Electric cars, battery revolution power scramble for lithium – by Paul Garvey (The Australian – February 10, 2016)

http://www.theaustralian.com.au/

The growing excitement around electric vehicles and home power storage is spilling over into the junior resources sector, with numerous players joining the hunt for lithium — the key ingredient in the new-generation batteries that are changing the way the world looks at energy.

While momentum has been building in the lithium space for some time amid the hype around Tesla, electric vehicles and other emerging lithium-ion battery applications, the value of the commodity has only recently started to surge.

Lithium carbonate prices have more than doubled in the past few months, climbing from $US7700 a tonne to more than $US16,000 a tonne. The surge comes despite the continued weakness in oil prices, which led some to question whether suddenly cheaper fuel could slow the rollout of electric vehicles.

Trevor Pike, who as executive director of equity sales at Canaccord Genuity has long been keeping a close eye on the lithium space, attributes the momentum to the Paris climate conference and resultant pledge by world governments to tackle emissions.

Mr Pike, who has been closely involved with Orocobre, Australia’s biggest lithium play, for several years, believes investors still haven’t woken up to the battery-led revolution taking place in the way the world stores and uses energy.

For the rest of this article, click here: http://www.theaustralian.com.au/business/mining-energy/electric-cars-battery-revolution-power-scramble-for-lithium/news-story/f939ca6ee9e314d25b4950a3e9cc28ce

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