Lithium boffin Michael Fotios sees carbonate prices reaching...

Lithium boffin Michael Fotios sees carbonate prices reaching US$50,000t by Christmas

https://unauthorised investment advice/resources/lithium-boffin-michael-fotios-sees-carbonate-prices-reaching-us50000t-by-christmas/

Despite bearish forecasts from major investment banks, lithium industry pioneer and Scorpion Minerals boss Michael Fotios believes a potential tripling in carbonate prices could be on the cards by the end of the year.

As lepidolite mining in China stalls and growth in electric vehicle production surges, Fotios – a second-generation geologist and founding father of Galaxy Resources – says carbonate prices could lift from their current base of US$18,000/t up to projections of US$50,000/t.

“I think the price will recover, double again and move higher between now and Christmas for lithium carbonate,” he says.

“We’re seeing outstanding growth in electric vehicle production in China which is running at a 50% growth rate year on year.

“America will eventually catch up, but you also have India and Europe who are actively trying to reach 50% EV adoption rates over the next decade or so which is a very meaningful number.”