PILBF - Top 3 lithium mining companies to buy as EV batteries drive demand higher

2023-08-30 14:00:43 ET

The world has entered an era with climate challenges. In the last few years, record temperatures have been recorded across the globe.

Climate change is a reality.

But humanity began to deal with the problem, as 97 countries pledged to achieve net-zero emissions. That number accounts for about 80% of all emissions in the world.

Governments have taken various measures to achieve the said net-zero emissions target. One of them is to stimulate electric vehicle (EVs) sales.

EVs are key in the decarbonization era, and the global demand for them is rising. By 2040, roughly 75% of all vehicles on the road will be EVs.

But EVs rely on lithium-ion batteries. Batteries are expected to account for 95% of lithium demand by 2030.

There are no batteries without lithium, so lithium mining companies sit at the forefront of the decarbonization revolution.

So, which lithium mining companies are worth focusing on?

Pilbara Minerals

Pilbara Minerals (OTC:PILBF) is an Australian mineral resources company that primarily explores for lithium. It is no wonder, considering that Australia is the number one lithium producer in the world, with a share of about 47% of global supply.

The stock price gained +24.96% YTD, and almost 38% of its shares are held by institutional investors.

Allkem

Allkem (ASX:AKE) is another Australian lithium supplier. It mines in various countries, such as Japan, Argentina, and Canada (besides Australia), and it plans to triple its production by 2026.

The stock is up +28% YTD.

Solis Minerals

Solis Minerals (OTC:SLMFF) is a Canadian mining company based in Vancouver. It was incorporated in 2005, and the stock price is up +476% in the last twelve months.

Canada is the world’s number six country with the biggest lithium reserves.

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