Top Performing ASX Lithium Shares in 2025
In the dynamic world of renewable energy, the Australian lithium market is making a comeback in 2025, driven by the surging global demand for electric vehicles (EVs) and battery storage. This revival follows a period of price lows, with key players such as Jindalee Lithium, Anson Resources, Liontown Resources, Future Battery Minerals, and Argosy Minerals leading the charge.
On July 11, Argosy Minerals announced that detailed engineering and feasibility works to develop a 7-kilometre electric transmission line capable of supplying up to 40 megawatts of energy to Rincon are underway. This development is part of Argosy's focus on advancing its Rincon lithium project in Salta Province, Argentina. On June 27, Argosy Minerals also announced a lithium carbonate spot sales contract with a Hong Kong-based chemical company for 60 tonnes of 99.5 percent lithium carbonate.
Jindalee Lithium, listed on the ASX, stands out due to its McDermitt lithium project in the US. This project benefits from fast-tracked US government permitting, recognising it as critical to the US minerals supply chain. Jindalee also has a partnership with US-based LiChem for lithium refining technology, indicating a push towards downstream processing.
Anson Resources, another ASX-listed company, has completed a direct lithium extraction pilot program with Koch Technology Solutions, producing 43,000 gallons of lithium chloride eluate with an average lithium recovery of 98 percent from brine extracted from its Green River lithium project. Anson Resources currently has a year-to-date gain of 57.14 percent and a market cap of AU$145.61 million.
Lithium prices have been pushed to multiyear lows, with battery-grade spodumene trading under US$800/tonne. However, this trend is expected to reverse as high-cost supply exits and demand catches up, with spodumene prices forecast to rise toward US$1,150/tonne by 2027 and long-term deficits emerging by the end of the decade, according to Goldman Sachs.
Liontown Resources, with a year-to-date gain of 75.47 percent and a market cap of AU$2.34 billion, is currently transitioning from open-pit to underground mining operations at Kathleen Valley. Future Battery Minerals, on the other hand, completed its gold-focused Phase 1 reverse circulation drill program at Miriam's Forrest and Canyon prospects on July 22 and acquired the remaining 15 percent interest in the lithium rights at Miriam on May 19. Shares of Future Battery Minerals reached a year-to-date high of AU$0.029 on July 25.
Argosy's Rincon project currently holds a JORC total mineral resource estimate of 686,875 tonnes of lithium carbonate. Shares of Argosy surged 79 percent on July 3 to AU$0.034 due in part to the sales contract news and increasing positive sentiment in the sector.
The Australian lithium market faces volatility but is set for growth as supply tightens and prices stabilise. Companies are implementing technologies for sustainable and efficient operations while managing supply chain and environmental challenges, which could improve long-term competitiveness. Current valuations reflect discounted production capacity amid price pressure, but fundamentals are strong due to the growing EV market. Investors should monitor lithium price trajectories and supply adjustments for outlook clarity.
[1] Global Lithium Demand to Increase by 18% in Australia in 2025 [2] Jindalee Lithium Secures US Lithium Refining Technology Partnership [3] Australian Lithium Stocks Rally as Prices Rebound [4] Lithium Prices Rebound as Supply Cuts Bite [5] Lithium Prices to Rise Toward US$1,150/tonne by 2027
- In relation to the anticipated surge in global demand for electric vehicles (EVs) and battery storage, Australia's lithium market is poised to experience a significant 18% increase in 2025.
- Jindalee Lithium, a key player in the Australian lithium market, has secured a partnership with US-based LiChem for lithium refining technology, indicating a strategic push towards downstream processing.
