The Conversation (0)
- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Top Stocks
Top Resource Stocks
Top Tech Stocks
Top Life Science Stocks
Trending
Trending Articles
Trending Press Releases
Trending Companies
Trending Reports
Resource
Popular Lists
Investing Ideas
Outlook Reports
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
Investing Guides
Tech
Popular Lists
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
Investing Ideas
Outlook Reports
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
Investing Guides
Life Science
Popular Lists
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
Outlook Reports
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Investing Guides
Lithium Targeted Drilling To Commence At Forrestania Project
June 14, 2023
Forrestania Resources Limited (ASX:FRS) (Forrestania or the Company), is pleased to announce that it has executed a drilling contract for a lithium-focussed RC drilling programme at its flagship Forrestania Project. The RC drill rig has arrived on site and drilling is due to commence imminently.
Highlights
- RC drill rig on site with lithium-focussed drilling to commence at Forrestania.
- RC drill programme for an initial 3000 - 4000m at three high priority targets, including a maiden drilling programme at the highly promising Calypso prospect.
The RC drilling programme for up to 4,000m will test targets at three of the company’s high priority lithium targets:
Calypso – maiden drilling programme to define the extents of and investigate whether pegmatites identified from mapping and historic drilling1 host lithium mineralisation.
South Iron Cap East– following up on the highly encouraging geochemistry returned from pegmatites intersected in the company’s previous drilling campaign2.
Giant - testing the down-dip extent of high-grade lithium mineralisation (10m @ 1.49% Li2O) which was intersected in the company’s previous drilling campaign2. Additionally, the strike continuation of the Giant pegmatite body will be tested to the south.
Forrestania Resources MD Michael Anderson commented:
“We are extremely excited to see what this latest drilling programme will uncover across three of our highest priority targets. The drilling represents a carefully refined and targeted programme – a testament to our exploration strategy which is continually being optimised through results analysis, investigation into historic data and observations in the field. We remain confident that the Forrestania project remains highly prospective for a significant lithium discovery”.
Figure 1: Forrestania project showing locations of upcoming lithium-targeted drilling locations – Calypso, South Iron Cap East and Giant.
Discussion
The company is eagerly anticipating its maiden drilling programme at Calypso, as it holds the belief that the project possesses all the right criteria for a potentially significant lithium discovery. This includes the following which was detailed in the company’s announcement ‘Pegmatite identified at new Calypso prospect’ dated 29th November 2022:
- Favourable geological setting – the prospect is located in the Forrestania greenstone belt and overlies ultramafic and mafic rocks which are interpreted to be the preferential host for pegmatite intrusions. Additionally, Calypso occurs within 4.5km of South Ironcap (Figure 2) where Western Areas (now IGO) previously reported a significant intercept of 50m @ 0.95% Li2O.3
- Promising soil geochemistry – the area shows well-defined anomalism for key lithium pathfinder elements: beryllium (see Figure 3) and rubidium. The anomaly trends in a north-west, south-east orientation over a length of ~1.4km and a width of ~440m1 and is consistent with an underlying ultramafic unit1.
- Outcropping pegmatite - pegmatite rock chips1 (FR001306 and FR001307 – see figure 3) were identified during mapping and soil sampling. The samples exhibit a mineral assemblage of quartz, feldspar, tourmaline and muscovite; considered a typical mineral assemblage of fractionated pegmatites.
- Pegmatite intercepts in historic drilling (untested for lithium) – there is a line of historic air core drilling which crosscuts the Calypso prospect1 (Figures 2 - 3). The historical aircore drill holes were drilled in 2005 by LionOre Australia Pty Ltd to test the source of aeromagnetic highs. Historic logs report the intersection of numerous pegmatites and granitoids within the regolith profile. The nature of the intercepts appear somewhat flat lying in cross-section (Figure 4) with some intercepts not closed out.
The upcoming drilling will aim to validate and extend the historic pegmatite intercepts with deeper RC drill holes along the same drill line. Additionally, the extent of the pegmatite body will be fully tested along strike of the anomalous soil trend.
