One of the biggest movers on the market today was the Pilbara Minerals Ltd (ASX: PLS) share price.
The lithium miner's shares finished the day with a 12% gain to 56 cents.
This latest gain means that the Pilbara Minerals share price is up almost 44% in just one month.
Why have its shares rocketed higher?
The company's shares have been on a tear since it announced on September 7 that open pit mining would commence in the fourth-quarter of 2017.
This means that the company remains on track to achieve its goal of delivering its first shipment of spodumene concentrate to its customer base in China during the second quarter of 2018.
Which in many respects is perfect timing. Lithium demand is expected to grow strongly over the next decade as governments across the world push for increased adoption of electric vehicles and renewable energy.
The United Kingdom, France, and China are all expected to ban the production and sale of internal combustion engine vehicles within the next two decades, potentially putting lithium miners in a great position to benefit from high prices for the metal.
