Albemarle details efforts to boost its Chilean lithium output by 30%

The exchange will work Fastmarkets to provide the reference price lithium, a key component in the batteries that power electric vehicles and high-tech devices.

According to Sweden's Deputy Minister of Foreign Trade and Promotion, the country has become lithium-thirsty due to an increase in demand for electric cars.

The find potentially curbs the nation's reliance on imports of the material used in electric vehicle batteries.

The race by Tesla, Samsung and other technology giants to secure supplies of lithium is creating a unique chance for two global mining superpowers to reap more value from their natural resources.

Samples returned values of up to 373 mg/L lithium, and up to 8,001 mg/L potassium.

Wesfarmers is working with Kidman towards developing a large-scale, long-life and high-grade lithium hydroxide project in Western Australia. 

China’s grip on the world’s rare earths market is in focus once again amid speculation the dominant producer could choke off supplies as the trade war escalates.

The Chilean lithium producer expects demand to grow about 17% in 2019 to at least 315,000 tonnes, compared to the less than 260,000 tonnes it totalled last year.

The world's largest miner has revised up expectations for electric vehicle sales and market penetration, but warns the electrification of the transport sector will proceed only as fast as the development of charging infrastructure does.