Australian Lithium Miners Post Quarterly Results as Fundamentals Remain Strong

After hitting all-time highs in 2021, lithium prices started to stabilise in 2022's first quarter.

China’s lockdown measures to battle COVID-19 have disrupted the supply chain and impacted domestic demand in recent weeks, but this is expected to be temporary, according to William Adams of Fastmarkets.

“The lithium market is very tight. We don't see that easing anytime soon,” he said during a recent webinar about risks in the battery metals market. “We think the underlying fundamentals and the trends are still very strong.”

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Australian lithium miners continued to move ahead with their projects during the year's third financial quarter.


CRU: Battery Metals in Focus, What to Watch in Pricing and Supply Chains

After 2021's big price increases for raw materials, all eyes are on what may happen next in the electric vehicle (EV) market ― the main driver of demand for battery metals such as lithium and cobalt.

EV sales had a stellar year in 2020, even as the world suffered through the brunt of the COVID-19 pandemic, and 2021 brought strong sales numbers as well.

“EV sales doubled last year alone, and we're expecting them to surpass 10 million this year,” Harry Fisher of CRU Group told the audience at the RIU Resources Round-Up in Sydney last week.

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At the recent RIU Resources Round-Up event in Sydney, Harry Fisher of CRU Group shared key factors battery metals investors should keep an eye out for.

Australia Battery Metals Update: Q1 2022 in Review

In the last few years, Australia has been positioning itself to take advantage of the green energy transition taking place globally, with plenty of projects focused on battery metals on the horizon.

Prices for raw materials essential to electric vehicle batteries have been on the rise since 2021, with many ASX mining companies in the lithium, cobalt and graphite sectors also posting gains year-to-date.

Here, the Investing News Network looks at what happened so far in 2022 and what could be ahead for Australia’s battery metals market in the second quarter.

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What happened in the battery metals market in Australia in the first quarter of 2022? Find out here.

Fraser Institute: Western Australia Ranks as Most Attractive Mining Destination

The Australian state of Western Australia has become the new top destination for mining investment, overtaking Nevada to claim first place, according to Canada’s Fraser Institute.

This year’s Annual Survey of Mining Companies ranks 84 jurisdictions around the world based on geologic attractiveness (minerals and metals), and government policies that encourage or deter exploration and investment.

Western Australia, which accounts for about 37 percent of the world’s iron ore production, moved up from fourth place in 2020 to lead the 2021 list; it's followed by the Canadian province of Saskatchewan, which climbed from third to second place, and Nevada in the US, which fell from the top place previously.

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Western Australia has climbed to first place in the Fraser Institute's annual report, up from fourth place the previous year.

Lake Resources Inks Lithium Deal with Ford, Shares Surge

Australia’s Lake Resources (ASX:KLE,OTCQB:LLKKF) kicked off the week by signing a deal with US carmaker Ford (NYSE:F) for a potential lithium offtake from the Kachi project in Argentina.

The non-binding memorandum of understanding is for approximately 25,000 tonnes per year of lithium, an essential raw material used in electric vehicle (EV) batteries.

“Both Lake and Ford see this as an opportunity for a potential long-term agreement with the ability to scale up environmentally responsible production and participate in Lake’s other projects to ensure high-quality lithium products are available to Ford,” Steve Promnitz, Lake’s managing director, said.

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The lithium junior saw its share price spike more than 14 percent following the news.

Australian Lithium Producers Post Half-year Results as Prices Soar

Lithium prices have been on the rise for the past year, hitting all-time highs in 2021.

Continued strength is expected with demand set to outstrip supply in the foreseeable future, and ASX-listed lithium producers are seeing revenue increases on the back of this strong market.

In 2022, prices for spodumene are forecast to rise to an average US$1,185 per tonne, up from around US$720 in 2021, while lithium hydroxide is expected to rise from US$7,300 per tonne in 2020 to US$18,940 in 2023, according to a December report from the Office of the Chief Economist.

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In late February, most Australian lithium miners reported their half-year results, sharing the news in a market where prices for the commodity are on the rise.

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