Lithium producer, Ana Cabral-Gardner, co-chairman of Canada’s Sigma Lithium, said: “The race is on to meet increasing demand for high-quality lithium that is environmentally produced at a low-cost before a potential deficit for the mineral.
“The world is accelerating efforts to go green faster than the mining industry is able to sustainably produce battery quality lithium.
“UK consumers want their products to be green from extraction to production and distribution – not many mining companies can deliver this right now either.”
Scaling the small lithium-producing industry will require tens of billions of dollars in capital.
This is likely to result in a lithium market shortage by 2023 to 2024 given that lithium demand should grow at a 20% compound annual growth rate through at least the middle of this decade.
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