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Price of lithium has quadrupled in a year, but China found a massive deposit near Mount Everest

2022-02-23 00:00:00

Lithium is a critical component of batteries for electric vehicles and demand has increased sharply in recent years. So has the price. According to Reuters, "BMI's assessment puts the mid-point of Chinese lithium carbonate prices in December at $39,250 a tonne, a gain of 485.8% from the same period a year ago."

Last week, China announced it discoved a 1.0125 million tonne deposit of lithium oxide near Qomolangma (aka Mount Everest). At current prices, the deposit is worth almost $40 billion.

From South China Morning Post:
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