The Asia Miner

JUN 2018

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Lithium the asia miner • volume 15 • issue 2 34 FEATURE: Lithium The 2017 New Energy Outlook – Bloomberg New Energy Finance's annual analysis of the future of energy – predicts that global power demand between 2017 and 2040 will grow by 58%, or roughly, 2% per year. In that same Ɵme frame, Bloomberg New Energy Finance predicts that lithium-ion baƩeries used for energy storage will become a $20 billion per year market – a tenfold increase on current figures – with small-scale baƩeries installed by households and businesses alongside PV systems accounƟng for 57% of installed storage capacity worldwide by 2040. In 2016 alone, global lithium carbonate consumpƟon was at 197,000 tonnes per annum, of which, more than 56,000 tonnes were consumed in LIBs, and a further 18,000 tonnes was converted into lithium hydroxide, mainly for the use in LIBs. For the past three years, Tesla was behind much of the shiŌs and drivers in the lithium space. In January 2017, the company began producƟon at its Gigafactory 1 facility in Nevada, which is expected in 2018 to produce 35 GWh per year of LIB cells. Tesla's Q1 2018 vehicle producƟon totalled 34,494 vehicles – an increase of 40% from Q4 2017. But Tesla is no longer the sole player in the lithium space. Many carmakers have begun outlining plans to win a wedge of the electric vehicle (EV) pie. So much so, that in Q1 2018 analysts at UBS raised their forecast for global EV sales in 2021 to 3.1 million units from 2.5 million, and to 14.2 million units in 2025. Based on these predicƟons, Benchmark Mineral Intelligence believes that the surging momentum for EVs will push demand for LIBs above 400 GWh by 2025, which means that supply of lithium will need to reach 400,000 to 500,000 tonnes by the same year. AUSTRALIA ANSWERS THE LITHIUM CALL Driven by our world's insatiable hunger for energy, lithium and its chemical compounds are proving to possess a wide range of industrial applications, especially in their use in lithium-ion batteries (LIBs) as a power source. "In 2016 alone, global lithium carbonate consumption was at 197,000 tonnes per annum"

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