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Gina Rinehart-backed lithium hopeful surges after demo batch

Bloomberg News | April 11, 2024

Australia-listed lithium developer Vulcan Energy Resources Ltd. has gained nearly 40% this week after announcing its first viable output using direct-extraction technology, an emerging technique for producing the battery material.


The firm’s demonstration plant in Landau, Germany, delivered a batch of lithium chloride in line with the quality it eventually plans to make commercially, Vulcan said in a statement on Thursday. The firm backed by Australia’s richest woman Gina Rinehart has agreements to supply European carmakers including Stellantis, Renault SA, and Volkswagen AG.

The firm’s shares jumped about 13% on Wednesday and closed 24% higher on Thursday.

Direct lithium extraction, or DLE, is seen as a promising production technique because it radically reduces the time needed to convert lithium brine into a form suitable for battery manufacturing. But it has faced widespread skepticism, and is still relatively untested at commercial scale.

“We see this as a major step forward for the company, a validation of Vulcan’s extensive work to date and of our view that DLE has a role to play in the lithium supply chain,” analysts from Cannacord Genuity Ltd. said in an emailed note.

Vulcan is planning to start market-ready production in 2026, executive chairman Francis Wedin said in an email interview. The company is still seeking to secure funding for that first phase, which will make 24,000 tons of lithium hydroxide annually — enough to supply batteries for half a million electric vehicles.

“Construction will take just over two years, and the clock starts ticking once financing is complete,” Wedin said. The company is in talks with potential strategic investors, including oil and gas and automotive companies, to buy equity, Vulcan said..

Vulcan said the demo production in Germany was the first lithium chloride sourced and produced within Europe. The project will use geothermal energy to power its plant, reducing carbon emissions, it said.

US moves closer to approving ioneer’s Nevada lithium mine

Reuters | April 12, 2024

The US Bureau of Land Management (BLM) moved a step closer on Friday to approving ioneer’s Rhyolite Ridge lithium mine in Nevada, a project that would be a key supplier of the electric vehicle battery metal to Ford Motor and others.


The proposed mine, roughly 225 miles (362 km) north of Las Vegas, contains one of North America’s largest sources of lithium, and could produce enough of the metal to power nearly 370,000 EVs each year.

The site is also home a rare flower found nowhere else on the planet, so some conservation groups oppose ioneer’s project, making it a lightning rod in the debate over whether biodiversity matters more than the fight against climate change.
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Surge Battery Metals to begin drilling at Nevada North lithium project next month

Staff Writer | April 4, 2024

Surge Battery Metals (TSXV: NILI) said on Thursday it has reached an agreement with the Salmon River Cattlemen’s Association (SRCA) to begin drilling on parcels of SRCA private ground, where Surge already holds 25% of the surface mineral rights comprising about 880 acres within the boundaries of its Nevada North lithium project (NNLP) in Nevada.


Surge reported in February an initial mineral resource estimate on NNLP, which it said had the highest-grade lithium clay resource in the US with 4.7 million tonnes of lithium carbonate equivalent (LCE) grading 2,839 parts per million (ppm) lithium at a 1,250 ppm cutoff. The company also calculated over 4 million tonnes of LCE grading 3,167 ppm lithium using a 2,000 ppm cutoff.

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There is significant expansion potential as this lithium resource only covers a portion of the known footprint of mineralization, Surge Battery Metals said.

This year, the company intends to drill four reverse circulation holes on the SRCA parcels to test extensions of high-grade lithium mineralization outlined in previous drilling to the north of the private parcel and high-grade soil geochemistry (>1,000 ppm Li).

It also plans to drill another four holes on claims it holds and on claims with its joint venture partner M3 Metals (TSXV: MT). The drill sites, it said, will be determined by ground conditions, avoidance of sensitive areas on the private parcels and permitting approval by the Bureau of Land Management.

Drilling is scheduled to start by the end of May 2024 and will test for lithium mineralization 1 km to the west and up to a 1.2 km to the south of the 2024 resource area. The drilling is designed to expand and better define the footprint of lithium clay mineralization at the NNLP prior to infill drilling in 2025.

“We are happy to have come to an agreement with the Salmon River Cattleman’s Association and look forward to actively working together as we advance the NNLP,” Surge Battery Metals CEO Greg Reimer said in Thursday’s release.

