Solar farms have been more costly to deliver electricity than natural gas or coal because of the cost of storage and downtime at night, However that is changing with the falling cost of batteries a recent report shows.
Electric vehicle and storage company Tesla reported another huge loss with Q2 earnings Wednesday. $TSLA showed higher revenue with total vehicle production up 55% sequentially and shipments up 80%. The cash burn rate is picking up however.
Australian lithium producer Talison Lithium announced that its plans to double its production at its Greenbushes facility in Western Australia. The expansion for $382 million will raise capacity to around 1.95 million tons per year and expected to start work in 2019.
Western Australia in response to the 2017 sales of spodumene, the primary lithium bearing mineral produced in WA soaring 166% to reach A$780-million announced a taskforce to harness the potential for lithium and other energy materials.
The lift in iron ore prices, liquefied natural gas (LNG) volumes grew and robust gold output proved a boon to Australia’s mining sector’s recovery. Western Australia’s resources sector surged 16% in sales revenue during 2017 to A$108.8 billion.
The rise in the yen has added to Japan’s Soga Sosha financial strength. The trading houses search for suitable asset plays in the commodity sector, wary of debt financed plays and high prices they are looking for cash spends.
Electric vehicle company Tesla reported another huge loss with Q4 earnings Wednesday but points to “a transformative year” ahead. $TSLA says they are “on the cusp of a step change in the world’s transition to sustainability.”
Sociedad Química y Minera de Chile $SQM finalized a deal to expand production at one of the biggest sources of lithium in a drawn out deal with the Chilean economic development agency (CORFO). The deal saw Lithium producer’ stocks sold off hard on new supply.