Trade in lithium is largely centered around key lithium raw materials and chemicals such as spodumene concentrate, lithium carbonate and lithium hydroxide which vary significantly in their lithium content. In parallel with this, reference data relating to lithium grades in mineral assays and ore resources and reserves for hard rock and brine projects are also reported using a number of differing measurement units, e.g. ppm Li and percentages of Li, Li2O, or lithium carbonate. To normalize this data, market participants will often also report data in terms of “lithium carbonate equivalent” or “LCE” so that information can be easily compared on a like-for-like basis. Conversion to LCE is based upon the formulae in the table below.
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