General Motors plans to invest more than $1 billion in a plant in Mexico to produce electric vehicles. The facility will begin producing at least one EV beginning in 2023, GM said. United Auto Workers Vice President Terry Dittes, who leads GM members, called the investment a “slap in the face” to the union members and U.S. taxpayers.
At VW’s ‘Power Day’ in March, an important announcement slipped largely under the radar. From 2022 onwards, new electric vehicle models from VW will support something called bi-directional charging. This means an EV can push power from the battery back up to the electrical grid – or to a home – and potentially be compensated for that service.
Ford announced the launch of a new battery development center in Michigan, the first step toward taking on some of the burden of building its own battery cells for electric cars in-house.
IGO Limited says work is about to restart in earnest on completing Australia’s first lithium hydroxide plant after a troubled history of delays, cost blowouts and legal battles involving the Chinese owner. A handful of workers are back on site at the plant owned by Shenzhen Stock Exchange-listed Tianqi, with a new contractor expected to hit the ground within weeks to complete construction work and start commissioning.
Renault CEO Luca de Meo set new targets for the electrification of the brand in Europe at the annual general meeting. In 2025, the share of electrified passenger cars should be 65 per cent. By 2030, the goal is a share of at least 90 per.
Ferrari will launch its first all-electric model in 2025, with company boss John Elkann promising the machine will “bring the uniqueness and passion” of the marque “to new generations”.
The budget hatchback will have a range of 500km and accelerate from 0-100km/h in 'less than 5.0 seconds', according to the Australian importer.
The shift to electric cars in Europe is proving to have staying power. Fully electric and plug-in hybrid vehicles accounted for about 15% of passenger-car sales in the first quarter, the European Automobile Manufacturers’ Association said Friday. While that’s slightly less than during the three months through December, when stricter emissions rules led to a late surge in shipments, it’s still almost double than the year-earlier period.
This week, Democratic lawmakers introduced legislation that would invest $25 billion to convert the entire US fleet of ICE school buses to electric vehicles. The bill would authorize federal grant money over the course of 10 years, and 40% of the funds would be specifically devoted to replacing school buses operating in mostly nonwhite, poorer communities.
Volkswagen's luxury sports car unit Porsche AG is speeding up its e-mobility drive with plans for a German factory to manufacture battery cells for electric vehicles, its chief executive officer told Frankfurter Allgemeine Sonntagszeitung.
The 2023 Lyriq will mark the beginning of the end of Cadillacs with traditional internal combustion engines when it arrives in dealer showrooms during the first half of next year. There will be no new vehicles from Cadillac with internal combustion engines from now on in North America, only updates to its current lineup of cars and SUVs. Cadillac plans to exclusively offer all-electric vehicles by 2030, ahead of GM’s plans to do the same by 2035.
The business case for battery storage in Australia has been given a major boost with proposed new rules that would reward the technology for its ultra fast response to disturbances on the grid and the key role it can play in keeping the lights on.
The clean energy economy is being made in China. Washington Democrats are launching a late-stage rush to lure it back home. The Biden administration and Congressional Democrats plan to pump taxpayer money into the battery sector — investing in research, backing risky start-ups and developing tax incentives and grant programs to bring not just battery production but also the entire supply chain into the U.S. It’s an attempt at a rapid turnaround after the U.S. largely lost the battle for solar production in the 2010s, when China dumped billions of dollars into its own panel production. The U.S. now trails its economic rival in manufacturing batteries that will drive a coming wave of electric vehicles and make solar and wind more reliable, and the advantage is triggering comparisons to the Middle East’s ability to dominate oil markets decades ago.
SES said on Monday it had raised $139 million in a funding round led by General Motors, as the lithium metal battery startup benefits from rising demand for electric vehicles.
Russian nickel producer, Nornickel, has released plans to expand battery grade nickel capacity at its Harjarvalta refinery in Finland. According to a company announcement on 13 April, the expansions at Harjavalta will be implemented in two phases, with the first phase increasing nickel refining capacity to 75ktpy in 2023 and to over 100ktpy by early 2026. Harjavalta currently has 65ktpy nickel refining capacity. The company cited the growing European market demand for battery raw materials as the main driver for this decision.
Australian lithium miner Orocobre Ltd (ORE.AX) is buying smaller domestic peer Galaxy Resources (GXY.AX) for $1.4 billion to create the world's fifth most valuable producer of the key raw material for electric vehicle batteries. The all-stock deal for A$1.78 billion ($1.38 billion)announced on Monday, which will also establish Australia's most valuable lithium miner with a A$4 billion market capitalisation, comes as demand for the material is booming amid a jump in global sales of electric vehicles.
With an investment in a 7ktpy lithium metal plant, Ganfeng will essentially increase its capacity by over 500% and the plant would be by far the largest of its kind in the world. However, it remains challenging for Ganfeng to directly process lithium metal into thin-film anode without fracture. In addition, due to the environmental concerns surrounding lithium metal production, permitting will be a key challenge for Ganfeng. It is unknown if Ganfeng has sufficient capacity of lithium chloride to supply the new plant or if additional investment in capacity is needed.
Washington State legislature has passed “Clean Cars 2030,” a bill setting a goal to require all light-duty vehicles of model year 2030 or later to be electric. The bill passed as part of a larger package directing utilities to prepare the state for all-electric transportation. With this bill, Washington State becomes the first US state to pass a gas car ban legislatively (as opposed to by executive order), and now has the earliest gas car ban in the US. California and Massachusetts also plan gas car bans by 2035.
GM and LG Chem will invest $2.3 billion in a second U.S. battery cell plant for electric vehicles in Tennessee, the companies announced. The plant will support production of GM’s upcoming Cadillac Lyriq crossover and other future EVs at a nearby assembly plant. The supply and production of battery cells are crucial for automakers pivoting to electric vehicles.
BHP, the nation’s largest miner, expects demand for copper to double and nickel to quadruple by 2050 as faster rollouts of electric cars, solar panels and wind farms use up more of the metals.
France is offering the owners of old, exhaust-belching cars the opportunity to hand over their vehicles for scrap in return for a 2,500 euro ($2,975.00) grant to buy an electric bicycle.
China’s anode majors dramatically stepped up expansion plans in Q1 with billions of dollars of investment cementing Chinese dominance of the anode supply chain. BTR New Energy (BTR) and Putailai led the expansions, announcing plans to build 80,000 tpa and 200,000 tpa, respectively, of additional synthetic anode capacity.
South Korea’s two leading lithium ion battery cell producers have agreed to end their legal battle on US soil with a $1.8bn settlement plus an undisclosed “running royalty” agreement for the domestic production of batteries for electric vehicles (EVs). Both battery majors have also agreed “to withdraw all pending disputes in the United States and Korea, and not assert new claims for the next ten years.”
Battery storage projects are becoming more competitive in relation to new power lines due to falling battery costs. Energy storage projects that provide transmission and distribution services will amount to a $277 billion market between 2020 and 2050, BloombergNEF estimates. Batteries can mitigate grid congestion and defer the need for new power lines. While grid costs are rising or remain flat, the cost of a four-hour duration lithium-ion battery system is expected to drop by 68% to $104 per kilowatt-hour by 2050, from $320 per kWh in 2020.
Rio Tinto Plc said on Wednesday it has begun producing lithium, the ultralight metal used to make electric vehicle batteries, from waste rock at a borates mine it controls in California. A demonstration plant has begun operations with annual production capacity of 10 tonnes of the white metal, the Anglo-Australian company said in a press release. That demonstration plant will run for the rest of the year as Rio decides whether to spend $50 million to build a full-scale production plant with annual capacity of 5,000 tonnes.
SK Innovation Co. agreed to settle with its Seoul-based rival LG Energy Solution, a unit of LG Chem Ltd., to avert a 10-year import ban of its batteries into the U.S. Details of the settlement haven’t been disclosed but an announcement is expected today. The import ban threatened to complicate the rollout of Ford Motor Co.’s new F-150 electric pickup truck and the Volkswagen AG’s ID.4 SUV, both due to begin production next year with EV batteries assembled at an SK Innovation plant in politically important Georgia.
BYD said it would deploy so-called blade batteries in all its purely electric vehicles, betting on the lithium-iron-phosphate (LFP) technology as the future for powering NEVs. This BYD-developed battery packs cells in a more efficient array to increase their energy density, enhancing their resistance to overheating. LPF is a cheaper alternative to lithium-nickel-manganese-cobalt (NMC) batteries, which have higher energy density and contain expensive metals and are more prone to overheating. “From today onwards, all pure NEVs under the BYD brand will adopt blade battery,” the company’s chairman Wang Chuanfu said in Chongqing where the blade battery is made.