“Our 2024 program will be bold and will take big step outs to the west and south, growing the mineralization footprint as much as possible prior to our 2025 exploration program.”

Chile opens 26 lithium salt flats to private companies

Cecilia Jamasmie | March 27, 2024

Chile has revealed a long-awaited list of lithium-bearing salt flats that will be open to private investors with the goal of increasing local production of the battery metal by 70% in a decade, but as the mining minister told MINING.COM last year, it has reserved the Atacama and Maricunga salars for state majority control.


The announcement provides insight into President Gabriel Boric’s government strategy to implement a national lithium policy announced a year ago. The model calls for public-private alliances in future projects, with state firms controlling partnerships in the most promising areas, while private firms can take the majority stake in projects located in less strategic zones.

A tender process for 26 salt flats will be kicked off in April and it is expected to conclude in July, the government said. It noted it expects to see three or four new projects under development by 2026.

Atacama and Maricunga, the two salt flats deemed strategic and as such reserved to state-controlled partnerships, host a combined lithium potential of 10.8 million tonnes, corresponding to 64% of global reserves.

Nine other salt flats could contribute 3.3 million additional tonnes, according to expert José Cabello, head of consulting firm Mineralium.

Officials also announced the state will create a network of protected salt flats, which will not be touched as they are located in National Parks and other environmentally critical protected areas.

Juggling act

Chile is the world’s top copper producer and the second-largest producer of lithium after Australia. Both metals are considered vital commodities for the global transition from fossil fuels to renewable energies.

Only two companies currently extract lithium in the country – Chile’s SQM and US-based Albemarle – both in the Atacama salt flat.

The government is trying to juggle securing state control of the industry while attracting more private capital, protecting the environment and moving further down the value chain. Last year, it tasked state-owned copper producer Codelco to negotiate partnerships with each company.

Chilean salt flats


Some of the salt flats identified in northern Chile. Only Atacama and Maricunga have been subject to enough exploration to define lithium reserves. (Image courtesy of Jose Cabello | Andean Geology, 2022.)

The copper giant has already reached a preliminary agreement with SQM, which is set to last until 2060, but talks with Albemarle are ongoing. Earlier this month, Codelco also finalized the $254 million acquisition of Australia’s Lithium Power International, which handed the company the Maricunga lithium project, located in the namesake salt flat.

Global demand for lithium, according to the Chile’s own projections, will quadruple by 2030, reaching 1.8 million tonnes. Available supply by then is expected to sit at 1.5 million tonnes.

Lithium carbonate exports represented 5.3% of total Chilean shipments in 2023, down from 8.4% the previous year.

Rio Tinto to spend $350m on Argentine lithium plant

The move underscores the company's commitment to commencing production by the end of the year.

March 20, 2024

Global mining company Rio Tinto has earmarked $350m for its Rincon lithium project in Argentina, Reuters reported.

The move underscores the company’s commitment to commencing production by the end of the year.

This development comes after Rio Tinto CEO Jakob Stausholm recently visited the site, highlighting the strategic importance of the investment.

Stausholm was quoted by the news agency as saying: “The hard work of our Rincon team is laying the groundwork for our first lithium production by year’s end.”

In 2022, Rio Tinto acquired the Rincon project from Rincon Mining for $825m, and looks to establish a battery-grade lithium carbonate plant capable of producing 3,000 tonnes annually.

Rio Tinto is making a notable pivot by investing in lithium, a critical component for electric vehicle batteries, according to the news agency.

This decision contrasts with other major mining companies such as BHP, which have refrained from entering the lithium market.

Argentina is considered an important player in the “lithium triangle,” which also includes Chile and Bolivia.

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Le britannique Fujax veut s’approvisionner en lithium à la mine sud-africaine Blesberg jusqu’en 2026

Agence Ecofin 20 mars 2024

Des projets de lithium sont développés en Afrique depuis quelques années, mais le Zimbabwe reste le seul producteur du continent. Alors que le Ghana et le Mali s’activent pour lancer des mines dans les mois à venir, l’Afrique du Sud devrait les devancer avec le redémarrage de la mine Blesberg.

