Driven by growing demand for electric vehicles, whose batteries need lithium, Australia expects exports of this metal to grow four-fold to A$19 billion come 2028, which makes this on par with thermal coal.
UOB Kay Hian’s John Cheong has kept his “buy” call and $1.10 target price on Civmec (SGX:P9D
) , following news that the Australia-based contractor has won A$100 million ($89.8 million) worth of new contracts, bringing its order book to A$1.2 billion.
One of the contracts is to build and assemble 25 tanks for lithium producer Albermale Lithium, described as a “blue chip” customer of this industry.
