
March 27, 2022
Ardiden Limited (ASX: ADV) (“Ardiden” or “the Company”) advises that Green Technology Metals Limited (ASX: GT1) has exercised its right to acquire a further 29% interest in the Lithium Joint Venture (“JV”) for the Seymour Lake, Root Lake and Wisa Lake assets in northwest Ontario, Canada.
Highlights:
- Green Technology Metals (ASX: GT1) exercises right to acquire a further 29% interest in Lithium JV
- $3.5M worth of GT1 shares issued to Ardiden as consideration, now holding ~$11.7M (or 6.47%) of GT1
- JV interest now 80% GT1 and 20% Ardiden, with Ardiden free carried to the earlier of completion of a positive Bankable Feasibility Study or Decision to Mine
- Ardiden focused on systematic gold exploration at its district scale Pickle Lake Gold Project in the wellendowed Uchi Geological Subprovince of north-west Ontario, Canada, where drilling is underway.
As outlined in the original agreement1 , in exchange for the additional 29% JV interest, GT1 has now issued 4,049,520 fully paid ordinary shares (“Shares”) to Ardiden valued at $3.5M based on the 5-day VWAP of GT1 shares up to and including 25 March 2022.
This payment will take the Lithium Joint Venture interests to 80% GT1 and 20% ADV, with Ardiden’s 20% interest continuing to be free carried by GT1 to the earlier of completion of a positive Bankable Feasibility Study or a GT1 Decision to Mine. In addition, under the JV, each party retains off-take / marketing rights in the same percentage as their respective JV interest.
The option, which was exercised early by GT1, results in Ardiden now owning 13,049,520 fully paid ordinary shares in GT1 or 6.47% of the shares on issue. The Shares have a market value of ~$11.7M (or ~$0.004 per Ardiden share) as at close of business on 25 March 2022. The Shares are subject to escrow until 10 November 2023.
The direct 20% JV interest and ~13m shares in GT1 provides strong continued exposure to the exploration and development of the JV projects and industry dynamics, while allowing Ardiden to focus solely on the systematic gold exploration at its District Scale Pickle Lake Gold Project in the well-endowed Uchi Geological Sub province of north-west Ontario, Canada, where drilling commenced in January 2022.
This information is authorised for ASX release by the Board of Directors.
For further information: Investors:
Rob Longley
MD & CEO
Tel: +61 8 6184 5938
info@ardiden.com.au
Tara Robson
Company Secretary
Tel +61 8 6184 5938
info@ardiden.com.au
This article includes content from Green Technology Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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The Conversation (0)
15 January
GTI Energy
Investor Insight
GTI Energy presents an intriguing opportunity for investors seeking exposure to the uranium sector, given its focus on ISR projects in the US aligning well with macro trends in the nuclear energy industry and geopolitical shifts favouring domestic uranium production.
Overview
GTI Energy (ASX:GTR,OTCQB:GTRIF) is an Australia-based uranium exploration and development company focused on uranium projects in Wyoming, USA, that are amenable for in-situ recovery (ISR). In uranium mining, ISR is the lowest cost and least environmentally damaging form of uranium recovery, especially when an alkaline leach and ion exchange processes are utilised.
The company's flagship Lo Herma project in the Powder River Basin is a sandstone-hosted roll front uranium deposit, which contains a recently updated mineral resource of 8.57 million pounds (Mlbs) of U3O8 at average grade of 630 parts per million (JORC code compliant) with a substantial additional exploration target in the range 6 to 11 Mlbs. GTI also holds projects in the Great Divide Basin (inferred resources of 1.66 Mlbs) and Green Mountain areas of Wyoming, as well as earlier-stage conventional uranium/vanadium assets in Utah. To date, GTI has delineated total combined uranium resources of 10.32 Mlbs (indicated and inferred) and substantial combined exploration targets in the range 12 to 20 Mlbs across its Wyoming projects.
Wyoming’s ISR uranium processing assets and GTI project locations
GTI is positioning itself to take advantage of the worsening uranium supply deficit and rapidly growing demand for uranium, particularly from the United States. The US is currently the world's largest consumer of uranium but currently imports more than 95 percent of its supply. The company's strategy centres on developing low-cost ISR uranium projects in Wyoming, a historically significant uranium producing region with existing infrastructure and a supportive regulatory environment.
The uranium market is experiencing a serious supply deficit and a simultaneous significant demand resurgence driven by several factors:
- Supply constraints due to years of underinvestment in new uranium projects and an overreliance on foreign nuclear fuel supply, particularly from Russia & Kazakhstan.
- Rapidly growing global demand for electricity and clean energy with increasing recognition of nuclear power's role in achieving climate goals.
- Geopolitical tensions leading to an east/west bifurcated uranium market leading to a need for secure domestic uranium supplies, particularly in the US which has banned Russian nuclear fuel imports.
- Technological advancements and significant policy support for nuclear power plant re-starts, gigawatt scale new builds and next-generation nuclear reactors including SMR’s.
In the United States specifically, there is strong bipartisan support for revitalizing the domestic uranium industry. Recent initiatives include the creation of a strategic uranium reserve, US$6 billion in grants for existing nuclear plants, and tax credits for new nuclear facilities under the Inflation Reduction Act. The Department of Energy has also advocated for tripling US nuclear capacity to 300 gigawatts by 2050, which would significantly increase uranium demand. Support for nuclear energy is now underpinned by COP28/29 DOE pledges, demand from data centre companies and 14 of the world’s largest banks.
In the longer term, GTI recognizes the potential benefits of consolidation within the fragmented US uranium sector. The company remains open to strategic partnerships, joint ventures, or even merger and acquisition opportunities that could create a more substantial production base. Such moves could potentially accelerate GTI's path to production, create operational synergies, or provide access to additional high-quality assets, enhancing the company's overall value proposition to investors.
Company Highlights
- GTI Energy is focused on ISR-amenable uranium projects in Wyoming, USA.
- The flagship Lo Herma project in the Powder River Basin contains a recently updated mineral resource of 8.57 Mlbs of U3O8 at average grade of 630 ppm.
- GTI also holds projects in the Great Divide Basin and Green Mountain areas in Wyoming, and earlier-stage uranium-vanadium assets in Utah.
- To date, GTI has delineated total combined uranium resources of 10.32 Mlbs (indicated and inferred) and substantial combined exploration targets in the range 12 to 20 Mlbs across its Wyoming projects.
- Wyoming is a historically significant uranium producing region with existing infrastructure and a supportive regulatory environment.
- GTI is well-placed to take advantage of the worsening uranium supply deficit and rapidly growing demand for uranium, particularly from the United States, the world’s largest consumer of uranium.
Key Projects
Wyoming Uranium Projects
GTI's focus on Wyoming ISR projects positions it well to capitalize on trends in the uranium sector. ISR mining is generally faster to build, lower cost and more environmentally friendly than conventional mining methods. Wyoming has a long history of uranium production and hosts current producers and several more additional permitted processing facilities, potentially allowing for rapid development of new projects.
