Advancing Methodologies Used to Evaluate Energy Storage Metals Focusing on Lithium and Cobalt

Abstract

The thesis introduces a novel risk-disaggregated valuation framework that uniquely addresses risk factors. Notably, project-associated risk factors are recognised as costs to separate from a single discount rate. Simultaneously, the methodology effectively deals with financial risks through the application of a multi-period discount rate, allowing for capturing the dynamics of the capital structure over time.