(Bloomberg) — Chinese miners and refiners are driving a surge in African lithium output, shrugging off concerns over a glut to lock in future supplies of the critical battery metal.
The continent is projected to account for almost 11% of global supply this year, compared with close to zero at the start of the decade, according to S&P Global Commodity Insights. That’s projected to increase to more than 14% by 2028.
A spike in lithium prices through 2021 and 2022 fueled a wave of investment by Chinese companies in African production. The metal has since plunged more than 80% after supply increased while sales of electric vehicles lag expectations.
For the rest of this article: https://www.bnnbloomberg.ca/business/international/2024/08/12/china-drives-african-lithium-surge-to-lock-in-key-battery-metal/