The lithium industry was a great place to be again in October.
During the month, a number of ASX lithium shares recorded strong gains for their shareholders.
Among the highlights are the four All Ords shares listed below. Here's how they performed:
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Liontown Resources Limited (ASX: LTR)
The Liontown share price was a very strong performer last month and recorded a gain of 26.8%. Investors were buying the lithium developer's shares after the Western Australia government gave the thumbs up to the mining proposal for a 4Mtpa operation at the Kathleen Valley Lithium Project. This allowed major site works to commence, bringing production ever closer.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price also smashed the market last month with a 25% gain. This was driven by news that its Finniss lithium mine in Darwin was officially opened. This comes at a time when lithium prices are booming thanks to insatiable demand for the battery making ingredient in the electric vehicle market.
Piedmont Lithium Inc (ASX: PLL)
The Piedmont Lithium share price charged 14.3% higher last month. A good portion of this gain was made late in the month after the lithium developer announced that it had been selected for a US$141.7 million (A$226 million) grant from the US Department of Energy (DOE). These funds will be used to support the construction of the company's US$600 million (A$958 million) Tennessee Lithium project, which is aiming to expand the US supply of lithium hydroxide by 30,000 metric tonnes per year.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price was on form again and jumped 11.6% in October. Investors were buying this lithium miner's shares thanks to the release of another solid quarterly update and the results of two online lithium auctions. The latter revealed prices of US$7,830/dmt (on an SC6.0 CIF China basis) and then ~US$8,000/dmt.
