Lithium producer Vulcan Energy’s 5000% stock price gain
The electric car revolution has heralded a new golden age for lithium producers, driving rising global demand for the dream material used in the batteries that power EVs.
The stock price of Perth based lithium prospector Vulcan Energy Resources has climbed about 5000% over the last year. Its goal is to become the world’s first zero-carbon lithium producer via a cutting edge facility planned for construction in Western Germany.
CEO Dr Francis Wedin has told Brooke Corte that Vulcan stands to reduce the European auto industry’s reliance on lithium sources from China.
“China controls 80% of the world’s lithium hydroxide market, and desperate is not an understatement to secure local supply of lithium hydroxide, this is critical for the automotive industry in Europe,”
“We’re aiming to produce the world’s first zero-carbon Lithium product, producing lithium from a geothermal brine which is a source of renewable energy which we use to power our lithium production process,
“We’ll actually become a net exporter of renewable and a lithium produce at the same time and not use any fossil fuels in the process,”
Click play to hear the full interview: