Australia wants to break with China on lithium
The article is about Australia's efforts to break its dependence on China for lithium mining. Australia is the world's largest producer of lithium, but it currently relies on China for refining. The Australian government has set a goal of having 20% of global lithium refining take place in Australia by 2027. To achieve this goal, the government is offering incentives to companies that invest in lithium refining in Australia. The article also discusses the importance of lithium for the production of batteries, which are used in electric vehicles and other clean energy technologies.
Here are some key points from the article:
China controls more than 90% of the global lithium refining market. This gives China significant leverage over the price of lithium, which is a key component in electric vehicle batteries.
Australia is the world's largest producer of lithium, but it currently relies on China for refining.
The Australian government has set a goal of having 20% of global lithium refining take place in Australia by 2027.
The government is offering incentives to companies that invest in lithium refining in Australia.
Lithium is important for the production of batteries, which are used in electric vehicles and other clean energy technologies.
In 2022, the government announced a A$100 million ($74 million) fund to support the development of lithium refining projects. The government is also working to negotiate free trade agreements with countries like the United States that would make it easier for Australian companies to export lithium products.
Australia is also trying to develop its own lithium battery manufacturing industry. In 2021, the government announced a A$1 billion ($740 million) fund to support the development of lithium battery manufacturing projects. The government is also working to attract foreign investment in the lithium battery industry.
Read article:
https://www.nytimes.com/2023/05/23/b...-refining.html