Albemarle warns lithium sales sliding amidst weak EV market

Albemarle, the world's largest producer of lithium for electric vehicle batteries, warned on Wednesday that its third quarter sales and profit will dip as automakers produce fewer EVs due to the coronavirus pandemic. The warning came after the company posted a 45% drop in second-quarter profit due in part to low prices for the white metal caused by global oversupply. Lithium producers boosted output last year in anticipation of a demand rush from EV manufacturers going into 2020, but the coronavirus pandemic upended those plans and dented global automobile sales, effectively pausing the EV revolution.

NT gov backs Finniss project

The Northern Territory government, through its Local Jobs Fund (LJF) has offered to invest A$5-million into ASX-listed Core Lithium’s Finniss project, in the form of a low-cost business investment concessional loan. Core has received a non-binding indicative term sheet for the concessional finance facility, following an assessment process by the LJF investment committee.

NT govt backs Finniss project

The Northern Territory government, through its Local Jobs Fund (LJF) has offered to invest A$5-million into ASX-listed Core Lithium’s Finniss project, in the form of a low-cost business investment concessional loan. Core has received a non-binding indicative term sheet for the concessional finance facility, following an assessment process by the LJF investment committee.

Neometals signs up for European JV

ASX-listed Neometals has struck a joint venture (JV) deal with mechanical engineering firm SMS group GmbH to commercialise the company’s lithium battery recycling process. The JV, dubbed Primobius GmbH, will use the Noemetals recycling technology to recover lithium, nickel, cobalt and other materials from spent and scrap electric vehicle and consumer electronics.

Chilean regulators scrap lithium miner SQM’s environmental plan

Chilean regulators have rejected lithium producer SQM's $25-million environmental compliance plan for the Atacama salt flat, requesting the miner to start again from scratch, a filing showed. Chile's Environmental Superintendent (SMA) approved SQM's compliance plan early in 2019 after a multi-year investigation found the miner had overdrawn lithium-rich brine from the salt flat.

Rio’s lithium plans firming up

Diversified giant Rio Tinto has approved a $200-million investment to fund feasibility work at the Jandar lithium/borate project, in Serbia. The miner said this week that the feasibility work would include the completion of detailed engineering designs, as well as permitting and land acquisition by the end of 2021, in line with the initial project schedule.

Rio Tinto’s Serbia lithium plans firming up

Diversified giant Rio Tinto has approved a $200-million investment to fund feasibility work at the Jadar lithium/borate project, in Serbia. The miner said this week that the feasibility work would include the completion of detailed engineering designs, as well as permitting and land acquisition by the end of 2021, in line with the initial project schedule. “Rio’s lithium project pipeline is an important part of our vision to pursue opportunities which are part of the transition to a low-carbon future. We look forward to working closely with the government of Serbia over the next eighteen months as we develop and validate our understanding of the project to the point when we can seek a final investment decision by the board of Rio Tinto,” said energy and minerals CEO Bold Baatar.

Rio Tinto’s Serbia lithium plans firming up

Diversified giant Rio Tinto has approved a $200-million investment to fund feasibility work at the Jadar lithium/borate project, in Serbia. The miner said this week that the feasibility work would include the completion of detailed engineering designs, as well as permitting and land acquisition by the end of 2021, in line with the initial project schedule. “Rio’s lithium project pipeline is an important part of our vision to pursue opportunities which are part of the transition to a low-carbon future. We look forward to working closely with the government of Serbia over the next eighteen months as we develop and validate our understanding of the project to the point when we can seek a final investment decision by the board of Rio Tinto,” said energy and minerals CEO Bold Baatar.

EIT InnoEnergy to assist EMH in securing funding for Cinovec lithium project

Lithium and tin miner European Metals Holdings' (EMH's) wholly-owned subsidiary Geomet has entered into a value-added services (VAS) agreement with KIC InnoEnergy (EIT InnoEnergy) for the miner’s Cinovec lithium project in the Czech Republic. The project, which is a joint venture (JV) between EMH and power distribution company CEZ, has been recently funded to the amount of about €29-million, taking the project through to a construction decision.