Nevada weighs in on the Lithium ‘Gold Rush.’

It is no secret that lithium prices are booming. The price has risen from US $6,75/kg in January 2021 to US $57/kg in February 2022. The current price as of 30 January 2023, at US $70,30/kg, while down from a high of nearly US $85/kg in November 2022, shows no signs of significant weaking as the demand for the metal soars.

Lithium is a critical component in the lithium-ion batteries required to power electric vehicles and electronics into the new green energy future. Concerns about energy security have prompted both the US and European communities to either promote and subsidise the mining of critical minerals locally or establish trade agreements with allies internationally.

America has pinned its focus on Nevada. Nevada has a rich history in mining and large reserves of lithium. Thacker Pass in Nevada contains the largest lithium deposit in the United States and while there are legal challenges outstanding presented by conservation groups and Native American tribe members, it is predicted these issues will be negotiated and resolved within a couple of months.

Germany has turned to Chile in the hope of securing an adequate lithium supply to facilitate the manufacture of electric vehicles for the likes of Mercedes-Benz and Volkswagen. In competition with China for Chiles lithium, Germany hopes it’s offer to base more production locally and reduce the environmental impact of mining will sway a larger share of Chiles production their way.

Globally there is concern that Chinas hold and excessive influence over the critical mineral commodity market needs to be curtailed. The negative consequences of Germany’s heavy reliance on Russians fossil fuels is fresh in the mind of German Chancellor Olaf Scholz as he negotiates a sustainable future for Germany. Independence from China in terms of critical minerals is crucial going forward.

As processing moves from China to locally based facilities in South America, North America and beyond, internationally and locally e.g. Nevada, mining recruitment and employment opportunities will increase. Already Nevada has secured both Tesla and Panasonic as they set up operations in Nevada alongside other lithium supply chain counterparts.

GateSource HR has the international experience to connect your company to the global talent pool available for placement both locally and internationally. To discuss your International and Nevada Mining Recruitment Solutions please contact us.