Climate Changed
Australia’s Got a Lock on Supply of the Metal Used for EV Batteries
- Mining powerhouse to add 60% of new supply through 2022: CRU
- Nation could add processing plants for higher-value exports
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Ground zero in the global scramble for lithium is a small patch of northern Australia’s iron-ore rich outback, where work is accelerating to deliver the world’s next major mines to feed soaring demand from electric vehicle battery makers.
Almost 60 percent of supply from planned large projects through about the next five years will be added in Australia, enabling the top supplier of lithium to cement its grip on the market, according to CRU Group. The biggest mines due to enter production next year are both about 120 kilometers (75 miles) from Port Hedland, the gateway to markets in China.