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Elon Musk – Battery Production is Set to Pass 1TWh. We Need 300 Times to be ‘Fully Sustainable’

Global battery production is on track to pass 1TWh in 2023 Zenith Minerals identifies a new lithium geochemical target at … Read More
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Benchmark Mineral Intelligence (BMI) says global battery production is on track to pass 1TWh in 2023.

Pic: Benchmark Mineral Intelligence

 

Although the supply of lithium-ion batteries is increasingly going to new markets such as energy storage, the electric vehicle market remains the biggest market with Rho Motion forecasting EV sales to rise by more than 14 million units this year, from 10.2 million in 2022.

By 2030, battery supply is expected to hit almost 4TWh, a drop in the ocean to Elon Musk’s predictions that the world will need 300TWh of battery capacity to be fully sustainable.

“That would require annual battery production rising to 6.7TWh by 2030 and 11.8TWh in 2040 – a thirty-fold increase from today’s levels by mid-century,” BMI explains.

“That would require a twenty-fold increase in lithium supply to 12 million tonnes of lithium LCE and a similar increase in nickel sulphate to 8 million tonnes.

“Cobalt supply would have to increase by five times to 1 million tonnes of cobalt sulphate, and manganese by over twenty-fold to 2.5 million tonnes of manganese sulphate.”

 

Where will the battery production come from?

China is set to lead the charge with an estimated 78% of production this year, followed by 11% from the rest of Asia, 6% from Europe and 5% from North America.

However, the growing battery sector continues to be threatened by expectations that global lithium supply will enter deficit relative to demand by 2025.

New-York based FitchGroup says Chinese manufacturers are more likely to seek foreign supply to meet future needs than rely on an accelerated expansion of domestic production given the environmental scrutiny facing new projects and intensive use of water for lithium extraction.

 

Here’s how ASX lithium stocks are tracking:

 
 
