State of play in lithium refining and conversion: where carbonate, hydroxide and emerging lithium chemical routes are scaling ' and where bottlenecks persist Direct Lithium Extraction (DLE) in 2026: what has genuinely advanced, what remains at pilot scale, and what this means for integration with downstream refining Process innovation under pressure: energy intensity, reagent costs, water use and yield as defining constraints on midstream competitiveness How midstream technology choices are reshaping cost curves, project timelines and bankability in North America, Europe and emerging hubs