Soaring prices for lithium are prompting the electric-car industry to find new ways to secure the crucial battery ingredient, creating new risks. But dealmaking under duress makes miscalculations more likely, says KatrinaHamlin
Stellantis has invested A$76 million to become the second-largest shareholder of ASX-listed Vulcan Energy Resources, the lithium miner said on June 24. Vulcan will use the proceeds for its already planned expansion of its brine field in the upper Rhine valley in Germany. The field already produces geothermal energy, which will be used to mine lithium hydroxide with a net-zero carbon footprint.
Australia's Liontown Resources on June 6 signed an agreement with Tesla to supply lithium spodumene concentrate to the electric-car maker for five years beginning in 2024. The miner said that contracts with Tesla, LG Energy Solutions and other clients would cover 85% of lithium spodumene concentrate produced from its Kathleen Valley site in Western Australia.
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