China’s Tianqi Lithium Corp has struck an agreement to extend the maturity dates on more than $3 billion in loans, it said, after a last-ditch asset sale was enough to persuade lenders to give the company more time to pay.
Contemporary Amperex Technology’s shares surged after the world’s biggest maker of power batteries for electric vehicles announced plans to invest as much as CNY39 billion (USD6 billion) in new production capacity.
Indonesia and a unit of South Korean firm LG Group have signed a memorandum of understanding (MOU) on a $9.8 billion electric vehicle (EV) battery investment deal, the head of Indonesia’s Investment Coordinating Board said on Wednesday. The deal was signed on Dec. 18 and includes investments across the EV supply chain, the board head, Bahlil Lahadalia, told a news conference.
China’s Sichuan Yahua Industrial Group Co Ltd said on Tuesday it had signed a deal to supply battery-grade lithium hydroxide to U.S. electric vehicle (EV) manufacturer Tesla Inc for the next five years.
“We are significantly increasing the number of electric vehicles. Between 2021 and 2023, we will build a quarter of a million more electric cars than originally planned”, Zipse told the newspaper’s Monday edition according to a pre-released version. BMW wants roughly every fifth car it sells to be powered by an electric engine by 2023, Zipse said, compared to about 8% this year.
Chile’s SQM said on Tuesday it had inked a long-term agreement with LG Energy Solution to supply the South Korean battery maker with ultralight metal lithium, a main ingredient in powering electric vehicles. SQM, the world’s No.2 producer of lithium, said the contract would run between 2021 and 2029 and involves the supply of approximately 55,000 metric tons of lithium carbonate equivalent, SQM said in a statement.
The price of battery packs for electric vehicles is fast approaching a tipping point. According to a price survey conducted by BloombergNEF, EV makers soon will be producing models that are as affordable - and as profitable - as comparable combustion engine models, and without the help of tax subsidies.
The US government’s Department of Energy (DoE) has described its just-published Energy Storage Grand Challenge Roadmap as its first comprehensive strategy on energy storage, identifying cost and performance targets to be met in the coming years. Among other things, it sets out a target for the levelised cost of long-duration energy storage to be reduced by 90% over the next nine years.
Apple Inc is moving forward with self-driving car technology and is targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology, people familiar with the matter told Reuters.
Canada wants deeper environmental ties with the United States and one result could be a North American ban on the sale of new gasoline-powered passenger cars and trucks, a senior cabinet member said on Thursday.
In a potentially game-changing move, seven of Europe’s largest truck manufacturers – Daimler, Scania, Man, Volvo, Daf, Iveco, and Ford – have signed a pledge to phase out traditional combustion engines by 2040, focusing instead on hydrogen, battery technology, and clean fuels.
LG's new battery business unit is set to become the first company to produce batteries with nickel, cobalt, manganese and aluminum (NCMA) anode materials for EVs next year. LG Energy Solution is set to provide the NCMA batteries to Tesla, according to industry sources.
China’s Contemporary Amperex Technology (CATL) plans to invest $5 billion in a lithium battery plant in Indonesia, Indonesia’s deputy minister at the coordinating ministry of maritime and investment affairs said on Tuesday. The lithium battery plant will start production in 2024, deputy minister, Septian Hario Seto, told a virtual briefing.
Global energy storage capacity could amount to 741 GWh by the end of the decade, representing a 31% compound annual growth rate, analysis from Wood Mackenzie has found - and the U.S. could make up nearly half of that. The average cost of lithium-ion battery cells is expected to drop during that timeframe, according to IHS Markit, falling below $100 per kWh in the next three years and potentially dipping to as low as $73 per kWh by the end of the decade.
Tesla, the U.S. automaker, will send delegations to Indonesia next month to discuss potential investment in a supply chain for its electric vehicles, the government said on Saturday in a statement. President Joko Widodo has touted Indonesia’s nickel reserves on a number of occasions, telling Reuters last month that “it’s very important because we have a great plan to make Indonesia the biggest producer of lithium batteries and we have the biggest nickel (reserves).”
