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May 22, 2023
Auclair is Cygnus’ second lithium project in James Bay alongside its Pontax project; Cygnus’ first drilling program at Auclair is set to start in July
Cygnus Metals Limited (ASX:CY5)is pleased to announce highly promising results from a desktop study on its Auclair project in Canada’s lithium-rich James Bay region.
Highlights
- Initial desktop studies have already identified 67 pegmatites which have never been sampled for lithium and a further 14 pegmatite intervals across five historic drill holes which have never been assayed
- Identified pegmatites measure up to 1.6km in strike and 60m in width (Figure 1)
- Partial assays* received from sampling of historic drill hole AC-2010-004 returned:
- 9.8m @ 0.8% Li2O from 212.8m, including 5.1m @ 1.0% Li2O and 1m @ 1.2% Li2O
(*Assays are partial as the full pegmatite interval could not be recovered due to winter conditions)
- 9.8m @ 0.8% Li2O from 212.8m, including 5.1m @ 1.0% Li2O and 1m @ 1.2% Li2O
- Cygnus has an exceptional first mover opportunity to conduct the first ever lithium exploration at Auclair, with mineralisation in drill hole AC-2010-004 completely open and never followed up
- Exploration is about to commence with geophysics (including LiDAR), mapping and rock chip sampling in June. Diamond drilling is scheduled to commence in July to follow up the spodumene-bearing pegmatites in hole AC-2010-004
- Through strategic acquisition, Cygnus has already increased its ground position at Auclair to a belt scale 337km2
- The project boasts excellent infrastructure with year-round road access and high-voltage transmission lines running through the project as well as being located within 80km of the Nemiscau AirportThe project is located in the same greenstone belt and just 60km due east of Critical Elements Resource Corp’s Rose Deposit (34.2Mt @ 0.9% Li2O), and just 50km northeast of Whabouchi (55.7Mt @ 1.4% Li2O), which is owned and operated by Nemaska Lithium1
Cygnus Managing Director David Southam said: “These results highlight Auclair's immense potential. To have so many pegmatites and known spodumene in an area never explored for lithium is a remarkable start and puts Cygnus in a prime position to make a discovery in the region. Given what we already know about Auclair, we are wasting no time ramping up exploration, with drilling scheduled to start in July.”
The study identified 67 pegmatites which require immediate follow-up. Cygnus has also received assays which confirm previously reported visuals of spodumene mineralisation from sampling of historic gold exploration core at Auclair (refer ASX release dated 28 February 2023).
Figure 1: Unsampled pegmatites across the Auclair Project both in drilling and outcrop. – Background regional geology interpretation from SIGEOM.
Auclair is a recent addition to the Cygnus lithium project portfolio in James Bay and was acquired due to its immense potential to host significant spodumene-bearing lithium pegmatites. The Company has since grown the project to 337km2 through two separate acquisitions and now has a dominant land position across the highly prospective Eastmain greenstone belt (EGB).
Click here for the full ASX Release
This article includes content from Cygnus Metals, 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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24 October 2024
Cygnus Metals
Investor Insight
Cygnus Metals is focused on advancing its highly prospective copper-gold and lithium projects located in prolific mining regions in Quebec, Canada, boasting a high-grade copper and gold resource of 10.8 million tons @ 3.5 percent copper equivalent, and existing infrastructure that includes a 900 ktpa processing facility. The company is strategically positioned to become Quebec's next copper producer.
Overview
Cygnus Metals (TSXV:CYG) is a copper-gold and lithium exploration and development company, positioning itself as a near-term producer in the prolific Chibougamau region of Québec, Canada. With a clear strategic focus, Cygnus Metals is actively advancing its assets toward production, taking advantage of its brownfields high-grade copper and gold projects, existing infrastructure, and supportive jurisdiction. The company’s overarching goal is to establish itself as Quebec’s next copper producer, with a hub-and-spoke mining strategy centered around its Copper Rand mill.