En Afrique du Sud, Marula Mining a annoncé le 19 mars un accord avec Fujax pour lui vendre la production de lithium de la mine Blesberg. Valable jusqu’au 31 décembre 2026, avec une possible prolongation jusqu’à fin 2029, l’accord de vente concerne un volume minimum de 50 000 tonnes de minerai et de concentré de spodumène titrant au moins 5,5 % de lithium.

« Je suis très heureux d’avoir signé cet accord d’achat à long terme avec la société britannique Fujax pour 100 % de notre production prévue de minerai et de concentré de spodumène provenant de notre mine de lithium et de tantale de Blesberg », a commenté Jason Brewer, PDG de Marula Mining.

Enregistrée au Royaume-Uni, Fujax est une multinationale active dans le négoce de métaux et de matières premières énergétiques. La compagnie britannique et Marula ont convenu d’un prix de vente fixé en fonction de l’indice de prix du concentré de spodumène sur la bourse des métaux de Shanghai (SMM), après déduction des frais de commission, de transport et d’échantillonnage.

Les premières expéditions devraient commencer en mai 2024 et se poursuivront sur une base mensuelle, jusqu’à expiration de l’accord. Notons que le début de l’exploitation du lithium de Blesberg permet à l’Afrique du Sud de rejoindre le Zimbabwe au rang des producteurs africains de lithium. D’autres pays devraient élargir ce cercle dans les années à venir, notamment le Mali avec les mines Goulamina et Bougouni dès 2024 et le Ghana avec Ewoyaa en 2025.

Marula Mining a soumis en janvier 2024 une demande de permis minier auprès du ministère sud-africain des Mines pour le redémarrage de la mine Blesberg, avec un plan d’exploitation sur 10 ans. Rappelons que Blesberg a livré du concentré de spodumène par le passé, ainsi que d’autres produits comme le tantale, et le feldspath.

After massive bust, global lithium market shows signs of life

Bloomberg News | March 12, 2024

After a spectacular bust, battery-metal lithium is showing tentative signs of life on speculation the retracement that convulsed the market last year has forced the conditions for a recovery.


The spot price of lithium carbonate in China – the key material used to power electric vehicles – has rebounded to the highest level since December following its 80%-plus collapse in 2023. On the Guangzhou Futures Exchange, meanwhile, the most-active contract has jumped by more than a fifth over the past month.
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Liontown Resources enters $363m debt facility for lithium project ramp-up

Reuters | March 12, 2024

Australia’s Liontown Resources said on Wednesday it has entered a A$550 million ($363.2 million) debt facility for the planned ramp-up and expansion of its flagship Kathleen Valley lithium project in Western Australia.


The debt facility would ensure that the project is funded through first production and ramp up to 3 million tonnes per annum (Mtpa) base case.

“The debt facility provides financial certainty and sufficient time for Liontown to complete the previously announced review of Kathleen Valley’s 4 Mtpa expansion,” the miner said.

The company said in January it was reviewing the project to lower near-term funding needs, which could include delaying its 4 Mtpa underground development, other mine plan adjustments, and further cost cuts.

($1 = 1.5142 Australian dollars)

Economy chief says Chile’s lithium products likely to get US subsidies

Bloomberg News | March 15, 2024

Chile is betting that components made with its lithium will qualify for subsidies under the US Inflation Reduction Act, potentially attracting a wave of fresh investment from companies seeking to tap into the country’s vast reserves of the battery metal.


Economy Minister Nicolas Grau, who expects talks with the Biden administration to conclude this year, said a positive decision would allow locally-manufactured lithium cathode to be built into electric vehicles that receive US subsidies.

“We’re very optimistic that it will happen,” Grau said in an interview from his office in downtown Santiago. “The way the law is framed creates the opportunity.”

As a major producer of key electric vehicle ingredients such as lithium and copper, Chile is at the forefront of the global transition to clean energy. President Gabriel Boric’s leftist administration introduced last year a national lithium policy that, while giving the state a bigger role in the sector, aims to open up new areas to mining as well as encourage more investments in plants to turn semi-processed metal into battery components.

If extended to value-added Chilean lithium, the subsidies will make it more attractive for US companies to invest in the country, said Grau, who holds a doctorate in economics from the University of Pennsylvania.

