元大京-锂池行业研究-.pdfVIP

Greater China: Electric Utilities 2 February, 2010 Min Li China Alternative Energy +852 3969 9521 min.li@ Wendy Wang Finding Lithium - The Fuel of Future +852 3969 9519 wendy.wang@ Lithium, no other metal is 1) as lightweight, 2) better at holding a charge, or 3) as good at dissipating heat. These properties make lithium the best substance known for manufacturing electric car batteries (lithium-ion batteries). In 2008, batteries accounted for 25% of lithium usage globally, and we expect demand for lithium from the battery segment to grow at a minimum 16% CAGR over the next five years. Lithium Carbonate: Mining a future fuel Lithium carbonate is the most important raw material for Lithium-Ion batteries; however, lithium production has not been able to keep up with demand. Lithium carbonate comes from two major sources: hard rock mineral deposits, such as spodumene, and lithium-rich salt lake brines. Lithium carbonate production is dominated by a few companies. In 2008, SQM, ROC and FCM accounted for around 90% of brine production and 60% of the total