Britishvolt said the plant in Blyth would create up to 3,000 jobs, with a further 5,000 expected in the wider supply chain. Construction is due to start next summer, with production of the lithium-ion batteries by the end of 2023. The firm said the £2.6bn scheme was the largest industrial investment in the North East since the arrival of Nissan.
Solid Power, a battery startup backed by Ford Motor Co., said it’s on track to begin testing solid-state batteries for automotive production in early 2022, a signal it eventually could help established car companies compete with Tesla Inc. The startup, which was spun out of the University of Colorado in 2014, began making battery cells on a pilot line in its Colorado facility during the second quarter of this year. Those first-iteration cells already pack 15% to 20% more power than the lithium-ion batteries used in today’s electric cars, Chief Executive Officer Doug Campbell said.
IGO has agreed to pay $US1.4 billion ($1.9 billion) for a 24.99 per cent interest in Greenbushes and 49 per cent interest in Australia’s first lithium hydroxide plant Kwinana from Tianqi. IGO shares have surged after the company secured the main equity funding needed to stage its entry into the lithium sector, all but confirming the second major piece of consolidation in a commodity class emerging from a period marred by oversupply. IGO returned to trade after management told investors it had locked in $707 million in commitments from institutional investors paving the way for it to buy 49 per cent of Tianqi's interests in Australia, including a stake in the world's largest hard-rock lithium mine, Greenbushes.
So far this week - and it’s only Friday - there are announcements from Ford, BMW, Toyota, and Solid Power claiming solid state battery technology is just around the corner.
LG Energy Solutions is planning to launch a battery development project in Indonesia. The five-year project is estimated to cost approximately 10 trillion won (AUD$12bn) and the company will form a consortium with four enterprises run by the Indonesian government - Mining Industry Indonesia, Antam, Pertamina and PLN. LG International will take part in the project, too. The two LG Group subsidiaries’ investment in the project is estimated at two trillion won or more. A memorandum of understanding for the initiation of the project is scheduled to be signed on Dec. 18. In this project, a series of joint facilities will be built to handle the processes of nickel mining, smelting, refining, and precursor, positive electrode material and cell production.
A trip of 500 km on one charge. A recharge from zero to full in 10 minutes. All with minimal safety concerns. The solid-state battery being introduced by Toyota promises to be a game changer not just for electric vehicles but for an entire industry.
The project consists of 1,118 megawatts of solar and 2,165 megawatt-hours of energy storage.The Edwards & Sanborn project is located near several operating wind and solar projects in Kern County, California.
Nickel and gold miner IGO Limited says it has bought at the bottom of the lithium market by snaring a big chunk of mining and processing assets controlled by struggling Chinese battery metals company Tianqi. The deal comes as Wesfarmers faces D-Day on its big ticket lithium project in Western Australia and as battery metals giant Albemarle moves closer to producing its first lithium hydroxide from a plant being built in the state's south-west.
Tianqi Lithium Corp.’s rush to dominate supply of lithium -- the metal that’s key for batteries to power electric cars and back up renewable energy -- has ended in the selldown of its majority stake in the world’s most coveted mine, a blow to China’s ambitions to exert control across the supply chains required for an electrified future.
A "turning point" has been reached when it comes to the electrification of vehicles, according to the chief operating officer of Nissan, with the Japanese automotive giant "ready to address that opportunity everywhere in the world".
Posco Chemical said it will supply cathodes, one part of lithium-ion batteries used in EVs, to Ultium Cells, a battery joint venture of American automaker General Motors Co. and South Korean chemical firm LG Energy Solution Ltd.
Steep price gains for nickel, copper and lithium producers are attracting fund managers to the industrial metals sector as leading producers are starting to opportunistically raise capital and arrest a period of underinvestment.
The increased use of renewable energy, the deployment of electric vehicles and the use of hydrogen in metals processing will be key to achieving carbon neutral mining, representatives of Australia’s largest resources company has told an international mining summit.