While raw materials like lithium produced in US trading allies clearly qualify for the subsidies, there is less clarity on value-added products such as cathode used in rechargeable batteries.

The US State Department did not immediately respond to a request for comment.

The Inflation Reduction Act is intended to encourage carmakers to produce more electric vehicles in North America and secure the key minerals from friendly nations with free-trade agreements, like Chile and Australia, while ensuring independence from economic rival China.

Tesla and LG

After visiting an Albemarle Corp. lithium processing facility during a trip to Chile this month, US Treasury Secretary Janet Yellen said the US is likely to increase its imports of the metal from the country.

Companies that have held meetings with the Chilean government on lithium in recent months include Tesla Inc., which started local operations this year, and LG Energy Solution Ltd.

In 2023, roughly 65% of Chile’s lithium exports went to China, while 25% went to South Korea, according to government statistics. Producers have been hit by a slump in prices last year, though Grau said analyst forecasts indicate the medium-term outlook remains bright.

The new US-Chile tax treaty, which is designed to prevent companies from being taxed twice on the same income, will facilitate investment between both nations, Grau said.

Lithium permit freeze limited to new projects, Argentina province says

Bloomberg News | March 15, 2024

The Argentine province of Catamarca said a court ruling to halt the awarding of lithium permits only affects new projects, leaving companies such as Arcadium Lithium Plc and Posco Holdings Inc. free to continue producing the metal and developing existing projects.


The ruling, which comes amid community concerns over mining’s impact on waterways, requires the Catamarca government to abstain from handing out new licenses as it prepares a report into the industry’s environmental impact, a provincial official said. The province’s first step will be to deliver to the court existing environmental reports that have already been approved.

The court’s decision, which follows a suit filed by an Indigenous group, covers the Los Patos River-Salar del Hombre Muerto area, home to some of country’s biggest lithium deposits. While four projects awaiting licenses will be affected by the permitting freeze, existing operations and projects already under development can continue as normal, the official said.

Still, the case underscores heightened environmental and social scrutiny on an extraction method that involves pumping up huge volumes of lithium-laced brine from South American salt flats, with much of the water lost in an evaporation process. The industry’s ability to prove its green credentials is crucial as demand for the battery metal accelerates in the shift toward electric vehicles.

Arcadium, formed from the merger of Livent Corp. and Allkem Ltd., declined to comment as it prepares a statement on the court ruling.

Arizona Lithium partners NTEC for Big Sandy lithium project
NTEC will be tasked with management of permitting requirements, environmental assessments and exploration drilling.

March 11, 2024

Arizona Lithium has signed a binding mining services agreement with Navajo Transitional Energy (NTEC) for development and production at the Big Sandy Lithium Project in Arizona.

The collaboration leverages NTEC’s extensive mining and energy project experience.

The company will be tasked with management of permitting requirements, environmental assessments, exploration drilling, mine design and development, through to the launch of mining operations.

NTEC, owned by the Navajo Nation, has a notable presence in the mining sector, with operations in the Navajo Mine and involvement in the Four Corners Power Plant.

The company’s expertise spans various states including Montana and Wyoming, and it is committed to fostering the development of the Navajo Nation’s resources.

Additionally, as part of the latest agreement, NTEC CEO Vern Lund, with more than 25 years in the mining industry, will become a member of the Arizona Lithium board.

Lund’s expertise encompasses operational management, business development and new project development, and promises to be a valuable asset to the Big Sandy Lithium Project.

In December 2022, Arizona Lithium announced the inception of this collaboration through a Strategic Alliance Term Sheet with NTEC.

The recent mining services agreement solidifies the terms initially set forth.

Arizona Lithium managing director Paul Lloyd said: “We are very pleased to have signed a Mining Services Agreement with NTEC, which formalises the terms initially agreed to under the Strategic Alliance Term Sheet announced in December 2022.

“NTEC is the ideal operating partner for Big Sandy and will take over the operational development of Big Sandy, being responsible for managing the permitting requirements, exploration drilling, mine design, environmental assessments and development through to commencement of mining operations for the project.

“Big Sandy represents a substantial development opportunity holding 320,800 tonnes of LCE, with only 4% of the project drilling, providing significant exploration upside once permitted.”

