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Mad Scramble for Lithium Stretches From Congo to Cornwall

  • AVZ Minerals has risen about 1,300 percent this year
  • While demand is expected to surge, lithium is fairly abundant
Lithium ore

Lithium ore

Photographer: Carla Gottgens/Bloomberg
Updated on

For evidence of just how hot battery ingredient lithium is right now, look no further than Australia’s AVZ Minerals Ltd.

A penny stock until a few months ago, the mining hopeful has surged about 1,300 percent this year. The proposition: recasting a remote, century-old tin mine in the Democratic Republic of Congo as a supplier of lithium needed to power electric cars.