ANALYSIS | Australia’s once in a generation lithium opportunity

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Reports and Analysis  |    |  Sep 21, 2022

ANALYSIS | Australia’s once in a generation lithium opportunity

Global critical minerals demand is expected to surge five to tenfold over this decade, underpinned by the accelerating energy transition. Global supply shortages are already evident, driving many key commodity prices to record highs. This has been compounded by two factors. Firstly, Putin’s invasion of Ukraine has seen sanctions against Russia, one of the key suppliers of many of these minerals. Secondly, China’s electric vehicle (EV) sales are up 110% year-on-year year to date August 2022, exceeding almost all global EV forecasts, yet again.

Supply chain security issues exacerbated by over-reliance on China and Russia have created a once-in-a-generation opportunity for Australia that is economically transformative, and on a scale that surpasses even our previous dominance in commodities. Australia is the world’s largest exporter of iron (55% global seaborne share), LNG (20%) and coal (30%), and we can now add lithium spodumene (79%) to this key list.