Rio Tinto has today disclosed to the Australian Securities Exchange (ASX) a maiden Ore Reserve and updated Mineral Resource at the 100% owned Jadar lithium-borates project in western Serbia. The Ore Reserve is 16.6 Mt at 1.81% Li2O and 13.4% B2O3. The Mineral Resource underlying the maiden Ore Reserve has been updated to incorporate additional drilling which resulted in an updated geological model. Mineral Resources are reported exclusive of Ore Reserves. The Mineral Resource comprises 55.2 Mt of Indicated Resource at 1.68% Li2O and 17.9% B2O3 with an additional 84.1 Mt of Inferred Resource at 1.84% Li2O and 12.6% B2O3.
The European Commission seeks to have at least 30 million electric vehicles on the region’s roads by the end of the decade under a plan that would require the auto industry to massively accelerate its transformation.
Japan may ban sales of new gasoline-engine cars by the mid-2030s in favour of hybrid or electric vehicles, public broadcaster NHK reported on Thursday, aligning it with other countries and regions that are imposing curbs on fossil fuel vehicles.
South Korea’s LG Chem Ltd plans to more than double production capacity of battery cells it makes in China for Tesla Inc electric vehicles (EV) next year, sources said, to keep up with its U.S. client’s growth in the biggest car market.
from the ASX...20 metric tonne cargo comprises battery quality >99.5% lithium carbonate product from Argosy’s industrial scale pilot plant, scheduled for shipment this month.
Korean customer specialises in various end-use chemical supply applications, including LiPF6 battery electrolyte and other battery applications, where ultra-high purity lithium carbonate product is necessary.
20 metric tonne Sales Contract executed with international benchmark fixed sales price agreed - based on S&P Global Platts’ assessed battery-grade quality lithium carbonate CIF North Asia price.
Further validation of the Company’s exclusive and proprietary environmentally clean chemical process technology to produce high purity battery quality lithium carbonate product acceptable for high-specification international markets.
Korean battery quality lithium carbonate market targeted by Argosy for potential larger oft-take arrangements.
AVZ signs strategic offtake agreement with GFL International Co. Limited, a subsidiary of Ganfeng Lithium Co Ltd.
Ganfeng is China’s largest lithium compound producer.
Initial 5-year term with GFL and option to extend for further 5 years.
GFL to purchase up to 160,000 metric tonnes per annum of spodumene concentrate.
European Metals Holdings Limited (ASX & AIM: EMH) (”European Metals" or the ”Company”) is pleased to announce the arrangement of a further funding agreement with 6466 Capital Limited. The agreement allows for the draw down of up to AUD 1 million in tranches as required over 12 months. Any funds drawn down will convert to CDI's in the Company at a price equal to a 15% discount to the 10 - day volume weighted average price of the Company's securities. The issue of shares pursuant to draw downs is not subject to shareholder approval.
Tier 1, world class lithium brine asset now also in the first quartile of global lithium cost production curve.
Long life production (40 years+) of 20,000tpa of battery grade lithium carbonate equivalent (LCE).
Robust economic results, with unlevered pre-tax NPV of US$1,011m (8% discount rate) and lRR of 22.8% with a 4.3 year payback period.
Cash cost of production for Li2CO3 of US$3,518/t positions Galan as one of the lowest in the industry.
Initial capital cost of US$439m (US$338m without 30% contingency).
Average Iife-of-mine annual pre-tax EBITDA of US$174m (full production period).
RoskiII average real long term LCE price (2020-2040) of US$11,687/t LCE used as the basis for the economic assessment.
Scoping Study/ PEA completed with assistance of highly regarded, professional services engineering consultants.
PEA only utilises ~60% of the current HME Mineral Resource providing significant flexibility to increase future lithium carbonate production rates.
Completion of Del Condor acquisition provides potential financial upside to optimise the Project layout in next study phase, with ability to reduce Opex and Capex estimates further.
