Lithium Market

LITHIUM PRICES ARE SURGING

Industry leading sedimentary Lithium peer advantages

Shallow, low-cost mining
Minimal requirement for crushing / grinding
Scale to support long mine life
Lithium mineralisation hosted by sediments deposited in a N-S oriented basin.
Lithium mineralised sediments, up to 50m in thickness are covered by a thin veneer of transported colluvium (5-10m thick).

Lithium Deposit Types	Estimated Cost (Li2CO3)	Mine Product	Mine Product	Production Steps
SEDIMENTARY	~ $4,000/t	Lithium Carbonate /Hydroxide	1,000-3,000 ppm Li	Mining, Leaching, Evaporation & Crystallization
BRINE	$2,500 – $4,000/t	Lithium Carbonate (Li2CO3)	500-1,000 ppm Li	Pumping of Brine Evaporation & Crystallization
HARDROCK	$6,000/t	Spodumene Concentrate (6% Li2O)	4,500-7,000 ppm Li	Mining Crushing & Grinding Roasting Acidification

Mine Product	Mine Product	Production Steps
Lithium Carbonate /Hydroxide	1,000-3,000 ppm Li	Mining, Leaching, Evaporation & Crystallization
Lithium Carbonate (Li2CO3)	500-1,000 ppm Li	Pumping of Brine Evaporation & Crystallization
Spodumene Concentrate (6% Li2O)	4,500-7,000 ppm Li	Mining Crushing & Grinding Roasting Acidification

Incorporating the demand from Electric Vehicles and Energy Storage Systems, Macquarie analysts believe that the additional demand will more than offset additional supply from new entrants
Lithium deficit falls in 2024, as new projects come online, but without further investment will expand again in 2027
Higher lithium prices from a market deficit would counteract the cost reductions in battery packs
Additional supply is required to balance the market

Rapidly growing demand driven by the energy transition

Automakers are accelerating their EV launch plans, partly to comply with increasingly stringent regulations in Europe & China.

“We will not stop until every car on the road is electric”