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Lithium Partnerships Aplenty as Car Manufacturers Race Towards EV Transition

LG Energy Solution signs two MoU’s with North American miners to secure lithium supply Greenwing accelerates exploration at San Jarge … Read More
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This article was originally published by Stockhead
  • LG Energy Solution signs two MoU’s with North American miners to secure lithium supply
  • Greenwing accelerates exploration at San Jarge after strategic funding transaction with NIO
  • Sipa begins drill testing lithium targets at the Skeleton Rocks Project

All your lithium news, Monday September 25.

 

Against the backdrop of sky-high lithium prices, which saw EXW China (battery) amounts top US$71,575 recently – lithium partnerships are beginning to pop-up all over the shop as carmakers and battery manufacturers catch on to the idea that there is simply not enough of the stuff to go around.

As Stockhead deputy editor Reuben Adams reported, we need more than 300 new mines to feed a 500% increase in battery demand by 2035 – for lithium specifically, this means roughly 74 new lithium mines with an average size of 45,000 tonnes.

Securing access to critical minerals for batteries has therefore become ever more important amid the global automakers expedited transition to EVs.

One recent example of this is South Korea’s electronics giant LG Energy Solution (LGES) who signed partnership agreements with three major Canadian miners to lock in lithium and cobalt supply last Friday.

In a bid to establish a battery supply chain within North America at ceremony held in Toronto, Canada, LGES revealed collaborations with NASDAQ listed Electra Battery Materials Corporation and Snow Lake Resources as well as with TSX player Avalon Advanced Materials Inc.

 

Two non-binding MoUs were signed with Snow Lake Resources and Avalon for a stable supply of lithium while a binding term sheet was locked in with Electra for 7,000t of cobalt sulphate for three years starting in 2023.

Avalon will supply LGES with lithium hydroxide(11,000 tons per year) for five years initially, starting in 2025 whereas Snow Lake will supply lithium hydroxide (20,000 tons per year) for ten years once production starts in 2025.

As a leading global manufacturer of lithium-ion batteries, LGES has been at the forefront in securing key raw materials for EV battery production, inking multiple agreements and MoUs with various suppliers.

In North America this year, LGES signed a non-binding MoU with Compass Minerals on lithium carbonate and lithium hydroxide. The company also signed a binding term sheet with Canada’s Sigma Lithium for the supply of battery-grade lithium.

The multinational conglomerate also struck two off take agreements with ASX players such as Liontown Resources (ASX:LTR) for spodumene concentrate and Vulcan Energy Resources (ASX:VUL) for battery-grade lithium chemicals earlier this year, while also signing a non-binding MoU with SQM of Chile to investigate and develop joint investment projects of electro-mobility industry value chain.

 

Here’s how ASX lithium companies are tracking:

Swipe or scroll to reveal full table. Click headings to sort:

