Rhyolite Ridge lithium deposit not like the others: Tour shows Nevada mine site
Andrew Woods, director of UNLV’s Center for Business and Economic Research (CBER), agreed that the long-term outlook is for higher demand.
“Mining in Nevada is looking at the long run demand over 10-30 years, which is still expected to grow. If we were still living in the world of January 2nd, 2025, I would say all else equaled, we’d see the downward pressure on prices of lithium stabilize as steady demand eases the supply glut. 2024 was a record year for EVs being a share of the global automotive market and the start of 2025 globally was okay for the industry,” Woods said last week from Quebec, where he was meeting with academics and universities as part of the Nevada Tech Hubs agreement.
“But with tariffs and a trade war, it introduces a lot of uncertainties that may have unintended consequences,” Woods said. “Some of that could be good for mining in Nevada, if the demand for onshoring ticks up.”