New York Times - Australian Lithium

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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

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Australia has the potential to become a global leader in lithium production, with onshore resources worth an estimated $10 billion.

The country is home to some of the world's richest lithium deposits, including Greenbushes in Western Australia and Mount Cattlin in South Australia.

However, Australia has been slow to exploit its lithium potential, due to a lack of investment and government support.

McKinsey & Company has called on the Australian government to take a more active role in developing the lithium industry, by providing tax breaks, grants, and other incentives. The company has also said that Australia needs to improve its infrastructure and regulatory environment to attract investment. If Australia can overcome these challenges, it could become a major player in the global lithium market.

Here are some additional details from the article:

McKinsey estimates that Australia could produce 500,000 tonnes of lithium carbonate per year by 2030, which would make it the world's second-largest producer after China.

The company says that the lithium industry could create up to 10,000 jobs in Australia.

The Australian government has already taken some steps to support the lithium industry, including providing $20 million in funding for research and development.

However, more needs to be done to ensure that Australia can capitalize on its lithium potential.