Global sales of electric vehicles in the 10 months to October 31 were 33 per cent higher than the same period of 2022, but in the world of lithium, that’s considered underwhelming. The slump has been driven mostly by weaker than expected demand. Reality has bitten hard Australian spodumene concentrate was selling for $US1675 a tonne this week, according to prices published by Benchmark Mineral Intelligence. That’s what most stockbrokers were thinking in May, after a year in which the price had tested $US8000 a tonne, according to some price providers.īy July 3, the Department of Industry predicted that Australian miners would get $US2740 for each tonne of lithium-rich spodumene concentrate they sold in 2024, and about $US2149 a tonne through 2025. If Dr Chalmers had included a lithium price forecast in the May budget – which he didn’t – he might have settled on something like $US3000 a tonne. If lithium is to one day supplant iron ore as the nation’s most lucrative export commodity, these next few months might be remembered as a crucial rite of passage. Just as they did a decade ago in coal and iron ore, Australian miners are starting to talk about working together to create a new price discovery platform that could provide less volatility and more transparency. Just as they did a decade ago in iron ore, lithium investors are now fretting whether “high-cost” Chinese producers will act rationally and curtail production when lithium prices dip below their cost of production. Atlas Iron is now owned by Gina Rinehart, who has spent billions this year disrupting foreign attempts to acquire Australian lithium mines.Īnd, the man who replaced Flanagan at the helm of Atlas Iron, Ken Brinsden, is now lithium royalty after solid innings at Pilbara Minerals and Patriot Battery Minerals.Īustralia’s next big lithium producer, Liontown, is run by former BHP iron ore heavyweight Tony Ottaviano, while the nation’s biggest iron ore exporter, Rio Tinto, has acquired undeveloped lithium assets in Australia and Argentina.Īll that experience with Australia’s most lucrative export commodity would have been helpful this week, as slumping lithium prices triggered the sort of mass anxiety usually reserved for crashes in the iron ore price. One of the many lithium explorers that have MinRes on their share register is Delta Lithium, the company Flanagan ran until Ellison pushed him out in September. The Wodgina ore was crushed and processed by Chris Ellison’s Mineral Resources, the same company that now runs Wodgina as a lithium asset and claims to be one of the world’s top five lithium extractors by volume. A decade ago, it was better known as an iron ore mine run by David Flanagan’s Atlas Iron. Take for instance Australia’s third-largest lithium mine, Wodgina. But three references to lithium in the same document provided a symbolic reminder of the changes under way in the Australian mining industry and reminders of the iron ore boom are hard to miss as the country’s lithium sector matures. Sure enough, iron ore was mentioned 28 times in Dr Chalmers’ budget strategy and outlook paper this year. When Canberra’s deciduous trees transform in the month of May, budget watchers have traditionally gone red in the face talking about iron ore prices as the biggest variable affecting federal revenues. We do not frown on weights or barbells as another tool for training.Lithium had never scored a mention in the federal budget papers until Treasurer Jim Chalmers took control of the national purse. No advertising / Limited Self-promotion - See full self promotion rulesīodyweight Fitness is for redditors who like to use their own body to train, from the simple pullups, pushups, and squats to the advanced bodyweight movements like the planche, one arm chin-ups, or single leg squats.Any post that does not conform may be removed with no warning. Provoke discussion (see the full guidelines for details).These are serious topics that should be addressed by a qualified therapist and/or a nutritionist. Additionally, no body image, eating disorder, mental health, or minor diet advice either. No medical, injury, or pain related posts (try /r/AskDocs or see a sports orthopedic doc or sports physical therapist).Use the search, and read the FAQ and the /r/fitness FAQ before posting.Read the Frequently Asked Questions page! Posting Rules See the BWF Wiki for more programs Welcome to /r/bodyweightfitness! □ New to BWF but not new to fitness? Try the Recommended Routine (RR)
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