Following its strategic merger with Dore Copper, Cygnus Metals has consolidated a significant land package in prolific mining regions in Quebec - Chibougamau (copper-gold) and James Bay (lithium) - boasting a high-grade copper and gold resource of 10.8 million tons (Mt) @ 3.5 percent copper equivalent, and existing infrastructure that includes a 900 ktpa processing facility.
Cygnus Metals is currently focused on advancing the Chibougamau project, which is located within an area known for its historical copper and gold production, within the world-renowned Abitibi Greenstone Belt.
The company is unique because it owns the only mill in the area. The Copper Rand mill is designed to process an average of 1,350 tonnes-per-day and will need to be refurbished. This infrastructure gives Cygnus Metals a significant competitive advantage, both in terms of reducing capital expenditure requirements and potentially generating additional revenue streams by processing ore from third-party operations.
Québec, as a mining jurisdiction, provides strong support for mineral exploration and development. It ranks highly in the Fraser Institute’s rankings of mining-friendly jurisdictions, offering political stability, favorable tax incentives, and access to well-established infrastructure, including roads, rail, and power.
Cygnus Metals is led by an experienced and highly skilled management team. Ernest Mast, the company’s president and managing director, has over three decades of experience in the mining industry, including leadership roles at companies such as Primero Mining and Minera Panama (Inmet Mining). Mast’s background in managing junior and small-cap mining companies is well-suited to Cygnus Metals' current development phase. The broader management and technical teams bring a wealth of operational expertise, with several individuals having extensive experience in exploration, project development, and mining operations in Canada and internationally.
Company Highlights
- Cygnus Metals has consolidated a significant land package within the prolific mining regions of Quebec, Canada: Chibougamau and James Bay.
- A 2022 preliminary economic assessment (PEA) for the Chibougamau project outlines a relatively modest initial capital expenditure of C$180.6 million, highlighting the economic potential of the project, with an after-tax net present value (NPV) of C$193 million and an internal rate of return (IRR) of 22.1 percent.
- The Corner Bay zone within Chibougamau is among the highest-grade copper deposits in North America, with an indicated resource of 2.6 Mt at a grade of 2.66 percent copper and an inferred resource of 5.8 Mt at 3.44 percent copper grade.
- The 100 percent owned Copper Rand mill will be refurbished for future production and will be the only operating mill in the Chibougamau region. The mill will have extra capacity and provides the ability to process its own ore while potentially offering toll milling services to other nearby mining projects.
- Cygnus Metals is led by an experienced and highly skilled management team.
Key Project
Location of the Chibougamau Project relative to other major deposits and processing facilities
Cygnus Metals' assets are located within two well-known mining regions in Quebec, with a long history of production. The company’s current strategy revolves around a hub-and-spoke model, with the Copper Rand mill serving as the processing hub, fed by multiple satellite deposits.
Chibougamau Copper Gold Project
Located within a historic, high-grade mining camp, the Chibougamau copper gold project spans 187 sq km and includes a 900 ktpa processing plant and existing major infrastructure. The project consists of seven exploration targets, three of which have an existing mineral resource 10.8 million tons @ 3.5 percent copper equivalent.
The Chibougamau region has a rich mining history dating back to the early 1900s. With 16 historic mines, the district has produced some 53.5 Mt @ 3.4 percent copper equivalent (1.8 percent copper and 2.1 grams per ton gold) for 945,000 of copper and 3.5 Moz of gold.
The PEA for the project anticipates a mine life of over 10 years, with the potential to produce 53 million pounds of copper equivalent annually. Metallurgical testing at Corner Bay has yielded positive results, with copper recoveries ranging from 96.8 percent to 98.2 percent, and the concentrate is of high commercial quality, making it highly attractive to smelters.