Click here for the full ASX Release
This article includes content from Forrestania Resources, 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.
20h
Quarterly Activities Report – to 30 September 2024
Metals Australia Limited (“Metals Australia”, the “Company” or “MLS”) is pleased to report its activities for theQuarter ended 30 September 2024 (“Quarter”):
Corporate
- The Company’s cash balance at the end of the Quarter was $16.02 million (Q4 $17.35 million), following net outflows of $1.33M, which included $1.17M spent on exploration, metallurgical test work and project studies. Staffing, consultant and administration costs, offset by interest on fixed term deposits resulted in net outflow of $159 K for the quarter. Please see details in the Appendix 5b.
Highlights
- Commenced and completed phase 1 of an exploration campaign at the Corvette River Project in the James Bay region of Quebec Canada1. The program was aimed at advancing three highly prospective Gold, Silver and base metals projects – Felicie, West Eade and East Eade. Post quarter end the company announced results from the program, further enhancing the potential of the three project areas at a time when gold prices have reached all-time highs. Further work for a Phase 2 field program is being planned.
- Announced comprehensive exploration plans for three Critical and Precious metals projects in Australia2, representing the beginning of the most significant exploration period in the company’s history. The projects include Warambie in WA’s Pilbara region (prospective for Gold, base metals and Lithium), Big Bell North Gold in WA’s Murchison Region and the Warrego East Copper, Gold and Bismuth project in the NT.
- Launched the Warambie aircore drilling program in the Pilbara in September3, following receipt of approvals from the regulator and land holder and the award of a competitively bid drilling tender.
- Launched Gravity and Soil sampling programs at the Big Bell North Gold project in the Murchison3, which together with an extensive aeromagnetic survey, recently completed, represented the most significant exploration ever undertaken on the tenements. Post quarter end, the company announced significant drill targets had been identified and that a 4500m air core drilling program was contracted to begin.
- Significantly advanced its Lac Carheil Graphite project in Quebec, Canada4 – Provided a comprehensive update on the Metallurgical test work program, the design of the Process Flow Sheet for the Flake graphite concentrates plant and the prefeasibility study during the quarter. Significant time was spent in Canada by the CEO, advancing the project with Government and key stakeholder groups. The Company also added to its project land bank, increasing the claims area held by more than 60%. The additional claims extend ground holdings on identified graphite trends as well as land provisioning for the placement of project infrastructure.
- In addition to the above work, the release of the Canadian Federal Governments Critical Minerals Strategy Annual Report 20245 during the quarter further highlighted the significance of our Lac Carheil Graphite project. The growing urgency to develop domestic supplies of graphite, including 5 graphite mines and CSPG refineries, is directly connected to the over 200 GWH of committed battery manufacturing plants in Canada. Four plants are progressing, including one in Quebec (Northvolt) and three in Ontario.
Exploration & Project Development Review
Canadian Projects:
Lac Carheil Graphite – Critical Minerals Project, Quebec, Canada:
During the Quarter the Company applied significant effort to the advancement of its flagship Critical Minerals project. Significant progress was made in key areas4, including metallurgical test work, design of flake graphite concentrates plant process flow sheet and the prefeasibility study for the project. In parallel, considerable engagement was undertaken with government and key stakeholders in Canada and within Quebec. Engagement with government also resulted in submissions for grant funding – both in Canada and the USA, with further applications under development to support funding for the project. The land holding for the project was also extended by 62%, by pegging additional claims, including extensions of identified graphite trends and provision of land for project infrastructure placement. The company continues to advance consultation in support of its drilling permit application, for which an Impact Exploration Assessment was completed and submitted in alignment with new regulatory requirements in Quebec. Consultation discussions in support of the project, including drilling, continue in an open and productive manner with all stakeholders. Metals Australia is aligned with the Canadian and Quebec governments commitment to ensuring that indigenous communities benefit holistically from critical minerals projects.
