Published reports say automakers are increasingly showing up at mining investor events, underscoring the growing popularity of battery-powered cars and the need for critical metals such as lithium needed to produce them.
The Canadian government said lithium demand is projected to increase 500% by 2050 due to the growing domestic battery manufacturing and future-oriented transportation ecosystem. After trading at near record highs in 2022, the price of lithium is expected to fluctuate this year but remain at levels that are supportive to new projects, at least in the short term, analysts have said.
However, governments in the U.S. and Canada remain challenged by the fact that in 2022, 79% of the world’s production of lithium is from Australia, Chile and Argentina.
Alkemy Capital Investments plc (LON:ALK, FRA: JV2) is focussed on developing projects in the energy transition metals sector. Alkemy’s wholly-owned subsidiary Tees Valley Lithium (TVL) is developing a state of the art lithium hydroxide plant at Teesside, UK. TVL is Europe’s largest independent and sustainable lithium hydroxide producer.