The potential quantity and grade of Exploration Targets is conceptual in nature and there has been insufficient exploration to estimate a JORC-compliant MRE. It is uncertain if further exploration will result in the estimation of a MRE in the defined exploration target areas. In addition to drilling conducted in 2024, Exploration Targets have been estimated based on historical drill maps, drill hole data, aerial geophysics (as reported during 2023) and drilling by GTI conducted during 2023 to verify the historical drilling information. There are now 954 drill holes in the Lo Herma project area with the drill programs conducted by GTI during 2023 and 2024 designed, in part, to test the Lo Herma Exploration Target.
The Wyoming projects – comprising the Lo Herma, Great Divide Basin and Green Mountain projects – are located in the Powder River and Great Divide Basins.
Lo Herma
The company’s exploration work is currently prioritizing resource development at Lo Herma, where recent drilling has successfully verified the historical Lo Herma drill hole database.
The Lo Herma project, located just 10 miles from Cameco's Smith Ranch-Highland facility (the largest ISR uranium plant in the US), appears particularly promising. Recent drilling results have confirmed and expanded known mineralization, with the potential to significantly increase the resource base.
The company is undertaking an accelerated program at Lo Herma with the primary objective of expanding its resource base. This ongoing initiative aims to grow the known mineralization both along trend and at depth. GTI is exploring in both the Wasatch formation and the deeper Fort Union formation, which both hold the potential to add significant additional mineralization to the project's resource inventory.
Concurrent with resource expansion, GTI is taking crucial steps to de-risk the Lo Herma project. The company is in the process of completing hydrogeologic and water monitoring wells, which are essential for understanding the project's hydrogeology and planning future production scenarios. Furthermore, GTI has collected core samples for metallurgical testing, a critical step in optimizing the ISR process and demonstrating the project's economic viability.
Looking ahead, GTI has set ambitious targets for advancing Lo Herma through key development milestones, including a potential scoping study in 2025. Positive results from these studies could serve as significant catalysts for the company, potentially leading to a material re-rating of the stock as the project's economic potential becomes clearer.
Great Divide Basin and Green Mountain
The company continues to advance its other Wyoming projects, including those in the Great Divide Basin and Green Mountain areas. Exploration at Green Mountain can commence in 2025 now that the necessary permits are in place, providing potential for additional resource growth and diversification of the company's asset base. Permits are also in place for future drilling at the company’s Great Divide Basin and Utah projects.
The Great Divide Basin project consists of the Thor, Logray, Loki, Odin, Teebo, Wicket and Green Mountain claims. The approximately 13,000-hectare group of projects is prospective for ISR-amenable sandstone-hosted roll-front uranium. The Wyoming projects are situated 5 to 30 kilometers from Ur-Energy’s Lost Creek ISR plant. The projects are also located near Rio Tinto’s Sweetwater/Kennecott Mill.
GTI Energy’s landholding in the Great Divide Basin was bolstered by the acquisition of the Green Mountain project comprising 5,585 hectares of contiguous ISR uranium exploration claims which abuts the Rio Tinto claims at Green Mountain. Historical drill data and geophysics confirm the presence of major uranium mineralisation at the projects.
Green Mountain lies immediately adjacent to the Great Divide Basin project and adjacent to Energy Fuel’s 30 Mlb Sheep Mountain, Ur-Energy’s Lost Soldier, Rio Tinto’s Jackpot & UEC’s Antelope deposits. Green Mountain contains a number of uranium mineralised roll fronts hosted in the fertile Battle Springs formation.
Utah
Henry Mountains Uranium Project
Exploration at Henry Mountains has focused on approximately 5 kms of mineralised trend that extends between the Rat Nest & Jeffrey claim groups and includes the Section 36 state lease block. Uranium and vanadium mineralisation in this location is generally shallow at 20 to 30 meters average depth. The region forms part of the prolific Colorado Plateau uranium province which historically provided the most important uranium resources in the USA. Sandstone-hosted ores have been mined in the region since 1904 and the mining region has historically produced in excess of 17.5 Mt @ 2,400 ppm U3O8 (92 Mlbs U3O8) and 12,500 ppm V2O5 (482 Mlbs V2O5).
Management Team
Bruce Lane - Executive Director
Bruce Lane has significant experience with ASX-listed and large industrial companies. Lane has held management positions in many global blue-chip companies as well as resource companies and startups in New Zealand, Europe and Australia. He holds a master’s degree from London Business School and is a graduate member of the Australian Institute of Company Directors. Lane has led a number of successful acquisitions, fund raising and exploration programs of uranium and other minerals projects during the last 20 years, most notably with ASX listed companies Atom Energy, Stonehenge Metals and Fenix Resources (FEX).
Matt Hartmann - Director
ISR uranium specialist Matt Hartmann is an executive and technical leader with more than 20 years of international experience and substantial uranium exploration and project development experience. He first entered the uranium mining space in 2005 and followed a career path that has included senior technical roles with Strathmore Minerals and Uranium Resources. He is also a former principal consultant at SRK Consulting where he provided advisory services to explorers, producers and prospective uranium investors. Hartmann’s ISR uranium experience has brought him through the entire cycle of the business, from exploration, project studies and development, to production and well field reclamation. He has provided technical and managerial expertise to a large number of uranium ISR projects across the US including, Smith Ranch – Highland ISR Uranium Mine (Cameco), Rosita ISR Uranium Central Processing Plant and Wellfield (currently held by enCore Energy), the Churchrock ISR Uranium project (currently held by Laramide Resources), and the Dewey-Burdock ISR Uranium project (currently held by enCore Energy).
Simon Williamson - Non-executive Director
Simon Williamson was general manager and director of Cameco Australia until late 2023 and has significant uranium industry experience, networks and skills from his 13 years at Cameco. During his tenure with Cameco, Williamson managed relations with key government ministers and departments and community stakeholders. He managed project approvals processes, including negotiations with State and Federal agencies and reviewing the PFS for the Yeelirrie project.
Williamson was intimately involved in obtaining environmental approval for the Kintyre and Yeelirrie uranium projects, including developing and implementing a program of environmental baseline studies, government and community consultation and negotiating land access. Prior to his appointment as general manager, he led the government and regulatory affairs, environmental and radiation safety activities of Cameco in Australia.
James (Jim) Baughman - Executive Director
James Baughman is a highly experienced Wyoming uranium geologist and corporate executive who will help guide the company’s technical and commercial activities in the US. Baughman is the former president and CEO of High Plains Uranium (sold for US$55 million in 2006 to Uranium One) and Cyclone Uranium.
Baughman has more than 30 years of experience advancing minerals projects from grassroots to advanced stage. He has held senior positions (i.e., chief geologist, chairman, president, acting CFO, COO) in private and publicly traded mining & mineral exploration companies during his 30-year career.
