Lithium sector needs $42 billion as pivot from China adds costs – MINING.COM

The sector will require $7 billion of investment each year from now until 2028, Benchmark Mineral Intelligence said in a report. That would help it meet forecast demand of 2.4-million tons a year by 2030, which is four times higher than the 600 000 t that's estimated to be produced in 2022. The forecast comes as Europe and North America look to reduce their dependency on Chinese imports and develop their own lithium production. That strategy that could require around twice as much capital than relying on getting the refined product from the Asian powerhouse, Benchmark said. China has enjoyed…