News Formal

Business Maverick: Insatiable lithium demand fuels investment boom in Australia

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 84%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Executives from Australia’s lithium industry were inundated by bankers and brokers at the Diggers & Dealers Mining Forum in the outback town of Kalgoorlie this week, talking up deals to secure some of the estimated $42 billion worth of investment needed...

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Tech Fuels Stock Surge as Earnings Buoy Sentiment: Markets WrapUS stocks rose as corporate earnings continued to roll in and economic data came in better than expected. Treasuries declined after hawkish comments from Federal Reserve officials made it apparent that a policy pivot is unlikely.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Oil Falls Below $90 for First Time Since War as Demand SlowsOil extended declines to the lowest in almost six months as weaker US gasoline demand and recessionary fears weighed on markets.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Singapore joins green finance bonanza with 50-year bondThe city state began marketing its first green bond, choosing a 50-year tenor as it joins countries from South Korea to Egypt looking to fund the battle against climate change.
Source: dailymaverick - 🏆 3. / 84 Read more »