He is a registered member of the Society of Mining, Metallurgy, Exploration and a member of the Society of Economic Geologists with a BSc in geology (1983 University of Wyoming) and is a registered professional geologist (P. Geo State of Wyoming). Baughman is a registered member of the Society of Mining, Metallurgy, and Exploration (SME) and a qualified person (QP) on the Toronto Stock Exchange (TSX) and Australian Stock Exchange (ASX).
Petar Tomasevic - Non-executive Director
Petar Tomasevic is the managing director of Vert Capital, a financial services company specializing in mineral acquisition and asset implementation. He has worked with several ASX-listed companies in marketing and investor relations roles. Tomasevic is fluent in five languages. He is currently appointed as a French and Balkans language specialist to assist in project evaluation for ASX-listed junior explorers. Most recently, he was a director at Fenix Resources (ASX:FEX), which is now moving into the production phase. He was involved in the company’s restructuring when it was known as Emergent Resources. Tomasevic was also involved in the company’s Iron Ridge asset acquisition, the RTO financing, and the development phase of Fenix’s Iron Ridge project.
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Disrupting the uranium supply chain through highly prospective ISR projects in Wyoming
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A$4.5M Placement to Underpin Resource Growth Strategy
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Drilling Planned to Update & Grow Lo Herma Resource
30 April
Quarterly Activities/Appendix 5B Cash Flow Report
09 July
Ekin Ober on Why AI Could Be Mining’s Most Valuable Tool Yet
For Ekin Ober, bringing generative artificial intelligence (AI) to the critical metals sector through her work at Aethos Labs wasn’t just about technological innovation — it reshaped how she thinks about strategy and sustainability in mining.
Now a principal at Kinterra Capital, Ober applies that broad, cross-disciplinary lens to investment decisions, emphasizing the importance of digital fluency, stakeholder alignment and long-term viability.
Her experience helps her identify operational bottlenecks and social license challenges early — essential in guiding assets like nickel and copper projects from concept to production.
The Investing News Network (INN) sat down with Ober during the Fastmarkets Lithium Supply & Battery Raw Materials conference in Las Vegas, to learn more about the amalgamation of AI and mining.
While mining has long been viewed as a slow adopter of new technologies, Ekin Ober sees the tide turning — especially when it comes to AI.
However one of the largest learning curves has been educating industry stakeholders about the value of generative AI.
“They don’t need to be tech experts,” she said, “but it’s our job to show them how the tools work, and how their concerns can be addressed.”
As AI gains traction across the sector, she noted that even conservative markets are beginning to host dedicated discussions on the technology — a sign that change is accelerating.
How AI is being deployed
In addition to benefiting project planning through better modeling and digital twin, AI is making mining more efficient, safe and environmentally responsible.
In exploration, startups like KoBold use machine learning to analyze geological data, drastically cutting the time and cost of identifying potential lithium, copper, nickel and cobalt deposits
Operationally, majors such as Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), BHP (ASX:BHP,NYSE:BHP,LSE:BHP) and Freeport-McMoRan (NYSE:FCX), deploy AI-powered autonomous haul trucks, drills and predictive maintenance systems that have slashed downtime and fuel use by up to 15 percent, while boosting throughput by 10 to 15 percent.
On the environmental front, AI tools optimize water management, monitor air quality and reduce waste, BHP’s Escondida mine reportedly saved over 3 gigaliters of water and 118 gigawatt hours of energy since 2022.
While AI isn't without its own controversy, usually arising from its energy consumption, Ober explained that AI integration can help reduce a mining site's overall energy intensity.
It is estimated that one billion daily AI prompts utilize 340 megawatt hours of electricity each day, while a mining site can use upwards of 1000 - 5000 megawatt hours. According to data from Natural Resources Canada, global mining operations consume 3 percent - 6 percent of the world's electricity.
Together, AI can help the mining sector better target deposits and reduce the amount of energy deployed.
“Drill holes (alone) use 3000 liters of diesel. And when you look at grinding, grinding ore is 70 percent of the mine’s electricity (consumption),” said Ober.
She added: So if you're using the technology for scans, you're able to use computer vision and scan a core, or look at the geography to reduce the number of drills, or the grinding exercise that you're going through, then it can actually save 1000s of hours of energy, conserving more than it consumes.”
From policy bottlenecks to permit approvals
This efficiency has made AI data sets appealing to governments as well. Through initiatives like DARPA’s CriticalMAAS and a collaboration with the US Geological Survey, AI models can now transform geologic map processing — from years to mere days — by automating georeferencing and mineral feature extraction.
These tools help rapidly assess hundreds of critical minerals across vast regions, accelerating decision-making and reducing exploration risk.
Meanwhile, the Pentagon’s AI-driven metals forecasting program, now managed by the Critical Minerals Forum, models supply, pricing and policy scenarios to bolster US sourcing strategies — especially for rare earths, nickel and cobalt.
For Ober, AI can also be integral to the often extended permitting process, while also implementing ESG goals and best practices. She explained that at Kinterra, AI is already playing a key role in streamlining permitting assessments, one of the most complex hurdles in mine development.
The firm has built a closed-loop system using large language models layered with its own criteria and values, including permitting stages, Indigenous engagement and community sentiment. The tool filters thousands of data points — from state filings to news releases and emails — extracting only what’s relevant.
Jurisdiction-specific updates are then summarized and delivered directly into Microsoft Teams, offering a real-time, digestible overview of key permitting signals.
“We need the company and the community to be engaged,” she said. “We take a very proactive approach. We engage very early on.”
Industry wide Ober sees AI improving the efficiency and transparency of mining permitting.
“One of the biggest concerns we hear is around security,” said Ober. “But we already trust companies like Google, Microsoft and Apple with sensitive data every day. If you’re using legitimate tools with strong policies in place, it’s manageable.”
Ober believes AI’s biggest value lies in its ability to accelerate slow, document-heavy government processes.
“Permitting can stall a project for years — not because of technical issues, but because no one has time to read the documents,” she said. “That’s where AI can help. Large language models can extract key information, layer in governance or environmental criteria and summarize it in a way that’s actionable.”
To address the risk of accuracy, Kinterra has designed its systems to generate traceable outputs.
“You can click a link and go straight to the original document and quote,” she explained, adding that this level of transparency is crucial for regulators and investors alike.
“It’s hard to commit capital when you don’t know if or when a permit will be granted,” she said. “AI won’t replace people, but it can get us to decision points faster — something the entire sector needs.”
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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08 July
Chris Berry: The West Must Invest in Refinement Now or Fall Further Behind
China’s grip on the battery metals sector has drawn increasing scrutiny in recent years as nations confront growing concerns around supply chain risk and resource security.
Through a blend of domestic output and aggressive overseas investment, particularly in Africa and South America, Chinese companies now command a significant share of upstream supply.
The country is responsible for roughly 60 percent of global rare earths production and controls over 70 percent of cobalt supply through its stakes in mines across the Democratic Republic of Congo.
Meanwhile, its lithium footprint continues to grow through key assets in Chile, Argentina and Australia, reinforcing China’s strategic control across the entire battery metals value chain.
