Exploration budgets for lithium and cobalt have rebounded in 2021, with the lithium budget increasing 25% year over year to $249 million and cobalt increasing 27% to $70 million. Despite the increases, both budgets have failed to return to their pre-pandemic levels, unlike other metals such as copper and nickel.
Moving into 2022, higher prices are encouraging junior explorers to seek new discoveries, and interest is growing among the majors due to the global shift towards decarbonization. Both will pave the way for a brighter future for lithium and cobalt exploration.
Gain vital insights into lithium and cobalt exploration trends:
- Review exploration budget and commodity price trends from 2010-2021
- Year-over-year budget changes by region, company type and development status
- Outlook for 2022 and beyond
