Published on 31 May 2016
Peter Secker, chief executive of Bacanora Minerals Ltd's (LON:BCN, CVE:BCN) says the market for lithium could double over the next decade, in tandem with the rise of renewable energy.
Lithium batteries store energy from renewable energy sources, such as solar and wind, and Secker says “lithium is becoming more and more an everyday commodity and significant consumption increases over the next decade are going to see demand growth from about 180,000 tonnes a year that it is currently to anywhere north of 350,000 tonnes a year.”
He adds that there is “very limited new supply coming into the market”.
Bacanora is currently developing the Sonora lithium deposit in Mexico with the feasibility study scheduled to be delivered in in the first quarter of 2017.