In addition to resource extraction China also firmly controls the global midstream of the battery metals supply chain, particularly in refining and processing. The country currently accounts for approximately 70 to 72 percent of lithium refining and 68 percent of cobalt refining, with similar dominance in graphite and rare earth processing.
China’s control of the battery metals supply chain was a dominant theme at the Fastmarkets Lithium Supply & Battery Raw Materials conference held at the end of June in Las Vegas.
During the “Building North America's Sustainable EV and ESS Supply Chain” expert panelists explored complex forces shaping the battery supply chain, pointing to the intersection of commodities, geopolitics and evolving technologies as critical pressure points.
Chris Berry, founder and president of House Mountain Partners, stressed the importance of mastering midstream production amid shifting chemistries, and called for bold action, specifically, increased funding for refining and next-generation processing.
He also advocated for selective collaboration with China, highlighting the necessity of leveraging mutual strengths in a deeply interlinked global market.
The Investing News Network caught up with Berry after the panel discussion to find out what investors are misunderstanding about the battery supply chain and where opportunity lies.
For Berry, a convergence of high interest rates, volatile metal prices and deepening policy uncertainty is keeping critical investment sidelined at a time when it’s most needed.
Speaking to current market dynamics, Berry noted that while capital was readily available two years ago — when lithium traded around US$80,000 per tonne and other metals saw record highs — today’s environment is far less favorable.
“The cost of capital is much higher, and policy uncertainty is the biggest issue investors are grappling with,” he said, pointing to unpredictable tariff measures and export controls as key deterrents.
For institutional investors and private equity funds, that lack of clarity makes it nearly impossible to deploy capital into battery supply chains with confidence.
The timing couldn’t be worse, Berry added, as nations seek to reindustrialize and compete with China’s dominant position. “Any delay in getting money into the ground today means falling further behind tomorrow.”
Lithium's boom/bust cycle
After 15 years in the lithium space and three boom-bust cycles, Berry sees the market once again caught between extremes.
“In each cycle, prices have overshot on the upside and overcorrected on the downside,” he said, noting that lithium peaked around US$85,000 per metric ton in late 2022 — well above sustainable levels.
Fast forward to mid-2025, and the price has tumbled to just over US$8,000, a level Berry also considers unsustainable given the strength of long-term demand.
Despite price volatility, he still expects lithium demand to grow by 20 percent annually through the end of the decade — requiring the industry to double in size by 2030. But with investor hesitation and incentive pricing far off, capital is slow to flow into new supply.
“How is it supposed to double when the economics aren’t there?” he asked, warning that delays today could set the stage for the next inevitable boom. For now, opaque pricing and limited market visibility continue to challenge investors and developers alike.
Western refining capacity
During his panel discussion Berry suggested that the west look to the midstream segment of the battery metals supply chain as an opportunity for growth.
“I would fund the refining portion of the supply chain, whether that's refining raw materials, lithium, nickel, what have you, or magnets, next generation technology. That to me, is really the bottom line and where the government should focus,” he told the attendees.
Berry expanded on his answer explaining that mines can take over a decade to be fully permitted while refining and processing sites have a much shorter lead time.
“This is the fundamental difference. If we're talking about building a mine, (that)could be 10 - 15, plus years. It's very situationally dependent,” he said to INN. “But if we're talking about refining capacity, I would argue that from the time you found a site, got the permits, raised the capital, put it in the ground, is five years.”
For Berry, the buildout of western refining and processing is the logical step in wresting some of the supply chain control out of China's hands.
“If we're talking about how we can lessen dependence on China? That's how you do it. You strike a deal with raw material providers or producers. Maybe they're Canadian, maybe they're Australian, maybe it's Chilean. Maybe it's a country in Africa. But, the process of capacity is absolutely critical. It's much faster to production,” he said.
Partnership and collaboration
While Berry is adamant that more refining capacity outside of China is needed, he is not opposed to strategic partnerships and alliances with the nation.
“It's a US$500 billion a year relationship. You think about trade between the US and China, and I don't even know if it's feasible to unwind that,” he said during the panel.
“I don't think it's wise to be honest with you, but with respect to the EV supply chain, I just think, why wouldn't we try and find a way to selectively partner and leverage each other's strengths?”
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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07 July
Albemarle's Commitment to Sustainability Shines in New Report
As global demand for critical minerals intensifies, Albemarle (NYSE:ALB) continues to position itself as a global leader not only in lithium production but also in sustainable practices.
In its newly released 2024 sustainability report, titled “Values-Led, Purpose-Driven,” the company underscores its commitment to reducing its environmental footprint across six continents, supporting global supply chains and promoting human rights across operations.
From cutting freshwater intensity at its Chilean operations by 28 percent to procuring 24 percent of its electricity from renewable sources, Albemarle is striving to grow its energy storage business while keeping carbon emissions flat, as it translates ESG goals into action.
The Investing News Network sat down with Vice President of Investor Relations and Sustainability, Meredith Bandy, to learn more about how Albemarle is embedding sustainability into every layer of its business, from lithium and bromine operations to community engagement and product stewardship.
Before joining Albemarle, Bandy held a similar role at gold major Newmont (TSX:NGT,NYSE:NEM) and brings a wealth of experience from the financial services industry as well.
“I have that core experience in finance, being on Wall Street, doing investor relations and then branching out more into other areas has been something I've really enjoyed,” said Bandy of the variety of roles she has held.
As head of investor relations and sustainability Bandy was part of the team that drafted Albemarle’s 2024 sustainability report released in mid-June. The comprehensive 79-page overview highlights Albemarle’s environmental focus with tangible gains in renewable energy use and water conservation.
The company now sources 24 percent of its electricity from renewables, up from 16 percent in 2023, and aims to grow its energy storage business without increasing Scope 1 and 2 emissions.
A new decarbonization roadmap will address key emissions hotspots through electrification, efficiency upgrades and low-carbon power alternatives. On the water front, Albemarle cut freshwater intensity at its La Negra site in Chile by 28 percent, while recent upgrades at its Jordan Bromine Company plant are expected to bring that facility in line with 2030 reduction targets.
At the center of Albemarle’s strategy is community and customer base, as Bandy explained.
“Staying on top of the regulatory requirements, and staying really close to our customers and understanding what's most important to them,” she said.
Bandy went on to note: “When we talk to the customers, it's not surprising, they want to make sure that their EVs are clean, that they're low carbon emissions, they're being responsible with the water use, that there's no human rights violations in the supply chain. Sustainability can be a lot of things to a lot of people, but making sure we stay in those really core issues to our customers, and staying close to our customers, to make sure we're doing the right things.”
Albemarle has expanded its commitment to transparency and accountability by offering externally verified carbon footprints for its lithium and bromine products across key facilities in the US, Jordan and China.
The company also completed a human rights assessment at its Salar de Atacama operation in Chile to ensure alignment with international standards.
