Global Lithium Supply on the Rise as Miners Creatively Prepare for Surging Demand Through 2030
USA News Group Commentary
Issued on behalf of Lithium South Development Corporation
VANCOUVER, BC, July 15, 2024 /PRNewswire/ — USA News Group – Though prices are down from previous highs seen in 2022, the lithium industry as a whole is witnessing major shifts so far in 2024. Within Q1 2024, the global lithium industry has delivered significant growth in reserves and resources, surging to 303.5 million metric tons, representing a 52.2% increase compared to the same period just three years ago. As lithium suppliers have begun to creatively shift how the metal is bought and sold, some have resorted to holding a series of auctions where potential buyers compete for cargoes via bids, skirting the norm of long-term contracts locked in at fixed prices. As the market braces for lithium demand’s expected growth of more than 40x on the way to 2030, miners continue to develop several lithium projects, including Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF), Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML), Lithium Ionic Corp. (TSXV: LTH) (OTCQX: LTHCF), Albemarle Corporation (NYSE: ALB), and Standard Lithium Ltd. (NYSE-American: SLI) (TSXV: SLI).
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