IGO Limited is pleased to announce that it has entered into a binding agreement with Tianqi Lithium Corporation to acquire a 49% non- controlling interest in Tianqi Lithium Energy Australia Pty Ltd (Lithium HoIdCo) through a subscription for new shares in Lithium HoldCo. This will provide IGO with a 24.99% indirect interest in the world-class Greenbushes Lithium Mining and Processing Operation and a 49% indirect interest in the Kwinana Lithium Hydroxide Plant, both located in Western Australia, for a total consideration of US$1.4 billion (A$1.9 billionl). Lithium HoldCo will become the exclusive vehicle for all lithium related investments for IGO and Tianqi outside of China.
IGO Limited is pleased to announce the successful completion of its placement to institutional investors and the institutional component of its 1 for 8.5 accelerated pro-rata non-renounceable entitlement offer of new fully paid ordinary IGO shares (New Shares).
As a result, the combined proceeds of the Equity Raising are expected to total A$766 million and will be part of a broader funding package including A$1,100 million of new debt facilities and approximately A$86 million from existing cash reserves to acquire a 49% non-controlling interest in Tianqi Lithium Energy Australia Pty Ltd (Lithium HoIdCo) through a subscription for new shares in Lithium HoldCo.
This will provide IGO with a 24.99% indirect interest in the world-class Greenbushes Lithium Mining and Processing Operation and a 49% indirect interest in the Kwinana Lithium Hydroxide Plant, both located in Western Australia, for a total consideration of US$1.4 billion (A$1.9 billion).
Junta of Extremadura announces the granting of Investigation Permit Ampliacién a Valdeflorez.
The Extremadura Department of Mines continuing to advance Investigation Permit Valdeflorez.
Derived exploitation concession application progressing towards Iodgement next year
In line with its commitment to generate value for its shareholders the Company has decided to advance the low cost Maricunga Lithium Brine Project in a number of stages by fast-tracking a first stage development. This development strategy will be undertaken as the company also continues to pursue the original and larger project.
Pilbara Minerals Limited is pleased to announce that it has entered into a Share Sale Agreement with AItura Mining Limited and Richard Tucker and John Bumbak in their capacity as joint and several receivers and managers of AItura for the acquisition of the shares in AItura Lithium Operations Pty Ltd, which owns AItura’s Pilgangoora Lithium Project, for US$175 million.
Pilbara Minerals Limited is pleased to announce it has received temporary royalty relief assistance from the Western Australian Government.
As of today, Pilbara Minerals has been granted a temporary 50 per cent royalty rebate on spodumene concentrate produced and sold from its Pilgangoora Lithium-Tantalum Project. Currently spodumene producers are required to pay a 5% state royalty based on revenue received (FOB basis) from spodumene concentrate sales.
This assistance will be provided for up to 12 months.
Pilbara Minerals Limited is pleased to advise that the creditors of Altura Lithium Operations Pty Ltd approved Pilbara Minerals’ proposed Deed of Company Arrangement at the second meeting of creditors held today.
The approval by ALO creditors and execution of Pilbara Minerals’ sponsored DOCA on 11 December 2020 satisfies an important pre-condition to the proposed acquisition of the neighbouring Altura Project for US$175 million.
Acquisition to be largely funded through a A$240 million equity raising, comprising a A$119 million cornerstone placement (now complete) and a A$121 million fully-underwritten 1-for-7.6 non-renounceable entitlement offer (launching today), both at a fixed offer price of A$0.36 per share.
The acquisition provides a unique opportunity to realise tangible operational synergies by consolidating the two neighbouring projects into a single integrated operation.
Renascor Resources has been accepted into the newly formed European Raw Materials Alliance (ERMA).
ERMA was established in September 2020 by the European Commission, the Executive Branch of the European Union, to provide European countries strategic access to Critical Raw Materials (CRMs).
The European Commission's list of CRMs includes Natural Graphite, for which Renascor holds the largest reported Ore Reserve outside of Africa, and the second largest Proven Reserve in the world.
