Ken Brinsden targets US$2,500 per tonne for long-term lithium prices as demand expands
PMET Resources CEO Ken Brinsden argues that sustained demand from batteries and grid storage requires significantly higher lithium pricing than current forecasts suggest.
Ken Brinsden, CEO of PMET Resources, states that long-term lithium prices could reach US$2,500 per tonne as global demand grows. Brinsden spoke at the Resources Rising Stars conference in Queensland last month regarding his company's development of the Shaakichiuwaanaan mine in Western Australia. He argues that both electric vehicles and large-scale battery storage are driving a shift from expected long-term surpluses to potential deficits. Spodumene concentrate, a key lithium material used in PMET operations, traded at approximately US$3,000 per tonne in May 2025 before dropping to around US$2,115 due to falling futures prices in China. This volatility occurred alongside a surge in demand that pushed the metal's price from a low of US$575 per tonne in mid-2025. Benchmark Mineral Intelligence adjusted its long-term real forecast upward, moving from US$1,235 per tonne in Q2 2025 to US$2,465 per tonne in Q2 2026. PMET plans to release a study on the major Shaakichiuwaanaan project in Q4 2026. While lithium demand continues to rise at about 30% annually, Brinsden insists that existing pricing models fail to account for the sustained costs required to support the expanding industry.
