RE:RE:BYD is the first OEM domino to fall in mine buyingWell of course they won't have all 6 mines running at the same time. Commonn sense dictatces it will be a progressive development. Prices paid are not disclosed but it is far from a joke that they have taken this step. This is the type of decision that is made with a long term plan in mind. What is does clearly demonstrate is that the coming shortfall in lithium is no longer projections. It is here and now and very really. OEM can no longer wait for for usual routes to production. They are going to have to take the bull by the horns.
Throw in the nationalzation by Mexico and possible upcoming issues in Chile and Argentina having a U.S. source for your needs is paramount. The only drawback is that the problems getting battery metals may get so bad that it leads to OEM not being able to meet the markets needs. There needs to be some kind of balance. IMO Cypress may be timing this project at the absolute best moment in time to cash out at the peak of demand. It is not out the realm of possibility the get a peak premium paid by a desperate counterparty. Time will tell.