Fund managers and analysts warning about a glut in lithium that has cratered prices and forced miners to suspend operations could be worsened if the federal government’s plan to stockpile critical minerals includes the battery material.
The potential threat to the lithium price follows news that the Albanese government is effectively looking to underwrite the development of critical minerals projects by establishing a strategic reserve, in a move designed to lessen Australia’s dependency on major producer China.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.