Lithium Report 2018 Everything you need to know about lithium! - Advantage Lithium
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Lithium Report 2018
Everything you need to know about lithium!
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Tables of Contents Imprint
Commodity-TV
The whole world of commodities
in one App!
ad
Downlo App
ique
our un e! Disclaimer 02
for fre
Table of Contents | Imprint07
Preface09
Lithium – the most important substance of the 21st century
is just gaining momentum! 10
Interview with Tobias Tretter, Manager of
Structured Solutions Lithium Index Strategic Fund 19
Editor
Swiss Resource Capital AG
Company profiles Poststr. 1
9100 Herisau, Schweiz
Advantage Lithium Corp. 24 Tel : +41 71 354 8501
Fax : +41 71 560 4271
Durango Resources Inc. 29 info@resource-capital.ch
www.resource-capital.ch
Liberty One Lithium Corp. 33
Editorial staff
Millennial Lithium Corp. 39 Jochen Staiger
Tim Rödel
Nemaska Lithium Inc. 44
Layout/Design
Pure Energy Minerals Ltd. 48 Frauke Deutsch
Watch Management & Expert Interviews, Site-Visit-Videos, Standard Lithium Ltd. 54 All rights reserved. Reprinting material
News Shows and receive top and up to date by copying in electronic form is not
Wealth Minerals Ltd. 59 permitted.
Mining Information on your mobile device worldwide!
First Cobalt Corp. 64
Editorial Deadline 09/10/2017
Amazing features:
• Company Facts
• Global Mining News
cover photo: © shutterstock / Zapp2Photo
• Push Notofications page 11: Artwork studio BKK/shutterstock .com
• Commodity-TV, Rohstoff-TV and Dukascopy-TV page18: Scharfsinn/shutterstock.com
powered by: page 38: canstockphoto
• Live Charts All images and graphics are, unless otherwise
• JRB-Rohstoffblog stated, by the companies.
Back, photo 1: canstockphoto, photo 2: pixabay,
photo 3: shutterstock, photo 4: fotolia
Date of Charts: 10/27/2017
6 7
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Preface
Dear reader,
it is with great pleasure that we are ente- clean local public transport with a range Jochen Staiger is founder and CEO of
ring the second year of our Lithium Spe- of over 300 km. Volkswagen wants to in- Swiss Resource Capital AG, located in
cial Report. Swiss Resource Capital AG vest around € 10 billion in the electro mo- Herisau, Switzerland. As chief-editor
has made it its business to topically and bility during the next five years and star- and founder of the first two resource
comprehensively inform precious metals ting 2025 sell more than one million IP-TV-channels Commodity-TV and its
and commodity investors, interested electric cars per year. German counterpart Rohstoff-TV, he
parties and the individual who wants to reports about companies, experts,
become an investor in various commodi- All this will be an enormous drive for the fund managers and various themes
ties and mining companies. On our web- lithium demand and in the interview with around the international mining
site www.resource-capital.ch you will Tobias Tretter you will read how and in business and the correspondent
find 20 companies and information as which directions the developments ad- metals.
well as articles about the topic commodi- vance. Commodities are the base of our
ties. economic activities. Without commodi-
ties there are no technical innovations
A year ago, we started our series of spe- and no products that can be manufactu-
cial reports with lithium because we con- red with new materials.
sider this metal to be one of the great
future metals in the energy sector and, in With our special reports we would like to
spite of the already happened boom, see give you the necessary insights and in-
big chances and potentials in the short form you comprehensively.
