As demand for the lithium-ion batteries used to power electric vehicles increases, so too will the need for key battery metals such as lithium, cobalt and graphite, and up-and-comer nickel.
The green energy transition has taken over news headlines around the world, as governments and automakers look for ways to strengthen supply chains for raw materials.
For investors interested in jumping into the battery metals space, here’s a list of the top battery metals stocks on the ASX by market cap. All data was obtained using TradingView’s stock screener on August 24, 2021.
Lithium
1. Mineral Resources (ASX:MIN)
Market cap: AU$9.65 billion; current share price: AU$52.09
Mineral Resources is a leading mining services provider with a particular focus on the iron ore and hard-rock lithium sectors in Western Australia. Its current lithium projects include Mount Marion and Wodgina.
The Mount Marion lithium project, which is located in Kalgoorlie, Western Australia, is jointly owned by Mineral Resources and top lithium producer Jiangxi Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460). The asset was initially expected to produce 206,000 tonnes per annum (tpa) of spodumene concentrate, but a current upgrade project is underway to increase production to 450,000 tpa of all-in 6 percent spodumene concentrate.
In December 2018, the company entered a 50/50 joint venture with top producer Albemarle (NYSE:ALB) for its Wodgina hard-rock lithium project, which will produce spodumene concentrate and,...
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