Membership to ERMA provides Renascor the opportunity to collaborate with European end-users seeking reliable, secure and sustainable access to Graphite Concentrates and Purified Spherical Graphite as part of Europe's increasing investment in the lithium-ion battery supply chain.
Battery anode company Talga Group Ltd is pleased to announce the completion of its scoping study on the Niska South, Niska North and Nunasvaara North graphite resources in northern Sweden.
Key outcomes from the Study demonstrate strong support for a stand-alone mine and anode refinery, with robust economics driven by high graphite resource grade, high anode product yields and vertical integration capturing full margins of the anode value chain.
The Company sees the Study as an important milestone towards adding significant future anode production capacity. The Niska production, planned for 2025 onwards, when combined with the existing Vittangi Anode Project operation, would form the largest natural graphite anode producer in the world and largest anode producer outside Chinal.
From 1 January 2026, lithium-ion batteries will have to bear a carbon intensity performance class label and from 1 July 2027, must comply with maximum carbon footprint thresholds. The EU will ban batteries not meeting the new regulation.
Vulcan Managing Director, Dr. Francis Wedin, commented: “We welcome these announcements fiom the European Commission, which are a major endorsement of Vulcan’s Zero Carbon Lithium® strategy. Decarbonisation, responsibly sourced lithium and renewable energy are the foundation of Vulcan. Our early adoption of this strategy gained EU support and puts us at the forefront of the lithium sector where companies will have to adapt to the rapidly evolving global aims of decarbonisation in the production process and responsibly sourced materials. With our PPS due shortly we go into 2021 knowing that our project, process and product, to produce battery quality lithium hydroxide for electric vehicles in Europe for the European market with net zero carbon footprint, will be strongly supported by EU regulations.
from Twitter...Long term contracts prevail for lithium and cobalt as EV supply chain prepares for growth spurt | Benchmark Mineral Intelligence https://t.co/fBrPzkIgI7
— Simon Moores (@sdmoores) December 22, 2020
The joint project with Eramet is expected to provide #BASF steady access to #nickel #cobalt #rawmaterials for #precursor/#cathode materials production. However, #ESG concerns remain for this source of nickel. https://t.co/B3YQRoyCvc @Roskill_Info
— Kevin Gunan Shang (@GunanKevin) December 21, 2020
LG Chem supplies NCMA w 90% Ni for Tesla Shanghai from 01/21 - 12/22 for 1.3bn USD (2y). The speed in Asia is just phenomenal where LG Chem persuaded Tesla to NMC811 in its CN M3 in 2019 and now 2y NCMA9 before next innovation comes. Simply awesome.https://t.co/D6j0X5RY7g
— Battronics (@BattronicsAG) December 17, 2020
⚡️⚡️????????"Leading battery manufacturers are now enjoying gross margins of up to 20% and their plants are operating at utilization rates over 85%." - wow! https://t.co/H4tMGETCqU
— Martin Beuse (@mart_di_be) December 16, 2020
The evolution of lithium-ion battery pack prices:
— Nat Bullard (@NatBullard) December 16, 2020
2010: $1,191/kWh
2011: $924
2012: $726
2013: $668
2014: $592
2015: $384
2016: $295
2017: $221
2018: $181
2019: $157
2020: $137
(all real 2020$)
Annually from @BloombergNEF; analysis by @JamesTFrith https://t.co/sxeZUEBQkZ pic.twitter.com/cSPRcGqed4
Another record month for #electricvehicles in Germany also in Nov 2020, BEVs just below 10% and PHEVs at 10.6% @colinmckerrache https://t.co/VDN490u78H pic.twitter.com/iytNfCyZXC
— Eyvind Aven (@eyaven) December 14, 2020
Korea lithium imports gaining pace. Last 12 month Li2CO3 31 and LiOH 36 kMT (total 67) , compared with 38 and 22 kMT one year ago (total 60). Korea´s transition to high Ni cathode chemistry is visible but Li2CO3 has started to grow again. pic.twitter.com/HEawTQVbNp
— Daniel Jimenez Sch (@D_Jimenez_Sch) December 15, 2020
“The government said it aimed to develop a ‘battery ecosystem’ from mineral extraction and processing, to research and design, to manufacturing and recycling.”
