The CEO of Lithium Africa is making a case for investing in lithium during the current bear market, saying recent moves by major players such as Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) indicate confidence in the market's longer-term potential.
“(Rio Tinto) is the second biggest miner of commodities on the planet. And late last year, they did the Arcadium Lithium transaction, which is the second largest transaction in corporate history, and they've picked lithium,” Tyron Breytenbach said during an interview with the Investing News Network.
“Shortly after that, they followed on with a big, multibillion-dollar investment in Chile. Again, the commodity they picked was lithium.”
Lithium Africa is advancing a portfolio of lithium exploration assets in Africa, and has established a strategic partnership with Ganfeng Lithium (OTC Pink:GNENF,HKEX:1772), a major producer of lithium battery products.
Breytenbach said Ganfeng sees the company’s potential to make a discovery and become a low-cost source of lithium. In return, Lithium Africa can take advantage of the capital and chemical expertise Ganfeng offers.
“We're planting the seeds now that investors are going to reap when the next (lithium) bull market comes back … And I think when the market comes back, we're going to be the leader in Africa,” he said.
Watch the full interview with Tyron Breytenbach, CEO of Lithium Africa, above.