R o h s t o f f - T V g et term. The battery development is only at In addition, our two Commodity IPTV
and
Commodity-TV
the beginning of a long road and the channels www.Commodity-TV.net &
n e s s it d e s e r v es! electric automobile has to capture its www.Rohstoff-TV.net are available to
aware
place among consumers and in the auto- you free of charge. For on the go we re-
c o m p a n y t h e mobile history. Lithium is the main com- commend our new Commodity-TV App
your ponent of all available large-scale pro-
duction batteries and accumulators and
for iPhone or Android which also provi-
des real-time charts, share prices and
therefore the crucial link in the electro the latest videos.
mobility dream. The necessary charging
infrastructure is pushed along and ex- My team and I hope you will enjoy rea-
panded in Germany which might accele- ding this Special Lithium Report and Tim Roedel is chief-editorial- and
rate the future trend. hope that we can provide you with new chief-communications-manager at
information, impressions and ideas. Only SRC AG. He has been active in the
The annual Paris car show was dedica- the one who gets broadly informed and commodity sector since 2007 and
ted to the electro mobility in the past ye- takes matters relating to investments in held several editor- and chief-editor-
ars and the 2018 shows in Geneva as his own hand will be in the winners and positions, e.g. at the publications
well as Tokyo should not be different. The preserve his wealth during these difficult Rohstoff-Spiegel, Rohstoff-Woche,
issue of the short range should resolve times. Rohstoffraketen, Wahrer Wohlstand
itself with new accumulator technologies and First Mover. He owns an
within the coming three to five years. enormous commodity expertise and a
This will drastically increase the demand Yours Jochen Staiger wide-spread network within the whole
for electric cars. According to experts resource sector.
the demand increase will be based on
the formula “500+200” meaning 500 km
range plus 200 km reserve. Then, it is be-
lieved, the die-hard driver of combustion
engines will switch to electric cars. Daim-
ler-Benz is already working on a bus for
9
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Lithium – the most important substance of the 21st
century is just gaining momentum!
Carbon was the past – Lithium Usually metallic lithium is produced in a where lithium metal oxides, like lithium ge of lithium ions. Due to the high energy
is the future multi-stage process starting from lithium cobalt oxide, are used as cathode mate- density lithium-ion accumulators deliver
carbonate, and is traded mostly with a rial. For the production of accumulators – in contrast to conventional mercury or
Rarely was a chemical element of similar purity of 99.5 %. The metallic lithium is and batteries purity grades above 99.5 nickel based batteries – a constant per-
great importance as lithium will be in the used as a catalyst in the chemical and % are needed. Industrial grade lithium formance throughout the discharge peri-
coming decades. Since the announce- pharmaceutical industry as well as in the hydroxide is used, among other things, od and not subjected to any memory ef-
ment of Tesla Motors’ plans to build up to production of aluminum lithium alloys. as raw material for lubricants as well as fect - that is, the gradual capacity loss
500,000 electric vehicles per year in its coolants and technical grade lithium throughout their service life due to many
mega-factory starting 2017, lithium, in The industry distinguishes three basic ty- hydroxide is used in the production of partial discharges. Therefore lithium-ion
connection with lithium-ion batteries, is pes or qualities of lithium compounds: accumulators and batteries. Lithium accumulators have a clear advantage
on everyone’s lips. The metal in its future carbonate – crystalline, granulated or as over conventional nickel-cadmium accu-
significance is comparable only with car- 1. “Industrial grade”, with a purity of over powder – for example is used for the mulators.
