Lithium,which is extracted from rocks in Australia or brines in South America,is one of the key materials needed to make the batteries that power electric vehicles. Presently there are no commercial refiners in Europe,making the region’s car and battery makers almost totally reliant on China for supply.
The company’s co-founder and chief executive Daniel Bloor toldThe Age andThe Sydney Morning Herald that to develop some of Europe’s first,and lowest carbon,lithium refining capacity,it was aiming to strengthen relationships with Australia to secure supply and refine in Europe and the UK.
In 2021,Australia was the world leader in terms of lithium mine production,with an estimated output of 55,000 metric tons. Chile and China ranked second and third,with lithium production totalling 26,000 and 14,000 metric tons,respectively.
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The urgent need to grow supply presents a major opportunity for Australia’s mining sector,with more than half of the world’s lithium already produced in the country.
Bloor said that Australia,which last year signed a historic free-trade agreement with the UK,would be an excellent trade partner and further strengthen collaborations required to ensure a successful energy transition.
“The electrification of the car fleet means a whole new supply chain. Secure and reliant domestic supply chains are a clear trend,” Bloor said.