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Date : 01/03/2023

Best Lithium Stocks to Buy in 2023

According to Statista, the demand for lithium is forecasted to double by 2030, making it a highly desirable commodity and a popular investment on the Australian Stock Exchange (ASX). The majority of lithium mines in Australia, however, are only starting out or ramping up production, thus the lithium stockpiles in the country are still in their infancy.

As the world works to reduce its reliance on fossil fuels, investing in the finest Australian lithium mining companies may provide a significant boost to your portfolio’s returns.

Here are the best lithium stocks to buy this 2023:

Mineral Resources (ASX: MIN)

Australian mining company Mineral Resources Ltd. (ASX: MIN) is a major player in the global markets for both mining services/infrastructure and the production of commodities including lithium and iron ore. Recent years have been quite successful for the corporation in mining services, except for the commodities division, which took a blow from the drop in ore prices in the second half of 2021. Nevertheless, earnings are anticipated to grow 19.56% annually, and that is why Mineral Resources is our first pick for the best Australian lithium stocks on the charts.

Ioneer (ASX: INR)

Ioneer’s ASX lithium stocks is our second top pick for 2023. Ioneer Ltd (ASX: INR) plans to become a leading global supplier of lithium for the growing electric vehicle (EV) and battery markets in the United States. Rhyolite Ridge in Nevada, which is home to the continent’s greatest lithium and boron deposits, will serve as the site for the company’s new plant. The company is anticipated to post a final loss in 2024, but a profit of AU$48m in 2025 is in sight. 

Though there have been reports of ecological concerns at the site, the company is certain that it can work with the appropriate authorities to resolve the issue. Climate awareness and sky-high fuel prices, the Biden administration’s leaning towards decarbonization, and the DOE’s (Department of Energy) willingness to help fund projects that align with this policy have all been positive winds for the company.

Core Lithium (ASX:CXO)

Finniss Lithium Project, owned and operated by Core Lithium (ASX: CXO), is situated close to the Darwin Port in the Northern Territory and is positioned to become Australia’s next lithium producer. There is a high-quality lithium deposit in the Finniss Project, and it can be mined for another 12 years. Annualised earnings growth of 35.31% is expected from the company, and that is why CXO shares makes our top 3 on the list of best lithium stocks to buy this 2023.

Due to the project’s utilisation of simple DMS (gravity) processing, it has been hailed as the most cost-effective spodumene lithium venture to date. This method guarantees little initial investment and expenditures. Furthermore, among Australian lithium producers, Finniss has the best-suited logistical network and supporting infrastructure for supplying the high-demand Asian market.


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