SK Innovation agreed to pay LG Energy Solution, a wholly owned subsidiary of LG Chem Ltd, 2 trillion won ($1.8 billion) - 500 billion won each this year and next, and royalties for at least six years. The companies agreed to drop all litigation in the United States and South Korea and not to raise further lawsuits against each other for 10 years. “The two companies now can coexist in the global market and compete in good faith,” LG Energy Solution said in a statement. SK said it would invest actively both in South Korea and abroad now that uncertainties for its EV battery business in the United States have been cleared up.
Big batteries have emerged as the more effective provider of peaking services within the electricity market, beating out gas generators on cost and effectiveness, new analysis published by the Clean Energy Council has argued.
The battery-grade lithium hydroxide price in the domestic Chinese market continued to edge higher, with some key suppliers claiming to have sold out prompt cargoes and expecting further upturns in near future. Battery-grade lithium prices in the seaborne Asian market is firm on market upturns amid supply constraints. Europe, United States’ battery-grade lithium prices continue rally on tight global supply.
United Parcel Service has agreed to buy 10 electric vertical takeoff and landing aircraft from Vermont-based startup Beta Technologies to speed up deliveries in small markets, the U.S. package delivery company said on Wednesday. With a 250-mile range and cruising speed of up to 170 miles per hour, the aircraft’s 1,400-pound cargo capacity is suited to quickly transport time-sensitive deliveries that would otherwise fly on small fixed-wing aircraft, the company said.
Chile’s top lithium regulator is preparing to slash the red tape that investors have long said stymies output and new projects in the world’s No. 2 producer of the ultralight battery metal, the head of the watchdog told Reuters. Chile has lost ground in recent years to rival lithium producers, with no new projects coming online despite huge reserves of the electric vehicle battery metal and soaring global demand. Investors blame opaque rules governing the sector.
In an effort to stave off a repeat of 2020s summer blackouts, California is planning to install 1.7GW worth of new battery storage by August, according to new figures published this week by BloombergNEF, more capacity than China is expected to install. A recent report published by Bloomberg Green citing new BloombergNEF numbers revealed that the leading power analysts expect California to not only install 1.7GW worth of new battery storage in 2021, but another 1.4GW in 2022 followed by 1.2GW in 2023.
With Europe expected to lead the world in electric-car sales for a second straight year, an epic rush to build a battery-supply chain from scratch is playing out across the continent. Fueled by state support of at least 6.1 billion euros ($7.3 billion) and investment plans totaling 10 times that in just one year, the race is on for a regional champion to emerge. The contestants include startups Northvolt AB in Sweden, Britishvolt Ltd. and France’s Automotive Cells Co., and powerhouses Tesla Inc. and Volkswagen AG. BloombergNEF estimates the continent could see its share of global battery production rise to 31% by 2030 from just 7% last year.
Chinese nickel and stainless steel giant Tsingshan Holding Group said on Thursday it will invest 10.3 billion yuan ($1.57 billion) to build a lithium-ion battery plant in Guangdong province, which will be operated by the group’s battery unit. Tsingshan’s battery manufacturing unit REPT Energy Co aims to expand its annual production capacity for lithium batteries from 6 gigawatt currently to 200 gigawatt capacity by 2025 and the new plant in Foshan city will be part of that expansion, the group said.
BMW has signed a €285 million ($335m) contract to source lithium from US-based Livent. Livent will supply lithium directly to BMW’s battery cell manufacturers beginning in 2022. BMW already has a €540 million ($636m) lithium supply deal with China’s Ganfeng Lithium, which was signed in December 2019 for the supply of sustainable lithium hydroxide from Australian hard-rock deposits.
from the ASX...MoU with global materials company Saint Gobain. Alpha and Saint Gobain to work towards continued product evaluation and commercial supply agreements across the full range of Alpha’s high purity aluminium products. Includes provision for new product development and shared intellectual property. MoU contemplates future co-investment between Alpha and Saint Gobain.
HPA FIRST PROJECT RECEIVES QLD GOVERNMENT MCU APPROVAL
SUCCESSFUL SAPPHIRE GLASS PRODUCTION BY ALOX TECHNOLOGY
MEMORANDUM OF UNDERSTANDING WITH SAINT GOBAIN
CONTINUED ACCELERATION OF GLOBAL PRODUCT OUTREACH
EXPANDED PRODUCT DEVELOPMENT AND CONTINUOUS IMPROVEMENT
MoU with APL Engineered Materials, Inc. to market Alpha’s high purity aluminium products to specialty Japanese and Chinese markets.
MoU complements existing marketing activities and expands geographical reach.
Marketing will include a focus on Alpha’s 5N aluminium precursors and includes contemplated volumes of up to 6,000kg per month for each of Alpha’s high purity precursor products.
MoU to co-operate on a Renewable Energy Agreement (REA) for the HPA First Project.
REA to consider a range of potential renewable supply options.
Potential to supply 100% of the HPA First Project electricity demand backed by renewable energy.
A successful REA will further reduce the HPA First Project’s carbon footprint.
CleanCo is a Queensland Government owned low-emission energy generator and retailer.
AnteoTech signs participation agreement for the Future Battery Industries CRC Super Anode Project.
AnteoTech to be the sole supplier of silicon composite material to the Super Anode Project.
AnteoTech to retain all of its Intellectual Property (IP) rights and gain share in Project IP.
Initial assessment of AnteoX completed by Collaborator 8 confirms AnteoTech’s results of electrochemical performance enhancement.
Collaborator 8 and AnteoTech move into a new phase of collaboration focused on customer trials and supply agreement.
AnteoX assessment undertaken by Collaborators 5 and 6 reveals untapped potential of using AnteoX as a binder additive.
Increased focus on commercialisation of AnteoX combined with commonly available binder products.
2,000tpa lithium carbonate process plant development works progressing on schedule.
10% of scheduled total construction works completed to date.
First commercial production of battery quality Li2CO3 product targeted by mid-2022.
Highly experienced lithium industry executive, MrAlex Cheeseman appointed as Chief Executive Officer to guide the new Altura forward.
Appointment allows the next growth phase of Altura as a new team is assembled.
Director resignation of Mr Paul Mantell.
Appointment Mr John Lewis as Company Secretary.
New corporate address.
Successfully raised $30 million to fully fund Rincon Lithium Project through to 2,000tpa lithium carbonate production and cash-flow generation.
Rincon 2,000tpa plant development on schedule with construction works 10% complete and first Li2CO3 product targeted from mid-2022, with fully modular design for planned expansion to 10,000tpa operation.
20 tonne cargo of high-purity battery quality >99.5% lithium carbonate product from Argosy’s industrial scale pilot plant delivered to Korean customer.
JORC Exploration Target delineated for Rincon Lithium Project demonstrates potential to materially expand current JORC Indicated Resource estimate and increase Project mine life & future production capacity.
Long-term pumping data confirmed positive results exceeding previous PEA results – permeability may be >2.5 times higher with aquifer transmissivity at production bore PRP1 estimated to be 7,500m/day after 120 days of pumping.
10,000tpa Environmental Impact Assessment report submitted to Salta Province regulatory authority.
The Company has an exclusive and proprietary environmentally clean/green chemical process technology with very low energy and raw water requirements to produce battery quality lithium carbonate acceptable for high-spec international markets, and pursue a complementary lithium hydroxide production strategy.
Salta government providing strong support for full development of Rincon Lithium Project, with plans to develop a mining logistics node for mining and energy activities in the Puna region adjacent to Rincon.
Argosy accepted as a member of the European Raw Materials Alliance (ERMA)
Encouraging Phase 1 battery performance tests using HPA coated graphite. Breakthrough silicon alumina coating development. Pre-feasibility study of battery materials HPA coating plant in Germany. Termination of controlled placement agreement (Acuity Capital). Green bond offering process progressing well. Johor HPA plant site remains under care and maintenance.
Resource drilling at Roche Dure confirms further high-grade lithium and tin mineralisation directly beneath the historic pit floor.
All three holes were collared in fresh or slightly weathered pegmatite from the top of the hole.
Major intersections included:
Isolated zones of high grade +2% Li2O intersected in hole MO21DD001 in section 7100mN and again near surface on section 7300mN, including 28m @ 2.08% Li2O in hole MO20DD007.
With the completion of this pit floor drilling at Roche Dure, and the receipt of all outstanding assays, a new resource estimate is now underway to update the previous May 2019 Mineral Resources.
