Lithium Industry Overview Sample Clauses

Lithium Industry Overview. While there is a plethora of information on the lithium industry in the public domain which points to approximately a 250% increase in lithium production is required to meet demand in 2040, there are some key trends emerging:  Batteries take up 77% of lithium demand.  Battery EVs take up 85% of all chemical lithium for batteries, Battery Electric Vehicles will soon be 90% of lithium chemical demand.  More than 60% of Battery Electric Vehicle demand is in China  Net Zero emission mandates are driving European demand  North America will become more important with lithium recovered from spodumene in Canada and various brines and clays in the US. It is important to note the entry of Exxon into Arkansas brines using Direct Lithium Extraction (DLE) technologies. The drilling, reservoir drawing, and reservoir re- injection are standard oilfield practices and their application especially with DLE is inevitable.  The hydromet processing of lithium is not far removed from LPG extraction in size and infrastructure. The oil majors currently have limited production growth opportunities, and so DLE brine operations will assist oil majors to participate in the energy transition concept, but more importantly, will have the balance sheets to invest the large amounts of capital the lithium supply industry requires to triple current production rates by 2030.  Outside of SQM and Albemarle, the lithium industry is really made up of quite small players.
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