"Main message for us from Shai Agassi this time is that "China gets it". "Ones China does it - it is bound to happen everywhere"
Image via WikipediaNow it is time for Lithium Supply - China already controls 97% of Rare Earths market. Lithium output will be increased fivefold in Chinese Lithium province, but the real news is below from Reuters - it is only half of previously expected output and now Chinese companies are on the shopping spree among lithium developers. Who will be at the boardroom table next - only a few lithium brines plays are left without J/V partners and we are following here two of them: International Lithium and Rodinia Lithium. We expect M&A activity in lithium space to be continued during this summer months.
"Bill wants half of U.S. vehicles electrified by 2030
This is what we need to address dire consequences of Peak Oil. There is still time and technology available to us to electrify our transportation system. Electric cars are coming on the roads and Asian conglomerates are busy building Supply Chain for Electric Cars starting with lithium deposits. Will US Corp. finally awaken to this geopolitical problem?"
Qinghai to increase lithium output by 500% in 5 years
Jul. 23, 2010 (China Knowledge) - Southwest China's Qinghai Province plans to increase lithium output by five times to 30,000 tons over the next five years, as demand for electric vehicles powered by lithium cells surges, the Xinhua News Agency reported, citing a senior official from Land and Resources Department in the province.
The province has the largest reserves of lithium in China, with estimated reserves of over 17.65 million tons, and nearly 90% of the nation's total lithium production.
Reportedly, Citic National Security Lithium Technology Corp and Qinghai Lithium Co will be responsible for the production of the 30,000 tons capacity.
China recently surpassed Japan as the world's largest lithium battery provider. It also has about one-tenth of the estimated global lithium reserves, and is the world's third-largest producer of the metal."
China halves lithium plan, now sees only fivefold growth
Fri Jul 23, 2010 7:38am GMT
BEIJING July 23 (Reuters) - China's principal lithium-producing province plans to boost output of the metal fivefold in the next five years, half the level of its previous target, the China Daily reported on Friday.
China is the world's No.3 miner of lithium, used in the production of batteries, after Chile and Australia, and nearly 90 percent of its output comes from salt lakes in Qinghai province.
Qinghai produced 6,000 tonnes of lithium carbonate last year and planned to raise that to 30,000 tonnes over the next five years, the newspaper quoted Liu Shanqing, director of Qinghai's Land and Resources Department, as saying.
"The original plan was to have a capacity of 60,000 tonnes by 2015, but since extraction technologies are not that mature we have scaled it down to 30,000 tonnes," he said.
Liu said the bulk of production -- 25,000 tonnes -- was expected to come from Citic National Security Lithium Technology Corp, with Qinghai Lithium Co the other main producer. (Editing by Chris Lewis)"