{"id":30870,"date":"2023-03-10T15:23:21","date_gmt":"2023-03-10T15:23:21","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=30870"},"modified":"2024-02-19T10:33:59","modified_gmt":"2024-02-19T10:33:59","slug":"how-can-australia-capitalise-on-the-global-lithium-demand","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/how-can-australia-capitalise-on-the-global-lithium-demand\/30870\/","title":{"rendered":"How can Australia capitalise on the global lithium demand?"},"content":{"rendered":"
Over a century ago, Australia\u2019s first gold rush started in New South Wales and quickly spread across Victoria and Western Australia. Today, another commodity is having its heyday. Global lithium demand is soaring, with many traditional gold explorers and miners now seeking the sky-high prices of hard-rock lithium spodumene, an ore of the silvery-white alkali metal.<\/p>\n
Fuelled by the Western world\u2019s mission of decarbonisation and the energy transition away from fossil fuels to renewable alternatives, lithium is now one of the most sought-after metals, increasing tenfold in price from US$500\/t to US$5,000\/t.1<\/sup> Pilbara Minerals\u2019 spodumene auction saw a sixth-fold increase between July 2021 and November 2022 alone.2<\/sup><\/p>\n