Business Maverick: Insatiable lithium demand fuels investment boom in Australia

In the rocky deserts of Western Australia, a handful of little-known and once-shunned miners are suddenly in vogue as the electric vehicle industry clamours for a metal it can’t do without.

“I don’t want us to come across as self-indulgent because we have immense respect for our customers, but the simple fact is it takes five to eight years to bring greenfield supply online in tier-one jurisdictions,” he said. That transaction followed Liontown’s earlier so-called offtake deals with Tesla Inc. and South Korean battery producer LG Chem Ltd. It also came a week after European carmaker Stellantis NV took an equity stake in Australian lithium miner Vulcan Energy Resources.

Pilbara’s shares traded at 13 Australian cents then, and have since risen to more than A$2.85, giving it a market value of about $5.8 billion. Shares in Liontown have risen about 76 times since early 2019, to a value of around $2.2 billion.

Source: News Formal (newsformal.com)

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