Australia could grab 20% of the world’s lithium refining by 2027 – by James Fernyhough (Bloomberg News – October 3, 2022)

https://www.bnnbloomberg.ca/

Australia is poised to grab a fifth of the world’s lithium hydroxide refining capacity within five years as demand grows for battery metals that bypass China, Canberra said in a report.

China produces more than 80% of the world’s lithium hydroxide, a processed form of the in-demand metal, according to the International Energy Agency. However, several companies are building refineries in Australia that would turn locally-mined lithium ore into battery-grade chemicals.

If these plans progress on time Australia could have 10% of the refining market by 2024 from a negligible amount currently, and 20% by 2027, the government said in a report released Tuesday. But delays and technical issues could derail the timeline, it warned.

Chinese company Tianqi Lithium Corp. has already opened a refinery near Perth in Western Australia, in a joint venture with Australia’s IGO Ltd. US group Albemarle Corp. is close to opening a plant nearby in a joint venture with Mineral Resources Ltd. Both projects have been beset with technical problems and cost blowouts, however.

For the rest of this article: https://www.bnnbloomberg.ca/australia-could-grab-20-of-world-s-lithium-refining-by-2027-1.1827615#:~:text=(Bloomberg)%20%2D%2D%20Australia%20is%20poised,Canberra%20said%20in%20a%20report.