Lithium Exploration Adjacent to Nemaska Lithium's Whabouchi property in Quebec

Free
Message: Growing thirst for lithium, the new oil for cars

Price of lithium, a silvery white metal used in batteries for portable devices and electric cars, has been soaring

Growing thirst for lithium, the new oil for cars

It has been declared the new fuel - lithium, a silvery white metal, is a key component of batteries found in electric cars and portable devices.

While crude oil prices have slumped over the past two years, the price of lithium has soared during the same period.

According to metal price checker Metalary, lithium price has more than doubled over the past five years, from US$4,220 (S$5,894) a tonne in 2012 to US$9,100 this year.

Lithium is traditionally mined in countries like Australia, Chile, Argentina and China, but investors here can also get a piece of this white hot commodity too.

Australian firm Alliance Mineral Assets listed on the Singapore Exchange's (SGX) Catalist board in 2014.

 

Its performance over the past year was impressive - its total return in a year is nearly 450 per cent as of March 29.

Source: http://www.tnp.sg/news/business/growing-thirst-lithium-new-oil-cars

 
Share
New Message
Please login to post a reply