Battery Technology Innovation/Electric Vehicles – Page 55

Chile bets on becoming world lithium leader as demand rises – by Lucia Newman (Al Jazeera – April 26,2023)

April 28, 2023

https://www.aljazeera.com/

President Gabriel Boric’s programme to exert state control over lithium production sparks conservative backlash.

Santiago, Chile – It’s white — not yellow — but like gold, lithium has rapidly become one of the most sought-after precious metals on earth. Theoretically you can find it almost anywhere, but in practice lithium is best extracted from salt flats.

This explains why lithium fever is spreading throughout what is known as the lithium triangle, the salt flats of Chile and neighbouring Bolivia and Argentina. According to World Economic Forum, they account for around 60 percent of the world’s known lithium reserves. Of the three, Chile is currently the largest producer.

Column: Nickel faces huge supply glut as Indonesian output booms – by Andy Home (Reuters – April 27, 2023)

April 28, 2023

https://www.reuters.com/

LONDON, April 27 (Reuters) – The nickel market is facing a massive supply glut this year as surging Indonesian production continues to outpace global demand. The International Nickel Study Group (INSG) is forecasting a supply-demand surplus of 239,000 tonnes, the largest in at least a decade and a significant increase from last year’s excess of 105,000 tonnes.

It also represents a lift from the Group’s last assessment in October, when it expected a surplus of 171,000 tonnes for this year. Demand expectations have been tempered, although nickel usage is on track to register healthy 6.1% growth in 2023. It still won’t be enough to absorb the wave of new production coming out of Indonesia.

Chile’s nationalisation move could benefit Canada – explorer – by Mariaan Webb (MiningWeekly.com – April 25, 2023)

April 25, 2023

https://www.miningweekly.com/

The move by the government of Chile to demand a controlling stake in all future lithium projects could be a boost for countries with large resources that are deemed more investment friendly, says Quebec-focused explorer Arbor Metals.

The nationalisation of lithium deposits in Chile and Mexico will “hasten a shift in future investments in lithium projects to other countries that are recognised as safe havens, such as Canada”, says the TSX-V-listed junior, which owns the Jarnet project, in the James Bay region.

Column: Chile uses an old copper template for new lithium plan – by Andy Home (Reuters – April 25, 2023)

April 25, 2023

https://www.reuters.com/

LONDON, April 25 (Reuters) – Chile’s assertion of state control over its lithium industry has sent shock waves through the new energy metals sector. The country’s two big lithium producers, SQM (SQMA.SN) and Albemarle (ALB.N), have seen their share prices fall on the prospect of having to relinquish majority control of their operations or risk losing their licences once they expire in 2030 and 2043 respectively.

Shares in companies such as Pilbara Minerals (PLS.AX), Australia’s biggest lithium producer, have risen on the premise of slower investment and project growth in Chile, which hosts the world’s largest deposits of the battery metal.

Chile to nationalize its lithium industry – by Cecilia Jamasmie (Mining.com – April 21, 2023)

April 21, 2023

https://www.mining.com/

Chile’s President Gabriel Boric announced on Thursday night his government would nationalize the country’s lithium, applying a model in which the state will partner with companies to develop the local industry.

The long-awaited policy in the world’s second-largest producer of the battery metal includes the creation of a national lithium company, Boric said on national television. State copper giant Codelco, the world’s No.1 producer of the metal, will be initially in charge of signing up partners for new contracts.

Ottawa matches U.S. with up to $13-billion in subsidies to land Volkswagen EV battery plant – by Adam Radwanski (Globe and Mail – April 21, 2023)

April 21, 2023

https://www.theglobeandmail.com/

The federal government will provide Volkswagen with up to $13-billion in production subsidies for the new electric-vehicle battery plant it plans to build in St. Thomas, Ont. – nearly double the estimated $7-billion cost of construction.

Ottawa’s backing, which also includes about $700-million in additional support for nearer-term capital costs, is by far the most generous subsidy that Canada has ever provided to an automaker for locating a factory here.

Chile Unveils Public-Private Model to Share Vast Lithium Riches with Mining Industry – by James Attwood (Bloomberg News – April 20, 2023)

April 21, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Chile delivered its long-awaited lithium policy late Thursday, giving the state a majority stake in all new contracts and sending shares in the two current producers in the South American nation — SQM and Albemarle Corp. — tumbling.

While the government will respect existing arrangements with the two companies, both would move to the state-controlled model once contracts expire in 2030 and 2043, respectively. Alternatively, they could opt to give up a majority stake in their operations before then. SQM shares were down a record 20% at 3:35pm in New York, while Albemarle lost 10%.

Australian junior miner grows its lithium bank in northwestern Ontario – by Staff (Northern Ontario Business – April 19, 2023)

April 20, 2023

https://www.northernontariobusiness.com/

Green Technology Metals boasts two lithium deposits as Sioux Lookout-area project shows growth potential

Green Technology Metals, an Australian exploration upstart, is boosting its storehouse of lithium resources in northwestern Ontario. The company posted a first-time resource estimate for its Root Project, situated northeast of Sioux Lookout, and one of their two leading properties.

The maiden estimate for Root is 4.5 million tonnes at 1.01 per cent lithium oxide, along with 110 parts per million tantalum pentoxide, all in the inferred category. It stems from an almost 15,000-metre drilling program that the company kicked off on the property last August.

