CEO of Australia's PLS says government support could boost lithium supply chains
Global supply chains for lithium could benefit from collaboration among governments but any intervention on prices would need to be handled carefully, Dale Henderson, CEO of Australian lithium miner PLS, said on Wednesday on the sidelines of Brazil's COP30 climate summit.
China dominates global processing for lithium, an essential component for electric vehicle batteries and renewable energy storage. But weak demand due to slower-than-expected growth of the EV sector has sent prices plunging from their high in 2022.
Henderson said the growth of trading mechanisms such as futures markets should eventually help regulate prices for the industry. Australia is the lithium industry's top producer, followed by Chile and China.
"To the point about, should there be government intervention for price support, I think that needs to be carefully considered because it could actually support the wrong projects," he said in an interview.
He called for governments to boost support for supply chains outside China.
"It's about the government-to-government collaboration to support industrial parks and other trade agreements to bring forth and accelerate these new supply chains," he said.
PLS, formerly Pilbara Minerals, expects to release exploration studies for its Colina lithium project in Brazil in the second quarter of next year. From there it will make an investment decision, "depending, of course, on where the lithium market is at that time," Henderson said.
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