The Rise Of Tesla – What Now For The Worlds Lithium Production?
By Tom Pakenham-Walsh
Electric cars are revolutionising the motor industry as we know it. Tesla have successfully proved electric cars as a viable alternative to internal combustion engine (ICE) vehicles and now the world’s other major car manufacturers are signalling their intentions to transition towards hybrid and electric powered cars, Volvo recently announced that from 2019 it will stop making vehicles solely powered by an internal combustion engine. Over the past few months a succession of governments have brought in legislation to signal the end of the sale of new ICE vehicles in the next 15-30 years. Because of this new legislation, the mining industry is expected to experience a huge increase in demand for raw materials, especially lithium (due to its use in the battery production), over the next few decades. This increase is compounded by the world’s increasing population growth and technological advances. Analysts at Morningstar expect lithium demand to rise 16 per cent a year from 175,000 tonnes in 2015 to 775,000 tonnes by 2025, the fastest rise of any significant commodity over the past century. Geologists will play a key role in making sure the world is supplied with ample resources to meet its demands over the coming few decades.
Significant investment in exploration, production and development will be required to meet this demand. These billion-dollar investments are always underpinned by geological evaluations. An opportunity exists to improve the quality of available technologies to deliver better geological evaluations and help the world meet its lithium needs.
Oil and gas, mining and environmental companies need access to vast amounts of subsurface rock data. Currently professional workers across these industries lack access to technologies and tools that facilitate mobile, cloud based data gathering, interpretation and integration whilst encouraging collaboration and knowledge sharing between different roles within the organisation. Technologies that have been readily adopted across other industries with great success. Rocksolve is pioneering the development of cloud based technologies to help companies meet resource demands in these fast-changing industries.
To enable the development of a robust ecosystem that is inclusive and provides the opportunity for true global collaboration, Rocksolve is launching a digital token – Roin – to enable transactions on a blockchain platform. For more please go to https://roin.rocksolve.com/