Lithium miners snap up Australia land

PERTH, Australia — A scramble by the lithium market’s biggest players to tie up the supply of the metal is gathering pace in the 170-year-old heartland of Australia’s $90 billion mining industry. Rising Chinese demand for lithium- ion batteries needed for electric vehicles and energy storage is driving significant price gains and an asset boom in Australia, already the world’s largest lithium producer. The fastdeveloping hub is drawing investment and deals from global producers as well as chemical-to-battery manufacturers in China, the top consumer. Western Australia has four operations in production and three more major projects being advanced to begin output. Major players are likely to continue to scope for deals in the state to secure supply for the next 20 or 30 years, according to consultant Benchmark Mineral Intelligence. “There are serious companies investing and people are starting to lock up the biggest, long-life resources. The question is — who’s next?” Simon Moores, managing director of Benchmark Mineral, said by phone from London.