Sweden is turning its gaze towards Peru and other South American countries for lithium tie-ups amid a global race to lock in supply of the "white gold" metal that is key for the batteries that power electric vehicles. A senior trade official from the Scandinavian nation told Reuters by phone that firms in Sweden - which is making a push in such batteries is home to global car brand Volvo - were looking for alliances with regional lithium and copper producers.
In March 2018, the Chilean government unveiled big news: Corporate investors, including South Korean electronics giant Samsung, would build three factories in Chile to produce battery parts for electric vehicles. Chile had lured the companies with an enticing offer. In exchange for helping the South American country, the world's No. 2 miner of lithium, jumpstart its own EV battery industry, the firms would get a guaranteed supply of the coveted metal at attractive prices for nearly three decades amid a global race to lock down supplies.
Lithium miner Galaxy Resources has reported a record quarter from its Mt Cattlin mine, in Western Australia, during the three months to June. The Mt Cattlin operation exceeded the production guidance of between 45 000 t and 50 000 t, producing 56 460 t of 6% lithium oxide during the quarter under review.
Czech utility CEZ will provide a two-million euro convertible loan to European Metals Holding (EMH), the companies said on Tuesday, giving CEZ a potential majority stake in the company developing a large lithium deposit in the country. The loan will mature on December 31, 2019 and carries a 7.5% interest rate. CEZ can convert the loan principal to shares at any time up to the maturity.
ASX-listed Lepidico has settled its plans to acquire TSXV-listed Desert Lion Energy, after shareholders in the Canadian company approved the share offer. Lepidico in May this year launched a takeover offer for Desert Lion, offering 5.4 of is own shares for every one Desert Lion share held to create a vertically integrated lithium development company, which will combine Lepidico’s proprietary lithium processing technologies with Desert Lion’s lepidolite mineral resource and exploration acreage in Namibia.
British mining company Cornish Lithium has turned to crowdfunding to raise £1-million for drilling at its lithium project in Cornwall, south-west England, further advancing its strategy of opening a domestic source of the strategic mineral. This is the first UK crowdfunding in the mining sector and comes at a time when many junior exploration companies globally are struggling to raise funds through traditional markets.
Cornish Lithium, a battery minerals firm set up by a former City analyst, on Friday became the first British miner to launch a crowd funding campaign as it seeks play a role in securing strategic mineral supplies. Britain's mining industry is regarded by many as a thing of the past but a handful of companies are trying to revive it, particularly for the extraction of battery minerals, after government backing for a greener economy and less polluting transport.
Aim-listed Katoro Gold will investigate the potential of lithium and rare earth element mineralisation that has been identified at its 75%-owned Haneti nickel project, in Tanzania. The company, which has focused on the exploration of nickel sulphides at the project, on Tuesday reported that its exploration team had identified several pegmatite outcrops within two abandoned artisanal pits at Haneti.
ASX-listed lithium miner Pilbara Minerals on Tuesday said that production and sales are expected to return to full capacity during the December quarter, based on the latest discussions with its customers. Pilbara last month told shareholders that production from the Pilgangoora project, in Western Australia, would be cut back during June and July, on the back of constrained sales during the June quarter.
The mineral resource estimate for the Kathleen Valley lithium/tantalum project, in Western Australia, has increased by 353%, on the back of new drilling results. ASX-listed Liontown Resources told shareholders on Tuesday that the Kathleen Valley measured, indicated and inferred resource was now estimated at 74.9-million tonnes, grading 1.3% lithium oxide and 140 parts per million of tantalum pentoxide, containing some 0.97-million tonnes of lithium oxide and 2.5-million tonnes of lithium carbonate equivalent.