The London Metal Exchange (LME) has recently announced the nine founding industry members representing the newly established Lithium Committee. Ron Mitchell, Sales Director of Tianqi Lithium's International Business Group, has been appointed as the inaugural Chairman of the LME Lithium Committee.
As the world's largest non-ferrous metal exchange, the LME has more than 140 years of history. Its prices and inventory have a profound impact on the production and sales of non-ferrous metals around the world. The new Lithium Committee established this year aims to represent and safeguard the interests of the electric vehicle value chain including the key segments of lithium raw material supply, battery materials component manufacturing and automotive production, by providing more transparent lithium price guidelines. In addition to Tianqi Lithium, the Lithium Committee also includes representatives from companies such as BASF, Tesla and Jaguar Land Rover, covering the sectors of lithium mining and conversion, chemistry, energy storage and automotive.
Commenting on his appointment, Ron said “On behalf of Tianqi Lithium I am pleased to have been appointed as the inaugural Chairman of LME Lithium Committee. As lithium will play an increasingly important role in our global society, the responsibility of this committee is vital in advancing an ethical and dependable supply chain for the future. Tianqi is a market leading supplier of high-quality lithium materials for the electric vehicle value chain and it is important that industry forums such as the LME can provide a broader platform to discuss and overcome bottlenecks that will allow the industry to flourish in the future. I look forward to working closely with the LME executive team and the foundation members as we commence this journey together.”
Earlier in 2019 the LME announced a partnership with the price reporting data provider Fastmarkets to offer a range of transparent global lithium prices. The main objective of this plan is to develop effective lithium price risk management tools by creating a more solid foundation for trading and liquidity in the lithium market and thereby increase funding and financing opportunities for industry growth. Prior to establishing the Lithium Committee, many industry participants including lithium producers, battery materials and automotive manufacturers were involved in discussions with the LME.
Ron has extensive experience in the global lithium industry and currently serves as Sales Director of Tianqi Lithium's International Business Group. Ron will work closely with the LME and Lithium Committee members in advancing the long-term sustainability and growth of the lithium industry.