Signed two additional SC6 offtake agreements with separate major Chinese lithium converters – Shenzhen Chengxin Lithium Group Co., Ltd and Yibini Tianyi Lithium Industry Co., Ltd - taking binding commitments to more than 80% of the Manono Lithium and Tin Project’s annual SC6 production defined in the DFS.
Signed first tin offtake agreement with Kalon Resources, a 100% subsidiary of Noble Group Holdings Limited, for 600 metric tonnnes of tin concentrate per annum.
Continued to explore strategic offtake opportunities in both traditional and emerging lithium markets.
Actively engaged with various commercial banks, finance brokers, private equity investors and non-commercial lenders (Development Finance Instutions) to progress towards securing funding for the development of the Manono Lithium and Tin Project.
Drilling of the Roche Dure ‘wedge’ revealed high-grade lithium and tin mineralisation directly beneath the historic pit floor – with a new resource estimate now underway to update the previous May 2019 Mineral Resources.
Strong results received from hydrology holes drilled around the perimeter of the Stage 3 Life of Mine – confirming excellent prospects of extending the Roche Dure open pit into the neighbouring ‘Kyoni’pegmatite.
Front End Engineering Design (FEED) study awarded to Melbourne based engineering company, Mincore Pty Ltd.
Independent study showed Manono Lithium and Tin Project likely to have one of the lowest carbon footprints of any global hard rock lithium miner.
Metallurgical test worked confirmed Manono Primary Lithium Sulphate suitable for battery producton feedstock.
Placement successfully completed and very well supported by new and existing investors.
Funds shall be applied towards completing the Company’s Definitive Feasibility Study (“DFS”).
A full-scale project development plan for Madagascar shall be fast tracked during 2021.
Funding will also allow the Company to conclude extensive drilling and exploration programs at its Maniry and other high-grade sites in Madagascar.
Concentrate from Stage 2 Pilot program shall be provided to Urbix Resources and LuxCarbon for testing and advancement of further offtake arrangement discussions.
Allocation of funding to be used in advancing downstream processing development plans.
Following the Placement, the Company’s cash balance has increased to circa $7.4million.
Further refinement to the Stage 2 Pilot Plant design has continued over the past two weeks with very positive outcomes achieved.
Additional Testwork undertaken has focused on achieving even higher increases to concentrate grades with spectacular outcomes – results have demonstrated that over 31% of BEM’s product can be produced at an Fixed Carbon (“FC”) level above 96.5%.
Furthermore, test results achieved have indicated that the designed flowsheet can achieve an average FC level of 96.5% for all large and jumbo flake product testing, grades which are currently attracting significant price premiums in the graphite market.
These results further validate Maniry’s graphite product potential as highly attractive for downstream processing and feed for the rapidly expanding electric vehicle (“EV”) markets.
Further analysis of concentrate tests resulted in an average fixed carbon level of 96.77% for greater than 80% of the jumbo and large flake product tested - making this product some of the highest value graphite concentrate produced in the world.
Further testing will continue for remainder of April and May 2021 with a final report to be published thereafter.
The Large Scale Pilot test work commenced on Maniry mined material with significant work completed during and following the end of the quarter.
Mobilisation of technical personnel and planning continued for a drill program at the high grade Razafy NW area in Southern Madagascar, with drilling to commence in the short term.
Ongoing discussions continued with industry leading down-stream graphite producers, with the aim of finalising a development and production plan.
An airborne electromagnetic survey was completed for the Donnelly River Prospect; processing of data expected to be completed in mid-May.
Scoping level test work on Finniss Project spodumene mineral concentrate sample has produced battery grade lithium hydroxide monohydrate (LH).
Core’s LH satisfied all impurity specifications of the commonly referenced battery grade specification from Livent.
Conversion to battery grade LH used the conventional direct flowsheet.
Excellent extraction and recovery of lithium to LH crystallisation steps (>95%).
Core believes Finniss lithium concentrate quality suitable for the high-end Lithium Battery, Renewable Energy and EV industries.
Customer demand for Core’s high-quality concentrate and spodumene prices increasing rapidly – Core aiming to complete new offtake deals in due course.
Core on-track to update Finniss Lithium Concentrate DFS ahead of FID Q3 2021.
NT Government and Core co-funded geophysical survey has successfully defined lithium pegmatite distribution at Finniss.
Gravity geophysics is an effective exploration technique and potential game changer for targeting spodumene pegmatites at regional scale in the NT.
Newly identified 20km long “Grants Belt” of lithium rich pegmatites - that includes Grants, BP33, Carlton Lees and Booths - stretches south to include Core’s new acquisition at Leviathan and north to new Kings Table target area.
Detailed gravity is also prospective as a tool for direct targeting new lithium pegmatites.
Detailed follow-up gravity surveys to commence alongside 2021 drilling campaigns.
Core is finalising drill contracts and preparing for a massive 2021/22 exploration and resource drilling campaign expected to commence in May.
Core well-funded with new acquisition in place and drill rigs lined up to commence resource push.
Completed a strategic $40 million placement to global institutions;
Produced battery grade lithium hydroxide from Finniss concentrate;
Was awarded Major Project Status for Finniss by the Federal Government;
Was granted a Mineral Lease for the BP33 Deposit by the NT Government.
Commissioning activities progressing well at the Butcherbird Mine Site.
First ore has been successfully processed through the plant.
Production of in specification 30-35% Mn concentrate achieved early in commissioning programme.
Optimisation and ramp-up progressing on schedule.
Stage 1 offtake agreement finalised with OM Materials Pte Ltd (OMS), a wholly owned subsidiary of ASX listed OM Holdings Limited (ASX:OMH).
$35.5M placement with strong support from a leading Swiss ESG fund.
Proceeds of the offering will fully fund the expected capital outlay to expand production at the Butcherbird Project to over 1 million tpa of manganese concentrate.
The raising also underpins funding to accelerate work on completing the flowsheet and plant design to produce High Purity Battery Grade Manganese Sulphate (HPMSM) for New Energy Vehicles (NEV).
Commissioning activities progressing well at the Butcherbird Mine Site.
First ore has been successfully processed through the plant.
Production of in specification 30-35% Mn concentrate achieved early in commissioning programme.
Successful institutional placement to accelerate construction.
Australian Battery Anode Material Facility.
European Battery Anode Material Facility.
Battery recycling programs advanced with battery industry participants in Australia, Asia and Europe.
Epanko debt financing and development.
Corporate
Board strengthened with Mr Howard Rae appointed as Executive Director-Finance.
Completed submission for listing of EcoGraf shares on the OTC market in the United States of America.
Pioneer Dome Lithium Project: 32 high-priority and 16 medium priority lithium-caesium targets identified out of a total of 99 areas of interest. Work continuing to define drill-ready targets by June.
Placement to raise proceeds of $7.05million (before expenses);
EUR continues stakeholder consultation in respect to Pilbara tenement E47/4144 and areas of existing or intended infrastructure;
COVID-19 pandemic and government enforced rules related to international travel in particular, continues to impact operations and force EUR to observe closely any changes in government restrictions in Europe, Austria specifically and Australia;
Due to the Company’s strict COVID safe rules and other mitigation measures, no COVID-19 incidents or cases were reported by staff and contractors since March 2020. The Company has continued operations in Austria despite raising incident numbers in the general public, COVID-19 rules have been tightened during Q1/2021 within the European Union;
Tender process for the drill holes deeper than 300m was successful, despite numerous drilling contractors remain in lockdown, the Company mobilised the 1st drill rig and completed drilling of 3 holes at a total of ~900m;
2nd drill rig to be mobilised in Q2/2021 to fast-track the drilling program;
Dorfner/Anzaplan has been reengaged and commenced locked cycle tests, final report will be published once results are received and processed; and
GREENPEG (EU-funded) supported infield and underground work continues.
Updated DFS results in increase in NPV reflecting technical and commercial progress of FYI’s HPA Project development and positive value re-rating.
FYI’s innovative HPA process technology and process design validated through extensive testwork and pilot plant trials.
Updated DFS results in compelling project metrics demonstrated in revised NPV.
HPA product marketing research confirms strong HPA industry growth and pricing support.
Updated DFS released with outstanding results.
HPA project NPV8% increased to US$1.014b.
FYI progresses HPA MoU with Alcoa Australia.
FYI’s commences ESG certification.
Commenced process for quotation on the OTC market in US.
GEM Global takes initial strategic interest in FYI.
Alcoa and FYI joint pilot plant trial samples achieve average of 99.9986% Al2O3.
HMW’s lithium chloride (LiCl) concentrate increases significantly by 25% to 6% Li (32% LCE*)(from the original study value of 4.8% Li).
