The Australian lithium sector’s time in the sun has arrived, as softening prices, sovereign risk in rival nations and US subsidies trigger a wave of deals.
Lithium, the soft, silvery-white metal at the heart of the clean energy shift, is in hot demand these days. But the companies mining it have endured a tumultuous few years.
Galaxy looks to grow as lithium revival charges Mt Cattlin
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Galaxy Resources chief executive Simon Hay believes the Mt Cattlin mineâs days as a cash drain are over, as rising lithium prices revive the Western Australian asset at a time when the company aims to spend close to $US400 million ($515.5 million) on US growth projects.
Galaxy boss Simon Hay says European customers want a low-carbon supply chain for raw materials.Â
Wolter Peeters
Mr Hay last week revealed a $US244 million price tag for Galaxyâs James Bay lithium project in Canada and said the cost of building the Sal de Vida lithium project in Argentina was expected to be âwell belowâ $US200 million when more details are disclosed in April.