The ups and downs of the gold price are a perennial source of fascination. But lately the focus has turned to ‘white gold’ or lithium.
This metal is the critical component of the lithium-ion batteries used in laptops, phones, electric vehicles and in the storage of energy produced by renewable power projects.
Such is the clamour for white gold that its price soared by 548 per cent to $41,400 per metric tonne in 2021. It is now $54,000, and Citigroup predicts it could reach $60,000 this year.
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.