Cygnus is focused on growing the mineral resources base at the Chibougamau project and move towards a feasibility study. The resource base, which currently stands at 3.6 Mt of measured and indicated mineral resources at 3 percent copper equivalent and 7.2 Mt of inferred mineral resources at 3.8 percent copper equivalent, for a total of 10.8 Mt at 3.5 percent copper equivalent for 306 kt copper and 314 koz gold. The project includes three key assets with existing– Corner Bay, Devlin, Cedar Bay and Joe Mann – all located within 50 km of the central 900 ktpa processing facility.
The Corner Bay deposit is the cornerstone of the project, demonstrating exceptional grades and exploration potential, positioning it as one of the highest-grade copper projects in North America. The latest resource estimate, as of 2022, includes 2.7 million tonnes of indicated resources at a grade of 2.66 percent copper and 5.8 million tonnes of inferred resources at a grade of 3.44 percent copper. The deposit remains open in several directions and at depth, suggesting that further drilling could potentially expand the resource base and extend the mine life.
Newly staked ground over the highly prospective Chibougamau Pluton and surrounding anorthositic host rock
Devlin is a smaller satellite deposit located approximately 10 kilometers west of Corner Bay. The project has a measured and indicated resource of 775,000 tonnes at a grade of 2.17 percent copper, along with an inferred resource of 484,000 tonnes at a grade of 1.79 percent copper. While Devlin’s size is modest compared to Corner Bay, it plays a crucial role in Cygnus Metals' hub-and-spoke mining strategy. Ore from Devlin will be transported to Corner Bay for pre-concentration, before being trucked to the Copper Rand mill for final processing. The company is planning to employ room-and-pillar and drift-and-fill mining methods at Devlin, with operations expected to commence shortly after Corner Bay comes online.
Cedar Bay is a past-producing mine located near the Copper Rand mill. It produced 3.9 million tons of ore at an average grade of 1.63 percent copper and 3.21 grams per ton gold during its operating life. Drilling programs have defined in the southwest zone 130,000 tons of indicated resources at a grade of 9.44 grams per ton gold and 1.55 percent copper, and 230,000 tons of inferred resources at a grade of 8.32 grams per ton gold and 2,13 percent copper.
The Joe Mann gold-copper deposit is another component of Cygnus Metals' hub-and-spoke strategy. Located 60 km south of the Copper Rand mill, Joe Mann produced 1.2 million ounces of gold and 28 million pounds of copper over its mine life, at an average grade of 8.26 grams per ton gold and 0.25 percent copper. The current resource estimate includes 608,000 tons of inferred resources, with an average grade of 6.78 grams per ton gold and 0.24 percent copper.
Board and Management
David Southam - Executive Chairman
David Southam is highly experienced in operations, project development and capital markets across the resources and industrial sectors. He was previously the managing director of Mincor Resources. Southam is non-executive director of Ramelius Resources and non-exec chair of Andean Silver Limited.
Ernest Mast – President and Managing Director
Ernest Mast has 30 years of experience in various technical and executive roles in the mining industry, across a wide range of commodities, geographies and development stages. Mast is on the board of Scottie Resources. Mast previously held the positions of president and chief executive officer at Primero Mining, vice president of corporate development at Copper Mountain Mining, vice president of operations at New Gold and president and CEO of Minera Panama S.A., Inmet Mining Corporation’s subsidiary, developing the $6 billion Cobre Panama project. Mast began his career with Noranda and its affiliates, where he took on roles of increasing responsibility over a 20-year timeframe. Mast is a member of l’Ordre des ingénieurs du Québec and has a bachelors’ and masters’ degree in metallurgical engineering from McGill University. Mast also received post-secondary business training at Henley College in the UK and at the Universidad Catolica in Chile.
Mario Stifano – Non-executive Director
Mario Stifano is a seasoned mining executive and chartered professional accountant with over 16 years of experience working with exploration, development and producing mining companies. Stifano is currently the chief executive officer of Galantas Gold. Stifano has held a number of senior executive positions including chief executive officer of Cordoba Minerals, executive chairman with Mega Precious Metals, vice president and chief financial officer with Lake Shore Gold, and vice president and chief financial officer of Ivernia. Stifano has been instrumental in raising over $700 million to explore and fund mining projects, including raising over $500 million at Lake Shore Gold, to develop three gold mines which are currently producing over 180,000 ounces of gold annually, and are now part of the Canadian assets within Pan American Silver.
