Tesla will be paying more for the lithium that powers its cars after Piedmont Lithium amended their deal amid ongoing price rally. Piedmont will now supply the EV giant with an additional 125,000 metric tonnes of lithium concentrate beginning in the second half of this year. According to Cowen & Co. analyst David Deckelbaum, the change in the supply agreement between the two companies is “significant” because Telsa typically has fixed prices for the materials it requires for batteries. Meanwhile, prices have more than doubled since 2020, reaching nearly $80,000 per tonne, a level they have maintained throughout 2022, which is raising concerns that carmakers will struggle to secure lithium supplies for the rest of the decade. According to Fastmarkets NewGen analysis, approximately 40 lithium projects are undergoing or have completed definitive feasibility studies globally, representing a 166% increase over 2019. Noram Lithium Corp. ( TSXV:NRM ) ( OTCQB:NRVTF ) and its Zeus Lithium Project are right next to the only lithium producer in the United States, Albemarle ‘s ( NYSE:ALB ) Silver Peak Operation. Lithium Americas ( NYSE:LAC ), Livent Corp. ( NYSE:LTHM ), and Sociedad Quimica y Minera de Chile ( NYSE:SQM ) are other miners with undergoing lithium projects.
Noram Lithium Corp. ( TSXV:NRM ) ( OTCQB:NRVTF ) is a well-funded advanced lithium devel...
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