
October 08, 2024
Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, and KMX Technologies, Inc. (“KMX”) announced that it has entered into a 90-day exclusivity period during which Stardust Power and KMX will negotiate the terms and conditions related to Stardust Power’s exclusive use of lithium brine concentration technology from KMX (the “Licensing Arrangement”). The transaction is subject to the negotiation and execution of definitive documentation and the parties’ mutual board approvals.
This important technology would allow Stardust Power to potentially lower operating costs and capital expenditures across its supply chain, including at its 50,000 metric tons per annum battery-grade lithium refinery under development in Muskogee, Oklahoma, while also potentially reducing the energy and carbon intensity of the refining process. A definitive agreement could give Stardust Power exclusive use of the technology for lithium in the United States and Canada, as well as certain other jurisdictions around the world.
Stardust Power remains focused on increasing its sustainability and recycling water following commencement of its operations. KMX’s unique technology, known as vacuum membrane distillation (“VMD”), uses hydrophobic membranes to separate lithium while creating a high quality water as its byproduct. This process is less costly and potentially less energy-intensive than many competing solutions. The distilled quality water can also be used by lithium project developers as part of their direct lithium extraction washing process, in lieu of tapping sparse local freshwater resources and other uses.
Stardust Power’s Chief Executive Officer and Founder, Roshan Pujari, commented: “Creating battery-grade lithium requires energy and water, and KMX’s technology is highly efficient on both fronts. Their VMD technology produces an extremely high-quality concentrate with significantly improved water recycling. Following the execution of definitive documentation, Stardust Power would intend to deploy this technology across the supply chain at its Oklahoma refinery, when it is put into operation, and at upstream sites. This is another step forward for Stardust Power, leading at the forefront of sustainability within the U.S. lithium supply chain.”
Zachary Sadow, KMX Chief Executive Officer, said, “We are proud to partner with Stardust Power, pioneers in the critical mineral industry, as they build out the North American lithium supply chain.”
KMX’s lithium concentration technology has been publicly validated by the Canadian government, showing its ability to concentrate lithium without significant losses, generating substantially enhanced project economics.
About Stardust Power Inc.
Stardust Power is a developer of battery-grade lithium products designed to supply the electric vehicle (EV) industry and bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.” For more information, visit www.stardust-power.com
Stardust Power Contacts
For Investors:
Johanna Gonzalez
investor.relations@stardust-power.com
For Media:
Michael Thompson
media@stardust-power.com
About KMX Technologies
KMX Technologies is solving the most critical environmental and energy challenges of the 21st century. Through its proprietary membrane distillation technology, the company sustainably sources critical minerals necessary for next generation supply chains and infrastructure, is advancing wastewater treatment, and is accelerating energy storage with its direct lithium recovery enhancement processes.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements.” Such forward-looking statements are often identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “forecasted,” “projected,” “potential,” “seem,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the negotiation and execution of definitive documentation regarding the Licensing Arrangement, the ability of Stardust Power to realize the anticipated benefits of KMX’s technology, the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.
Stockholders and prospective investors should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC.
Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.
The Conversation (0)
13 January
Stardust Power
Stardust Power is developing a strategically centrally located lithium refinery with the capacity to produce 50,000 tons per annum of battery grade lithium carbonate. We enjoy a diversified supply of lithium from American brine sources. Our team is comprised of industry experts augmented by best in class technology partners and advisors. We are committed to sustainability at each point of the process.
Stardust Power is developing a strategically centrally located lithium refinery with the capacity to produce 50,000 tons per annum of battery grade lithium carbonate.
9h
UPS Batteries For Explosive (EX & ATEX) Environments
01 October
Lithium Americas and GM Advance Thacker Pass with Landmark Federal Funding
Developer Lithium Americas (TSX:LAC,NYSE:LAC) has reached an agreement with General Motors (NYSE:GM) and the US Department of Energy (DOE) to unlock the first US$435 million installment of a landmark federal loan for its Thacker Pass lithium project in Nevada.
