| It was supposed to be the most valuable mineral of the future. Now its crashing price is giving businesses pause. In late 2018, Jean-Denis Caron sank most of his life savings into the shares of Nemaska Lithium, a Quebec City–based producer backed by Japan’s SoftBank that promised to “facilitate access to green energy, for the benefit of humanity.” Last month, Nemaska filed for protection from its creditors, following a collapse in the price of lithium hydroxide, a key component in batteries for electric vehicles (EV). The shares, down 93 percent from the peak, have stopped trading and the company is set to be kicked off the Toronto exchange. Nemaska’s failure highlights the difficulties of a market dominated by a small cadre of producers and vulnerable to sudden changes in outlook. | 
