Crowded herd of lithium explorers faces culling as supplies rise

Toronto

THE crowded field of explorers fighting for capital to produce lithium faces a painful reckoning as supplies build and prices flatten, leaving those with low costs and powerful partners still standing, industry consultants say.

Prices of the critical component in rechargeable batteries used in electric cars and mobile phones spiked last year and demand is projected to soar 60 per cent to 300,000 tonnes of lithium carbonate equivalent (LCE) annually by 2020, National Bank Financial said.