Galan’s high-grade result (6% Li) is directly comparable to SQM’s and Albemarle’s LiCl concentrate produced from the Atacama basin in Chile.
Furthermore, HMW’s LiCl concentrate level (12.9% Li20*) is equivalent to more than double the average concentrate grade of Australian lithium spodumene producers (6% Li20**).
Galan may then have the flexibility to place its lithium for downstream products anywhere in the world without the burden of high logistics costs, high CO2 footprint and/or waste management.
Evaluation of the commercial potential in the global market for its high-grade LiCl concentrate as feed for lithium battery products has commenced.
Test results showed very low level of contaminants, especially SO4, Ca and Mg.
Initial HMW brine evaporation pilot works forecast to commence in Q2 2021 (pending COVID-19 situation).
Data review enhances prospectivity at Greenbushes South Lithium Project.
Cash on hand at end of quarter was $14.9m.
Assessment of hydrogeological data from the drilling of two production wells leads to an increase in Resources & Reserves.
Revised Brine Resource of 6.2 million tonnes of lithium carbonate equivalent (“LCE”) a 27% increase from the prior estimate.
Revised Reserve estimate of 1.3 million tonnes of recoverable LCE, a 13% increase.
Higher grade brine recovered in both wells (average lithium concentration of 933 mg/L) compared to average resource of 754 mg/L.
Production drilling will continue to test the aquifer at depth and a further update to the Resource & Reserve is expected in Q3 2021.
Project Summary
Stage 1.
Expansion Stages 2 and 3.
Execution strategy.
PROJECT DEVELOPMENT – EARLY CONSTRUCTION
Sal de Vida, Argentina
PRODUCTION & OPERATIONS
Mt Cattlin, Australia
PROJECT DEVELOPMENT – ENGINEERING
James Bay, Canada
FINANCIAL & CORPORATE
Orocobre and Galaxy agree to a proposed A$4B merger of equals, establishing a new force in the global lithium sector.
Merger creates the 5th largest global lithium chemicals company with a diversified production base and exciting growth platform, with potential to unlock significant synergies and realise value to be shared by all shareholders.
Hazer Group (ASX: HZR) is pleased to announce that AP Ventures Fund II GP LLP has received approval from the Foreign Investment Review Board (FIRB) for their $4 million investment in Hazer Group previously announced to the ASX on 30 November 2020 and approved by Hazer shareholders on 12 January 2021. With completion of the transaction, the Board of Hazer Group is delighted to announce that Andrew Hinkly, Managing Partner of AP Ventures, has been invited to join the Board of Hazer Group.
IGO Limited (ASX: IGO) (“IGO” or “the Company”) is pleased to announce that it has entered into a binding agreement with Regis Resources Limited (ASX: RRL) (“Regis”) for the sale of IGO’s 30% interest in the Tropicana Gold Mine (“Tropicana”) for A$903M in cash consideration payable upon completion.
The divestment to Regis for cash maximises the value of Tropicana for IGO’s shareholders and allows IGO to concentrate on its strategic focus on commodities critical to enabling clean energy.
Group revenue and other income of A$186M and underlying EBITDA of A$93M with EBITDA margin strong at 50% for the Quarter and 52% year to date.
Cash flow from Operations of A$71M and underlying free cash flow of A$51M.
Nova underlying EBITDA of A$93M and underlying free cash flow of A$69M.
Lithium Transaction progressing as expected, with regulatory approvals and assessments well underway with completion on track for June 2021 quarter.
IGO admitted into the S&P/ASX 100 Index and S&P Sustainability Yearbook.
Infinity Lithium Corporation Limited (‘Infinity’, or ‘the Company’) advises that it has received notification from the Junta de Extremadura (the regional government of Extremdura) (‘Junta’) advising of the cancellation of Investigation Permit Valdeflorez (‘PIV’) research permit at the San José Lithium Project (‘San José’). The decision is unexpected and follows the resolution of the Junta granting the Investigation Permit Ampliacion Valdeflorez (‘PIAV’), as announced on 23 December 2020.
San José Lithium Project
Investigation Permit Valdeflorez Application ('PIV') research permit was cancelled on 6 April 2021.
Investigation Permit Ampliacion Valdeflorez (‘PIAV’) remains granted and in good standing with Infinity holding a 75% interest in the Joint Venture Tecnología Extremeña Del Lito S.L. (‘TEL’). The PIV and PIAV permits comprise the San Jose Lithium Project.
Test work continued to progress with our partners in Germany under phase one of the Project Agreement.
Battchain Consortium Submitted €1.2B Application for Virus Recovery Funds.
Corporate
A$15 million Placement completed.
Head of Corporate Development Appointed.
5th Ministerial Meeting of the European Battery Alliance prioritised sustainable local sourcing and processing of raw materials used in batteries – funds available through Coronavirus Recovery & resilience plans and the European Investment Bank.
Available cash as at 31 March 2021 of A$19.52 million.
A$80 million fully underwritten institutional placement completed with strong demand from new and existing institutional investors, including large US and European investment groups.
Proceeds provide funding to accelerate the development of Rhyolite Ridge Lithium-Boron Project in Nevada.
Battery grade lithium hydroxide successfully produced from Rhyolite Ridge pilot plant feedstock with resultant product specifications provided to potential offtake partners.
Discussions progressing well on offtake agreements for various lithium products with first lithium offtake announcement expected in June quarter.
Strategic partnering and funding discussions advancing with short-listed parties.
US Bureau of Land Management (BLM) expected to publish Notice of Intent (NOI) in near term, with public scoping to begin immediately afterward.
Engineering work progressed with US$114-122 million in major work packages under negotiation.
MOU signed with Caterpillar Inc. following completion of autonomous haul truck feasibility study.
Board strengthened with appointments of US-based Rose McKinney-James and Margaret R.Walker as Independent Non-Executive Directors.
ioneer anticipates being construction ready from an engineering and financing perspective in late 2021.
ioneer Ltd (ioneer or the Company) (ASX: INR), an emerging lithium-boron supplier, announces that it has commenced the formal process of evaluating a secondary listing of its shares on a major US stock exchange.
Combined Indicated and Inferred Mineral Resource Inventory of 1.43 Billion tonnes at 1,320ppm Li for total of 10.1 Million tonnes Lithium Carbonate Equivalent (LCE) at 1,000 ppm cut-off grade (COG).
At 10.1Mt LCE McDermitt is now the largest lithium deposit in the US by contained lithium in Mineral Resource.
The deposit remains open with an Exploration Target Range (ETR) between 1.3 to 2.3 Billion tonnes at 1,100 to 1,500 ppm Li.
Jindalee is well funded to advance the development of the McDermitt Project with additional drilling, mining and metallurgical studies planned.
Ausenco retained for São Miguel Paulista (“SMP”) Refinery Bankable Feasibility Study (“BFS”) with staged restart planned.
Metso Outotec engaged to support Ausenco and lead testwork and piloting to support engineering and equipment selection for the BFS.
Jervois awarded SMP refinery Restart Audit to Brazilian company Promon Engenharia; audit is progressing ono schedule.
SMP is expected to initially process feedstock similar to that processed during SMP’s previous 30+ years of operations.
Jervois expects to introduce material from Idaho Cobalt Operations (“ICO”) and other concentrates after installation of a Pressure Oxidative Autoclave (“POX”) circuit to leach sulphide concentrates in Stage 2.
Stage 1 of the BFS is expected to be completed in Q3 2021, with Stage 2 expected to be completed by end of 2021.
Jervois progressing discussions with third-party intermediate product suppliers for refinery restart to compliment ICO product.
Jervois remobilises RPM Global as Independent Engineer for ICO.
ICO initial production start continues to be expected in2H, 2022.
Jervois continues to target becoming a vertically integrated producer with a strategic focus on direct customer relationships of refined specialty nickel and cobalt products.
Appointed former Glencore Japan General Manager Hiroyuki Shinto as Jervois’ Japan Marketing Adviser.
Jervois ends March 2021 quarter with A$41.0 million cash.
Corporate – the funding position is strong (cash as of 31 March '21 of $13.3 million with no debt) and the share price traded at a 2-year high during the quarter, with strong trading volumes.
Recycling (Envirostream Australia Pty Ltd, 90% Company-owned):
Batteries (VSPC Ltd, 100% Company-owned):
Batteries (Soluna Australia Pty Ltd,50% Company-owned) – a distribution partnership with Legend Corporate Services Ltd ('Legend') has been secured and the supply of new, Clean Energy Council approved 10K Pack HV BESS subsequent to the end of the quarter.
