Lithium Miners Chase Growth Amid Surging Prices, Profits

The growth of sales of electric vehicles across the world has resulted in the rapid expansion of the lithium mining market; customers are hungry for lithium supply, which has resulted in an increase in demand to mine for the precious commodity. 

The limited supply of lithium has resulted in sky-rocketing prices, culminating in prices that are at an all-time high. The industry’s top miners are responding with expansion in mining operations for the soft, silvery metal globally – SQM, the second biggest lithium producer in 2021 is looking to increase production by 150% by 2025; while Pilbara Minerals, the third biggest, might double its annual output. 

Revenues of the major lithium mining industry players have increased exponentially; while one player planned to release a dividend policy, another saw its overall net income grow tenfold from USD 106.1 million. 

Will these historically soaring prices remain in 2023? Download the report to find out.