The 2024 sustainability report was prepared in accordance with leading ESG frameworks, including GRI, SASB and TCFD, reinforcing Albemarle’s emphasis on robust governance and responsible supply chain practices.
As Bandy mentioned the company is also working closely with customers, not only delivering the lithium and bromine but also developing key technologies. Albemarle supplies a key lithium derivative to Kraton, a producer of specialty polymers and bio-based chemicals, for use in styrenic block copolymers (SBCs), an essential additive in plastic waste recycling.
This application supports circular economy initiatives by enhancing the reuse of materials. Beyond the technical partnership, Albemarle and Kraton share a strong alignment in values and sustainability goals, reinforcing their mutual commitment to responsible innovation and environmental stewardship.
Recycling as a resource
The global black mass (battery materials) recycling market, driven by the rise of electric vehicles and renewable energy storage, is projected to grow from US$13.04 billion in 2024 to US$51.53 billion by 2033, with a compound annual growth rate (CAGR) of 16.8 percent.
Asia Pacific currently leads the sector, accounting for nearly 68 percent of market revenue, while the US market is expected to expand at a 17.8 percent CAGR. Automotive batteries make up over half of today’s market, with nickel-based batteries expected to grow fastest through 2033.
Although black mass is a burgeoning industry, Bandy sees the sector’s current and future value.
“For us in the long term, (black mass) will probably be another resource,” she said. “Typically, the black mass that comes out of recycling is very similar to the concentrate produced at our conversion assets. So I think it's an opportunity for us.”
While recycling currently focuses more on nickel, lithium’s role is expected to grow over time, especially in regions like Europe and Asia.
China, with the world’s largest electric vehicle fleet, is already seeing significant volumes of lithium available for recycling and is expected to continue its lead in that space.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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04 July
Top 5 Australian Mining Stocks This Week: Argosy Climbs 89 Percent on Rincon Lithium Spot Contract
Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.
This week's top performing stocks includes firms focused on a wide variety of metals, including lithium, rutile and manganese. Lithium stocks, including top gainer Argosy Minerals (ASX:AGY), picked up momentum this week as prices moved upwards for a second straight week.
Companies focused on magnetite and rare earths were also among the week's top performers, including Freehill Mining (ASX:FHS), which saw its shares surge following insider buying from key executives including Chairman Benjamin Jarvis.
The top stocks below weren't the only ASX companies making news this week. Gold company Meeka Metals (ASX:MEK) joined the spotlight by announcing its first gold pour at the Murchison gold project in Western Australia, which was achieved within 12 months of breaking ground.
Additionally, Cobalt Blue Holdings' (ASX:COB) Broken Hill cobalt project was awarded a three-year extension to its major project status initially granted in March 2022.
Mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) is moving to the next stage of mine development at its Brockman Syncline 1 iron ore project in Pilbara, Western Australia. The company has already committed a US$1.8 billion investment to extend the life of the Brockman hub, with first ore expected in 2027.
Market and commodity price round-up
The S&P/ASX 200 index opened at 8,514.20 on Monday (June 30) and closed at 8,600.70 on Thursday (July 3), reflecting a 1 percent gain over the period.
As for precious metals, gold climbed by 1.93 percent in US dollars, starting the week at US$3,274.11 per ounce and closing at US$3,337.32 by July 4. In Australian dollars, gold increased 1.58 percent from AU$5,013.87 to AU$5,093.25.
Silver jumped 2.61 percent in US dollars this week, opening at US$36.00 on Monday and closing the week at US$36.94. The metal also climbed in Australian dollars, up 2.25 percent from AU$55.13 to AU$56.37 within the same period.
Top ASX mining stocks this week
How did ASX mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Australian mining stocks below as we break down their operations and why these mining stocks are up this week.
Stock data for this article was retrieved at 4 p.m. AEST on July 3 using TradingView's stock screener. Only companies trading on the ASX with market capitalizations greater than AU$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Argosy Minerals (ASX:AGY)
Weekly gain: 88.89 percent
Market cap: AU$27.66 million
Share price: AU$0.034
Argosy Minerals is a Perth-based lithium producer established in 2010. The company’s flagship asset is the Rincon lithium brine project in Argentina’s Salta Province, in which it currently holds a 77.5 percent interest with plans to increase its interest in Rincon to 90 percent through its earn-in agreement.
Rincon sits within the world-renowned Lithium Triangle, spanning 2,794 hectares. It entered production of battery-grade lithium carbonate in 2024 at its 2,000 tonne per year demonstration facility, but has since suspended operations due to the low lithium price environment.
The company continues to advance feasibility for its 12,000 tonne per year expansion so it is construction ready.
On June 27, the company announced a lithium carbonate spot sales contract with a Hong Kong-based chemical company for 60 tonnes of 99.5 percent lithium carbonate.
Shares of Argosy surged 94.74 percent on Thursday (July 3), closing at AU$0.037 after opening at AU$0.019.
In a July 3 letter, the company attributed its sharp share price surge to the announcement of the spot sales contract, which “led to increased interest and enquiries from battery industry participants.” The company noted that recent site visits may have also contributed to greater market attention.
Argosy also pointed to a broader uplift in sentiment across both US- and ASX-listed lithium stocks around the time of its announcement, saying that there is potentially a more optimistic outlook for the sector.
2. Freehill Mining (ASX:FHS)
Weekly gain: 66.67 percent
Market cap: AU$13.66 million
Share price: AU$0.005
Freehill Mining is a Melbourne-based exploration company focused on developing iron ore, copper and gold assets in Chile, as well as producing materials to the construction sector as a revenue stream.
Its flagship project is the Yerbas Buenas magnetite deposit, located near La Serena in Northern Chile. The company also holds the Arenas and El Dorado concessions, which together span over 2,000 hectares.
El Dorado is a copper-gold project situated within the El Tofo fault and the Yerbas Buenas concession block. Freehill confirmed in a May 14 report that it has already contracted a local geologist to undertake further exploration at the project, with exploration scheduled to commence in late May.
In April, Freehill shared a major expansion in Chile, signing a long-term lease on a second site near La Serena to bolster its current construction materials supply from its plant at Yerbas Buenas. The new facility is expected to reduce transport costs by approximately 40 percent and increase margins by serving smaller contractors.
According to its recent report, the March 2025 quarter recorded AU$636,000 in sales, down from AU$954,000 in the previous quarter due to seasonal factors.
Over the last week, several company insiders and shareholders made significant investments in the firm.
On June 27, the company published three changes of directors’ interests. Chairman Benjamin Jarvis acquired more than 66 million shares with a combined consideration of AU$200,701 through a combination of direct and indirect ordinary shares and options, including a single purchase of 52 million indirect ordinary shares. Directors Peter Williams and Paul Davies both acquired 1.56 million indirect ordinary shares.
Days later, on June 30, the company’s largest shareholder Gavin Ross increased his position in Freehill from 7.65 percent to 8.43 percent by acquiring 85.5 million shares for a total investment AU$331,400.