Mining Lithium in Abandoned Oil Fields for Tomorrow’s EVs – by Jacob Lorinc and Robert Tuttle (Bloomberg News – April 20, 2023)

April 20, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Chris Doornbos pulled up to Alberta’s foundational oil field in a baby-blue Tesla Model Y, a not-so-subtle nod to a new world order. It was a crisp January afternoon in Canada’s top-polluting province and a biting -5C (23F), and the 40-year-old mining executive squinted at a patch of dirt that midcentury prospectors had once scoured for oil. It doesn’t look like much now, he admitted, but what counts is the lithium beneath the soil.

The Leduc oil field was discovered in the 1940s, when a group of Imperial Oil Ltd. workers stumbled upon a well so profuse with petroleum that, on first drill, it burped a gaseous fireball almost 15 meters (49 feet) into the air.

Sources say Volkswagen’s new Ontario plant will dwarf previous automaker investments – by Tonda MacCharles and Robert Benzie (Toronto Star – April 20, 2023)

April 20, 2023

https://www.thestar.com/

Ottawa and Queen’s Park hope the auto giant’s new manufacturing complex will be the lynchpin of a new “green” supply chain in Canada.

OTTAWA – Prime Minister Justin Trudeau and Premier Doug Ford hit the road Friday to finally unveil plans for the new multi-billion dollar Volkswagen electric vehicle “gigafactory” in St. Thomas. Ottawa and Queen’s Park hope the German auto giant’s massive new manufacturing complex will be the lynchpin of a new “green” supply chain in Canada.

Volkswagen announced last month it chose southwestern Ontario over U.S states like Oklahoma that were vying for the global automakers’ first battery plant outside Europe. The “gigafactory” will sprawl over hundreds of acres near London, Ont., and produce hundreds of thousands of electric car batteries a year to generate “gigawatts” of battery power for the burgeoning EV market in North America.

Yellowknife emerging as EV metals hub – by Shane Lasley (North of 60 Mining News – April 10, 2023)

April 18, 2023

https://www.miningnewsnorth.com/

The Northwest Territories capital city of Yellowknife is emerging as a northern link in North America’s electric vehicle supply chain. Already home to Canada’s only rare earths mine, a 160-kilometers (100 miles) area around this northern mining town happens to be enriched with the lithium and cobalt that is in massive demand for EV batteries, along with numerous other minerals critical to both Canada and the United States.

A roughly 9,600-square-kilometer (3,700 square miles) area that extends 120 kilometers (75 miles) east of Yellowknife to Vital Metal Ltd.’s Nechalacho rare earths mine is riddled with hardrock lithium sources known as pegmatites.

Will we have enough nickel for our EVs in 2030? – by Brian Donovan (Globe and Mail – April 18, 2023)

April 18, 2023

https://www.theglobeandmail.com/

Nickel demand is increasing with the shift to electric vehicles. Let’s take a look at what is happening with this commodity.

Pricing:

Nickel prices were very volatile in 2022. On March 8, 2022, the metal topped US$100,000 a tonne before the London Metal Exchange halted trading, something that has never happened in the nickel market. The spike was driven initially by the outbreak of war in Ukraine, which led to a short squeeze and margin calls for Tsingshan Holding Group Co., a large stainless-steel manufacturer in China.

Major drop in lithium prices could mean cheaper electric vehicles – by Philippe de Montigny (CBC Sudbury – April 17, 2023)

April 18, 2023

https://www.cbc.ca/news/canada/sudbury/

Key ingredient in batteries down more than 65 per cent after two-year rally

The significant drop in lithium prices since the beginning of the year could mean cheaper electric vehicles (EVs) down the road. After soaring for two years, the price of lithium carbonate — a key ingredient in EV batteries — sank by more than 65 per cent since January, according to Benchmark Mineral Intelligence.

“Prices peaked at over $85,000 US in November,” mining industry analyst Jean-Charles Cachon said, a level he deemed “unsustainable.” Today, one metric tonne of the battery-grade lithium salt sells for less than $30,000 US.

Africa has ‘golden opportunity’ in battery commodities market – by Simone Lieditke (MiningWeekly.com – April 14,2023)

April 14, 2023

https://www.miningweekly.com/

The battery commodities market is experiencing a golden age of growth and development, spurred by rapid technological advances and the growing demand for batteries to support cleaner mobility and the roll-out of variable renewables generators.

Global battery demand is forecast to grow by some 1 615 GWh, or 384.5%, over the next eight years, according to statistics aggregator Statista. This anticipated upsurge in demand for lithium-ion and other batteries is largely attributed to the rise of electric vehicles (EVs), which are expected to progressively replace internal combustion engine passenger cars.

Lundin’s bid for Chilean copper hints at returning investor optimism – by Fabian Cambero and Divya Rajagopal (Reuters – April 14, 2023)

April 14, 2023

https://www.reuters.com/

SANTIAGO, April 14 (Reuters) – Lundin Mining Corp’s (LUN.TO) bid for control of Chile’s Caserones copper mine comes despite ongoing uncertainty over potential policy changes to royalties and taxes, an indication that investors may be regaining confidence in the world no.1 copper-producing country.

Lundin last month agreed to pay $950 million for 51% control of the mine, calling the deal “an endorsement that we believe the mining royalty and taxation discussions are trending in the right direction.”