CODE COMPANY PRICE % TODAY % WEEK % MONTH MARKET CAP
ADV Ardiden Ltd 0.008 0% 14% 0% $21,346,683
AGY Argosy Minerals Ltd 0.505 -11% -9% 36% $779,960,898
1MC Morella Corporation 0.022 -12% -21% -12% $144,141,145
AML Aeon Metals Ltd. 0.029 4% -3% -6% $30,616,062
ASN Anson Resources Ltd 0.305 -14% -21% 74% $367,516,902
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% $2,752,409,203
CXO Core Lithium 1.265 -8% -12% -7% $2,397,329,591
EMH European Metals Hldg 0.72 -12% -15% -11% $98,185,549
ESS Essential Metals Ltd 0.425 -6% -15% 0% $111,615,204
EUR European Lithium Ltd 0.074 -8% -16% -16% $112,019,134
GLN Galan Lithium Ltd 1.2 -9% -12% 0% $403,555,092
INF Infinity Lithium 0.1725 -4% -1% 23% $74,882,352
INR Ioneer Ltd 0.585 -9% -13% -10% $1,342,805,809
JRL Jindalee Resources 2.26 -4% -14% -17% $134,840,570
LIT Lithium Australia 0.0545 -4% -8% -32% $69,519,663
LKE Lake Resources 0.92 -7% -1% -22% $1,376,073,972
LPD Lepidico Ltd 0.023 -4% -21% -21% $156,172,590
LPI Lithium Pwr Int Ltd 0.53 -7% -13% -6% $222,984,642
LTR Liontown Resources 1.485 -5% -9% -10% $3,448,403,500
MIN Mineral Resources. 63.77 -6% -4% 3% $12,809,186,992
MLS Metals Australia 0.043 -4% -14% -19% $27,316,629
AKE Allkem Limited 14.15 -5% -6% 8% $9,475,599,158
PLL Piedmont Lithium Inc 0.805 -9% -7% -2% $464,262,304
PLS Pilbara Min Ltd 4.545 -6% -1% 39% $14,475,965,366
QPM Queensland Pacific 0.135 -7% -16% -13% $226,723,904
PSC Prospect Res Ltd 0.081 3% -12% -19% $36,518,497
RLC Reedy Lagoon Corp. 0.015 0% 0% 0% $8,361,404
SYA Sayona Mining Ltd 0.2225 -5% -23% -19% $1,951,516,184
TKL Traka Resources 0.007 0% 0% 17% $4,821,422
TON Triton Min Ltd 0.019 -10% -24% -34% $29,038,468
VUL Vulcan Energy 7.44 -1% -7% -5% $1,075,014,758
GL1 Globallith 2.28 -5% -18% 32% $382,462,797
BMM Balkanminingandmin 0.3 -10% 0% 62% $10,971,250
LEL Lithenergy 0.84 -9% -33% -13% $55,638,750
ARN Aldoro Resources 0.215 -2% -10% -10% $21,909,210
NMT Neometals Ltd 1.11 -8% -14% -17% $662,815,810
IGO IGO Limited 13.91 -5% -1% 15% $11,131,836,851
CHR Charger Metals 0.5 -4% -17% -4% $16,955,138
AAJ Aruma Resources Ltd 0.058 -5% -11% -12% $9,574,652
PAM Pan Asia Metals 0.42 -2% -7% -11% $31,785,704
AX8 Accelerate Resources 0.036 -5% -3% 0% $10,277,438
AM7 Arcadia Minerals 0.28 -7% 0% 44% $14,009,368
AS2 Askarimetalslimited 0.295 -9% -18% -13% $14,647,513
BYH Bryah Resources Ltd 0.029 7% 0% 7% $7,539,844
DTM Dart Mining NL 0.081 -4% -12% 7% $13,004,053
EMS Eastern Metals 0.14 -3% 12% 0% $5,605,156
FG1 Flynngold 0.12 0% 14% 20% $7,687,326
FRS Forrestaniaresources 0.17 -8% -26% 13% $7,920,091
GSM Golden State Mining 0.046 0% -4% -27% $5,382,653
IMI Infinitymining 0.205 -2% -16% 17% $12,075,000
LRV Larvottoresources 0.19 0% -17% -21% $7,891,175
MMC Mitremining 0.165 -8% -8% 29% $4,875,318
RAG Ragnar Metals Ltd 0.038 0% 0% -16% $14,409,026
SHH Shree Minerals Ltd 0.009 0% -10% 0% $11,146,382
TMB Tambourahmetals 0.16 0% -6% 3% $6,590,816
TEM Tempest Minerals 0.033 -8% -11% -18% $18,171,582
TSC Twenty Seven Co. Ltd 0.002 -20% 0% -5% $6,652,035
WCN White Cliff Min Ltd 0.019 -10% -24% 65% $15,699,671
WML Woomera Mining Ltd 0.016 0% -11% 14% $10,989,329
AZL Arizona Lithium Ltd 0.078 -6% -10% -9% $200,023,822
CRR Critical Resources 0.072 -8% -6% 57% $116,065,189
KGD Kula Gold Limited 0.03 3% 50% 30% $7,800,117
LRS Latin Resources Ltd 0.097 -8% -19% -12% $206,588,386
PNN Power Minerals Ltd 0.485 -10% -29% 1% $38,964,798
WR1 Winsome Resources 0.3 -6% -6% 30% $43,236,478