3. Peak Minerals (ASX:PUA)
Weekly gain: 59.26 percent
Market cap: AU$98.26 million
Share price: AU$0.043
Peak Minerals is an exploration company focused on discovering and developing mineral resources in Cameroon and Australia.
Its flagship project is its Minta rutile project in Central Cameroon. The mineral rutile is a common form of natural titanium dioxide with end uses including optical elements, welding and titanium metal. It also holds the Kitongo and Lolo uranium projects in the country.
On Tuesday (July 1), the company shared assays from 156 holes drilled across the Minta, Minta East and Afanloum areas that all included heavy mineral mineralisation and rutile, causing a large increase of the zone of heavy mineral mineralisation at the project. Results include highlighted alluvial intercepts such as 3.85 meters at an average grade of 18.4 percent heavy minerals and 4.75 meters at 14.2 percent, both from Afanloum.
A maiden mineral resource is in the works for Minta.
4. Black Canyon (ASX:BCA)
Weekly gain: 52.38 percent
Market cap: AU$20.74 million
Share price: AU$0.16
Black Canyon is focused on the exploration and development of manganese. It holds a significant amount of land in the Pilbara region of Western Australia, where its flagship Balfour Manganese Field is located.
According to Black Canyon, Balfour hosts the largest contained manganese deposit in Western Australia and the second largest in Australia. It has a global mineral resource estimate of 314 million tonnes at 10.5 percent manganese, including a higher-grade component of 99 million tonnes at 12.9 percent manganese, across three prospects.
Hydrometallurgical testwork on manganese oxide from Balfour resulted in over 99 percent pure high purity manganese sulphate monohydrate, meaning the product is suitable for batteries.
On June 30, the company announced that its drill program at its Wandanya manganese-iron project, located in Eastern Pilbara, confirmed that large manganese and iron mineralised systems were present at the site. Assays from the drilling are expected over the next two months.
A day after the news, Black Canyon’s shares closed at AU$0.135, marking a 12.5 percent gain for the day.
5. Ionic Rare Earths (ASX:IXR)
Weekly gain: 50 percent
Market cap: AU$63.21 million
Share price: AU$0.018
Ionic Rare Earths is a Melbourne-based producer and recycler of magnet and heavy rare earth elements, with operations in Uganda, UK, Brazil and the US.
Its flagship asset is the Makuutu rare earths project in Uganda, which is recorded as one of the world’s largest ionic adsorption clay deposits.
Makuutu holds a JORC resource of 532 million tonnes at 640 parts per million total rare earth oxide. It contains neodymium, praseodymium, dysprosium and terbium, minerals that are critical for electric vehicles and defense technologies.
Recent developments for Ionic Rare Earths include its 50 percent owned Viridion joint venture being accepted to receive Brazilian government funding towards developing a pilot rare earth refinery, demonstration magnet recycling plants, metallurgical testing and more. The company announced the funding on June 13.
Five days later, the company announced that Viridion is considering expanding its footprint to include a potential US-based rare earth refinery after the success in Brazil.
“IonicRE’s international expansion strategy now encompasses the UK/Europe, Asia, South and North America, as we work with our global partners to build an ex-China rare earths supply chain,” Managing Director Tim Harrison said.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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03 July
International Lithium Corp.
Investor Insight
International Lithium offers investors exposure to the growing critical metals sector through its advanced-stage Raleigh Lake lithium-rubidium project in Ontario, early-stage copper-cobalt exploration at Firesteel in Ontario, and strategic focus on Southern Africa, all supported by strong infrastructure and a seasoned leadership team.
With strategic divestments, a robust financial position, and a focused growth strategy, International Lithium is well-positioned to meet the rising demand for lithium and other critical metals
Overview
International Lithium (TSXV:ILC,OTC:ILHMF,FRA:IAH,OTCQB:ILHMF) is a Canada-based mineral exploration company focused on the discovery and development of lithium and other critical metals essential for the transition to a cleaner, greener planet. With a portfolio of projects located in mining-friendly jurisdictions, the company’s primary objective is to build shareholder value by advancing its key assets towards production while expanding its presence in emerging critical metals regions.
International Lithium's flagship asset is the 100 percent owned Raleigh Lake lithium and rubidium project in Ontario. A preliminary economic assessment (PEA) for the Raleigh Lake project, completed in December 2023, demonstrated strong project economics and significant resource growth potential, including an annual after-tax cash flow of C$634 million, NPV of C$342.9 million and IRR of 44.3 percent, with a nine-year mine life and project duration of 11 years. This assessment did not yet include rubidium, which represents significant additional potential pending further market analysis.
Complementing its lithium focus, the company is advancing the Firesteel copper-cobalt project in northwestern Ontario, targeting high-grade base metal mineralization to further diversify its critical metals exposure.
In addition to its Canadian projects, International Lithium is positioning for further international growth with a strategic focus on Southern Africa. It has applied for exclusive prospecting orders (EPOs) in Zimbabwe, one of the world's most prospective regions for hard rock lithium exploration.
Recent strategic divestments, including the sale of the Avalonia project stake, have strengthened ILC's financial position, enabling focused investment in its core projects.
The company is led by an experienced management team with a strong technical background in mineral exploration, project development and corporate finance. Supported by access to established infrastructure, a commitment to sustainable development practices, and a clear strategic focus, International Lithium is well-positioned to capitalize on the increasing global demand for lithium and other essential materials critical to the clean energy transition.
Company Highlights
- International Lithium is focused on developing lithium and critical metals projects in Canada and Southern Africa, aiming to deliver shareholder value through project development, strategic partnerships and project sales.
- Raleigh Lake is ILC’s wholly owned flagship lithium-rubidium project in Ontario, Canada, with a positive PEA completed in December 2023.
- ILC holds a 90 percent interest in the Firesteel copper and cobalt project in Northwestern Ontario, with exploration permits filed and drilling programs planned.
- The company has applied for exclusive prospecting orders (EPOs) in Zimbabwe and is continuing to review further exploration opportunities in Southern Africa.
- ILC is debt-free with a robust financial position. It has monetized its non-core assets, including the sale of its stake in the Avalonia project in Ireland, resulting in a C$2.5 million payment and a 2 percent net smelter royalty.
- The company is led by an experienced management team with a proven track record in advancing mineral exploration projects.
Key Projects
Raleigh Lake
The Raleigh Lake project is ILC’s flagship asset, located approximately 25 kilometres west of Ignace, Ontario. The project covers a contiguous land package of 32,900 hectares and is 100 percent owned by the company. Raleigh Lake benefits from excellent infrastructure access, situated near the Trans-Canada Highway, a Canadian Pacific Railway line, and existing natural gas and hydroelectric infrastructure.
Major public infrastructure relative to the Raleigh Lake project
Raleigh Lake is notable for its dual potential to host both lithium and rubidium mineralization. The lithium is found primarily in spodumene-bearing pegmatites, while rubidium is associated with microcline-rich zones of the same lithium-cesium-tantalum pegmatite system. In 2023, International Lithium published a maiden mineral resource estimate (MRE) that delineated significant resources for both lithium and rubidium using separate cutoff criteria.