— RockTech Lithium #Lithium #ElectricVehicles #EVs (@RockTechLithium) December 12, 2020
cc: @JustinTrudeau
@NavdeepSBains
@fordnation
@ONgov https://t.co/7Ih2Ye2hsf
Breaking: New EU battery directive will require domestic and imported Li-ion industrial and xEV batteries sold in the EU to contain recycled content comprising 12% #cobalt, 4% #lithium and 4% #nickel from 2030 and 20% cobalt, 10% lithium and 12% nickel from 2035.
— Robert Baylis (@robertbaylis) December 10, 2020
LG Chem to purchase renewable energy from China for carbon neutrality.
— Lithium News (@batt_li) December 14, 2020
LG Chem is set to receive 140GWh worth of renewable energy annually, which is enough to power 30,000 households for over a year and to fully power LG's Wuxi plant.#auspol #asx
https://t.co/49pKkx6z6C
Lithium-Sulfur battery can store more energy than the commonly-used Li-ion battery, but its electrode breaks apart quickly. @MahdokhtShaiba2 @monashengineers reengineered the electrode, taking Li-S batteries closer to mass adoption.#scicomm #OpenSciencehttps://t.co/ZjbTh5mgt8
— TheScienceBreaker (@sciencebreaker) December 11, 2020
Today, Solid Power unveiled a new all solid-state lithium metal battery cell. This 22-layer, 20Ah cell surpasses energy densities of any commercially available li-ion cell manufactured today, and was created using continuous roll-to-roll processes that mirror li-ion production. pic.twitter.com/ZveffdBGCS
— Solid Power (@SolidPowerInc) December 10, 2020
This has very big implications for Europe's 2030 automotive CO2 standards.
— Colin Mckerracher (@colinmckerrache) December 11, 2020
These are what's driving EV sales right now. Tightening the 2030 target from 37.5% reduction to +50% reduction will require much higher levels of EV adoption. https://t.co/g697nPFESY
Umicore: We expect 2,168GWh of lithium ion batteries by 2030 - and will require more than a 700% increase in nickel and lithium” #Benchmark2020 #Cathodes2020
— Benchmark Mineral Intelligence (@benchmarkmin) December 8, 2020
Umicore: we will bring Europe’s first cathode production plant on stream by 2021 in Poland #EV #Batteries
— Benchmark Mineral Intelligence (@benchmarkmin) December 8, 2020
China November passenger vehicle sales:
— Colin Mckerracher (@colinmckerrache) December 8, 2020
-Overall market up 7.8% year-on-year
-EVs up over 100%. About 169,000 sold.
Great slide from @benchmarkmin #Benchmark2020 session today from Dr. Ryan Bayliss breaking down what's in a modern Li-ion #battery.
— John Foulkes (@foulkeswagen) December 7, 2020
This is your supply-stream investment thesis folks:
22% #graphite
17% #copper
15% #nickel
8% #aluminium
3% #cobalt
2% #lithium
in this example. pic.twitter.com/tD21C4lRZd
UK November vehicle sales data is out:
— Colin Mckerracher (@colinmckerrache) December 4, 2020
Plug-ins at 16% share (BEV 9%)
Overall market down 27%
BEV sales up 122%
Plug-in hybrid sales up 77%
Happening fast now, and you can start to see it on the streets. pic.twitter.com/HQ1ml71dEt
Combined plug-in share of 80%.
— Colin Mckerracher (@colinmckerrache) December 2, 2020
Gasoline, diesel and traditional hybrids down to just 20%
Diesel looks fully dead in Norway by next year. https://t.co/YFoCMfUYy7
If #nickel #lithium and #cobalt hit their ten-year price highs cell costs would increase $32/KWh! Ever declining li-ion cell costs can not be relied on... More here: https://t.co/rbJgVT3oKk
— Andrew Leyland (@andyleyland1) December 1, 2020