Despite an end of year blip, the lithium industry was on form again in 2022.
This led to a number of ASX lithium shares recording impressive gains for their shareholders despite the market volatility.
Three of the best-performing major ASX lithium shares in 2022 are listed below.
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Argosy Minerals Limited (ASX: AGY)
The Argosy Minerals share price was on fire and surged 78% higher over the 12 months. Investors were buying the Argentina-based lithium developer amid excitement that its Rincon project will be producing lithium in the very near future. In fact, the company remains on track to complete the ramp-up phase and achieve steady-state production operations by the end of second quarter of 2023. Once operational, the Rincon project is initially targeting 2,000 tonnes per annum of lithium carbonate. The S&P Platts lithium carbonate price CIF North Asia was recently trading at US$75,000 per tonne.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price wasn't far behind with a 74% gain in 2022. Once again, investors were piling into this lithium developer as it nears the commencement of production. Core Lithium is expecting the Finniss Lithium Project in the Northern Territory to be producing the battery making ingredient in 2023. This project is targeting life of mine average annual production of 160,000 tonnes of spodumene concentrate over a 12-year mine life.
Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price was on form and charged 38% higher over the period. While Mineral Resources has exposure to mining services and iron ore production, it was its lithium operations that got investors excited. This was because a number of analysts are expecting the company's lithium exposure to underpin the tripling of its earnings in FY 2023. Mineral Resources' lithium operations include the Mt Marion and Wodgina projects. Wodgina is one of the largest known hard rock lithium deposits in the world with a production life of over 30 years.