For lithium (Li₂O), the project hosts a measured and indicated resource of 5.88 Mt grading 0.79 percent Li₂O, and an inferred resource of 2.07 Mt grading 0.77 percent Li₂O, primarily within pegmatite #1. This lithium resource forms the basis of the company’s PEA, which demonstrated robust project economics with an after-tax NPV (8 percent) of C$342.9 million and an IRR of 44.3 percent.
The rubidium component, though not included in the PEA due to current market constraints, represents an additional potential value stream. The company has reported a measured and indicated resource of 133,000 tons at 6,163 ppm rubidium (0.67 percent Rb₂O) and an inferred resource of 123,000 tons at 4,224 ppm rubidium (0.46 percent Rb₂O), using a 4,000 ppm cutoff. The rubidium zones are found in association with potassic feldspar, offering a potentially recoverable byproduct pending further market and technical evaluation.
Given the project’s strong infrastructure position, mineral endowment, and defined development path, Raleigh Lake represents a compelling advanced-stage opportunity in North America's lithium supply chain. International Lithium is continuing infill and expansion drilling, environmental baseline studies, and metallurgical testing to support project advancement toward pre-feasibility.
Firesteel Project
The Firesteel project is an early-stage copper-cobalt exploration property located in northwestern Ontario, approximately 10 km west of Upsala along Highway 17. Spanning a 16-km corridor to the Firesteel River, the property lies within a geologically favorable region characterized by Archean metavolcanic and metasedimentary rocks, which are prospective for volcanogenic massive sulphide (VMS) and sedimentary copper systems.
International Lithium completed the acquisition of a 90 percent interest in the Firesteel project in May 2024, aiming to diversify its critical metals portfolio beyond lithium. Historical sampling on the property has returned encouraging results, including copper assays up to 2.6 percent and cobalt values reaching 309 ppm. Notably, the "Roadside 1" occurrence features semi-massive sulphide mineralization comprising pyrite, pyrrhotite, chalcopyrite and bornite. These findings suggest the presence of a highly metamorphosed VMS or sedimentary copper system, potentially up to 20 meters wide and extending over a kilometer in length.
The project's proximity to major infrastructure, including highways and railways, coupled with its strategic location near the company's Raleigh Lake project, enhances its development potential. International Lithium plans to conduct systematic exploration, including geochemical sampling and geophysical surveys, to refine targets for future drilling campaigns.
Wolf Ridge Project
Wolf Ridge is a 5,700-hectare grassroots lithium project located 20 km southwest of Upsala and near ILC’s Firesteel copper claims. The area benefits from excellent infrastructure, including proximity to Highway 17, power, and road access.
The project was highlighted by the Ontario Geological Survey (2021–2022) for its standout lake sediment anomalies - among the highest lithium values in the region - indicating strong potential for LCT pegmatite mineralization.
Read more on page 54 of the report here.
Southern Africa Exploration Initiative
Southern Africa is recognized as a prospective region for hard rock lithium, and International Lithium’s strategic focus reflects a proactive move to establish a presence in this emerging jurisdiction.
As part of its strategy to expand its critical metals footprint, International Lithium has applied for Exclusive Prospecting Orders (EPOs) over several prospective areas in Zimbabwe. The targeted regions are known for hosting spodumene, lepidolite and petalite-bearing pegmatites, indicating potential for significant lithium resources.
Although the EPO applications are still pending approval, the company has already conducted initial due diligence, including geological reviews and desktop studies, to prioritize exploration targets once access is granted. Zimbabwe’s growing importance as a global lithium supplier, combined with favorable mining policies, offers a compelling backdrop for the company's expansion efforts. International Lithium intends to leverage its technical expertise and exploration experience to quickly evaluate and develop these opportunities upon receiving the necessary permits
Management Team
John Wisbey – Chairman and CEO
John Wisbey joined International Lithium in 2017, initially serving as deputy chairman before being appointed chairman and CEO in March 2018. Under his leadership, the company has undergone a significant transformation, including achieving 100 percent ownership of the Raleigh Lake project, divesting non-core assets, and expanding into new jurisdictions such as Zimbabwe. He founded two London AIM-listed companies: IDOX, which provides software for the UK local government; and Lombard Risk Management, which specializes in software for bank risk management and regulation. He also established CONVENDIA, a private company that specializes in software for cash flow forecasting, project valuation and M&A financial analysis. With a background in banking and financial technology entrepreneurship, Wisbey brings extensive experience in corporate leadership and strategic development. He is also the company's largest shareholder.
Maurice Brooks – Director and CFO
Maurice Brooks joined the board of ILC in 2017. He is a licensed senior statutory auditor in the UK. Since 2000, he has been a senior partner at Johnson Smith & Co. in Staines, Surrey. Before that, Brooks was a senior partner in Johnsons Chartered Accountants in the London Borough of Ealing. His commercial and investment experience includes executive directorships in manufacturing and an investment accountant role in the superannuation fund of the Western Australian state government. His early professional employment includes Ball Baker Leake LLP and LLC and Price Waterhouse Coopers-UK.
Anthony Kovacs – Director and COO
Anthony Kovacs joined the board of ILC in 2018 and has worked with the company since 2012. He has over 25 years of experience in mineral exploration and development. Before joining ILC, he held senior management roles in which he sourced and advanced iron ore and industrial minerals projects. Kovacs was involved in early-stage work at the Lac Otelnuk Iron Ore project in Quebec, Canada and the Mustavaara Vanadium Mine in Finland. Before that, Kovacs worked for Anglo American where he focused on Ni-Cu-PGE and IOCG projects. At Anglo-American, Kovacs was directly involved in several discoveries internationally. Kovacs has significant experience with industrial minerals, ferrous metals, non-ferrous metals and precious metals projects throughout the Americas, Europe and Africa.
Ross Thompson – Non-executive Director
Ross Thompson joined the board of ILC in 2017 and is the chair of the audit and remuneration committees. He is a speaker and expert in marketing behavioral science. In 1995, he founded Giftpoint Ltd. which is now one of the largest specialist promotional merchandise businesses in the UK. with offices in London and Shanghai. Giftpoint Ltd.’s clients include L’Oreal, Oracle, Ocado and Pernod Ricard among others. Thompson was president of IGC Global Promotions, one of the world’s oldest and largest global networks of premium resellers, for seven years. He is an active investor with a special interest and understanding of natural resources businesses.
Geoffrey Baker – Non-executive Director
Geoff Baker joined the board of ILC at the end of 2022 and is a member of the audit committee. He has a career in the natural resource and finance industries. He is a director of Tim Trading, a company offering consultancy services in the oil and gas industry. During his tenure as manager of Insch Black Gold Funds, Baker received the Investors' Choice Swiss Fund Manager of the Year Award. He is a co-founder of a digital collectible non fungible token CryptoChronic and of Cannastore, a pilot e-commerce website. Baker holds a bachelor's degree from the University of Windsor in Ontario.