KZR Kalamazoo Resources 0.2 0% -25% -11% $29,458,875
MTM Mtmongerresources 0.135 0% -4% -4% $5,063,854
QXR Qx Resources Limited 0.031 0% 0% 3% $26,640,232
SCN Scorpion Minerals 0.075 -3% -6% -7% $25,551,002
AZI Altamin Limited 0.081 0% -8% -5% $31,729,057
ENT Enterprise Metals 0.012 0% 0% 20% $7,835,768
KAI Kairos Minerals Ltd 0.034 -8% -15% 21% $72,671,459
STM Sunstone Metals Ltd 0.0365 -9% -9% -13% $103,857,857
PGD Peregrine Gold 0.59 0% -2% -29% $22,845,718
AVW Avira Resources Ltd 0.004 0% -11% -11% $8,475,160
NVA Nova Minerals Ltd 0.7 -6% -10% -19% $136,827,650
GT1 Greentechnology 0.725 -6% -9% 4% $147,822,255
BNR Bulletin Res Ltd 0.12 -8% -11% -8% $38,036,843
RMX Red Mount Min Ltd 0.006 0% 0% -14% $9,854,183
CAI Calidus Resources 0.505 -6% -8% -19% $234,213,212
MRR Minrex Resources Ltd 0.046 -6% -18% -16% $53,065,331
RDT Red Dirt Metals Ltd 0.58 -3% -22% 14% $182,732,656
A8G Australasian Metals 0.295 0% 0% -2% $12,145,296
EFE Eastern Resources 0.029 0% -6% -3% $29,195,190
MQR Marquee Resource Ltd 0.06 -3% -14% -20% $19,568,290
SRZ Stellar Resources 0.013 -7% -13% -7% $13,512,767
LSR Lodestar Minerals 0.0065 0% 0% -7% $11,299,843
NWM Norwest Minerals 0.039 -11% -17% -15% $9,772,725
AOA Ausmon Resorces 0.008 -6% 0% 33% $7,286,959
VKA Viking Mines Ltd 0.008 -6% 0% 14% $8,714,697
IPT Impact Minerals 0.0075 -6% 0% -12% $19,850,964
SRI Sipa Resources Ltd 0.051 9% 2% 13% $9,636,166
VMC Venus Metals Cor Ltd 0.16 -3% -9% -9% $26,412,983
RGL Riversgold 0.038 -5% 0% 9% $31,007,597
ZNC Zenith Minerals Ltd 0.29 -2% -2% -2% $101,704,872
RAS Ragusa Minerals Ltd 0.365 -6% 43% 49% $50,171,187
G88 Golden Mile Res Ltd 0.032 -3% -3% 0% $6,751,462
EPM Eclipse Metals 0.022 0% -4% 5% $44,533,651
EVR Ev Resources Ltd 0.026 -4% -16% -16% $25,001,570
WC8 Wildcat Resources 0.034 0% -15% 17% $21,939,273
MNS Magnis Energy Tech 0.3925 -4% -15% -13% $397,835,908
RIO Rio Tinto Limited 88.185 -5% -5% -10% $34,523,107,902
THR Thor Mining PLC 0.0095 -5% -10% 6% $10,991,633
CZL Cons Zinc Ltd 0.022 0% 0% -8% $8,521,872
MXR Maximus Resources 0.048 -8% 0% -2% $16,583,100
DRE Dreadnought Resources Ltd 0.1125 -6% -2% 13% $365,104,026
MM1 Midasmineralsltd 0.2 0% 0% -22% $11,426,353
M2R Miramar 0.1 0% -5% -26% $6,418,666
AOU Auroch Minerals Ltd 0.069 -4% -12% 0% $26,720,050
XTC Xantippe Res Ltd 0.008 0% -11% -11% $65,161,839
MMG Monger Gold Ltd 0.415 -11% -17% 17% $18,618,600
LRD Lordresourceslimited 0.275 -6% 6% 31% $9,735,752
WMC Wiluna Mining Corp 0.205 0% 0% 0% $74,238,031
AUN Aurumin 0.115 0% 5% -15% $14,410,321
ZEO Zeotech Limited 0.044 -8% -10% -25% $74,971,943
ALY Alchemy Resource Ltd 0.02 0% -13% 5% $19,061,519
LIS Lisenergylimited 0.51 -6% -11% -18% $89,593,661
GW1 Greenwing Resources 0.42 71% 17% 68% $30,195,601
KTA Krakatoa Resources 0.061 -2% -9% -3% $21,372,015
TYX Tyranna Res Ltd 0.048 -8% -2% 37% $122,504,755
DAF Discovery Alaska Ltd 0.08 0% 5% 1% $17,938,776
FTL Firetail Resources 0.22 -8% -15% -23% $14,827,800
IR1 Irismetals 1.74 0% -18% 112% $106,218,150
LNR Lanthanein Resources 0.041 -5% -24% 8% $41,401,500
DAL Dalaroometalsltd 0.125 0% -7% 39% $3,734,375
TKM Trek Metals Ltd 0.066 0% -10% -14% $20,500,270
CY5 Cygnus Gold Limited 0.21 0% -11% 5% $30,908,916
TUL Tulla Resources 0.45 0% -7% -15% $72,097,592
WES Wesfarmers Limited 43.56 1% -3% -8% $49,072,605,674
LLL Leolithiumlimited 0.63 -9% -19% 29% $680,793,269
OCN Oceanalithiumlimited 0.525 -5% -20% -20% $18,438,750

