It is almost set in stone that governments worldwide will push out gasoline-powered vehicles. The European Union has set a 100% zero-emission car sales starting from 2035. California joined the trend with the same deadline. Even sooner, the UK has set a 2030 deadline.
By 2025, global lithium supply is set to outpace demand, according to BMI, Fitch Solutions research division. In their report, China alone, the world’s largest lithium processing nation, will have a 20.4% YoY lithium demand up to 2032, compared to only 6% supply growth. Having spread its mining operations from the US to Chile, Australia, and Brazil, Albemarle pushed the envelope this year. In August, the company started to build its direct lithium extraction facility in Arkansas. DLE technology tends to double the extraction rate over time as the next step of lithium extraction from brine, without evaporation.
Refinitiv analysts expected $4.44 per share, while ALB delivered $7.33 earnings per share. However, like the battery prices, ALB stock is down -23% year-to-date, rallying over the week at +5.7%. It is now considered a heavily oversold stock, trading at 89.3% underestimated fair value.) Project. It is one of the largest lithium deposits in the US, estimated at 100 million tonnes of lithium ore. Its byproduct is lithium hydroxide, set to become the leading resource for Tesla EVs.
To align itself with sustainability goals, Piedmont will use the innovative Metso: Outotec process, which reduces sodium sulfate waste. To further the goal of becoming the leading lithium hydroxide supplier in North America, Piedmont recently invested 19.9% equity in Vinland Lithium. Likewise, Livent has one of the lowest debt-to-equity ratios, at only 14.7%. In May, Livent announced the merger with Australian lithium miner Allkem. If finalized by the end of 2023, valued at $10.6 billion, the deal would create one of the world’s top five lithium mining operations.