Lithium chemicals – the Company’s patent application for its first-generation SiLeach® lithium extraction technology has been granted in the US and it is preparing to pilot-test its LieNA® spodumene conversion process at the ANSTO facilities in Sydney, New South Wales. Subsequent to the end of the quarter the Company entered into a commercialisation and licence agreement with Deutsche Rohstoff AG providing exclusive LieNA® licensing rights in Europe.
Raw materials
Excellent performance of Lake’s high purity 99.97% battery quality lithium carbonate in NMC-622 lithium-ion battery test cells conducted by Novonix.
Testing conducted using lithium carbonate produced from lithium chloride from Lilac Solutions’ pilot plant module using Lake’s Kachi brines. Similar results anticipated at full production scale.
Definitive Feasibility Study (DFS) progressing for Kachi Lithium Brine Project with Hatch as lead consultant, with completion anticipated in Q1 2022. An expansion case is being prepared separately.
Exploration continuing across Lake’s four lithium projects with testing of brines from Cauchari underway.
Lake secured global institutional support via A$20m placement, funding Company through to key investment decision for Kachi construction finance, anticipated mid 2022. Cash of A$24 million as at end March.
Strong financial results generated from a refreshed Pre-Feasibility Study for the Kachi Project, with US$1.6 billion NPV8 (post tax), 35% IRR and US$260 million annual EBITDA, using a flat forward lithium carbonate price of US$15,500/tonne.
Project finance advisors appointed to negotiate with Export Credit Agencies (ECA’s) to provide substantial debt finance for the Kachi Project.
Discussions advanced with potential offtakers and electric vehicle makers due to the consistent high quality of the Kachi lithium product, together with a low CO2 footprint and small environmental footprint.
Lithium prices increased ~100% in battery grade lithium carbonate price (China) during the March quarter. This provides opportunities for organic expansion to deliver battery materials into the growing demand for electric vehicles.
BJR is a leading Chinese manufacturer of lithium, caesium and rubidium salts, supplied to domestic and international customers.
Letter of Intent signed for Lepidico to supply BJR with lithium hydroxide, caesium sulphate and rubidium sulphate from the planned Phase 1 Project.
Further product evaluation will be undertaken in parallel with consideration of commercial terms for offtake.
Product offtake strategy progressing for chemical supply to both fine chemicals manufacturers and the electric vehicle supply chain.
Key commercial terms agreed with Lycopodium, a highly experienced global engineering and project delivery organisation, to complete the EPCM for the Phase 1 Integrated Project in Namibia and UAE.
Work planned to commence mid-May 2021, subject to finalisation of jurisdiction specific contracts.
$2.9 million secured through set-off of Collateral Shares under the existing Controlled Placement Agreement.
Project remains on track for commencement of mine and concentrator commissioning in late 2022, and chemical plant commissioning in the first half of 2023.
Bisley is a multinational marketer and distributor of quality industrial raw materials to the ANZ region, South East Asia, the Middle East, the U.S & Canada.
Bisley is established in global markets across Lepidico’s product suite including lithium chemicals, agricultural chemicals and construction chemicals.
Letter of Intent signed for Lepidico to supply Bisley with productsfrom the Phase 1 Project with an initial focus on lithium hydroxide, SOP and amorphous silica with specific market segments and geographies to be defined.
The Bisley lithium hydroxide market focus will be industrial applications for a volume up to 2,000 tpa. SOP and amorphous silica volumes are to be defined.
Bisley’s focus is to target long-term strategic growth markets and customers for Phase 1 products, minimise logistics costs and create synergies between the supplier and the customer.
Development
Key commercial terms agreed with Lycopodium, a highly experienced global engineering and project delivery organisation, to complete the EPCM for the Phase 1 Integrated Project plants in Namibia and UAE.
Development work for the Integrated Phase 1 Project is scheduled to start mid-May 2021, once jurisdiction specific EPCM contracts are finalised.
Environmental approval to construct the Abu Dhabi Chemical Plant granted, following approval of the requisite Preliminary Environmental Review; key commercial terms agreed for chemical plant land lease.
Chemical Plant Environmental & Social Impact Assessment completed in accordance with the Equator Principles and IFC Performance Standards.
Permits for mine and concentrator developments in Namibia in place.
Project remains on track for mining to start in the September 2022 quarter and chemical plant commissioning in the first half of 2023.
Three first order lepidolite bearing pegmatite targets generated from Karibib exploration programs, with drilling to start in May 2021.
Contained lithium in the Karibib Project Mineral Resources increased by 10% following completion of Mineral Resource estimates for lepidolite rich surface stockpiles and tailings.
Products & Marketing
Confidential discussions advancing well for supply of lithium hydroxide to consumers within the electric vehicle supply chain, as well as industrial users and chemical trading houses.
Letters of Intent signed with Bisley and BJR for Lepidico to supply lithium hydroxide and various by-products from the Phase 1 Project.
Confidential discussions progressing for long-term offtake of caesium-rubidium chemicals from the Phase 1 Project; significant supply constraints envisaged to emerge for these metals in 2021.
New proprietary process developed for production of high purity lithium carbonate from LOH-Max® raw lithium hydroxide via sequestration of upstream generated CO2.
Corporate and Finance
Well-funded to start EPCM early services with cash and equivalents as at 31 March 2021 of $4.4million (pro-forma following utilisation of Controlled Placement Agreement) and no debt.
Formal financing application submitted to U.S. International DFC, allowing confirmatory due diligence to start and an independent engineer to be selected.
Provisional patent application for the lithium carbonate recovery process filed.
Drilling program ahead of schedule with three exploration core holes (S-25, S-26 and S27) completed to the target depth of 400m and core hole #4 now passing 300m. Completion now expected by early May.
A total of 31 undisturbed core samples collected from core holes S-25 and S-26 have been sent to GeoSystems Labs in the US for drainable porosity and other hydraulic parameters.
56 brine samples collected and sent to Andes Analytical Assay Labs for chemical analysis. Positive preliminary sample analysis indicates average lithium concentrations above 1,000 ppm and positive lithium/calcium/magnesium ratio.
Activities for the DFS update with Worley commenced during the first week of April. Several opportunities for improvement have been detected.
Optimisation of the production process continues with GEA Messo in Germany. Final tests for the SX Removal plant and the Ion Exchange plant now finalized (Outotec and Eurodia respectively). Basic engineering already commenced by GEA for the re-sizing of the plant.
Maricunga exploration drilling program ahead of schedule with three out of five core holes (S-25, S-26 and S27) completed to the target depth of 400m. and core hole #4 now passing 300m. Completion of final hole #5 is now expected by mid-May.
A total of 31 undisturbed core samples collected from core holes S-25 and S-26 have been sent to GeoSystems Analysis laboratory in the US for drainable porosity and other hydraulic parameters.
56 brine samples collected and sent to Andes Analytical Assay Labs for chemical analysis. Positive preliminary sample analyses indicate expected average lithium concentrations are above 1,000 ppm mg/l and positive relationships of lithium to calcium and magnesium.
Correlation between drill holes for resource expansion confirms the existing geological model below 200m, as well as the existing hydrogeological model characteristics of the area, confirming favourable specific yield and permeability characteristics between 200 and 400m.
Activities for the DFS update with engineering consultants Worley commenced during the first week of April. Several opportunities for improvement have been detected.
Optimisation of the production process continues with GEA Messo in Germany. Final tests for the solvent extraction (SX) removal plant and the Ion Exchange plant now finalised (Outotec and Eurodia respectively). Basic engineering has already commenced by GEA for the re-sizing of the plant.
LPI recommenced exploration in Greenbushes, Western Australia at the beginning of 2021, completing initial laterite and soil sampling.
Mine planning and metallurgical test work programs have defined several key criteria with the potential to improve future operability and economic returns for the Kathleen Valley Lithium-Tantalum Project. These include:
Strong progress with the Definitive Feasibility Study (DFS), with mine planning and metallurgical test work defining several key criteria with the potential to deliver improved economic returns, including:
Mt Marion Lithium Project production of 108,696dmt was 16% lower than Q2 FY21 because of lower yielding ore being used in production, as part of the optimised long-term mine plan. Production was up 22% pcp. Shipments of spodumene concentrate were back in line with expectations and the mine remains on track to meet or exceed shipment guidance for FY21 of 450kt to 475kt.
Construction by Albemarle Corporation (NYSE: ALB)(Albemarle) of the 50ktpa Kemerton Lithium Hydroxide Plant continued,with a workforce of approximately 1,250 people on site. The project remains on track for completion in the second half of calendar year 2021.
iM3NY has received US$85 Million [A$110 Million] and is fully funded for Gigawatt scale production.