bon that is not only important in daily life 96 % for glass, fluxing agent and lu- electrolytic production of aluminum, in
in the form of plastics but also as energy bricant; the ceramic and pharmaceutical industry
source in form of coal and crude oil. 2. “Technical grade”, with a purity around as well as in the alloy technique. For the The production requires large
Whereas carbon above all is an energy 99.5 % for ceramics, lubricants and production of lithium-ion-accumulators, quantities of lithium
supplier and energy source, lithium will batteries; and lithium carbonate with a specific purity is
become more and more the energy sto- 3. “Battery grade”, with a purity of over used in the form of a very fine powder The “disadvantage”: the production of
rage medium of the future. 99.5 % especially for high end battery (battery grade powder). The extraction lithium-ion accumulators requires large
cathode materials. and processing of (especially high grade) quantities of lithium. Every smartphone
lithium is considered to be very expensive. contains 5 to 7 grams LCE (Lithium Car-
What is lithium? bonate Equivalent). In a notebook or tab-
Main application area: batteries let there are 20 to 40 grams. Power tools
Lithium is a light metal belonging to the and accumulators Lithium-ion accumulators are like electric screwdrivers or electric saws
alkali metal group. It is the least dense of considered the non-plus-ultra need 40 to 60 grams for their accumula-
all known solid elements. It has half the The above mentioned specific and ver- tors. A storage unit with a capacity of
weight of water, is silver-gray and relati- satile properties make lithium a Currently research is conducted and 10KWh for domestic use contains around
vely soft. Lithium is highly reactive and sought-after material used in many appli- works done globally on increasing the 23 kg LCE and the accumulators for
therefore found in nature only as a lithium cation areas. It is not a surprise that the power of accumulators for electric cars. electric cars contain 40 to 80 kg. A pow-
compound. Contact with air tarnishes main application area of lithium was In the meantime, it has become evident er storage unit with a capacity of 650MWh
the surface due to the formation of lithi- constantly changing in the past. Initially it that the lithium-ion accumulator is a clear contains 1.5 tons of LCE. Billions of
um oxide and lithium nitride. In pure oxy- was used primarily in medicine and in the favorite. One reason among others is smartphones and the high millions of
gen lithium combusts at 1800 Celsius 1950’s the element became commercial- that inside a lithium-ion accumulator the notebooks, power tools, cars, e-bikes
with a bright red flame forming lithium ly successful as an alloy component. voltage is generated through the exchan- etc. adds up to a demand of several
oxide. Lithium reacts with water violently Due to its low weight and the positive 100,000 tons of LCE per year.
forming lithium hydroxide. properties regarding to tensile strength,
hardness and elasticity lithium became
an inherent part of the aerospace Application in the area of rege-
The global lithium extraction is divided in technique. During the past 20 years the nerative energies
several branches producing the following situation changed. In the course of the
types of lithium compounds: beginning of the electro revolution it was The application of lithium in lithium-ion
recognized that due to the low standard batteries or accumulators in car manu-
1. Lithium carbonate electrode potential of lithium the metal is facturing is only one of many possible
2. Lithium hydroxide almost perfectly suited as the anode in uses. Corresponding energy storage
3. Lithium chloride batteries. Lithium batteries are characte- systems will be increasingly used for the
4. Butyl lithium and rized by a very high energy density and storage of electricity derived from alter-
5. Lithium metal can generate a very high voltage, but native energy sources. The phenomenal
they are not rechargeable. This property expansion of the power generation in
is found in lithium-ion accumulators wind farms or solar cells is a giant advan-
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tage for the environment but an enor-
mous challenge for the power grids. The
Supply Situation
reason for this is the extreme fluctuations
during power generation by regenerative Two types of lithium deposits
energy sources. When the wind blows or
the sun shines large quantities of electric In general lithium is derived from two dif-
energy are “pumped” into the grid in a ferent sources.
very short time creating enormous short
lived overcapacities that are not used. 1. Brine deposits: Lithium carbonate is
According to calculations of the German primarily derived by evaporating the
Federal Association of Wind Energy 20 lithium bearing brines with addition of
percent of the annual return of a wind sodium carbonate in salt lakes. For
farm is lost due to turbine shutdown du- the production of metallic lithium, the
ring power grid overload. lithium carbonate is dissolved in hy-
drochloric acid which produces car- Currently, around 80 % of the total lithium
bon dioxide that escapes as gas and production worldwide originates in four
The biggest future field of lithium chloride in solution. This solu- countries.(Source: USGS Mineral Commodity
application for lithium-ion tion is reduced in the vacuum evapo- Summaries / Lithium X)
accumulators: Decentralized rator until crystallization of the lithium
Energy Storage chloride.
