Iran says it's discovered a massive deposit of lithium — a key element in batteries for devices and electric vehicles — in one of its western provinces. CNBC
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Isolated from the global financial system, Iran continues to draw penalties from Western nations that accuse Tehran of supplying Russia with weapons that are being used in its war in Ukraine. Iran's government has also spent nearly six months cracking down violently on women's rights and anti-government protesters.
Iran is also one of the world's top producers of oil and gas, but its inability to export widely due to sanctions has slashed its ability to bring in revenue and FX as well as its ability to contribute to global supply."Over the next 9-12 months, we are progressively more constructive on base metals, whilst expecting a move lower in lithium prices alongside cobalt and nickel," a report from the bank's commodities research desk from late February wrote.
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