US$50 Million Senior Secured Term Loan received from energy focused Private Credit Fund, Riverstone Credit Partners LP.
Magnis invests over US$23.6 Million in equity and now has a direct and indirect interest in iM3NY of approximately 63%.
Funding will be used to fast-track production at gigawatt scale.
Magnis partner, Charge CCCV, LLC., to supply battery for US Government project.
Magnis completes oversubscribed A$34 million placement.
IM3NY acquires machinery from lithium-ion cell manufacturer.
Battery experts hired to lead production at NY battery plant.
New directors appointed to the Magnis Board.
Magnis undertakes various activities relating to advancing the Nachu project towards development.
Lithium-ion Battery (“LIB”) Recycling Project (via 50:50 JV Primobius GmbH, with SMS Group GmbH)
Lithium Refinery Project (“LR”) (co-funding evaluation on 50:50 basis with Manikaran Power Ltd)
Orocobre Limited (ASX: ORE, TSX: ORL) (”Orocobre" or ”the Company") advises that following a successful sales campaign and strong market demand for Olaroz lithium carbonate during the March 2021 quarter, sales were 3,032 tonnes at US$5,853/tonne FOB, with pricing up more than 50% on the December 2020 quarter. Lithium prices received by Olaroz are now up nearly 90% in the last six months.
Orocobre also advises that prices for the June 2021 quarter are expected to be approximately US$7,400/tonne FOB, subject to shipping schedules. This pricing will be the highest pricing received since June 2019 and is expected to result in H2 FY21 pricing being approximately 20% higher than prior guidance.
OLAROZ LITHIUM FACILITY (ORE 66.5%)
LITHIUM GROWTH PROJECTS
BORAX ARGENTNA
CORPORATE
Orocobre and Galaxy agree to a proposed A$4B merger of equals, establishing a new force in the global lithium sector.
Merger creates the 5th largest global lithium chemicals company with a diversified production base and exciting growth platform, with potential to unlock significant synergies and realise value to be shared by all shareholders.
Exploration Team and drill rig mobilised to the Reung Kiet Lithium Project
The first ever holes at the Bang I Tum Lithium Prospect drilled
The first ever holes at the Reung Kiet South Lithium Prospect drilled.
PRODUCTION AND SALES
Record production of 77,820 dry metric tonnes (dmt) of spodumene concentrate (December Quarter 2020: 63,712 dmt).
Annualised production capacity of approximately 330,000 tpa (dry) spodumene concentrate achieved across the months of February and March 2021.
Spodumene concentrate shipments of 71,229 dmt (December Quarter 2020: 70,609 dmt), with the final March shipment partially completed as a result of port delays beyond Pilbara Minerals’ control.
Tantalite concentrate sales totalled 47,831 lbs (December Quarter 2020: 18,541 lbs).
Site works commenced on Pilgangoora Stage 1 (Plant 1) improvement projects, to increase spodumene concentrate production up to ~380,000 tpa.
Trial ore parcel from mine pit at Plant 2 (previously the Altura Lithium Project) processed through Plant 1, achieving high recovery rates.
LITHIUM MARKET
Lithium chemicals pricing continued to significantly improve during the Quarter, which is now starting to be reflected in the price received for spodumene concentrate sales.
Strong spodumene concentrate demand, both from within existing customer group and from other market enquiries.
In late March 2021, a letter of credit was received ahead of an April 2021 spot sale of spodumene concentrate implying a headline price of US$655/dmt (SC6.0, CIF China basis), highlighting the recent strong upward trajectory in pricing.
CORPORATE
Acquisition of Altura Lithium Operations Pty Ltd (ALO) completed on 20 January 2021, finalising the acquisition of the Altura Lithium Project.
Offtake and Product Prepayment Agreement executed with Yibin Tianyi Lithium Industry Co Ltd, which included receipt of a US$15M prepayment during the Quarter to fund Plant 1 improvement projects.
Agreement executed with GLX Digital Limited for the launch of a new digital marketing and sales platform, providing flexibility to sell unallocated or available spodumene concentrate product in an open market.
Pilbara Minerals reinstated on the S&P/ASX 200 index effective from 22 March 2021, reflecting the strong increase in its market capitalisation over recent months.
Quarter-end cash balance of $112.1M, inclusive of $8.3M of irrevocable bank letters of credit for shipments completed in late March 2021.
Pilot Plant to produce high purity petalite via proven DMS technology, with first production expected in Q2 CY2021.
Finalised Staged Development Strategy with Stage 1 to be 1.2Mtpa and Stage 2 expansion to 2.4Mtpa to follow in due course.
Appointment of Lycopodium to complete Optimised Feasibility Study, with expected completion in Q3 CY2021.
As a response to increasing inbound enquiries from major anode manufacturers, Renascor Resources (ASX: RNU) (“Renascor”) has commenced work to investigate a substantial increase in Renascor’s Stage 1 production capacity beyond the currently planned 28,000tpa of Purified Spherical Graphite (“PSG”).
Renascor has also determined to bring forward feasibility work for the Stage 2 expansion of Renascor’s planned Battery Anode Material operation in South Australia.
With Renascor’s Siviour Graphite Deposit being the world’s second largest Proven Reserve of Graphite and the largest Graphite Reserve outside of Africa, Renascor will pursue an increase in production capacity (across both Stages 1 and 2) that leverages this asset and maximises value for shareholders.
Renascor continues to progress PSG product validation and offtake agreement terms with existing offtake MOU customers Minguang New Material, Zeto and Japanese group Hanwa, with a view to completing binding offtake agreements for its PSG production.
Renascor is concurrently progressing additional potential PSG offtake agreements and undertaking PSG validation with other anode and battery companies, with a view to securing additional offtake commitments that may allow for the expanded Stage 1 production capacity and further expansion of the project with additional Stage 2 PSG production capacity.
Renascor Resources (ASX:RNU) (“Renascor”) is investigating green financing options for the Siviour Battery Anode Material Project (the “Project”) in South Australia.
Projects with high standards of Environmental, Social and Governance (“ESG”) are experiencing increasingly high levels of interest from equity and debt capital markets, with a heightened awareness of global environmental issues driving the increased demand for green financing products.
The Siviour Project exhibits strong ESG credentialsthat have helped attract in principle financial support from Australia’s Clean Energy Finance Corporation (“CEFC”), an Australian Government backed clean energy technology financier.
Renascor plans to develop the world’s first integrated, in-country mine and Purified Spherical Graphite (“PSG”) operation outside of China. With executed offtake MOUs and increasing inbound offtake demand, Renascor plans for a substantial increase in PSG production capacity beyond the currently planned 28,000tpa.
Renascor is on track to produce a material critical to the electric vehicle supply chain, at a low cost, within a Tier 1 ESG jurisdiction, using an ESG friendly spherical purification process.
Renascor has engaged leading Nordic investment bank ABG Sundal Collier and financial advisers BurnVoir Corporate Finance to arrange financing solutions.
Firm commitments received to raise $15 million, led by institutional investors in Australia and overseas.
Renascor’s Siviour Battery Anode Material Project in South Australia is now fully funded up to the construction phase, targeted to commence in 2022.
Key work streams to be funded from the capital raise will include the completion of all technical, regulatory and marketing workstreams to reach a Final Investment Decision.
Renascor is on track to develop the world’s first integrated, in-country mine and Purified Spherical Graphite (“PSG”) operation outside of China as demand for PSG from lithium-ion battery anodes continues to grow strongly.
Renascor entered into non-binding Memoranda of Understanding (MOUs) to supply a total of up to 20,000tpa of Purified Spherical Graphite (PSG) from its 100%-owned Siviour Battery Anode Material Project (Siviour) in South Australia to leading Japanese-based global trading company, Hanwa Co., Ltd. (Hanwa),and Jiangxi Zhengtuo New Energy Technology Co. Ltd. (Zeto), a top ten anode producer globally.
As a response to PSG demand from Renascor’s existing offtake partners and increasing inbound enquiries from major anode manufacturers, Renascor commenced work to investigate a substantial increase to PSG production through an increaseto Siviour’sStage 1 PSG production capacity and a subsequent Stage 2 expansion.
Renascor achieved first stage product qualification of Siviour PSG with both Zeto and Minguang New Material, with the results enabling the two parties to progress engagement towards binding PSG offtake agreements.
Advanced mineral processing trials undertaken by leading independent battery mineral consultancy group Dorfner Anzaplan have confirmed the suitability of Renascor’s eco-friendly, hydrofluoric acid-free (HF-free) proprietary technology to purify graphite to battery grade, with results of up to 99.98% total carbon (TC) (versus anode industry standard of 99.95% TC).