Smart-Grid-Systems should prevent a 2. “Hard rock spodumene” deposits: in
power grid overload but need a large this case the lithium compounds are
number of short and middle term energy not derived from the salt of salt lakes Lithium is abundant Currently Lithium production is
storage systems to store the surplus but from spodumene, a lithium bea- focused primarily in four coun-
energy and feed it into the grid when the- ring aluminum silicate mineral. The In the past it was wrongly assumed that tries and by four companies
re is a lack of wind and solar power. Lithi- spodumene is mined using conventi- a global switch from conventional com-
um-ion accumulators could be the soluti- onal techniques and processed to a bustion engines to electric motors is im- Currently, around 80 % of the total lithi-
on to this problem by buffering the concentrate that is often transformed possible due to lack of lithium. That is um production worldwide originates in
surplus energy and feeding it into the to lithium carbonate with a purity of not quite right. Lithium is not that rare in these three South American countries
grid on demand. Many producers alrea- more than 99.5 %. The necessary in- the earth, accounting for approximately plus Australia and production is split bet-
dy build efficient lithium-ion accumula- tensive thermal and hydrometallurgi- 0.006 % of the earth‘s crust, therefore ween four companies. As a result, the
tors that will be used decentralized in a cal processes are considered as very rarer than zinc, copper and tungsten but whole lithium market is lacking transpa-
family home with a photovoltaic system expensive. This type of deposit is al- a bit more common than cobalt, tin and rency. This is the reason the big battery
on the roof. An example is the Tesla Po- most exclusively mined in Australia lead. According to estimates of the US and accumulator producers like Panaso-
werwall, a solar battery for private homes and the processing takes place pri- Geological Survey, there are 40 million nic and the leading electric car manufac-
which is produced in the Tesla mega-fac- marily in Chinese facilities. tons of lithium mineable globally, 65 % of turers, above all Tesla Motors, are look-
tory in Nevada, USA, since October that alone in the South American coun- ing for long-term supply contracts with
2015. The electric energy storage system Recently more and more exploration and tries of Bolivia, Chile and Argentina. Cur- relatively small development companies
consists of accumulators, charge control development companies count on a third rently the biggest lithium carbonate pro- that in part are not producing before
and a liquid cooling system. It is possible source of lithium; the possibility to ext- duction takes place in the Salar de 2020. As a result of this supply oligopoly,
for private customers to connect up to 9 ract lithium from old exploited oil reser- Atacama, a salt lake in the northern Chi- lithium is currently not traded in the mar-
batteries to reach a total capacity of 57.6 voirs. The lithium is extracted from was- lean province of Antofagasta. Approxi- ket and the actual trading prices are
kWh. With this, Tesla got the ball rolling tewater remaining in the reservoir. The mately 40 % of the global lithium produc- strictly confidential. One reason often
and by doing so is making the decentra- viability of this process was proven seve- tion originates in this region. mentioned by the supplier is that the
lized energy storage cheaper as well as ral times. In addition, this unusual lithium available and produced lithium qualities
efficient and this area to be the most im- production is economically feasible. The- are too different for a standardized mar-
portant driver for the lithium market. reby brine containing (former) oil fields ket place.
become the focus of the lithium industry.
