EV sales accounted for 9.4% of new vehicle sales in China but just 2.3% in the USA. Last year, Mining.com launched the EV Battery Metals Index, a tool that tracks the value of lithium, cobalt, nickel, and other battery metals flowing into the global EV industry at any given point in time. Jiangxi Ganfeng Lithium, the world's largest lithium mining company with a market capitalization of $19 billion, has predicted that lithium prices will continue to rally as lithium production struggles to keep up with massive demand for EVs. That's mainly thanks to the postponement of lithium project expansions in South America--due to previous demand forecasts as well as the impact of the pandemic. The company's Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties for use in lithium batteries for consumer electronics and electric vehicles, high-performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes and other markets.

Source: The North Africa Journal November 19, 2021 07:07 UTC