Lithium – Page 15 – Republic of Mining

Next step in Ontario EV auto strategy is a lithium hydroxide plant: minister – by Allison Jones (Canadian Press/Global News – May 11, 2023)

May 11, 2023

TORONTO — Ontario Economic Development Minister Vic Fedeli calls it the “sleeper story” of the province’s massive auto industry transition. Now that his quest to establish end-to-end electric vehicle production in the province has landed two battery plants, he’s setting his sights on lithium hydroxide, a critical component of those batteries.

There are two or three “very good prospects” for bringing a lithium hydroxide facility to the province, with a particular eye on northern Ontario, Fedeli said in an interview.

Thacker Pass lithium project in Nevada faces court in June – by Colin McClelland (Northern Miner – May 9, 2023)

May 11, 2023

https://www.northernminer.com/

The top lawyer for Lithium Americas’ (TSX: LAC; NYSE: LAC) Thacker Pass project, which is developing the largest lithium deposit in the United States in northwest Nevada, says it could be free of legal challenges by late summer or early fall.

The U.S. Ninth Circuit Court of Appeals is to hear arguments against the project on Jun. 26 and a ruling could be handed down within a few months, according to Laura Granier, a lawyer with Holland & Hart, which represents Lithium Americas.

Elon Musk and Texas Gov. Greg Abbott break ground on Tesla lithium refinery – by Lora Kolodny (CNBC.com – May 8, 2023)

May 11, 2023

https://www.cnbc.com/

Tesla CEO Elon Musk joined Texas Governor Greg Abbott to break ground at the site of the electric vehicle maker’s new lithium refinery in Corpus Christi on Monday. Tesla plans to invest $375 million to build the facility on the Gulf coast that will help it secure a domestic supply of lithium hydroxide, a key ingredient used to make batteries for its electric vehicles, and its home- and utility-scale batteries.

Musk said that Tesla is aiming to produce enough battery-grade lithium at the refinery to manufacture one million vehicles per year, and to produce more lithium than the rest of North America’s refining capacity combined there.

India’s industry minister invites Canadian miners to ‘join us’ in search for critical minerals – by Naimul Karim and Stephanie Hughes (Financial Post – May 11, 2023)

May 11, 2023

https://financialpost.com/

Piyush Goyal says India open to Canadian miners exploiting its lithium deposits

Indian Commerce and Industry Minister Piyush Goyal said the south Asian nation is open to Canadian miners exploiting the country’s lithium deposits, an indication that critical minerals could form the basis of a renewed commercial relationship between Canada and one of the fastest growing economies in the world.

“I would very much like Canadian mining companies to join us,” Goyal said at a press conference in Toronto while wrapping up a three-day visit to Canada on May 10. “Mining companies from Canada must visit India. We will make sure to send them into meetings both at the government level and also with mining companies in India … and see how we can expand our own mining system.”

How Chile is shaping the global market for lithium, a vital component of EV batteries – by Katie Brigham (CNBC.com – May 6, 2023)

May 11, 2023

https://www.cnbc.com/

The global boom in electric vehicle production has sent demand for lithium-ion batteries soaring. That’s turned Chile’s vast, lithium-containing salt flats into a vital national resource. In Chile’s Salar de Atacama, near the border with Argentina and Bolivia, close to one-third of the world’s lithium is produced from brines.

But South America’s fifth most-populous country is losing market share on the world stage to Australia, which in 2017 leapfrogged Chile to become the largest producer of lithium. Argentina is also gaining momentum thanks to increased international investment.

Head of New Lithium Giant to Focus on Supply Chain for Americas – by James Fernyhough (Bloomberg News – May 10, 2023)

May 11, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — The soon-to-be chief executive of what will become the world’s third-biggest lithium producer says the new company will focus on building a supply chain in the Americas, as US automakers look for non-Chinese sources of the battery metal.