Muhammad Memon – Corporate Secretary and Financial Controller
Muhammad Memon became corporate secretary of ILC in 2021. He has over 10 years of experience in managing finance and compliance functions of public companies in various sectors including mining exploration, investment management, real estate and technology. He assists companies with debt and equity financings, cash flow management and forecasting, legal and regulatory compliance, investor communications, stakeholder engagement and risk management. He is a member of the Chartered Professional Accountants of Canada and a fellow of the Association of Chartered Certified Accountants, United Kingdom.
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02 July
3 Key Themes from Fastmarkets' 2025 Lithium Supply & Battery Raw Materials Event
Market volatility, Chinese control, supply chain risk mitigation and financing emerged as some of the most prevalent themes at the 2025 Fastmarket’s Lithium Supply Battery Raw Materials (LBRM) conference in Las Vegas.
The event, which is in its 17th year, drew a crowd of roughly 1000 delegates, industry experts and analysts, to discuss the current landscape and future projections of the battery materials sector.
During his opening remarks, Fastmarkets CEO Raju Daswani highlighted the growth and maturation the battery raw materials sector has experienced.
“We meet here at an extraordinary moment, the global lithium and battery materials industry is no longer a niche … It is now central to energy security, to industrial policy and to geopolitical strategy,” he said.
INN is live from Las Vegas at @Fastmarkets' Lithium Supply & Battery Raw Materials Conference!
— Resource Investing (@INN_Resource) June 25, 2025
This year's event features 1,000 attendees and 543 companies. Stay tuned for our coverage.#Lithium #BatteryMetals pic.twitter.com/yvh7CPVJm1
Daswani then went on to set the tone for the conference by posing four key questions about the current market designed to guide attendees' thinking throughout the event.
- Decoupling vs. Interdependence: Can the US and China truly decouple their lithium and battery supply chains, or will market realities force continued interdependence?
- Technology Leadership Race: Who will lead battery innovation?
- Price Sustainability: How sustainable is the current lithium price environment?
- Hidden Supply Chain Risks: What proactive steps can the industry take to address emerging risks like permitting delays, power constraints, community opposition, water limitations, talent shortages, and geopolitical instability in critical mining regions?
These questions framed the agenda for the four day event while also underscoring some of the key challenges and strategic considerations facing the global lithium and battery raw materials industry.
Robust growth projections
China’s dominance in the battery metals space was a central theme at the conference and explored via a variety of angels including supply and demand dynamics, growth projections and collaboration.
At the “Lithium Market Outlook 2025–2035: Navigating Demand Across EVs, Storage, and Strategic Sectors” presentation, Paul Lusty, head of battery raw materials at Fastmarkets painted a bullish picture for the future of lithium prices, despite the current challenges the market is facing.
#EV paradox? Paul Lusty of @Fastmarkets explains that EV sales are slower than expected, but still remain robust on a year-on-year basis.#Investing #ElectricVehicles #BatteryMetals pic.twitter.com/a2REfTQz86
— Resource Investing (@INN_Resource) June 25, 2025
We're facing headwinds, no doubt, and we're also seeing quite a lot of negative or bearish sentiment widespread in the market, and I think at times, it's amplified by voices that really overlooked the phenomenal levels of demand that we're seeing in many aspects of the market,” he said.
Although prices have floundered since 2022, the Fastmarkets team is projecting a 12 percent CAGR through to 2035.
“The long term outcome looks incredibly bullish and very compelling, the fundamentals are really still very strong, and these are anchored in some very powerful, mega trends that we see developing within the global economy.”
These trends include the urgent drive for climate change mitigation, the once in a generational shift in the global energy system, and the rise of energy intensive technologies such as artificial intelligence.
China's place in western supply
As Daswani noted in his opening remarks China’s role in the battery metal sector was a recurring topic at the conference, with several speakers and panelists weighing in.
In one of the most compelling panels “Decoding the China Playbook", panelists recounted the country’s nearly two decade long strategy to develop a robust, vertically integrated supply chain.
Iggy Tan, chairman of Lithium Universe (ASX:LU7,OTCPink:LUVSF), told the crowd China’s dominance in the battery metals sector began with a national goal of lowering vehicle emissions in the cities.
“(The) strategy was to reduce pollution in the cities, and that started the battery revolution,” he said of the nation’s switch to electric scooters and cars.
Additionally, the decision was further supported by a long term mandate.
“With the 15 year plan, government regulations, incentives, and investment started to flow according to the plan,” said Tan. “One of the downsides with Western economies is that (the government) changes every four years, whereas in China, the plan is just updated, and you can make long term investments in this area.”
.@globallithium recounts how #China overtook #Japan's #lithium battery production in the early 2000s.
— Resource Investing (@INN_Resource) June 26, 2025
"It's like Survivor — they outplayed, outwitted and outlasted," he said at @Fastmarkets' "Decoding China Playbook" panel. #Investing #Lithium pic.twitter.com/xagbLhBBAC
As Joe Lowry, president of Global Lithium (ASX:GL1,OTCPink:GBLRF) and widely considered "Mr. Lithium", added the battery supply chain in China, was further strengthened in 2003 when then president Hu Jintao selected the battery industry among his 10 Champion Industries.
Over the two decades since the Asian nation has invested heavily up and down the supply chain.
“If it was a TV show, it would be Survivor. China, outplayed, outwitted, and outlasted their competition,” said Lowry.
Financing the future
As with most cyclical commodities once lithium prices began to fall financing and investment also declined. Although the long term demand outlook is poised to benefit from battery sector expansion and energy storage system growth, the current glut in the market has created a challenge for Western companies.
This was reiterated by SC Insights Founder and Managing Director Andy Leyland, who used a colour coded chart to explain the discrepancy.
.@andyleyland1 of @SCInsightsLLC takes the stage at @Fastmarkets to present his #lithium price rainbow chart, highlighting the discrepancy in production relative to the lithium price.#Investing #BatteryMetals pic.twitter.com/UkRVlQqB3q
— Resource Investing (@INN_Resource) June 26, 2025
Leyland noted that at current low lithium prices (around US$7,000 per ton), companies are not making final investment decisions (FIDs) for new lithium projects.
Additionally over the past 12 months, hardly any FIDs have been happening in the industry. This is because at such low price levels, most projects are not financially viable.
Producers are cutting back on capital expenditures and are unable to justify new investments. The low prices make it economically challenging for companies to move forward with new lithium production projects, effectively freezing new developments in the sector.
This sentiment was echoed at the “Unlocking Funding: Bridging the Liquidity Gap and the Battery Market” panel, where YJ Lee, director and co-fund manager at Arcane Capital Advisers offered advice for junior miners.
“There's very little financing available. So the junior miners … have to really cut the corporate costs, keep that as low as possible. But the operations must go on. They must continue drilling. They must continue developing. Because the next up cycle, I believe, is just around the corner.”
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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