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… in part at new lithium hot Summary supply side
spots
The lithium production is (still) in the
Therefore, besides the typical lithium re- hands of a few producers. The worldwi-
gions South America and Australia, new de biggest lithium producer Albemarle
regions in North America and especially acquired Rockwood Holdings, the owner
Canada, Mexico and (due to the proximi- of the two largest lithium deposits in Chi-
ty to the future top consumer Tesla Mo- le at the beginning of 2015. Albemarle
tors) the US, especially the US-state Ne- and three other companies, SQM, FMC
vada emerge as lithium hot spots. In the and Tianqui (i.a. Albemarle’s joint venture
past years the Clayton Valley in Nevada partner in Australia) share the lithium
has become the Lithium-Eldorado market mostly between each other. Al-
because it hosts Albemarle’s Silver Peak though there is seemingly enough lithium
Mine, the only operating brine lithium on the planet, the extraction can be cost-
From 2017 on, the lithium market went into a mine in North America. The Clayton Val- ly and time consuming so that higher
supply deficit. ley is one of the few areas worldwide prices are not an automatically leading to
Source: Orocobre, Advantage Lithium where commercially mineable lithium bri- a supply increase. The supply should in-
nes are found. Recently, Pure Energy Mi- crease in the coming years but forecas-
nerals closed an offtake agreement with ting is difficult for the period after 2020
Tesla Motors. Another important hot spot due to current lack of data for potential
is in Argentina’s northwest where Oro- mine extensions or construction of new
cobre operates the Olaroz lithium mine. mines. Increased exploration activities
Lithium production will increase per ton lithium carbonate. Either way, In this region and in nearby Chile, some by (smaller) development companies are
sharply this is a lucrative business for the pro- development companies like Millenial indications of the potential establishment
ducer because the mining costs at cur- Lithium and Lithium X are active and of new mines. Development of the lithium carbonate price
In 2015 the global lithium production (for rent projects are US$ 3,200 to 6,500 per were also be able to announce some gre- and transformational bull events
standardization reasons LCE = “lithium ton. Lithium hydroxide shows similar at results. (Source: Asian Metals, Navigant Research,
carbonate equivalent” a universal con- numbers. From a quantitative point lithi- Wealth Minerals)
version factor for all above mentioned um accounts for a significant part of a
lithium compounds) was approximately battery, but accounts for only roughly 4-5
175,000 tons LCE. According to projec- % of the costs of a battery. Hence the
tions, this number will increase to lithium price is relatively insignificant for
330,000 tons LCE by 2020. The latter is the production of lithium ion batteries
not based on concrete mine expansions and could be kept at an economic level
or new mines. for the lithium producer.
The price is always crucial but Development companies work
relatively negligible for the under high pressure at new
accumulator production! projects, …
In the end the price is only important for As the big companies Albemarle, SQM,
the economic extraction of the existing FMC and Tianqi have plans to increase
lithium deposits. In the past months the their production and at the same have no
price has risen sharply. In mid-2015 the interest in falling lithium prices, many de-
price for a ton lithium carbonate was velopment companies work on the ad-
around US$ 6,000 and has climbed to vancement of new lithium projects and
the presently over US$ 25,000 and surely the delineation of concrete deposits and
just a snap shot. We can assume that the resources.
price will settle, in the middle to long
term, between US$ 10,000 and 12,000
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Demand situation sible that Tesla will purchase the neces-
sary lithium from its previous cathode
partner Panasonic. On the other hand,
The demand is rising rapidly! there is the possibility to buy the needed
lithium hydroxide and lithium carbonate
One reason for the current rapid price directly from the relevant producer. The
development is a constantly rising de- company has closed relevant offtake
mand. In 2000 the demand was at appro- agreements with only two lithium develo-
ximately 65,000 tons LCE and reached pers in Nevada and Mexico. These two
184,000 tons LCE by 2015. For 2025, companies (Pure Energy Minerals and
experts are estimating a LCE demand of Bacanora Minerals plus their joint ven-
more than 530,000 tons! ture partner Rare Earth Minerals) will
most likely not start with production be- In the coming years, around 300 new electric
fore 2020 and satisfy only part of Tesla’s car models are in the pipeline
The driving factor will primarily be the de- demand. This indicates that Tesla has no (Source: Benchmark Mineral Intelligence,
mand from the battery and accumulator reliable lithium supplier between 2017 Nemaska Lithium)
sector in association with the automotive and 2020 and they still have to secure
industry. But also, the energy storage additional offtake agreements for the
sector will create an immense demand. time afterwards to guarantee acceptable
2015, only one third of the lithium de- prices and to become independent from
mand came from the battery sector; by middlemen like Panasonic.
2025 it will probably reach 70 %.
