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Global lithium ion battery market to surge to US$60B by 2027

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    The global lithium ion battery market is expected to grow sixfold over the next decade, according to ASX-listed Battery Minerals Ltd.

    Executive Chairman David Flanagan told delegates April 27 at the Australian Graphite Conference in Perth that the scope of the lithium ion battery market opportunity should not be underestimated.

    "This market was worth around US$1 billion last calendar year and industry experts are putting a total value on it by 2027 of around US$60 billion," he said.

    "Of this total sector, at least half of that value, or some US$30 billion, will come from the actual materials market required to provide componentry for the batteries.

    "These growth trends will also evolve at a time the renewable energy battery storage market will rapidly revolutionize the energy sector, and with that, the opportunities for commercial and domestic battery technologies to be central to that growth."

    Battery Minerals is preparing to mine a 2,000-tonne bulk sample from its graphite projects in Mozambique from May for process test work at its planned stage one spheronising graphite plant in Nevada. Spheronising graphite is used as the anode in lithium ion batteries

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