Lithium shares on the rise
SHARES in lithium have soared, with Galaxy Resources up 24pc, Orocobre Ltd up 34pc and Pilbara Minerals posting a rise of 19pc. Mineral Resources also increased 2.4pc to $17.39. The boost for the lithium market comes as the Chinese government announced yesterday that it would hold back on reducing subsidies to the electric vehicle industry. Industry and Information technology Minister Miao Wei said that the subsidies, which have been cut steadily since 2018, will not be cut this July. This follows a marked drop in sales of electric vehicles since the subsidies, first introduced in 2009, began to be phased out. The surge is also hitched to Tesla’s delivery of its first Chinese made Model 3 cars. Tesla has revealed…