The owner of Tesla, SpaceX and now the majority shareholder of Twitter responded to a tweet where he mentions how much the price of lithium has grown in ten years, since it cost 4,450 dollars a ton in 2012, this 2022 already exceeded 78,032, that is, it has been fired 17.5 times.
“The price of lithium has reached crazy levels! Tesla might have to enter mining and refining directly on a large scale, unless costs improve,” Musk said in proposing his own mining venture.
He highlights that there is no shortage of lithium per se because “it is found in almost all parts of the world”, although “the rate of extraction and refining is slow” and that increases costs.
Lithium is perhaps the most promising mineral in the world, since it has a direct application in the future of mobility and technology, since electric cars, cell phones and other devices have batteries made from this element to function autonomously, that is to say without being plugged in.
Not only has lithium increased in ten years. In the last year, the price rose radically by 459%, which has a direct impact on the manufacture of electronic devices.
For its part, Mexico is one of the countries with great potential to exploit lithium, although there is still no large-scale extraction and the Federal Government proposes this resource nationally.
Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining directly at scale, unless costs improve.
There is no shortage of the element itself, as lithium is almost everywhere on Earth, but pace of extraction/refinement is slow.
— Elon Musk (@elonmusk) April 8, 2022