Kevin Tomlinson - Non-executive Director
Kevin Tomlinson is a structural geologist and investment banker. He is the non-executive chair of Bellevue Gold and of FireFly Metals. Tomlinson has a successful track record in base and precious metals project development.
Raymond Shorrocks – Non-executive Director
Raymond Shorrocks brings a wealth of experience in corporate finance, stockbroking and financial services in Ontario. He was the previous non-executive chair of FireFly Metals and Bellevue Gold. He is the executive chair of Alicanto Minerals.
Brent Omland – Non-executive Director
Brent Omland is the co-CEO of Ocean Partners providing a range of trading services for miners, smelters and refiners globally. He is a chartered accountant and has held CFO roles for publicly listed companies in the resources industry.
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27 February
Investor Presentation Acquisition of the Strategic Prophet River Ge-Ga Project
Prophet River, British Columbia, Canada – Brownfields Exploration Project Strategic Metals – Germanium and Gallium
Rapid Lithium Limited (ASX:RLL) has announced Investor Presentation Acquisition of the Strategic Prophet River Ge-Ga Project.
The Prophet River Project is located in British Columbia with prior exploration demonstrating the high-grade nature of the Zinc, Germanium and Gallium mineralisation:
- 21 previous drill holes completed with bulk samples from two zones graded up to 22.69% Zn, 40 g/t Ga, 1,500ppm Ge and 0.36% Pb*
- 100% interest in 2,110 Ha (21km2) covering the historic Cay Mine and surrounding prospective areas
- Germanium and Gallium are exceptionally high value strategic metals used in the technology sector, semi-conductors, fibre-optics, solar cells, magnets, batteries and LEDs with recent increases in commodity prices – China has banned the export of Germanium and Gallium making it a key strategic metal of high value
- Prophet River bulk samples reported some of the highest Germanium values recorded globally – a key strategic project
Click here for the full ASX Release
This article includes content from Rapid Lithium, 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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26 February
ASX Listing and CEO Designate
CleanTech Lithium PLC (AIM: CTL), an exploration and development company advancing sustainable lithium projects in Chile, announces that it now expects the Australian Securities Exchange ("ASX") listing to launch in April and complete in May. While the ASX listing process is taking longer than initially expected, the Board and our advisers believe that waiting for a positive decision by the end of March on entering the streamlined direct negotiation process for the Special Lithium Operating Contract ("CEOL") for Laguna Verde and completing the Pre-Feasibility Study ("PFS") will significantly strengthen our investment case in the Australian market.
The Company also recognises that, under ASX listing rules, it will now have to include 2024 year-end audited financials ("2024 Financials") in the ASX-listing Prospectus before the Prospectus can be published. The 2024 Financials are well-advanced and expected to be released by the Company before the end of March 2025, some three months earlier than normally planned so that the Prospectus can be finalised shortly thereafter. The Prospectus will also include results of the PFS, which is progressing well and is anticipated to be finalised and published in April.
The Company has been informed by Tony Esplin, nominated as CEO designate in November 2024, that he has reconsidered his position and, for personal reasons, will not be taking up his intended appointment as CEO. Mr Esplin's appointment was conditional on the successful listing of the Company on the ASX which is now expected to complete in May. The Company´s Executive Chairman, Steve Kesler, will continue as interim CEO whilst the Board re-engages with alternative candidates as the CEO to lead CleanTech Lithium into its next phase of growth.
Steve Kesler, Executive Chairman, CleanTech Lithium PLC commented:
"We believe that pushing out the ASX listing to include the resolution allowing the Company to enter direct negotiation with Government on the CEOL and results from the PFS will be taken positively by Australian investors. We regret that Tony has decided to withdraw from the proposed appointment as CEO, and we will start to re-engage with other high calibre candidates immediately."
