Business
IGO’s $2b lithium play is a bet on the Tesla boom – The Australian Financial Review
Gold miner IGO wants to transform itself into a clean energy metals player with its $1.9 billion deal to buy into the country’s biggest lithium mine.
Despite the strong outlook for electric vehicles and other clean energy technologies best demonstrated by Teslas surging market value, which stands at $US615 billion ($830 billion) after rising almost 700 per cent this year concerns about oversupply have pushed the lithium price down to about half of what it was two years ago.
Mining industry theory says this is the time to buy, even if history says that in practice, too many deals are done at the other end of the cycle. And chief executive Peter…
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