There are currently no alternatives to lithium-ion batteries, and this is likely to remain the case for some time to come. A Chinese car manufacturer has just started mass production of a battery that is designed to last for more than 1,000 kilometers without charging. This is possible thanks to an enormously high energy density. The weight of the battery is 676 kilograms. Some efforts are still needed to meet the expected growing demand for lithium, otherwise there is a risk of a shortage. There have been supply cuts in recent months as lithium prices have fallen. Mining companies have responded to this. At the same time, demand for lithium rose sharply in March. Stocks in the refineries were reduced. Nevertheless, the lithium supply is still forecast to grow by almost 19 percent compared to the previous year.

According to estimates, global demand for lithium is set to increase by 19.3% between 2023 and 2028. This is primarily due to electric vehicles. At the same time, the increase in wind and solar power plants will also lead to an increase in energy storage solutions. The expansion of capacities for the generation of renewable energies has increased enormously. In China, capacity installations have more than doubled. Batteries for portable devices, e-bikes and industrial batteries are also increasingly in demand, but do not account for such a large proportion compared to the aforementioned applications. Global sales of electric vehicles rose by 31 percent last year. The increase is likely to be somewhat lower in the coming years. The fact is, however, that vast quantities of lithium are needed. This should work to the advantage of lithium companies such as Targa Exploration and Century Lithium.

Targa Exploration’s – https://www.commodity-tv.com/ondemand/companies/profil/targa-exploration-corp/ – lithium project portfolio consists of projects in the provinces of Quebec, Ontario, Manitoba and Saskatchewan and covers over 412,000 hectares of prospective ground.

Century Lithium – https://www.commodity-tv.com/ondemand/companies/profil/century-lithium-corp/ – has the promising Clayton Valley lithium project in Nevada. The material is currently being tested there and the company is working on finalizing the feasibility study.

Current company information and press releases from Century Lithium (- https://www.resource-capital.ch/en/companies/century-lithium-corp/ -).

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