The Board believes the ASX listing will enhance shareholder value and will provide further updates on the ASX listing and CEO search in due course.
Investor Webinar
CleanTech Lithium will be hosting a live webinar via the London Stock Exchange platform Spark Live on Wednesday 26th February. This webinar will begin at 13:00 GMT and investors can register for free via this link: https://shorturl.at/5020m
For further information contact: | |
CleanTech Lithium PLC | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +56 9 312 00081 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. www.ctlithium.com
Click here for the full release
This article includes content from Cleantech Lithium PLC, 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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24 February
Jindalee Realises $2.75M from Sale of Non-Core Asset
Jindalee Lithium Limited (Jindalee, the Company; ASX: JLL, OTCQX: JNDAF) advises that the Company has sold its shareholding in Dynamic Metals (ASX: DYM, Dynamic), raising $2.75M before costs.
Dynamic was formerly a Jindalee subsidiary which held Jindalee’s Australian exploration assets. Dynamic was spun out of the Company in January 2023 following a $7M IPO which included a priority entitlement to Jindalee shareholders1, leaving Jindalee as a pure play US lithium company focussed on the 100% owned McDermitt Project (McDermitt), one of the largest lithium deposits in the US and of global significance.
In mid-November 2024 Jindalee announced the results of a Pre-Feasibility Study (PFS) on McDermitt2. The PFS confirmed a 63 year life with the Project producing 1.8Mt Lithium Carbonate at C1 costs of US$8,670/t for the first 40 years and a 5 year payback. The PFS also noted excellent potential to reduce capital and operating costs as well as increase production at McDermitt.
Priority activities following completion of the PFS include engagement with potential funding partners and US Government agencies, together with investigation of opportunities to improve Project economics, permitting and community engagement. The proceeds from the Dynamic sale will enable these activities to be accelerated.
Jindalee’s CEO Ian Rodger commented"This transaction is firmly aligned with our strategy of advancing McDermitt while preserving shareholder value. At a time when many lithium companies are struggling to raise capital, Jindalee’s ability to unlock funding from a non-core asset enables us to accelerate project development in a less dilutive way. History shows that projects advanced during downturns are best positioned to capture the upswing, and with lithium prices at unsustainable levels, a supply crunch is inevitable. This funding provides us the runway to progress key catalysts—including engagement with potential funding partners and US government agencies, project optimisation, and advancing permitting and community engagement. As one of the most advanced sedimentary lithium projects in the US, McDermitt is strategically positioned to benefit from the policy priorities of the new administration as the US moves to secure domestic supply of critical minerals."
Click here for the full ASX Release
This article includes content from Jindalee Lithium 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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21 February
Extension of Broker Option and Retail Offer
Further to the announcements made on 10 February 2025 (RNS Number: 5769W) and 17 February 2025 (RNS Number: 2615X), CleanTech Lithium PLC announces that it is extending the deadlines for both the Broker Option and Retail Offer, partly due to an administrative delay registering the ISIN for the warrant instrument. No other changes to the timetable have been made.
Revised Expected Timetable
Broker Option and Retail Offer close | 5:00pm on 7 March 2025 |
Results of the Broker Option and Retail Offer announced | 10 March 2025 |
Admission and dealings in Broker Option Shares and Retail Offer Shares commence | 20 March 2025 |
The extension provides additional time for investors and shareholders to participate as the Company progresses its strategy to develop sustainable lithium projects in Chile, supporting the global energy transition. Bids and applications already made remain valid and binding, with no further action required from those who have already submitted a bid in the Broker Option Bookbuild or an application for the Retail Offer.
As stated in the RNS circulated on 10 February 2025, the Company announced an accelerated bookbuild to raise gross proceeds of £2.4 million by way of a placing of 15,000,000 new Ordinary Shares at a price of 16 pence per new Ordinary Share.