Additional giga-factories in the 2. The car manufacturers and (initially)
… but the action is elsewhere construction stage above all Tesla Motors, but also from
North America is Tesla by now! all other leading car manufacturers.
Country … Tesla is not the only lithium consumer 3. The producer of power banks i.e.
Although Tesla’s share at the global lithi- who plans a bigger production of lithi- decentralized energy storage units
Outside Asia, North America in particular um demand will be 10% after completi- um-ion accumulators. LG Chem has al- which are used in the private and in-
is dominating the lithium demand. Tesla on of its Gigafactory 1 it is already clear ready begun production for Chevy in Mi- dustrial sector where electricity is
Motors is playing an important part abo- that Asia will need much more lithium. chigan in October 2015. Also, Foxconn, produced by photovoltaic cells as
ve all. The company is constructing its so China alone accounts for one third of the BYD (largest producer of rechargeable well as wind power stations and used
called “Gigafactory 1” in Nevada. Since total demand, today. Experts estimate accumulators especially for cell phones), for their own needs.
2016 lithium-ion cells, battery packs, this will not change soon because China Lishen, CATL and Boston Power are buil-
(Source: McKinsey, Bloomberg New Energy electric motors and drive units for up to produces the most accumulators, batte- ding their own giga-factories for, among This constellation will increase the lithi-
Finance, Deutsche Bank, Wealth Minerals) 500,000 electric vehicles per year are ries, glass, lubricants, air conditioning other things, so called power banks, i.e. um demand by 100% and beyond during
built there. In the future it could be pos- units and synthetic rubber by far. This decentralized energy storage units. The- the coming 5 years whereby the power
stimulates the immense lithium refore, the produced capacity of lithi- banks will generate the biggest demand
consumption of the country. According um-ion accumulators could more than increase and could eclipse the other sec-
to expectations China will have the triple by 2020. tors.
strongest yearly increase in lithium de-
mand of all important market partici-
pants during the coming 5 to 10 years Summary demand side Conclusion
due to an expected tripling of the quan-
tity of rechargeable batteries. Additional The demand for lithium will be defined Currently, the lithium market is clearly a
important suppliers of lithium-ion batte- primarily by three different parties: supply oligopoly-market. This means few
ries including South Korea and Japan suppliers face many customers. Unlike
will also guarantee a robust increase of 1. The Asian electronic groups, which rare earth elements the market power is
the lithium demand. The highlights are aim primarily for the mass production not with one country (China) but with four
by far the electronic giants Sony, Panas- of powerful lithium-ion batteries and suppliers who have significant projects in
onic, Samsung, LG, BYD, Boston Power, accumulators for the daily use in mul- four countries: Australia, Argentina, Boli-
Lishen and CATL. timedia devices etc. via and Chile. Currently, several (smaller)
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Interview with Tobias Tretter –
Manager of Structured Solutions Lithium Index
Strategic Fund
Mr. Tretter you are the manager of the significantly reduced the cluster risk by
Structured Solutions Lithium Index doing so. Currently the resources graphi-
Strategic Fund. Which strategies do te, cobalt or magnesium are very interes-
you follow and what does the fund ting. For example, cobalt used as catho-
represent? de has some superior properties like a
faster recharging of batteries. But cobalt
The fund was established in 2010 becau- is not fully used by the battery producers
se we were aware of the potential for the because the biggest part of the global
resource Lithium at that time. We couldn’t production comes from the Congo and is
realize our original idea of a physical ba- thereby not a reliable source of this metal. Tobias Tretter has been active in the
cked certificate of the metal Lithium Also, the mining conditions in the Congo mining sector since 2000. During his
because of its specific properties; it is in- are very questionable and not only inves- activity at Dr. Jens Ehrhard Wealth
delible and cannot be stored in a safe. tors but buyers as well avoid this produc- Management he supported the
The only interesting possibility for our cli- tion. The demand for reliable sources and management of the DJE Gold &
ents was a public fund which invests di- ethically and environmentally clean mined Resources Fund, which was awarded
rectly into the 25 biggest producers and cobalt is enormous and will be another as the best performing commodity
developers of lithium deposits. We didn’t trend in the years to come. We have di- fund of 2003. From 2005 to 2008 he
want to invest directly into the battery versified the fund a bit more and will di- co-managed the Stabilitas Funds,
producers, because in contrast to the lit- versify even more in the future. Regarding which have been awarded as the
hium producers they will not profit from the risks we think that it is not too risky. "best performing Gold Fund" in 2006.