“America-centric is a big differentiator for us with customers, with investors,” Paul Graves said in an interview Thursday, a day after it was announced Livent Corp. will combine with Allkem Ltd. to create a $10.6 billion company. China, where US-based Livent has refineries, “will not be a focus of growth for us in the future,” he said.

Lithium markets at a ‘turning point’: Morgan Stanley – by Alex Gluyas (Australian Financial Review – May 8, 2023)

May 8, 2023

https://www.afr.com/

Morgan Stanley believes lithium markets have hit a turning point following a brutal sell-off in the battery metal, as sentiment improves due to falling inventories and softer-than-expected supply growth. While lithium spot prices in China have plunged 70 per cent over the past five months, the broker noted that prices have rebounded.

Carbonate spot prices have bounced 30 per cent from their lows and hydroxide has recovered by 20 per cent. While lithium chemicals are gaining, the spodumene concentrate price has continued its downward trajectory, and now sits at $US4050 a tonne.

Rio Tinto Cautions Against Takeover Fever After Lithium’s Dramatic Price Slump – by Annie Lee and James Fernyhough (Bloomberg News – May 5, 2023)

May 6, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Lithium’s dramatic price slump has mining heavyweights chasing takeovers of companies with early stage or pre-production projects. But one giant is warning that offering high premiums for smaller miners comes with risks.

Rio Tinto Group Chief Executive Officer Jakob Stausholm said he’s “cautious” about acquisitions at current valuations, despite the world’s second-biggest miner wanting to grow its nascent lithium business.

China’s Investment in Afghan Lithium Sector : Broad Geo-Economic – by Noman Hussaini (Khaama Press News Agency – May 4, 2023)

May 4, 2023

Khaama Press

The recent offer by China-based Gochin Company to invest USD 10 billion in Afghanistan’s lithium mining sector, estimated to be worth more than USD 1 trillion, is apparently a broad Chinese strategy to control country’s mineral resources, particularly, its lithium deposits which are critical global mineral supply chains.

According to the Afghanistan Ministry of Mines and Petroleum, the Chinese company has also offered to invest in several other Afghan infrastructure projects, including tunnels, hydro-electric dam and highways if it is awarded the lithium mining contract.

Chile’s new lithium policy a boon for other producers – by Cecilia Jamasmie (Mining.com – May 3, 2023)

May 3, 2023

https://www.mining.com/

A decision by the world No. 2 lithium producer Chile to tighten control over the key battery metal sector has left many in the industry wondering what the announced state-led public-private model will look like and who, if anyone, will benefit from it.

The lack of specifics on how much ownership the government will demand from companies and the pushback President Gabriel Boric could face when trying to create a national lithium company, add to the uncertainties Chile’s new policy has created.

The green revolution will stall without Latin America’s lithium (The Economist – May 2,2023)

May 3, 2023

https://www.economist.com/

Over half of the world’s lithium, a metal used in batteries for electric vehicles, can be found in Latin America. The region also has two-fifths of its copper and a quarter of its nickel. Recently delegations from the United States and the European Union have flocked there partly to secure resources that will be needed in the energy transition and to diversify their supply away from China.

In March John Kerry, President Joe Biden’s climate tsar, visited the continent. German officials have scheduled at least three high-level meetings in South America this year. Ursula von der Leyen, the president of the European Commission, looks set to visit in the coming months.

Chile’s national lithium strategy raises questions about the environmental and social costs of EVs – by Tushar Khurana (Grist.org – May 3, 2023)

May 3, 2023May 3, 2023

https://grist.org/

There are few minerals that play as pivotal a role in the global energy transition as lithium. The silvery white, soft, reactive metal is particularly good at storing energy, which is why it is used in all commercial electric vehicle batteries today and is unlikely to be replaced by another material anytime soon. The demand for lithium batteries is expected to grow more than five times by 2030.

Recognizing its strategic importance, economic potential, and its environmental consequences, President Gabriel Boric of Chile, the world’s second largest producer of the metal, announced plans in late April to increase state participation in the country’s lithium industry.

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.

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.