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Old 07-20-2023, 07:40 AM
Sparty Sparty is offline
Join Date: Mar 2009
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Default Australia's Lithium Market Potential

McKinsey - Australia's Lithium Market Potential June 9, 2023

Summary of the article "Australia's potential in the lithium market"

Global demand for lithium is expected to grow rapidly in the future, driven by the growth of the electric vehicle market.

Australia is already the world's largest producer of spodumene, the raw material for lithium hydroxide and lithium carbonate.

However, Australia has limited capability and capacity to refine spodumene into lithium hydroxide.

If Australia were to extend its lithium extraction into refining, that would lead to new revenues and margins—and contribute to national income and employment.

The lithium hydroxide market may generate up to $10 billion per year in additional revenue for market participants by 2030.

Australia has four potential advantages in expanding lithium hydroxide production:

Hard-rock lithium reserves and integrated refining could give Australia a strong cost advantage.

Australia could become an attractive supplier to multiple markets under free trade agreements.

The Australian industry can draw on the developing renewable energy industry to offer low-emission production.

Australia could build and leverage its lithium knowledge base.

The article also discusses some of the challenges that Australia faces in expanding lithium hydroxide production, such as the need for investment in infrastructure and skills. However, the article concludes that Australia has a significant opportunity to become a major player in the global lithium market.


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