One of the biggest movers on the market on Wednesday was the Mineral Resources Limited (ASX: MIN) share price.
The miner and mining services company's shares finished the day 12.5% higher at $18.99.
Why did its shares rocket higher?
As well as getting a lift from news that electric vehicle sales are surging, investors have been fighting to get hold of its shares following the release of a positive production update.
According to the release, the company's Iron Valley and Yilgarn sites are operating with a run rate of approximately 8Mtpa and 5Mtpa of iron ore at present.
But the jewels in the crown, its lithium assets, are what the majority of investors were interested in.
Its Mount Marion site's run rate is currently exceeding 450Ktpa of 4% to 6% lithium carbonate product.
And the massive Wodgina site is operating with a run rate of between 4.50Mtpa and 4.75Mtpa.
By FY 2019 this is expected to ramp up to between 5.50Mtpa and 5.75Mtpa of lithium carbonate.
Judging by this production update, it isn't hard to see why some investors believe that Mineral Resources is one of the best ways to gain exposure to the lithium boom ahead of Orocobre Limited (ASX: ORE) and Pilbara Minerals Ltd (ASX: PLS).
