“Lithium OPEC” in South America could drive away investment, says SigmaLithium CEO
The creation of a lithium cartel in South America could drive away investment, according to Ana Cristina Cabral-Gardner, CEO of Sigma Lithium Resources. in charge of expanding South America’s processing capacity, turning more of their mined lithium into batteries, and tapping into the electric vehicles manufacturing sector.
“There’s plenty of capital chasing lithium. So any exclusionary initiative tends to punish those who are in the initiative because if we end up doing such a thing as an OPEC, it’s born out of the assumption that we are the only ones who have it, which is a colossal mistake,” said Cabral-Garnder. However, looming supply from China, Australia and Chile and slower demand from Chinese manufacturers have broughtGoldman Sachs forecasts spot prices of lithium carbonate sinking to $34,000 a tonne in the next 12 months, from an average of $53,304 this year.“It’s a volume market, not a margin market. Just as iron ore, lithium is abundant, and low-cost producers will do incredibly well,” she said.
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