Having signed an exclusive option agreement, Riversgold Ltd (ASX:RGL) is now set to acquire 100% of the Abigail Lithium Project, which comprises seven.
Demand for lithium-ion batteries (and hence lithium) in North America is set to surge 13.8 fold from 2022 to 2035. The US Inflation Reduction Act has led to a massive increase in planned battery manufacturing in North America to support a North American supply chain for electric vehicles and energy stationary storage.
The benchmark Australian share index rose 0.5 per cent to 7364.7 after the Reserve Bank of Australia pulled the trigger on its tenth consecutive rate increase.