Eye on Lithium: The world’s top ten battery producers are on a 400pc growth trajectory by 2030

• Lithium Energy encounters intersections of conductive brines in two drill holes at Solaroz
• Sayona reaches a new milestone in the restart of lithium production at NAL
• Leo Lithium says it has hit the ground running in 2023 with construction activities on schedule and budget at Goulamina

All your lithium news, Tuesday January 31.

 

In 2022, three battery producers – CATL, LG Energy Solution, and BYD accounted for 45% of all lithium-ion battery cell production.

The top ten battery producers held 70% of the pie.

 

By 2030, Benchmark Mineral Intelligence (BMI) predicts these same top ten producers to increase production by 400% on the back of expansion plans in a bid to keep up with rising EV sales.

“The world’s largest battery producer, CATL, is set to see the largest absolute growth in battery production this decade, growing output by over half a terrwatt hour between now and 2030,” BMI says.

China’s dominance in vertical integration across the rest of the EV supply chain puts the country way ahead of other manufacturing nations, BMI adds.

In 2022, Chinese companies accounted for 57% of the top ten’s production output but with Svolt and Sunwoda soon expected to join the list – China’s market share will increase to 70% by 2030.

 

Here’s how ASX lithium companies are tracking:

A total of only 30 lithium stocks finished in the green, 46 fell flat and 61 tumbled into the red.

 

Who’s got news out?

LITHIUM ENERGY (ASX:LEL)

Lithium Energy has encountered intersections of conductive brines in two drill holes within the flagship Solaroz Lithium Brine project.

The results follow the significant lithium discovery made by the company at the first drill-hole where hits of up to 235m of lithium brine mineralisation were returned.

LEL says they add confidence to the geological model and that extensive occurrences of conductive brines are present.

Once lithium assay results on these holes have been received, Lithium Energy will move to the establishment of a maiden resource.

 

SAYONA MINING (ASX:SYA)

Sayona has reached a new milestone in the restart of lithium production at the North American Lithium (NAL) operation with a successful trial feed of ore into the crushing plant.

Around 400t of spodumene ore were processed as part of the concentrator commissioning, an important step in the restart process.

Each component (automation, electrical, mechanical) was checked and tested by the pre-operational verification teams.

The company expects to produce the first tonnes of lithium spodumene at NAL sometime this year.

 

LEO LITHIUM (ASX:LLL)

Leo Lithium says it has hit the ground running in 2023 with construction activities on schedule and budget at the Goulamina Lithium project in West Africa.

The company is working towards its goal of first spodumene production in the first half of 2024, alongside the accelerated revenue opportunity from its direct shipped ore in 2023.

Drilling at the NE Domain continues with a further resource updated targeted for the first half of 2023.

 

GLOBAL LITHIUM RESOURCES (ASX:GL1)

GL1 has received assay results for 3,500m of drilling at the Manna Lithium project ahead of scoping study set for completion sometime this quarter.

The results, which include hits such as 17m at 1.60% Li2O from 114m and 15m at 1.20% Li2O from 107m, will be added to the current mineral resource estimate at Manna.

The 2023 exploration program is currently underway to map out the larger tenement area since reaching 100% ownership.

 

PAN ASIA METALS (ASX:PAM)

Pan Asia has wrapped up a $4.5m placement at a premium price of $0.40c per share (an 8.1% premium to the last closing price of $0.37) after receiving the support of two Thai-based institutional investors and one Australian institutional investor.

Funds will be used to drive the company’s exploration and development activities at Reung Kiet later in 2023 which will include drilling at the Bang I Tum prospect as well as assessing the potential for standalone midstream lithium chemical conversion opportunities in South East Asia.

 

ENTERPRISE METALS (ASX:ENT)

Follow-up soil sampling has further defined four pegmatite zones, announced in November 2022 at the Bullfinch North project, with results of 50 follow-up soil samples now added to the existing 235 soil samples previously collected.

Of the 50 recent infill soil samples, twelve recorded between 90ppm – 202ppm Li2O, along with elevated caesium and rubidium.

These additional assay results have resulted in further enhancement and definition of the location and tenor of the Enterprise Li rich soil zone discoveries.

While undertaking the follow-up sampling and mapping, Enterprise’s geological team located a number of new pegmatite subcrops which add confidence to the developing geological interpretation.

Geological mapping is now in progress to best locate pegmatite subcrop samples to complement the existing soil geochemical database.

 

IRIS METALS (ASX:IRI)

Iris has received an investment of A$1.5m from the Electrification and Decarbonisation AIE LP Fund, a fund managed by Waratah Capital, for the advancement of the South Dakota Lithium project.

The company will issue 1,500,000 fully paid ordinary shares at a price of $1 per share through a placement, including the issue of 750,000 options.

“We have received a lot of incoming enquiries about our Lithium Project in South Dakota,” Iris chairman Simon Lill says.

“Waratah are a significant and successful Lithium investor and we are thrilled to have their investment validation for what the Iris team has put together.”

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