I take a deep dive into Ganfeng's history and what drove their success. I question why the world's largest lithium company, Albemarle, doesn't have the same vision and ability to get things done as Ganfeng. The episode opens with MLC CEO Paul Hogan briefly explaining why lithium may be a significant part of his company's future.

Over the years SQM has declined multiple invitations to be a guest on the podcast. I am devoting this episode to my thoughts on SQM: past, present and future.

My guests are Gene Morgan and Clint Van Marrewijk, founders of brinefield services provider Zelandez

Clint is @Clint_Van on Twitter/X

Topics:

The "Schlumberger" of lithium

Speeding up brine projects

"ErLi" - modular lithium production

The impact of price cycles

Operating in Argentina vs Chile vs Bolivia

Water use

The Zelandez treasure trove of brine data

DLE and brine reinjection

The team and the culture

The "BFT"

Challenges working at altitude

To "BG" or not to "BG"

Competition

Rapid fire

In this episode I give my current thoughts on price as well as discussing my past calls both good & bad. I explain how I believe China has taken control of the lithium price narrative and the spodumene market, why I think brine based lithium returns to the lithium pole position in the coming decade and then I answer listener questions on everything from Canada, to what I invest in, to Brazil's lithium future to solid state batteries potential impact on the lithium supply chain.

I likely repeat myself a few times given that tends to happen when I talk for 40 minutes without a script.

This episode includes three guests: Mac Whale of Cormark, Cole McGill of Stifel and Daniel Jimenez of iLi Markets.

I joined the group on a site visit to Minera Exar's Cauchari operation. Minera Exar is a JV between Lithium Argentina and Ganfeng located in Jujuy Province, Argentina.

We discuss what we saw and how each guest evaluates a project that is ramping up:

1) What were they key questions they wanted answered?

2) What was their overall impression of the project?

This episode is brought to you by Zelandez and Mississippi Lime.

Michael Dunne (@dunne_insights) on X/Twitter is the CEO of Dunne Insights a global intelligence & advisory service that provides insights on EVs, batteries, and charging with a particular emphasis on Asia.

Topics:

Son of a "car spy"

China's lead in EVs

The demise of Detroit in China

Can the west catch-up?

BYD - the early days

China's other EV suppliers

CATL's significance

Can the US be a meaningful battery supplier?

Toyota's hybrid strategy

Should China be allowed in the US market?

Advice for POTUS

BYD in Brazil

The Art (of EV) War

How China out negotiates competitors

Vin Fast in the US

Rapid fire

This episode is brought to you by Zelandez and Mississippi Lime. It is the audio of a presentation I gave in late March at the Future Facing Commodities Event in Singapore with some additional commentary. The presentation slides can be found at: www.globallithium.net/articles

Topics:

In the beginning there was North Carolina hard rock

Questions you should be asking about the lithium market

Where did 2023 "oversupply" come from?

China battery players influence on lithium price

Increasing capital intensity

The cost curve

Negative sentiment

Demand: all about batteries in 2024

Lithium price: a many splendored thing

Bottom "price" fishing

Supply

"Swing supply"

This cycle vs the last one

Do the work!

Jon Evans (@jdevans4005 on X) is the CEO of Lithium Americas and one of the most influential leaders in the lithium industry.

Topics:

Building Thacker Pass – the largest lithium resource in

The team

The project timeline

Lessons from Cauchari

Lithium through a national security lens

GM as a partner

LFP in the US

Lessons from the DOE loan process

The importance of LAC’s Tech Center

Partnering with local stakeholders

The lithium market

Dealing with the anti mining crowd

Improving price discovery

Why Jon didn’t take the easier career path

Motivating the team in hard times

Rapid fire

Seth Goldstein (@SethGMStar1 on X) is an Equity Strategist and Chair of the Electric Vehicle Committee at Morningstar. This is his third appearance on the podcast.

Defining a top pick at Morningstar

Why Seth believes the lithium stocks he follows are

Bullish on LAC and Thacker Pass

LAC’s DOE loan

Incentivizing a North America battery supply chain

Lithium Argentina’s impressive start-up at Cauchari

Seth’s candid thoughts on Albemarle & their price

SQM & Arcadium

Arcadium’s long struggle with expansions

The global EV growth story

The politics of EVs in the US

BYD & Tesla

Lithium prices

CATL’s inventory “tells” & the impact on lithium demand

Lepidolite costs

ESS

Rapid fire

Andy Leyland (@andyleyland1 on X) is the founder of Supply Chain Insights (@insights_SC on X). Andy has deep experience in all aspects of the lithium ion battery supply chain.

Topics:

What Supply Chain Insights does

2023: the "rebalancing" year

The lepidolite spectrum

Lithium demand - still robust

The turnaround in ESS

Sodium ion batteries

Oversupply

Inventory levels

The future of conversion in China

Brine: "Argentina's race to lose"

Two ways of looking at price

Why is lithium forecasting so bad?

Getting info from China

Incentive prices

China's domestic lithium potential

ESG hypocrisy

Who actually paid $80/kg for lithium?

Do fixed price contracts make a comeback?

Recycling

The SCI price forecast

Rapid fire