Diamond & Specialty Minerals Summary for Oct. 5, 2023
2023-10-05 20:29 ET - Market Summary
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Canada Lithium problems since day 1 have been the cost of electricity to create battery grade. Why do billions get given to big major mining companies? Because the seasoned mining people cut deals with government to get free energy. Even in BC, the Natural gas running through the pipeline is given away for free most days because there is no storage. Go and check Hydro Quebec and see how much of the transmission line energy is wasted because electricity cannot be stored--- big mining wheels can't figure that out and get it for free?
At the moment the world is buying 6% grade Lithium concentrate, or auction off lower grade material. The buyers are plants set up in some dirt hovels where electricity is free and kids running around everywhere barefoot, including their mommas.
Posted by oh at 2023-10-06 09:34