the higher lithium prices in the long term As soon as the trend weakens and other Since 2009, Mr. Tretter acts as CEO
but rather have to pay these. Our inves- resources due to a shift in demography or and responsible person for the
tors should have the possibility to benefit the reduced exploration activities, beco- Index- and Portfolio-Managements of
In the coming years, around 300 new electric directly from the coming boom for lithium me interesting the fund can be realigned Commodity Capital AG. He is
car models are in the pipeline brought on by the demand for lithium bat- at any time. The fund is a niche product managing the Commodity Capital
(Source: Scharfsinn/shutterstock.com) development companies advance and nificant market power but are possibly teries, based on electric cars or power and thought as an addition in a broad di- Global Mining Fund (ISIN:
try to bring to production good projects not interested in a lower market price. walls, without the risk of single invest- versified portfolio. If an investor believes LU0459291166), the Structured
not only in the previous production coun- This is the reason why smaller lithium ments. In the past year we rearranged the in the success of electric cars and power Solutions Lithium Index Strategie
tries but also in Canada, USA (above all companies will have very good develop- investment universe of the fund from pure walls he has the choice to buy shares of Fund (ISIN: LU0470205575) and the
in Clayton Valley a downright playground ment and production opportunities. Be- lithium investments to battery metals. We one or two companies in the sector or a Managed Accounts of Commodity
for lithium developers), Australia, Zim- sides, from a quantitative point lithium think that besides lithium the demand for specialized fund. Due to the specifica- Capital. Tobias Tretter holds a
babwe, Mexico, Serbia and some other accounts for a significant part of a bat- cobalt, magnesium, graphite or zinc will tions of the sector the investors should business diploma degree from the
countries. One reason is the rapidly gro- tery, but it accounts for only roughly 4-5 also increase in the coming years and we prefer funds or certificates to direct inves- University of Bayreuth.
wing demand which, in the course of the % of the costs of a battery. Hence the want to give our investor the possibility to tments in order to minimize the risk of a
electro revolution, is exploding. The low lithium price is insignificant for the pro- benefit from the lithium battery boom. single stock. That it can be useful having
price for crude oil is playing, if at all, a duction of lithium ion batteries and could a “niche product” in the portfolio for the
minor part because lithium is used above be kept at an economic level for the lithi- long term we could demonstrate last year
all as a medium for energy storage and um producer. The lithium companies Is such a fund which is focused at a with the receipt of the Lipper Fund Award
not for energy generation. whose projects are at a very advanced niche resource not too specialized and for the best resource fund of the past
On an overall basis a supply deficit is stage should see the biggest upward thereby too risky? three years.
emerging on the market from now on, price potential in the coming months and
because the demand increase will possibly consolidation that is via takeo- Yes and no. The fund is very specialized,
exceed the supply expansion in the fu- ver scenarios. but the success of the lithium sector con- In the past 10 years we have observed
ture. Because there is no end of the de- firmed that. We still see significant poten- once in a while the formation of
mand increase in sight past 2025 and Following we present a few of these acti- tial for the resource lithium but also see bubbles in “trend resources”. The
there are no big noteworthy lithium pro- ve lithium development companies. the demand for other resources needed uranium bubble and the hype around
duction projects in the pipeline, that con- in lithium batteries. Therefore, we have the rare earth elements, graphite etc.
dition could last for a foreseeable time. together with the restructuring of the fund comes to mind. Why should it be
In addition, the few suppliers have a sig- expanded our investment universe and different for lithium?
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