CODE COMPANY PRICE % TODAY MARKET CAP
KAI Kairos Minerals Ltd 0.024 14% $41,245,963
WCN White Cliff Min Ltd 0.0125 14% $8,624,599
IPT Impact Minerals 0.011 10% $24,813,706
CMD Cassius Mining Ltd 0.037 9% $13,888,759
RMX Red Mount Min Ltd 0.0065 8% $11,930,093
SRZ Stellar Resources 0.013 8% $12,055,571
ADV Ardiden Ltd 0.0075 7% $18,818,347
LEL Lithenergy 0.92 7% $51,729,000
PAT Patriot Lithium 0.41 6% $23,345,438
MM1 Midasmineralsltd 0.175 6% $9,426,741
EVR Ev Resources Ltd 0.02 5% $17,650,697
KZR Kalamazoo Resources 0.205 5% $29,019,778
AS2 Askarimetalslimited 0.65 5% $30,619,028
RAS Ragusa Minerals Ltd 0.115 5% $15,685,866
FG1 Flynngold 0.097 4% $7,284,089
BNR Bulletin Res Ltd 0.125 4% $35,230,932
LNR Lanthanein Resources 0.027 4% $25,520,965
DAF Discovery Alaska Ltd 0.028 4% $6,054,337
CRR Critical Resources 0.058 4% $89,058,627
LPD Lepidico Ltd 0.0155 3% $114,566,576
SRI Sipa Resources Ltd 0.031 3% $6,844,744
NMT Neometals Ltd 0.8225 3% $442,192,941
A8G Australasian Metals 0.19 3% $7,616,541
SCN Scorpion Minerals 0.08 3% $26,965,083
TON Triton Min Ltd 0.043 2% $58,076,935
EMH European Metals Hldg 0.685 2% $84,418,265
ZNC Zenith Minerals Ltd 0.23 2% $79,133,860
LIT Lithium Australia 0.047 2% $56,174,817
ESS Essential Metals Ltd 0.505 2% $132,445,514
TEM Tempest Minerals 0.0255 2% $12,619,154
WR1 Winsome Resources 2.11 2% $291,232,483
TUL Tulla Resources 0.35 1% $73,432,716
JRL Jindalee Resources 2.43 1% $137,709,518
PNN Power Minerals Ltd 0.505 1% $36,122,922
AGY Argosy Minerals Ltd 0.7825 1% $1,088,415,811
GL1 Globallith 2.12 1% $447,663,838
A11 Atlantic Lithium 0.6825 0% $411,904,329
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
RLC Reedy Lagoon Corp. 0.009 0% $5,100,476
TKL Traka Resources 0.008 0% $5,782,196
ARN Aldoro Resources 0.23 0% $25,969,833
AAJ Aruma Resources Ltd 0.075 0% $11,772,113
AX8 Accelerate Resources 0.026 0% $9,817,646
BYH Bryah Resources Ltd 0.024 0% $6,750,083
FRS Forrestaniaresources 0.145 0% $8,829,239
GSM Golden State Mining 0.044 0% $5,148,625
LRV Larvottoresources 0.185 0% $12,442,124
RAG Ragnar Metals Ltd 0.016 0% $6,066,958
CTN Catalina Resources 0.011 0% $13,623,356
TMB Tambourahmetals 0.105 0% $4,325,223
AZL Arizona Lithium Ltd 0.071 0% $173,417,829
KGD Kula Gold Limited 0.024 0% $8,669,086
LRS Latin Resources Ltd 0.12 0% $264,198,590
MTM Mtmongerresources 0.079 0% $4,504,913
AZI Altamin Limited 0.075 0% $29,378,756
ENT Enterprise Metals 0.009 0% $6,345,726
PGD Peregrine Gold 0.5 0% $19,381,445
EFE Eastern Resources 0.018 0% $22,355,036
MQR Marquee Resource Ltd 0.031 0% $10,143,433
AOA Ausmon Resorces 0.0055 0% $4,852,591
VMC Venus Metals Cor Ltd 0.135 0% $24,040,622
G88 Golden Mile Res Ltd 0.022 0% $4,500,975
EPM Eclipse Metals 0.021 0% $42,589,256
WC8 Wildcat Resources 0.03 0% $19,860,682
THR Thor Energy PLC 0.006 0% $8,853,677
CZL Cons Zinc Ltd 0.017 0% $8,200,083
MXR Maximus Resources 0.04 0% $12,762,231
M2R Miramar 0.079 0% $5,583,858
AOU Auroch Minerals Ltd 0.063 0% $26,954,243
XTC Xantippe Res Ltd 0.006 0% $62,070,208
LRD Lordresourceslimited 0.175 0% $5,826,121
WMC Wiluna Mining Corp 0.205 0% $74,238,031
ZEO Zeotech Limited 0.04 0% $65,628,227
ALY Alchemy Resource Ltd 0.017 0% $20,027,296
KTA Krakatoa Resources 0.044 0% $15,167,236
FTL Firetail Resources 0.14 0% $9,100,000
IR1 Irismetals 1.16 0% $74,506,800
TKM Trek Metals Ltd 0.071 0% $25,840,101
VSR Voltaic Strategic 0.022 0% $6,760,605
LLO Lion One Metals Ltd 0.92 0% $10,847,226
VUL Vulcan Energy 7.375 0% $1,059,986,874
IGO IGO Limited 14.675 0% $11,154,554,885
RIO Rio Tinto Limited 123.72 0% $46,101,341,617
MIN Mineral Resources. 90.71 -1% $17,329,365,696
WES Wesfarmers Limited 49.37 -1% $56,348,083,797
SYA Sayona Mining Ltd 0.2375 -1% $2,085,509,849
LLI Loyal Lithium Ltd 0.455 -1% $24,145,400
EMC Everest Metals Corp 0.09 -1% $9,685,413
LPI Lithium Pwr Int Ltd 0.42 -1% $267,366,463
EMS Eastern Metals 0.079 -1% $3,125,153
PAM Pan Asia Metals 0.36 -1% $53,602,290
NWM Norwest Minerals 0.064 -2% $14,436,980
AUN Aurumin 0.063 -2% $11,376,825
PLL Piedmont Lithium Inc 0.97 -2% $419,225,400
CY5 Cygnus Gold Limited 0.475 -2% $89,178,993
QXR Qx Resources Limited 0.047 -2% $43,049,391
AM7 Arcadia Minerals 0.23 -2% $10,974,005
QPM Queensland Pacific 0.1075 -2% $192,098,271
NVA Nova Minerals Ltd 0.625 -2% $134,434,644
INR Ioneer Ltd 0.41 -2% $881,302,072
CHR Charger Metals 0.4 -2% $17,922,891
EUR European Lithium Ltd 0.075 -3% $111,591,416
LKE Lake Resources 0.75 -3% $1,093,357,421
GLN Galan Lithium Ltd 1.21 -3% $382,109,679
PSC Prospect Res Ltd 0.165 -3% $78,584,109
STM Sunstone Metals Ltd 0.032 -3% $86,474,732
PLS Pilbara Min Ltd 4.785 -3% $14,809,969,281
CXO Core Lithium 1.04 -3% $1,988,944,069
DAL Dalaroometalsltd 0.089 -3% $2,748,500
MMC Mitremining 0.295 -3% $10,975,456
BMM Balkanminingandmin 0.44 -3% $20,371,266
GW1 Greenwing Resources 0.29 -3% $44,477,660
MNS Magnis Energy Tech 0.415 -3% $417,242,538
MLS Metals Australia 0.055 -4% $34,601,063
GT1 Greentechnology 0.825 -4% $163,081,326
LTR Liontown Resources 1.465 -4% $3,339,056,509
AKE Allkem Limited 12.83 -4% $8,493,605,706
INF Infinity Lithium 0.13 -4% $62,449,933
SGQ St George Min Ltd 0.078 -4% $67,828,229
TYX Tyranna Res Ltd 0.025 -4% $62,541,058
CAI Calidus Resources 0.245 -4% $112,035,659
OCN Oceanalithiumlimited 0.355 -4% $13,473,180
RDT Red Dirt Metals Ltd 0.455 -4% $211,331,058
LLL Leolithiumlimited 0.6075 -4% $626,527,139
IMI Infinitymining 0.22 -4% $17,590,013
LIS Lisenergylimited 0.355 -5% $62,217,820
WML Woomera Mining Ltd 0.016 -6% $16,254,741
DTM Dart Mining NL 0.046 -6% $7,625,407
ASN Anson Resources Ltd 0.22 -6% $276,889,907
1MC Morella Corporation 0.0135 -7% $88,429,416
RGL Riversgold 0.025 -7% $25,527,628
VKA Viking Mines Ltd 0.012 -8% $13,328,360
MRR Minrex Resources Ltd 0.035 -8% $41,224,965
DRE Dreadnought Resources Ltd 0.1 -9% $362,310,104
LSR Lodestar Minerals 0.0045 -10% $8,692,187
AML Aeon Metals Ltd. 0.024 -11% $29,602,817
AVW Avira Resources Ltd 0.0025 -17% $6,401,370