The Company also granted a Broker Option to Fox-Davies Capital Limited, pursuant to which up to an additional £2.0 million can be raised at the Issue Price. In view of the potential interest of retail shareholders in participating in the Fundraising, the Company also announced a retail offer via BookBuild (the "Retail Offer") of new ordinary shares (the "Retail Offer Shares") at a price of 16 pence per Retail Offer Share together with one Warrant for every Retail Offer Share. The Retail Offer is only being made available to existing shareholders of the Company on the same financial terms as shares are available under the Broker Option.
The amount raised under the Broker Option and the Retail Offer will not in aggregate exceed £2 million.
Words and expressions defined in the Company's announcements of 10 and 17 February 2025 shall have the same meaning in this announcement.
For further information contact: | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 cleantech@celicourt.uk |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. www.ctlithium.com
Click here for the full release
This article includes content from Cleantech Lithium PLC, 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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20 February
Chinese Firm Halts Lithium Tech Exports as Global Supply Chain Shifts Accelerate
A Chinese company has halted exports of filtration equipment used in lithium extraction, reflecting the impact of Beijing’s proposed restrictions on battery and lithium technology exports.
Jiangsu Jiuwu Hi-Tech (SZSE:300631) informed customers last month that it would stop exporting a key lithium-processing component known as a sorbent starting on February 1, Reuters reported on Tuesday (February 18).
The news outlet notes that the move signals Chinese manufacturers are adjusting their practices even before Beijing’s proposed export controls have been formally implemented.
Sorbents are essential in lithium extraction from brine and other solutions. China is the largest producer of these materials, but the scale of the market remains unclear due to limited official data.
China's proposed export restrictions, announced in January, would require companies to obtain government licenses for overseas sales of certain battery and lithium-related technologies, including sorbents.
An anonymous lithium extraction technology company executive said both Jiangsu and Sunresin New Materials (SZSE:300487) — another major sorbent producer — are talking to Chinese authorities about the proposed controls.
China’s Ministry of Commerce has not publicly commented on the proposal since its announcement, but the prospect of tighter restrictions is already influencing corporate decision making. Some industry participants believe the proposed measures are discouraging exports of listed items, particularly to countries perceived as unfriendly.
A China-based international lawyer working with clean energy firms noted that commerce ministry officials have visited companies that could be affected, warning one firm against proceeding with a US$1 billion export deal under negotiation. The lawyer added that banks are requiring additional approvals before financing exports of controlled items.
China’s Ministry of Commerce has not responded to Reuters' requests for comment.
Similar measures have already disrupted global supply chains in other sectors. In December, China announced an export ban on antimony, a critical mineral used in batteries and flame retardants.
Western nations diversifying battery metals supply chains
Potential restrictions on Chinese sorbents has raised concerns among western companies seeking to develop lithium extraction capabilities, particularly oil firms exploring lithium recovery from brine deposits.
More broadly, the uncertainty surrounding China’s export policies aligns with wider efforts by western governments and companies to secure alternative sources of critical minerals.
The US, the EU and other allies have accelerated policies aimed at reducing dependence on China for materials essential to electric vehicle batteries, renewable energy technologies and defense applications.
The Minerals Security Partnership, launched in June 2022, is a collaborative effort among 14 countries and the EU. Its primary goal is to secure supply chains for critical minerals, reducing dependence on any single source.
In the semiconductor industry, efforts to diversify supply chains have also gained momentum.
Under the Biden administration, the US enacted the CHIPS and Science Act, allocating nearly US$53 billion to bolster domestic chip production. This legislation aims to revitalize US semiconductor manufacturing, create jobs and enhance national security by reducing reliance on foreign suppliers.
In Europe, the EU's Critical Raw Materials Act, introduced in 2023, aims to increase domestic production of strategic minerals while establishing partnerships with resource-rich nations outside China. The EU has been engaging with countries such as Chile and Argentina — major lithium producers — to strengthen supply chain security.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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