Letter of in-principle support received from the Clean Energy Finance Corporation (CEFC), an Australian Government backed clean energy technology financier. The CEFC support adds to in-principle financing support received from Export Finance Australia (EFA), and Atradius, the respective export credit agencies of the Australian and Dutch Governments.
Renascor received confirmation from the South Australian Government Treasury that Siviour has been classified as a ‘New Mine’ for the purposes of State royalty calculations. The granting of New Mine status means that the Siviour will incur a reduced royalty rate of 2% of the net value of the minerals recovered from Siviour through 30 June 2026, representing a reduction from 3.5% over the initial years of production.
On 23 April 2021,Renascor announced a placement (Placement) to raise approximately $15 million (before costs) led by institutional investors in Australia and overseas. With the proceeds from the Placement, the SiviourProject is now fully funded up to the construction phase, targeted to commence in 2022.
Renascor’s cash position as of 31 March 2021 was approximately $4.1m. This does not include $15 million in proceeds (before costs) from the Placement, which are expected to be received in the current quarter.
27% increase in size of Sayona’s Tansim Lithium Project in Québec, Canada following acquisition of 75 additional claims, taking total project area to 20,256 ha of prospective lithium acreage.
In Western Australia, 3,900 line km airborne magnetic survey completed to advance gold drill targets at Deep Well and Mt Dove projects.
Increased exploration activity follows strong outlook for both lithium and gold, as Sayona invests in upgrading its Canadian lithium resource base and increasing the value of its West Australian gold and lithium projects.
1 for 6 renounceable rights issue closes oversubscribed, as shareholders back Sayona’s expansion strategy.
Gross proceeds (approximately A$21.9 million) to support key lithium projects in Québec, Canada, as EV revolution continues to advance in North America.
New shares under the offer expected to be issued and allotted on 27 April.
Strategic partnership announced with leading US lithium corporation, Piedmont Lithium Limited, to invest up to US$12 million (AUD$15.5m) in Sayona Mining, together with offtake agreement.
Battery researcher, Novonix Limited, to test Authier product’s potential for 99.97% purity lithium hydroxide battery.
Tansim Lithium Project in Québec further expanded, with new drilling program planned for both Tansim and flagship Authier Lithium Project.
In Western Australia, gold exploration advances with airborne magnetic survey completed at Deep Well and Mount Dove projects.
Oversubscribed A$20.4m fully underwritten renounceable rights issue to support expansion of Sayona’s Quebéc lithium projects, including bid for North American Lithium.
Natural graphite production at Balama recommenced ahead of schedule – 5kt produced and 2kt of prior sales shipped from product inventory in the quarter.
Completed transfer of quota for 5% Mozambique Government interest in Balama in accordance with the Mining Agreement.
Syrah advancing strongly to become avertically integrated producer of natural graphite Active Anode Material (“AAM”) to service ex-Asia markets.
Furnace installed and commissioned at Vidalia – further delivery of on-specification AAM to potential customers for qualification enabled from fully integrated commercial scale AAM facility at Vidalia.
Potential battery manufacturer and OEM customers engaged in qualification of AAM – Syrah receiving positive feedback on quality and performance.
Completed Front-End Engineering and Design and transitioned to initial Detailed Design for expansion to 10ktpa AAM production capacity at Vidalia.
Progressing evaluation of strategic and financial partnership options for Vidalia.
Strong demand growth for natural graphite end uses, with EV sales up 140% in Q12021 versus Q12020.
Share Purchase Plan closed significantly oversubscribed, raising A$18million.
Elected not to issue Series 2 Convertible Note4.
Strong quarter end cash balance of US$78 million.
COMMERCIAL AND PROJECT DEVELOPMENT
Construction of Talga's fully funded Swedish Electric Vehicle Anode (“EVA”) qualification plant commenced.
Vittangi Anode Project DFS timing updated and site investigations for mine, concentrator and refinery completed.
Permitting applications advance Vittangi project and preparations for 25,000 tonne trial mine commenced.
Preparations commenced for significant ~6,700m diamond drilling campaign and upgrade of JORC exploration targets.
Feasibility studies into UK Talnode®-C and Talnode®-Si anode production advance on schedule.
PRODUCT AND TECHNOLOGY DEVELOPMENT
Talcoat® reaches milestone in commercial sea trials.
Battery anode and graphene product range advances.
CORPORATE AND FINANCE
Oversubscribed Shareholder Purchase Plan raises A$30 million.
Sale of the Company’s Australian gold royalty entitlements completed.
Swedish iron projects to be divested.
Cash balance of A$58.4 million as at 31 March 2021.
Vulcan has designed, built, commissioned and is now operating its Pilot Plant to demonstrate Direct Lithium Extraction (DLE) from Upper Rhine Valley geothermal brine.
Vulcan is using live geothermal brine from existing wells in its piloting programme for DLE and brine chemistry testwork.
Vulcan is working with major suppliers, including DuPont, to test DLE products similar to those already used commercially in the lithium industry, on Upper Rhine Valley geothermal brine.
Planned spin-off and IPO of non-core, Scandinavian battery metals projects (non-lithium) into a new dedicated vehicle, named “Kuniko Limited”.
Enables Vulcan to be fully focused on development of its core Zero Carbon Lithium® combined renewable energy and lithium chemicals project in Germany.
Kuniko will be focused on the development of copper, nickel and cobalt projects in Scandinavia, with a strict mandate to maintain net zero carbon footprint throughout exploration, development and production.
Focus on areas with zero carbon, hydro-electric power, and of development of mineral processing flowsheets for production using zero fossil fuels.
Focus will be on Kuniko’s 262km2 Ni-Co-Cu license portfolio:
Vulcan shareholders to benefit from 1 for 4 priority offer to raise funds at 20c in Kuniko, in conjunction with a planned IPO, with priority rights to apply for additional shares above their entitlement. Vulcan to retain a circa 27% holding in Kuniko post-IPO given synergies in future sales and marketing of zero carbon battery metals and the focus of European markets and regulators on net zero carbon, ethical, reliable and sustainable battery metals sources of supply.
Proposed ASX Code: KNI
Post March 2021 Quarter to Date of Reporting
The Company designed, built, commissioned, and is now operating a DLE Pilot Plant to demonstrate lithium extraction from geothermal brine. The team is focused on demonstrating pre-treatment and DLE processes, as well as the durability of the process over hundreds of cycles, which will feed into its Definitive Feasibility Study (DFS).
Former senior EY Global Renewables Partner Josephine Bush joined the Vulcan Board as a Non-Executive Director.
Planned spin-off and IPO of non-core, Scandinavian battery metals projects into a new dedicated vehicle, named “Kuniko Limited”.
Binding agreement signed to acquire 100% of geothermal surface consultancy company Global Engineering and Consulting GmbH.
March 2021 Quarter
Zero Carbon Lithium™ Project’s Pre-Feasibility Study (PFS) demonstrated strong potential to develop a cutting edge, combined renewable energy and lithium hydroxide project, in the centre of Europe, with net zero carbon footprint.
Positive post-tax NPV of €2.25B (full project, no phasing); phased option shows €700m NPV in Phase 1 and €1.4B NPV in Phase 2. Maiden Probable Ore Reserve of 1.12 Mt LCE at 181 mg/l Li across Ortenau and Taro licenses2. Projected to be one of the lowest OPEX lithium producers globally.
Successful completion of $120m placement strongly supported by ESG-focused institutions, with Goldman Sachs and Canaccord Genuity acting as lead managers: strong cash position, fully funded to FID.
Vulcan will be collaborating with DuPont Water Solutions, a leader inwater filtration and purification, to test and scale up Direct Lithium Extraction (DLE) solutions.
Binding agreement signed to acquire 100% of geothermal sub-surface engineering company GeoThermal Engineering GmbH.
Binding agreement signed to acquire 100% of Global Geothermal Holding UG, Vulcan’s minority partner holding the granted Taro license in the Upper Rhine Valley.
Vulcan Team Appointments including Chief Operating Officer in Germany, Mr. Thorsten Weimann, Ms. Julia Poliscanova as special advisor to the board, Ms. Annie Liu and Dr. Heidi Grön as Non-Executive Directors.
