that happen,” he said. “If you get volumes, you still end up with a pretty lumpy data set that comes out.”MinRes will begin selling lithium on an auction platform this year after fetching a much higher premium for a sale than the prevailing spot price for the battery-making material.

Source: Digital Coin News (digitalcoinnews.net)

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