LAC - Leading Lithium Producing Countries Seek To Exert More Control Over Prices As Demand Soars
As the global demand for lithium continues to skyrocket, countries with an abundance of lithium and other battery metals like nickel and cobalt are looking for ways to increase their influence over the global supply of these highly sought-after commodities. One of the options these countries are considering is setting up a cartel like the 13-member Organization of Petroleum Exporting Countries (OPEC) to have greater control over the supply and pricing of metals and minerals critical for the global energy transition. Lithium demand will only increase whether this plan succeeds or not, and some analysts believe there could be acute shortages by 2035. According to a recent report by the Boston Consulting Group, the most likely scenario in 2030 is a 4% shortfall between supply and demand, which could become far more severe and “chronic” by the mid-2030s. Luckily, companies like FE Battery Metals Ltd. ( CSE:FE ) ( OTCQB:FEMFD ) , Livent Corp. ( NYSE:LTHM ) , Piedmont Lithium ( NASDAQ:PLL ) , Sociedad Quimica y Minera de Chile ( NYSE:SQM ) , and Lithium Americas ( NYSE:LAC ) seem well positioned to capitalize on this growing demand.
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