Lithium Rush: The Key Metal Powering the EV Revolution

Lithium is integral to the majority of electric vehicle battery chemistries, making it one of the world’s most sought-after metals. Once it’s out of ground, who controls the supply of lithium and its refining? With the majority of major diversified miners not actively taking part in lithium extraction, who are the companies involved in this space?

On today’s show, Dana speaks with Ellie Gomes-Callus from BNEF’s metals and mining team, and Dr. Andy Leach from the energy storage team. Together, they discuss the different methods of lithium mining and their varying ecological impacts, why the major diversified miners are largely avoiding the extraction of this metal, and the relationship between lithium and different battery chemistries. They also consider whether sodium-ion technology poses a threat to lithium’s current dominance.

Complimentary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app.

Links to research notes from this episode:

1H 2023 Battery Metals Outlook: Shift In Demand Dynamics

Energy Transition Metals Production Scores: Australia Top

Sodium-ion Batteries Target China’s Mini EVs to Cut Costs

Rio Tinto Doubles Down on Lithium Mining With Rwanda Deal

Battery Metals Monthly - August 2023

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