Pilbara Minerals CEO Says the Bid for Liontown Points to Positive Outlook for Lithium Mining Industry

Dale Henderson, chief executive of Australian lithium miner Pilbara Minerals Ltd., said Liontown had emerged as a takeover target after rejecting three bids from world-leading lithium producer Albemarle Corp. in five months. The high volume of bidding activity reflects broad optimism about the lithium mining industry. "There's a lot of demand for sphalerite in China and demand is more widespread around the world," Liontown CEO Tony Ottaviano said in an interview with Bloomberg Television on Wednesday. Meanwhile, Pilbara Minerals said earlier this year it would nearly double production by the end of 2025 to meet soaring demand for lithium, a key electric vehicle battery metal.