A very shallow, flat lying mineralised sedimentary lithium resource, Big Sandy Project has 32.5 million tonnes (mt) indicated and inferred JORC resource, grading 1,850 parts per million lithium for 320,800t Li2CO3 (lithium carbonate), as estimated after a 2019 drill programme.

North America’s largest lithium mine is full steam ahead – it just got a $2.26B loan

Michelle Lewis Mar 14 2024

Great news for EVs: Lithium Nevada got the green light for a $2.26 billion loan from the US Department of Energy to finance a lithium carbonate processing plant.


Once the Thacker Pass mine and processing plant in Humboldt County are online, they will become North America’s largest source of lithium for EV batteries.

The Thacker Pass processing plant will produce around 40,000 tonnes of lithium carbonate annually for the use of EV lithium-ion batteries. That’s enough for up to 800,000 EVs. The project’s goal is to eventually produce 80,000 metric tons per year.

Construction at the Thacker Pass mine site started in March 2023 after Lithium Nevada won a court case against ranchers, conservationists, and Indigenous communities. Once the loan closes, a three-year-long construction process will start.

If finalized, the loan will be offered through the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program.

The massive project is expected to create around 1,800 jobs during construction and 360 jobs in operations.

General Motors is expected to be a long-term primary lithium carbonate buyer for the project. The automaker invested $650 million in Thacker Pass in 2023, making it the largest shareholder in Lithium Nevada’s parent company, Lithium Americas.

The DOE’s Loan Programs Office says in its Thacker Pass loan announcement that “developing this project will strengthen domestic battery supply chains and reduce reliance on unreliable foreign sources.”

The mine and processing plant are expected to be fully online in 2028.

En Bosnie, du lithium, du magnésium et quelques doutes

AFP•14/03/2024

Un gisement qui tombe à pic, la promesse de milliers d'emplois, et une mine à ciel ouvert : autour de Lopare, en Bosnie, le sol est riche de magnésium et de lithium, matières premières critiques en Europe. Mais leur extraction inquiète.

Le sol argileux de cette région vallonnée du nord-est du pays, un des plus pauvres d'Europe, a été exploré ces dernières années par la société suisse Arcore AG, qui souhaite approvisionner le gourmand marché européen.

On y trouve "des quantités exceptionnellement intéressantes [de matières premières] pour la chaîne d'approvisionnement de l'Union européenne", plaide auprès de l'AFP le directeur la filiale d'Arcore en Bosnie, Vladimir Rudic.

Les réserves du gisement sont estimées à 1,5 million de tonnes d'équivalent de carbonate de lithium, 94 millions de tonnes de sulfate de magnésium et 17 millions de tonnes de bore, utilisé notamment dans la fabrication d'éoliennes.

La découverte de ces matières premières, indispensables à l'industrie européenne et à la transition énergétique, ravit les industries mais divise l'opinion et les partis politiques: "une chance pour le développement" du pays pour les uns, un risque pour l'environnement pour les autres.

"La mine de Lopare devrait lancer la production début 2027, commencer à tourner à plein régime entre 2030 ou 2032", et produire à ce moment 10.000 tonnes de carbonate de lithium par an, explique M. Rudic. De quoi fabriquer entre 150.000 et 200.000 batteries pour les voitures électriques, selon des experts.

Si le gisement est à "faible teneur" en lithium, son extraction reste intéressante, explique M. Rudic. Et la présence importante de magnésium et de bore garantit une "stabilité" dans la durée à la future mine.

- "Chance de développement" -
Arcore, qui entend demander une concession d'exploitation pour une période de 50 ans, table sur ses recettes annuelles d'un milliard d'euros et la création d'environ 1.000 emplois directs, et plus de 3.000 indirects.

Avec à l'horizon l'interdiction de la vente de véhicules thermiques dans l'UE à partir de 2035, l'Europe a un besoin vital de réduire sa dépendance à la Chine pour le lithium.

Quant au magnésium, l'UE dépend de la Chine pour 97% de ses besoins.

Milorad Dodik, président de la Republika Srpska, l'entité serbe de Bosnie dont Lopare fait partie, s'est dit favorable à l'exploitation, "une chance de développement qu'il ne faut pas rater". Tout en assurant qu'il ne s'agissait pas d'un permis de polluer.

