Lithium is one sector of the mining industry that is charging ahead, according to share market entrant Lithium Power International.
Shares in the lithium explorer have soared since opening for trade on Friday, up 25 per cent in a market that is significantly lower due to fears Britain is on the verge of exiting the European Union.
Its lithium projects include targeted areas in the Pilbara and Greenbushes regions of Western Australia, and the major lithium province of Salta in Argentina.
Chief executive Martin Holland says there is a lot of lithium - a key component of battery technology in mobile devices, electric and hybrid cars - around the world, but much of it cannot be extracted economically.
"Lithium or lithium ion batteries, which go in the (electric) car, is probably the real reason why people are getting behind this commodity," he said.
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"The price of the commodity has run from $US4,000 a ton this time last year to over $US20,000 a tonne.
"That's mainly because of the shortage of overall world supply of the commodity."
Mr Holland said many small gold explorers were now shifting into lithium, with demand set to soar in China.
LPI's Australian assets have the advantage of being near rail lines and ports, making it easer to get the lithium to market, he said.
LPI raised $8 million with a heavily subscribed offer of 40 million new shares at 20 cents each.
Its shares were up to 25 cents at 1345 AEST.
