Investors are betting big on a lithium comeback less than three years after prices of the metal used in rechargeable batteries collapsed from a record price and sent miners reeling.
Producers of the metal that had been shunned amid supply overhangs and plateauing demand raised almost $3.4 billion in equity offerings in the Americas so far this year, data compiled by Bloomberg show.
A lithium price index compiled by Benchmark Mineral Intelligence jumped 32% this year through February, after plunging 59% from mid-2018 to mid-2020. The metal reached an all-time high in May 2018.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.