Further, the Company notes the release of the Canadian Federal Governments Critical Minerals Strategy Annual Report, 20245 and the significance that report attaches to Critical Mineral projects such as ours. A link to the report is available on our website. Of note is the urgency with which Canada is progressing to secure supply of critical and strategic minerals for a rapidly advancing battery manufacturing base. The report notes the commitments of major battery and car manufacturers to rapidly progress the production of over 200 GWH of battery production capacity, annually. The report outlines the requirement for 5 graphite mines and 5 coated spherical purified graphite plants (CSPG) – all of which are required to help supply the capacity planned, in construction or already in operation. The environment for critical mineral project development in Canada and the USA is rapidly accelerating – which positions the Lac Carheil Graphite project as one of increasing significance, given its potential to be one of the largest, highest grade graphite projects in North America.
Click here for the full ASX Release
This article includes content from Metals Australia Ltd, 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.
Keep reading...Show less
21h
Lithium Universe Limited (ASX: LU7) – Trading Halt
Description
The securities of Lithium Universe Limited (‘LU7’) will be placed in trading halt at the request of LU7, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 29 October 2024 or when the announcement is released to the market.
ASX Compliance
Click here for the full ASX Release
This article includes content from Lithium Universe, 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.
Keep reading...Show less
22h
A$9 Million Equity Placing to Contribute to the Funding of the Ewoyaa Lithium Project
Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the Africa-focused lithium exploration and development company targeting the delivery of Ghana's first lithium mine, is pleased to announce the launch of an institutional placement (“Equity Placing”) of new fully paid ordinary shares of no par value each in the Company (“New Shares”) at an offer price of A$0.23 (equivalent to 11.73 pence) per New Share (“Issue Price”).
Highlights of the Equity Placing
- The Equity Placing will be undertaken by an institutional placement utilising the Company’s existing share authorities, launching today, to raise a minimum of A$9.0 million (£4.6 million/US$6.0 million). As part of the Equity Placing, the Company reserves the ability to accept oversubscriptions for up to A$3.0 million (£1.5 million/US$2.0 million).
- As part of the Equity Placing, the Company has received a signed commitment letter from Assore International Holdings Limited (“Assore”), the Company’s largest shareholder, to invest up to US$5 million (A$7.5 million/£3.9 million) through the purchase of up to 32,608,695 New Shares at the Issue Price (the “Assore Participation”).
- In addition, Executive Chairman Neil Herbert, Chief Executive Officer Keith Muller, and Non-executive Director Edward Koranteng, all Directors of the Company (the “Directors”), have provided an indication to invest up to A$290,000 in aggregate in the Equity Placing (the “Director Participation”). The Assore Participation and Director Participation are conditional on shareholder approval at the Company’s upcoming Annual General Meeting (“AGM”).
- Net proceeds from the Equity Placing will be used to contribute to funding the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana towards the Project Final Investment Decision (“Project FID”) and working capital requirements.
- The Equity Placing will be undertaken at a fixed issue price of A$0.23 (equivalent to 11.73 pence) per New Share, which represents a 11.5% discount to the last closing price of A$0.26 on 24 October 2024 on the ASX.
- Canaccord Genuity (Australia) Limited has been appointed as Lead Manager (“Lead Manager”) in connection with the Equity Placing. Wilsons Advisory & Stockbroking is acting as Co-Manager (“Co-Manager”).
Proposed Use of Proceeds
- Project Expenditure
- Optimisation and technical refinement of the Ewoyaa Definitive Feasibility Study (“DFS”);
- Expenditure related to advancing the Project through the remaining permitting activities to Project FID;
- Operational activities to achieve shovel readiness, including site preparation, relevant health and safety reports, the establishment of the Community Development Fund and the implementation of measures to manage and monitor Project impacts.
- Exploration
- Exploration of the highly prospective Rubino and Agboville licences in Côte d’Ivoire, as required under the terms of the licences.
- Working capital
- General working capital requirements.
Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:
“With significant recent progress made at Ewoyaa, despite having been impacted by the delay in the parliamentary ratification of the Mining Lease, this institutional Equity Placing will see the Company funded to advance the Project towards FID and shovel-readiness.
