Why is the Liontown share price having such a roaring start to the week?

The Liontown Resources Ltd (ASX: LTR) share price is roaring on Monday.

In afternoon trade, the lithium developer’s shares are up 3.5% to $2.04.

This compares to a 0.1% decline by the ASX 200 index.

Why is the Liontown share price rising today?

There appear to have been a couple of catalysts for the rise in the Liontown share price on Monday.

The first is a rebound in the lithium industry, which has seen a number of lithium shares beat the market so far today.

For example, Allkem Ltd (ASX: AKE) shares are up 1%, Core Lithium (ASX: CXO) shares are up 1%, and Lake Resources N.L. (ASX: LKE) shares are up 2%.

What else?

Also potentially giving the Liontown share price a boost was the release of its Environmental, Social and Governance (ESG) report this morning.

Liontown’s managing director and CEO, Tony Ottaviano, spoke about the rapid progress the company has made with the Kathleen Valley Lithium Project and the equally rapid progress it has made with its ESG commitments. He commented:

I am delighted to say our ESG progress has been equally as rapid, reinforcing our vision to be an ESG leader and a globally significant provider of battery minerals for the rapidly growing clean energy market.

To achieve this vision, we are committed to developing natural resources responsibly, in a way that creates social, environmental and economic value. Central to this is our landmark Native Title Agreement, signed in November 2021 with the Tjiwarl People, the Traditional Owners of the land on which we are developing the Kathleen Valley mine.

Given how important ESG is becoming, particularly in the mining sector, investors appear pleased with this report.

The post Why is the Liontown share price having such a roaring start to the week? appeared first on The Motley Fool Australia.

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More reading

• Why is the Lake Resources share price smashing the ASX 200 on Monday?
• The future of ASX lithium shares: Are investors looking through rose-coloured glasses?
• Why did ASX lithium shares have a dream run on Monday?
• Here are the top 10 ASX 200 shares today
• Why is the Liontown share price roaring 7% higher?

Motley Fool contributor James Mickleboro has positions in Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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