 

A total of 36 companies closed in the green, 47 fell flat and 54 tumbled into the red.

 

Who’s got news out?

ZENITH MINERALS (ASX:ZNC)

A major new lithium geochemical target has been identified at the Split Rocks lithium project in Western Australia, named ‘Cielo’.

The anomaly, which hasn’t been previously drill tested, is >9km long by 2km wide and returned a peak auger soil value of 117ppm Li.

Planning is underway for an air core drill program to test the new Cielo lithium geochemical target whilst RC drilling of Anomaly A3 is planned for early 2023.

 

LIGHTNING MINERALS (ASX:L1M)

Initial findings from a geophysical review has identified 28 targets across Lightning Minerals’ Dundas Project, supporting its exploration strategy for critical minerals and lithium.

The company says these geophysical targets and geochemical data will be used as the basis for drill program planning with Lightning Minerals’ geologists on site this week.

“These early results continue to build the company’s confidence in the Dundas region as a significant lithium district,” L1M CEO Alex Biggs says.

“With geophysical targets occurring along similar interpreted structures and lithologies as known lithium mineralisation to the north, the results are very promising.”

L1M is also investigating the geophysical target identified by Southern Geoscience Consultants on tenement E63/2001 as well as other Dundas tenements where soil sampling is continuing.

 

CRITICAL RESOURCES (ASX:CRR)

Exceptional grade, low-impurity, coarse spodumene concentrate has been produced from CRR’s Mavis Lake lithium project in Ontario, Canada.

The first tranche of metallurgical test work, utilising simple heavy liquid and magnetic separation processes have delivered concentrate results up to 6.42% Li2O.

These high lithium grades, couples with ‘extremely low’ impurities demonstrates excellent potential for Mavis Lake to produce premium quality concentrate, the company says.

“Metallurgical test work is a key step in advancing Mavis Lake along the development pathway,” CRR MD Alex Cheeseman says.

“Concentrate with this type of specification, commands a premium in the market.”

Results will form the basis of scoping study work into the Mavis Lake project, due for completion mid-CY2023.

 

The post Eye on Lithium: Battery production is set to pass 1TWh. We need 300TWh all up to be ‘fully sustainable’, Elon Musk says appeared first on Stockhead.

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