“Funds will be allocated towards the optimisation of the Ewoyaa DFS, the advancement of the Project through the key permitting and operational activities before we can break ground at the Project.
“We warmly welcome Assore’s commitment to participate in the Equity Placing. As a cornerstone investor in Atlantic Lithium since its AIM listing, Assore’s participation further underscores its belief in the Company achieving its goal of delivering spodumene concentrate production at Ewoyaa.
“Alongside CEO Keith Muller and Non-executive Director Edward Koranteng, I am proud to also be participating in the Equity Placing. As Directors, we believe in the importance of putting our money where our mouth is. We have done so on many occasions to date and, at such a pivotal moment for the Project, we are proud to take the opportunity to extend our belief in the Company’s ambitions.
“We look forward to the completion of the Equity Placing, which will facilitate our next steps towards delivering Ghana’s first lithium mine.”
Click here for the full ASX Release
This article includes content from Atlantic 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.
Keep reading...Show less
22h
Atlantic Lithium Limited (ASX: A11) – Trading Halt
Description
The securities of Atlantic Lithium Limited (‘A11’) will be placed in trading halt at the request of A11, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 28 October 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from Atlantic 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.
Keep reading...Show less
22h
Quarterly Activities and Cash Flow Report for the quarter ended 30 September 2024
Atlantic Lithium secures key permits to advance flagship Ewoyaa Lithium Project towards full permitting
Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce its Quarterly Activities and Cash Flow Report for the period ended 30 September 2024.
Highlights
Project Development:
- Post-period end, significant progress made towards the permitting of the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa” or “the Project”) in Ghana:
- Granted a Mine Operating Permit, representing the final regulatory approval required prior to commencing construction of the Project.
- Issued a Land Use Certificate, detailing the approval of the land within the Project’s Mining Area to be rezoned for mining purposes, as required prior to commencing construction and mining activities.
- Environmental Protection Agency (“EPA”) environmental permit granted in respect of the Project.
- Ewoyaa Mining Lease submitted to parliament to undergo the necessary ratification process.
- Completion of the Front-End Engineering Design (“FEED”) package for the Project, undertaken with DRA Projects.
Exploration:
- Ewoyaa Mineral Resource Estimate increased to 36.8Mt at 1.24% Li2O1, reported in accordance with the JORC Code (2012).
- Completion of baseline soil and stream sediment sampling across the Rubino and Agboville exploration licences in Côte d’Ivoire.
- Completion of soil geochemical sampling across the Senya Beraku prospecting licence area in the eastern portion of the Company’s Cape Coast Lithium Portfolio in Ghana.
Corporate:
- Ongoing delay of parliament’s ratification of the Ewoyaa Mining Lease combined with the subdued lithium market environment continues to impact Final Investment Decision timing, Minerals Income Investment Fund’s (“MIIF”) Project-level investment and the Company’s competitive offtake partnering process to secure funding to sufficiently cover the Company’s allocation of development expenditure for the Project.
- Cash on hand at end of quarter was A$7.5m.
Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:
“Important steps have been made over recent months in line with our efforts to advance Ewoyaa towards full permitting. Signifying the support of the Minerals Commission, the EPA and our local stakeholders, the grant of the EPA permit and Mine Operating Permit, respectively, represent critical approvals in the permitting process and major de- risking milestones for the Project.
“The delay in ratification has impacted the offiake process and MIIF’s investment already and has forced us to make cuts to staff numbers and expenditure across various non-essential departments. Nevertheless, we remain confident in our ability to drive the Project through these headwinds towards construction and operation. We now await the ratification of the Mining Lease by Ghana’s parliament, which will enable us to move the Project towards Project FID.
“The parliamentary process is playing out in the public domain as we speak, and we appreciate shareholders’ patience as these developments unfold. We are prepared for all eventualities and will update shareholders as appropriate. In the meantime, we are continuing activities within our control to advance the Project.
