Mineral Resources boss Chris Ellison declares lithium prices have hit the bottom

Mining billionaire Chris Ellison has called the bottom of the lithium price slump, saying he expects increasing demand for the battery metal to push up prices over the next few months.

While analysts have been speculating the market could finally be on the way up after spending the best part of the year in the doldrums, the Mineral Resources boss said there was “no question that prices have bottomed out” on Wednesday.