Only 7 ASX lithium companies finished in the green today, 37 fell flat and 86 found themselves in the red zone.

 

Who’s got news out?

GREENWING RESOURCES (ASX:GW1)

NYSE listed Chinese EV maker Nio will subscribe for $12m of shares in the lithium minnow, ahead of a potential JV and offtake deal.

Nio, a pioneer and a leading company in the premium smart electric vehicle market, will hold about 12.16% of GW1 at completion of the placement, done at 55c per share – a big premium to the last closing price.

EV makers and battery manufacturers are starting to look over the joint for lithium supply, not just at the near term producers but with explorers who don’t even have a resource yet.

This is the case with GW1 at its flagship San Jorge Project in Argentina but other examples include Eastern Resources (ASX:EFE) who signed a binding strategic partnership with China’s Yongxing Special Materials technology Co in May and EV Resources’ (ASX:EVR) MoU with Yahua in December 2021.

Yahua is a wholly owned subsidiary of Sichuan Yahua Industrial Group Co, one of China’s major lithium hydroxide and lithium carbonate producers, currently in expansion for a further 50,000tpa of lithium hydroxide and 1,000tpa of lithium metal by 2025.

 

SIPA RESOURCES (ASX:SRI)

Drill testing of lithium targets is underway at the Skeleton Rocks Project in Western Australia’s Goldfields region, albeit delayed due to wet weather.

The project, however, is now in full swing and will consist of ten reverse circulation holes to planned depths of 150m each – angled directly under the geochemical anomalies encountered in Sipa’s aircore program, undertaken in March.

Targets being tested lie within unexplored greenstone units on the eastern margin of a large granite batholith and should it be required, Sipa has all approvals in place to expand the program.

Skeleton Rocks is strategically located between the Great Eastern Highway and the Mt Holland Lithium Project, currently being developed as part of a joint venture between Wesfarmers (ASX:WES) and Chilean mining major Sociedad Quimica y Minera de Chile S.A. (SQM).

“The focused geochemical halos we have identified at Skeleton Rocks are the logical place to commence drilling on a project that is well located in a proven WA lithium province,” Sipa managing director Pip Darvall says.

“It is great to once again be out testing targets at another one of Sipa’s projects.”

 

VULCAN ENERGY (ASX:VUL)

Vulcan has appointed Cris Moreno as deputy chief executive officer, effective from November 1.

Moreno will be based in Europe, working alongside Vulcan’s leadership team in Germany and Australia as the company advances the combined renewable energy and Zero Carbon Lithium Project towards commercial production.

“As Vulcan’s Zero Carbon Lithium Project grows and advances, our skills and expertise requirements in our leadership team are evolving,” Managing director and CEO Francis Wedin says.

“Cris has a unique CV, having executed large LNG project developments, before turning his attention to lithium hydroxide and battery cathode plants in Europe.

“The shared project discipline DNA within both these sectors and experience in delivering major projects in Europe similar to our integrated, geothermal renewable energy and lithium hydroxide project, is significant.

“As well as having excellent technical skills and proven leadership qualities, Cris’ motivation to work with Vulcan stems from a strong desire to leverage his experience to tackle climate change and drive meaningful decarbonisation, whilst generating stakeholder value, creating important alignment with our mission and goals at Vulcan.”


 

The post Eye on Lithium: Lithium partnerships aplenty as car manufacturers race towards EV transition appeared first on Stockhead.

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