Vulcan was admitted to the ASX All Ordinaries Index in March 2021.
from Twitter...Exclusive: The Energy Department has dropped its stretch goal for lithium-ion battery costs to $60/kWh, apparently influenced by Tesla and VW doing the same. A U.S. official says the move better approximates sticker price parity with gasoline. https://t.co/CY3yu140ww
— Steve LeVine (@stevelevine) April 27, 2021
Benchmark’s lithium ion battery megafactories # in the pipeline to 2030
— Simon Moores (@sdmoores) April 27, 2021
rises to 208
Well over 3.5TWh of capacity of which half is tier one. #EVfest will discuss this and a lot more... 34 days and counting
EV Fest | Benchmark Minerals https://t.co/mba3QFZOGe
Storage anyone? https://t.co/tgcHfIMXp1
— Lithium News (@batt_li) April 28, 2021
For all the talk of #cobalt free #batteries, 66% of all new #cathode capacity in construction today is targetting cobalt-containing chemistries. No 1 size fits all for passenger #EVs but to meet energy density, charging etc needs, NCM/NCA still pivotal: https://t.co/NVJfC2OtsQ pic.twitter.com/8bwNkbCAPk
— Andrew Miller (@amiller_bmi) April 23, 2021
-Confirms K-car segment EV coming in Japan in 2024.
— Colin Mckerracher (@colinmckerrache) April 23, 2021
-New dedicated EV platform coming around 2025.
-Aims for solid state batteries in models in second half of the 2020s
-New electric two-wheelers also coming
New insight piece from McKinsey on China battery pack chemistry reveals some interest insights. THREADhttps://t.co/hLax8NQBnL
— Jon Regnart (@JonRegnart) April 23, 2021
Australia has had an opportunity for the past few years to capitalise on this, but, despite the efforts of some, the opportunity appears to be going begging...#auspol #ausbiz @LiberalAus @walabor #ASX @dfat @CSIRO https://t.co/y0MiLpGGQU
— Lithium News (@batt_li) April 22, 2021
GEM, one of China's largest processors of end-of-life batteries reported they processed 10,000 tonnes (pack level) of EV batteries in 2020 and expect to do 30,000 tonnes in 2021. Our estimate is that 90% of that was reused in new products.
— Hans Eric Melin (@hanseric) April 22, 2021
. @Johnson_Matthey’s eLNO cathode materials plant in Finland, partnership with FMG & supply contracts of critical raw materials, form important steps towards building a European #cathode material ecosystem & making more sustainable #batteries within Europe.https://t.co/Gcjk0n75PW
— Roskill (@Roskill_Info) April 20, 2021
Lithium in Europe:
— Simon Moores (@sdmoores) April 21, 2021
AMG Lithium to build lithium hydroxide refinery at Chemie Park Bitterfeld-Wolfen, Germany.
20,000 tpa LiOH capacity operational by 2023... AMG quietly significant in lithium and also mine and process spodumene in Brazil today @benchmarkmin with more soon
This sort of approach from the Argentinian government is just fantastic for #lithium @GalanLithium $GLN@alferdez doing the right thing for his country and the future.https://t.co/hxikvo9UGc
— RJ (@RJinvestor) April 22, 2021
About 25 million electric two-wheelers (motorcycles, scooters and mopeds) were sold last year, that's about 35% of all sales in this segment. Way ahead of passenger vehicles where the EV share is closer to 5%.
— Colin Mckerracher (@colinmckerrache) April 20, 2021
SQM and Johnson Matthey sign a 8 years LiOH supply agreement.
— Daniel Jimenez Sch (@D_Jimenez_Sch) April 19, 2021
Race to secure Li feedstock has started.
Furthermore, recent supply consolidation (Orocobre + Galaxy, Pilbara+Altura), the options of low execution risk are fewer. pic.twitter.com/Vin5iS8jj1
SQM sign 7 yr lithium hydroxide deal with Johnson Matthey that “will power approximately 500,000 full electric vehicles” #EV
— Simon Moores (@sdmoores) April 19, 2021
This puts total deal size @ 22,000 tonnes of LiOH spread over 7 years starting this year, end 2028
Feeds JM’s new Finland eLNO & Poland cathode plants pic.twitter.com/3SmOihqMPG
Volvo Trucks is aiming for half its sales in Europe to be electric by the end of the decade as truckmakers increasingly move away from diesel towards battery power. The Swedish truckmaker, the world’s second-largest, which at present sells only a small number of battery-powered vehicles, on Tuesday announced three new heavy-duty electric trucks designed for intercity regional transport and urban construction. Production is due to start in the second half of next year. Volvo estimates that this will give it electric models for about 45 per cent of all goods currently transported in Europe, and what it claims is the broadest portfolio in the industry.
Yup, #EnergyStorage will be a $7.6 BILLION annual market in 2025. #Sustainability #RenewableEnergy #SolarEnergy pic.twitter.com/MdQIm57NZn
— LivioFilice (@LivioFilice) April 20, 2021
WOW. 1GW of battery storage in little old South Australia.
— Energy Today (@energy_today) April 20, 2021
"We estimate there is now over 1GW of battery projects proposed in South Australia with at least seven virtual power plants in operation,”https://t.co/GV91E2vYlE
Australian SC6 exports appear to be starting to increase. But looking closer it is actually Talison who has increased starting Dec 20 and Port Hedland (Pilbara + Altura) has slowed down in Jan and Feb. A sign that ALB and TQL will reclaim some of its lost share? pic.twitter.com/VqYhHtkbzl
— Daniel Jimenez Sch (@D_Jimenez_Sch) April 15, 2021
Lithium Prices and the lithium ion battery.
— Simon Moores (@sdmoores) April 16, 2021
We have just entered lithium’s third price surge in ~15 yrs
Each price surge has been because of new layers of lithium ion battery demand catching supply short.
A brief on each *surge* not a price *spike* (I’ll explain why later) pic.twitter.com/XTv7PrwOqd
Plug-in #electricvehicle sales in #China reportedly totalled over 484,000 units in Q1 2021, slightly lower than the record-breaking sales observed in Q4 2020, but nearly five times the sales in Q1 2020 and double the reported sales in Q1 2019. https://t.co/xKOdZdZf8k #EVs
— Roskill (@Roskill_Info) April 15, 2021
Cobalt news - #CATL to invest $137.5m in China Moly’s recently acquired Kisanfu resource in the DRC for 25% stake
— Caspar Rawles (@CDMRawles) April 11, 2021
Direct investment in #cobalt raw material from a tier 1 cell player
Highlights long term role of cobalt in the battery and ongoing supply concerns....
USA’s Biggest EV battery plants in 2021
— Simon Moores (@sdmoores) April 11, 2021
1. Tesla Gigafactory, Nevada
2. SK Innovation, Georgia
3. LG Chem, Michigan
4. Envision AESC, Tennessee
Three EV to battery hubs are emerging >>> https://t.co/HcWPZfcpYE
"Now you are seeing governments talking about batteries and lithium and other raw material components as important as oil. Batteries are at the top of the agenda for governments around the world." @sdmoores https://t.co/kwkNfElVrZ#auspol #ausbiz @LiberalAus @walabor
— Lithium News (@batt_li) April 10, 2021
It turns out foreign policy is also infrastructure. Or infrastructure is foreign policy. https://t.co/K4DmAqTYx5 via @bopinion pic.twitter.com/SeKQKcTX04
— Liam Denning (@liamdenning) April 9, 2021
Tesla ‘beer can’ battery to unlock $32,000 electric carshttps://t.co/Zx0dnDzam9
— Lithium News (@batt_li) April 9, 2021
A short animation to commemorate the 200th battery Megafactory in the @benchmarkmin Assessment.
— Caspar Rawles (@CDMRawles) April 6, 2021
It’s shows the number of plants tracked over time. Watch the rate of growth in China vs ROW.
Free to access story here: https://t.co/Hq8sw4WeeB pic.twitter.com/maGCJwjnv8
Norway car sales Mar 2021: BEVs cont. well above 50% market share and with Tesla model 3 on top again. PHEVs trending strongly upwards. #ElectricVehicles >80% @colinmckerrache #elbil https://t.co/DnlNHi8R7n pic.twitter.com/G3zgrh6kXd
— Eyvind Aven (@eyaven) April 6, 2021
The scale of the challenge facing the #lithium industry is only going to increase from here on. Q1 pressures are an early warning sign of what's to come if industry/investors don't step up expansion plans. Demo the @benchmarkmin Lithium Forecast for more: https://t.co/3pxwJ5TN2G pic.twitter.com/2U8UQgYjUP
— Andrew Miller (@amiller_bmi) April 6, 2021
UK #EV sales showing strong yoy growth despite total auto sales down for 2021. 13.8% EV penetration. Expect that to climb as the year progresses. Diesel and petrol continue to lose market share. #lithium pic.twitter.com/qCLL0UOoTz
— Rodney Hooper (@RodneyHooper13) April 6, 2021