Lithium’s next big risk is grand supply plans falling short. battery lithium mining
Some bearish lithium-watchers say fast-growing supply, rather than dizzying demand, will be the decisive factor in 2023. Five analyst forecasts reviewed bypoint to a much more balanced global market after clear shortages in 2022, while BYD Co., China’s top EV seller, is counting on a lithium surplus.
At stake is the pace at which the world’s vehicle fleet adopts battery power. Lithium-ion battery costs rose last year for the first time in the EV era, according to. Elon Musk bemoaned lithium’s “insane” rally and said high raw material costs were among Tesla Inc.’s biggest headwinds.There’s broad agreement that lithium supply is heading for a major increase in 2023 as a wave of expansions or new projects get up and running.
“I think you’re going to see a short dip in spot prices in 2023 but I don’t see that as a problem,” Joe Lowry, founder of advisory firm Global Lithium. “If we were talking five years ago today, the biggest issue that lithium industry had was lack of investment. Now the most significant problems are permitting and project execution.”
But it’s also a controversial topic, with some specialists saying it’s costly and environmentally harmful to convert in large volumes for battery use.
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