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Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Henk van Alphen, CEO, Wealth Minerals Ltd..
As the lithium market begins to bottom out, Citi projects a significant price surge of 20-25% in the coming months due to tightening supply.
In 2023 and 2024, lithium carbonate prices have shown significant volatility. They dropped dramatically from highs of $81,360 per ton in late 2022 to around $20,000 per ton as of early 2024—a decline of nearly 75% from peak levels. This decrease is largely attributed to oversupply, especially in China, and a slowdown in electric vehicle (EV) sales in key markets like China, contributing to reduced demand for battery metals. Despite lithium’s rollercoaster ride, some bullish analysts see positive times ahead for the energy metal.
Shaun Cartwright, Anadara Asset Management believes that lithium prices will rebound sharply in 2024 with Benchmark Mineral Intelligence bullish on the long-term outlook for lithium. Cartwright emphasizes the importance of the miners’ ability to meet delivery expectations, pointing out that global lithium supplies are expected to face a significant shortfall as the world pushes toward net-zero targets.
“A combination of reduced supply from key producers and an anticipated surge in demand, driven by the ongoing shift toward renewable energy and electric vehicles (EVs), is creating an upward pressure on lithium prices,” says Henk van Alphen, CEO, Wealth Minerals Ltd., (TSX.V: WML | OTC: WMLLF | FSE: EJZN) a Vancouver, BC-based mineral resource company whose focus is the acquisition and development of lithium projects in South America.
“Several producers have recently curtailed their supply, either due to high extraction costs or environmental concerns, which has decreased available lithium in the market. Global demand continues to rise steadily, particularly from the EV sector, where lithium-ion batteries remain the dominant energy storage solution,” adds van Alphen a coveted energy metals guest who has been interviewed by Fox Business Network, CNBC, and Bloomberg.
Van Alphen founded Wealth Minerals in 2005 and has served as President, CEO and Director since that time. He has raised $200 million in the last 10 years and has been closely associated with financing an additional $800 million.
Lithium miners and producers, such as Pilbara Minerals and Albemarle, are also confident that while current prices have dropped due to oversupply and a slowdown in EV production, the long-term fundamentals remain strong. They foresee a rise in prices as the market corrects, with significant demand spikes projected for the latter half of this decade.
Lithium miners and producers, such as Pilbara Minerals and Albemarle, believe current prices have dropped due to oversupply and a slowdown in EV production but that the long-term fundamentals remain strong. They foresee a rise in prices as the market corrects, with significant demand spikes projected for the latter half of this decade.
Wealth Minerals social media accounts are:
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