Rising demand for Lithium and Rare Earth Minerals coupled with discoveries in Australia is good news for the Australian Mining Industry.
In good news for the Australian mining industry, miners produced 55,000 tonnes of lithium in 2021, a 28% increase from the 39,700 tonnes of lithium produced in 2020. This is approximately half of global production.
Lithium demand has reached sky-high levels as the demand for EV batteries has continued to increase exponentially, leading to increases in prices. Lithium carbonate prices in China passed 300,000 yuan per tonne in January, and have now escalated to 382,500 yuan per tonne.
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