Watch: Benchmark Minerals’ Managing Director, Simon Moores, discusses lithium, batteries and electric vehicles on Al Jazeera News

Benchmark Minerals’ Managing Director, Simon Moores, recently appeared on Al Jazeera News to discuss lithium, batteries and electric vehicles.

Asked whether there is enough lithium to meet electric vehicle demand. Moores said, “Lithium isn’t rare. The question is getting it out of the ground in economic quantities. At the moment the lithium industry has gone through a surge in exploration and development, but right now there’s not as much investment going into the lithium industry to go beyond 2025.”

When asked whether there were dangers of oversupply as new resources come online Moores said “It takes anywhere between eight and ten years to build a lithium mine from scratch and to get it ramped up without any problems and that’s the biggest challenge for lithium. The investment has gone in up to the mid-2020s, but really the surge in electric vehicle production is coming after that point and there’s a big question mark over where the money is going to come from for all these future lithium mines.”

Watch the interview with Al Jazeera News here:

On China’s role in the lithium supply chain and whether it should be a concern to other countries, Moores warned “It has to, especially for the US. For certain parts of the supply chain.”

He explained, “we’ve got 1.9 terrrawatt hours of battery capacity by 2029, it sounds a lot – it means about 35 million electric vehicles. But where is that capacity being built out? It’s China. 67% of this battery capacity is in China. How much is in the US? It’s about 8%. If you take Tesla and their huge gigafactory out of the equation the number becomes 3%. So the US really should be concerned about these supply chains and it is playing catch up with China.”

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