Australian share market investors are set to benefit from putting their money into mining companies that specialise in the extraction of a key material needed for electric car batteries.
Australia’s lithium exports in the year to June surged by 737 per cent to $2.632billion. Exports of this mineral multiplied by eight times from $314million when the June quarter of 2023 was compared with the June quarter of 2021, new Australian Bureau of Statistics data showed.
Australia is also the world’s biggest exporter of lithium – accounting for 46 per cent of the world’s supply in 2020.