L'exploration du gisement ces dernières années n'a pas soulevé beaucoup d'opposition. La levée de boucliers a eu lieu après l'annonce à l'automne du plan d'ouverture d'une mine à ciel ouvert à proximité de la ville. Le conseil municipal a voté en décembre une motion contre le projet.

Le maire de Lopare, Rado Savic, en est certain: "plus de 90% des habitants sont contre l'exploitation", affirme-t-il. "Les gens ont peur de fuites de matières toxiques (...) Nous sommes clairs: nous ne souhaitons pas une telle mine ici".

L'édile redoute une "détérioration encore pire de la démographie" de sa localité, où il ne reste plus que 8.500 habitants, contre 15.000 enregistrés au recensement de 2013.

- Tôt ou tard la pollution" -
Plusieurs ONG écologistes s'alarment du possible impact sur l'environnement, et une pétition contre l'ouverture de la mine, signée par 3.700 personnes, a été remise fin février au parlement de la Republika Srpska.

"Partout dans le monde où il a y a ce genre de mines il y a aussi, tôt ou tard, la pollution des eaux souterraines et de l'air", dit Snezana Jagodic Vujic, présidente de l'association "Eko Put", en évoquant les "grandes quantités" d'eau et de réactifs nécessaires à l'extraction du lithium.

Vladimir Rudic accuse les opposants de "semer la panique". "Les conditions d'exploitation seront absolument contrôlées" et le traitement du minerai se fera "dans les cycles industriels fermés", assure-t-il.

Une étude d'impact sur l'environnement doit être réalisée après l'obtention éventuelle de concession d'exploitation, et suivie d'un débat avec la population.

Pour les habitants croisés à Lopare, la question est déjà réglée.

La ville sera "recouverte d'une énorme couche de poussière, sans parler de l'impact sur les eaux souterraines", prévoit Jovan Jovic, un pharmacien au chômage.

Quant à Milivoje Tesic, vétéran de 63 ans, il ira "défendre physiquement (sa) terre et (son) calme".

"Si nous devenons le Koweït, alors OK. Mais montrez-moi un exemple où un investisseur étranger est entré dans un pays et y a fait un progrès."

LithiumBank Reports >3,000 mg/L Lithium and >98% Recovery from Direct Lithium Extraction Test Work

November 22, 2023·

LithiumBank Resources Corp. is pleased to announce results from bench-scale G2L Greenview Resources Inc. ("G2L") - Direct Lithium Extraction (DLE) test work on brine from its Boardwalk Lithium Brine Project. The Boardwalk Project is located in west-central Alberta, Canada, and situated on 100% owned crown mineral rights.
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Argentina Lithium targets first resource by September

MINING.COM and Argentina Lithium | March 7, 2024


A drill platform at the Rincon West project. Credit: Martin Diaz Russo.

Argentina Lithium & Energy (TSX-V: LIT; US-OTC: LILIF), backed by Chrysler automaker Stellantis, says it’s drilling the Rincon West lithium brine project, located beside a Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) venture, for an initial resource estimate in September.

Stellantis, which also owns Fiat and Peugeot, has invested $90 million (paid in Argentine pesos, valued at approximately $45 million after conversion) for a 19.9% stake in Argentina Lithium & Energy. The manufacturer is keen for the 15,000 tonnes per year in lithium carbonate offtake to supply its battery plants planned across the Americas.

Representative of recent results at Rincon West, drill hole RW-DDH-010 tested a 295.5-metre interval ranging from 245 to 366 mg per litre lithium. Eleven holes were drilled last year and four more holes are planned to extend over the nearby salt flat at the project.

“Drilling is confirming our initial hypothesis, that the concentrated lithium brines tested by our neighbour in the central salar also extend to our west-side properties. Future drilling will test whether the same is true for our northern and eastern blocks on the same basin,” Miles Rideout, vice-president of exploration, said by phone from Mendoza, 1,000 km west of Buenos Aires. “The project’s first resource, due this year, should prepare us for a prefeasibility study in 2025.”

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Rincon West is located about 3,760 metres above sea level in the arid Alto Plano region of Salta Province, Argentina, bordering Chile
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