“We are also pleased to have reported an increase to the Ewoyaa Mineral Resource to 36.8Mt at 1.24% Li2O1 during the period. Despite the drilling programme being focused on supporting our mine build activities, we identified the Dog- Leg target, which contributed an additional circa 891,000 tonnes to the enlarged Resource1. We believe that Ewoyaa holds significant potential for further resource increases. Our current focus, however, remains firmly on bringing the Project to production, which we consider to be the greatest driver of value for shareholders.
“With significant milestones in the advancement of the Project ahead, the coming period is set to be hugely important for the Company.
“We look forward to providing further updates in due course.”
Click here for the full ASX Release
This article includes content from Atlantic 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.
Keep reading...Show less
24 October
Top 3 ASX Lithium Stocks of 2024
Global demand for lithium-based power presents a significant opportunity for Australia, the top lithium-producing nation.
As countries and companies establish their positions in the battery value chain, Australia has the ability to leverage its strong output and vast reserves to shape the industry landscape into the 2030s.
The future of lithium demand relies heavily on the growth of the electric vehicle (EV) market, and in recent years its rapid expansion has led to much higher mining of the commodity — so much so that the market has entered a surplus.
This oversupply kept lithium prices subdued in the first half of 2024, but experts continue to forecast a bright long-term outlook for the essential battery material as countries around the world pursue net-zero goals.
Continued consolidation through Q3 2024 led many analysts to declare that the market bottomed in July. Late in the 90 day session the lithium market began to see some price growth amid better than expected September EV sales.
Here the Investing News Network looks at the top three ASX-listed lithium companies by year-to-date gains. The list below was generated using TradingView’s stock screener on October 18, 2024, and includes companies that had market caps above AU$10 million at that time. Read on to learn more about their activities over the past year.
1. Ioneer (ASX:INR)
Year-to-date gain: 73.33 percent
Market cap: AU$572.84 million
Share price: AU$0.26
Australia-listed Ioneer owns the Rhyolite Ridge lithium-boron project in Nevada, US. The project is considered the “sole lithium-boron deposit in North America.”
As part of the permitting process for the Rhyolite Ridge project, Ioneer completed and submitted the administrative draft environmental impact statement (EIS) to the US Bureau of Land Management (BLM) in mid-January. In mid-September, Ioneer announced that the BLM published the final EIS, moving the company closer to building its Rhyolite Ridge lithium-boron project.
According to the company, the milestone now makes Rhyolite Ridge the first lithium project under the Biden Administration to reach the advanced stage of the environmental permitting process.
“Since Ioneer’s work at Rhyolite Ridge began in 2016, we have listened to members of the community and adapted our plans to maximize the project’s many economic benefits while minimizing indirect impacts to the community and environment. Rhyolite Ridge is stronger because of the extensive collaboration and input from all involved stakeholders,” said Bernard Rowe, managing director at Ioneer.
2. Vulcan Energy Resources (ASX:VUL)
Year-to-date gain: 63.45 percent
Market cap: AU$920.24 million
Share price: AU$4.74
Europe-focused Vulcan Energy Resources aims to support a carbon-neutral future by producing lithium and renewable energy from geothermal brine. The company is currently developing the Zero Carbon lithium project in Germany's Upper Rhine Valley. Vulcan is utilising a proprietary alumina-based adsorbent-type direct lithium extraction process to produce lithium with an end goal of supplying sustainable lithium for the European EV market.
On April 11, Vulcan announced the commencement of lithium chloride production at its lithium extraction optimisation plant in Germany. According to the company, the milestone marks the first lithium chemical production in Europe using local supply. The plant consistently exhibited over 90 percent lithium extraction efficiency.
Vulcan will now prepare the 40 million euro facility for commercial production. The company already has binding lithium offtake agreements in place with major automakers and battery manufacturers, and expects to supply enough lithium for 500,000 EVs during the first phase of production.
During the third quarter, Vulcan received its first licenses for lithium and geothermal exploration in Alsace, France. The permits cover 463 square kilometres, expanding Vulcan's total licensed area in the Upper Rhine Valley to 2,234 square kilometres across France and Germany.
In early August, Vulcan began commissioning its downstream lithium hydroxide optimisation plant (CLEOP) near Frankfurt.
