5E Advanced Materials, known for its focus on boron and lithium, has announced the selection of Fluor Corporation as its engineering, procurement, and construction (EPC) services provider. This partnership is set to advance the engineering process work on the commercial Phase 1 of the 5E Boron Americas Complex. Engineering Progression Executive Insights The collaboration between...
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Hyundai Motor, a major player in the electric vehicle (EV) sector, has further secured its foothold in the EV battery market by signing a lithium supply deal with Ganfeng Lithium Co., a leading Chinese supplier. This agreement, effective until December 31, 2027, guarantees Hyundai a steady supply of battery-grade lithium hydroxide for the next four...
READ MOREChina has announced a significant discovery of a lithium reserve in Yajiang county, Sichuan province. This discovery of approximately 1 million tonnes of lithium, a critical component in lithium batteries for electric vehicles (EVs), marks a notable development in the country’s pursuit of energy and resource security. The Ministry of Natural Resources revealed the substantial...
READ MOREAlbemarle, a major player in the lithium industry, has announced significant cutbacks in its operations and capital expenditure at the Kemerton lithium processing plant in Western Australia due to the recent downturn in lithium prices. Key Details: – Cost-Cutting Measures: Albemarle has reduced its 2024 capital expenditure from $2.1 billion in 2023 to between $1.6...
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Ganfeng Lithium, a major player in the lithium industry, has recently increased its equity interests in Mali Lithium B.V., which will boost its stake in the Goulamina Project in Mali. This development was approved during the Sixty-eighth Meeting of the Fifth Session of the Company’s Board of Directors on September 6, 2023. Key Details of...
READ MOREPresident Paul Kagame of Rwanda recently met with Rio Tinto CEO Jakob Stausholm at the World Economic Forum in Davos. The discussion centered on partnerships and investment opportunities in Rwanda’s burgeoning mining sector. Key Developments: Strategic Importance of Lithium: Rwanda’s Mining Sector Growth: The partnership with Rio Tinto signals a major step forward in Rwanda’s...
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Bessemer, Alabama Facility Now Active LiTHOS Energy has announced the full commissioning of its lithium processing facility in Bessemer, Alabama. This facility is currently processing lithium-enriched brines from the largest producing Salars in Chile and Argentina, utilizing the Company’s patent-pending AcQUA technology. – The 55,000 sq ft Bessemer complex triples LiTHOS’s capacity to onboard new...
READ MOREThe recent agreement between SQM and Codelco over lithium production in the Salar de Atacama has sparked a significant debate, especially following businessman Francisco Javier Errázuriz Ovalle’s critique of the deal. Errázuriz calculated the value of 49.999% of the partnership at approximately US$ 12.9 billion, contrasting it with the US$ 1.8 billion valuation based on...
READ MOREEV Metals Group (EVM), a global battery chemicals and technology company, has entered into a frame agreement with Metso Corporation to establish a Lithium Chemicals Plant (LCP) in Yanbu Industrial City, Saudi Arabia. The agreement, signed at the Future Minerals Forum in Riyadh, designates Metso as EVM’s key Technical Partner for the project. Metso will...
READ MOREThis Week in Metals: Alcoa’s Refinery Closure, Saudi Arabia’s Gold Discovery, and Lithium’s Market Dynamics Alcoa Announces Significant Reduction at Kwinana Alumina Refinery Alcoa, a prominent US metals corporation, is set to completely shut down its Kwinana alumina refinery in Australia this year. The shutdown process is slated to begin in the second quarter of...
READ MORENickel Market Faces Unprecedented Oversupply and Price Declines in 2024 The nickel industry is bracing for a challenging 2024, with experts predicting a substantial oversupply in the market. Budi Frensidy, a capital market observer from the University of Indonesia, forecasts the largest nickel surplus in history, leading to a continued decline in prices. This comes...
READ MOREProspect Lithium Zimbabwe (PLZ), a subsidiary of China’s Zhejiang Huayou Cobalt Limited, has invested over US$700 million in acquiring and establishing a processing plant at its Arcadia Lithium Mine in Goromonzi District, Mashonaland East Province. This investment signifies a major commitment to the development of the lithium industry in Zimbabwe. The expenditure on the Arcadia...