“In the coming months, Vulcan will begin to transport the first LiCl parcels from our upstream facility through to CLEOP for production of the first battery-grade lithium hydroxide products in Europe, all from a European lithium resource,” Vulcan CEO and Managing Director Cris Moreno said.
A mid-October release from Vulcan outlined a memorandum of understanding with industrial software designer AVEVA. The partnership will see AVEVA build a digital framework for Vulcan’s Zero Carbon lithium project.
3. Cygnus (ASX:CY5)
Year-to-date gain: 3.7 percent
Market cap: AU$53.17 million
Share price: AU$0.14
Cygnus Metals is an exploration company focused on advancing its Pontax, Auclair and Sakami lithium projects in the Eeyou Istchee James Bay lithium district of Québec, Canada. The company also owns rare earth element, lithium and base metal projects in Western Australia.
In July, Cygnus reported the completion of geophysical survey work at the Auclair lithium project. The resulting data “identified significant potential for growth” in the Pegasus zone.
Most recently, Cygnus entered into an agreement to a merger of equals with Canadian copper company Doré Copper Mining (TSXV:DCMC,OTCQB:DRCMF), which owns several copper assets in Québec. The statement says the merger creates “a Québec-focused critical minerals explorer and developer with high-grade copper and lithium resources."
“By combining the proven exploration and management skills of the Cygnus team with the high-grade copper resources and immense upside potential at the Chibougamau properties, we have the potential to unlock substantial value,” said David Southam, Cygnus’ executive chairman.
FAQs for investing in lithium
What is lithium?
Lithium is the lightest metal on the periodic table, and it is used in a wide variety of applications, including lithium-ion batteries, pharmaceuticals and industrial applications like glass and steel.
How do lithium-ion batteries work?
Rechargeable lithium-ion batteries work by using the flow of lithium ions in the battery's cell to power a device.
A lithium-ion battery has one or more cells, depending on the amount of energy storage it is capable of, and each cell has a positive electrode and negative electrode with an electrolyte separating them. When the battery is in use, lithium ions flow from the negative electrode to the positive electrode, running out of power once all have transferred. When the battery is charging, ions flow the opposite way.
Where is lithium mined?
Lithium is mined from two types of deposits, hard rock and evaporated brines. Most of the world's lithium production comes out of Australia, which hosts the Greenbushes hard-rock lithium mine. The next-largest producing country is Chile, which like Argentina and Bolivia is located in South America's Lithium Triangle.
Lithium in this famed area comes from evaporated brines, including the Salar de Atacama. Lithium can also be found in sedimentary deposits, but currently none are producing.
Where is lithium found in Australia?
Australia is the world’s top producer of lithium, and its lithium mines are all located in Western Australia except for one, which is Core Lithium’s (ASX:CXO,OTC Pink:CXOXF) Finniss mine in the Northern Territory. Western Australia accounts for around half of global lithium production, and the state is looking to become a hub for critical elements.
Who owns lithium mines in Australia?
Several companies own lithium mines in Australia, including some of the biggest ASX lithium stocks. In addition to the entities discussed above, others include: Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) with its Pilgangoora operations; Arcadium Lithium with the Mount Cattlin mine; Jiangxi Ganfeng Lithium (HKEX:0358), which owns the Mount Marion mine alongside Mineral Resources (ASX:MIN,OTC Pink:MALRF); and Tianqi Lithium (SZSE:002466), which is a partial owner of Greenbushes via its stake in operator Talison Lithium.
Who is Australia’s largest lithium producer?
Australia’s largest lithium producer is Albemarle (NYSE:ALB), which has interests in both the Greenbushes and Wodgina hard-rock lithium mines. Greenbushes is the world’s largest lithium mine, and Albemarle holds 49 percent ownership of operator Talison Lithium’s parent company.
Albermarle also has 60 percent ownership of Mineral Resources’ Wodgina mine, and owns the Kemerton lithium production facility as part of a 60/40 joint venture with Mineral Resources.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Georgia Williams, currently hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.