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Amendment to Existing Agreement Australian lithium producer Pilbara Minerals has announced an amendment to its existing offtake agreement with Ganfeng Lithium Group and its subsidiary, significantly increasing the supply of spodumene concentrate. This amendment enhances the short and medium-term supply to Ganfeng, a leading lithium chemical converter. Details of the Revised Supply Terms The original...
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Term Sheet Signing with U.S. Customer International Battery Metals (IBAT) has signed a term sheet for the deployment of its Modular Direct Lithium Extraction Plant (MDLE Plant) with a customer in the western United States. This customer is noted for being a significant producer of metals and minerals, including battery-grade lithium carbonate. IBAT’s MDLE Plant,...
READ MOREInternational Battery Metals (IBAT) announced that it has leased its portable direct lithium extraction (DLE) plant to a customer planning to start lithium production for electric vehicle batteries in the United States within the next six months. This development positions IBAT as the first company to commercially produce lithium using DLE technology, marking a significant...
READ MOREDespite an 80% drop in 2023, lithium prices are projected to fall further this year. The Australian Office of the Chief Economist (AOCE) in its Resources and Energy Quarterly forecasts a decline in lithium prices due to surplus production. The spot price of spodumene is forecasted to fall to $2,200 in 2025, while lithium hydroxide...
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The Financial Market Commission (CMF) in Chile has requested Codelco to furnish a comprehensive list of individuals involved in the negotiation with SQM regarding the extension of their lithium extraction contract in the Salar de Atacama until 2060. This inquiry aims to investigate potential trading of shares in the non-metallic mining company during the eight-month...
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Eureka Lithium Corp. continues its detailed review and assessment of the Lac La Motte lithium project, as part of its ongoing due diligence under the letter of intent with Medaro Mining Corp. This process is a precursor to the negotiation and drafting of the Definitive Agreement with Medaro. The Lac La Motte property, situated in...
READ MOREThe recent agreement between SQM and Codelco, labeled by President Boric as a pragmatic and unprecedented milestone in the National Lithium Strategy, has sparked significant debate. The strategy aims for state control over lithium production, a resource often termed as ‘white gold’. Critics argue that the agreement represents a missed opportunity for the state. SQM,...
READ MOREChina reported a production of 20,330 metric tons (mt) of lithium hydroxide in December 2023, marking a 3% month-on-month (MoM) decrease and a 20% year-on-year (YoY) decline. This downturn is attributed to a combination of factors including weak market supply and demand, and the commissioning phase of new production lines which has led to sluggish...
READ MOREIvanhoe Mines’ impressive copper production in the Congo was paralleled by Nickel 28 Capital’s robust output in Papua New Guinea, signaling strong market resilience. Meanwhile, Conexus Resources Group’s inauguration of a major aluminium rod facility in Bahrain marked a significant stride in the Middle East’s manufacturing landscape. Spain, however, grappled with environmental challenges in its...
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Detailed Resource Analysis of Evergreen Brine Unit Tetra Technologies has finalized a comprehensive Technical Resources Study for its Evergreen Brine Unit in Arkansas. This 6,138-acre unit, formed in collaboration with Saltwerx, a subsidiary of ExxonMobil, represents a significant step in resource development, being the first newly established brine unit in Arkansas in nearly 28 years....
READ MOREDespite starting the year at a peak, lithium prices experienced a dramatic plunge in 2023, dropping by 82% from their highest point. This fall was unexpected, given the industry’s initial belief that the decline would be temporary and moderate. However, the price of this crucial metal in electric vehicle (EV) battery production fell to less...
READ MOREFull-Cycle Lithium Cell Production Belarus is in discussions with the Russian state corporation Rosatom to establish a comprehensive factory dedicated to the production of energy storage cells. Stanislav Levitsky, CEO of Rosatom Bel, announced this development at a recent news conference. Project Details and Scope The project, a joint venture between Belarus and Rosatom, focuses...
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