The company confirmed on Wednesday (October 1) that the DOE will receive warrants giving it a 5 percent equity interest in Lithium Americas and a parallel 5 percent economic interest in the Thacker Pass joint venture with GM.
The arrangement is part of the terms for advancing the first tranche of a US$2.23 billion federal loan approved in 2024 to finance construction of the project, which is set to be the largest source of lithium in the western hemisphere.
The DOE also agreed to defer US$182 million of debt service over the first five years of the loan, while Lithium Americas will post an additional US$120 million into reserve accounts within a year of the funds being drawn.
Located about 25 miles south of the Oregon border, Thacker Pass has been cast as central to Washington’s push to cut reliance on Chinese-controlled processing and narrow the gap with global lithium producers in Australia and Chile.
Phase 1 of the project is designed to produce 40,000 metric tons of battery-grade lithium carbonate annually — enough to support roughly 800,000 electric vehicles. At present, US domestic lithium output is negligible, limited to Albemarle's (NYSE:ALB) Silver Peak operation in Nevada, which produces fewer than 5,000 metric tons a year.
By comparison, China processes more than three-quarters of the world’s raw lithium into battery-grade material.
Washington’s share finalized
The DOE stake comes after weeks of speculation over the size of Washington’s equity interest.
In late September, sources familiar with the matter said Trump administration officials had pressed for up to 10 percent, with Lithium Americas countering by offering no-cost warrants for 5 to 10 percent of its shares.
The final agreement settled at the low end of that range. The warrants issued to DOE will allow the department to appoint an observer to the joint venture’s board meetings for as long as it retains its economic stake.
If exercised in full, the ownership structure of Thacker Pass will be 59 percent Lithium Americas, 36 percent GM and 5 percent DOE. Voting control will remain split 62 percent to Lithium Americas and 38 percent to GM.
“We greatly appreciate the support of the Administration, General Motors and our partners in advancing this vital world-class project,” said Jonathan Evans, president and CEO of Lithium Americas.
“Together, we are onshoring large-scale US lithium production, strengthening America’s supply chain, creating exceptional jobs and enhancing our long-term energy security and prosperity”
For Washington, the agreement marks the latest in a series of moves by the Trump administration to take minority positions in companies deemed critical to US industrial and national security interests.
US Secretary of Energy Chris Wright said in a statement that the Thacker Pass deal “helps reduce the country’s dependence on foreign adversaries for critical minerals by strengthening domestic supply chains.”
Shares of Lithium Americas surged more than 30 percent in pre-market trading on Wednesday following the announcement, extending a rally that began last month when reports of a potential federal equity stake first surfaced.
Lithium Americas performance, September 2 to October 1, 2025.
Chart via Google Finance.
The stock spiked more than 90 percent in late September after Reuters reported on the Trump administration’s push for ownership, jumping from about US$3 to over US$6.
Construction at Thacker Pass is already underway, with more than 600 contractors on site. The mine and processing plant are expected to reach full commercial output in 2028.
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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26 September
Top 5 Canadian Mining Stocks This Week: Lithium Americas Jumps 126 Percent
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
Statistics Canada released its natural resource indicators report for the second quarter of 2025 on Thursday (September 25), which includes real gross domestic product (GDP), export and import data for Canadian resources.
According to the announcement, the real GDP for the sector decreased by 2.4 percent during the quarter, following a 1.8 percent rise in the first quarter, and outpaced the 0.4 percent decline in the broader Canadian economy.
Forestry saw the most significant decline, with real GDP falling by 4.9 percent; however, declines were felt throughout the sector. Real GDP of the energy sector dropped 2.5 percent, led by refined petroleum products decreasing 7.4 percent and electricity decreasing 3.5 percent. Minerals and mining decreased 1.2 percent, with primary metallic mineral products dropping the most in the category at 3.7 percent.
Exports declined by 6.6 percent, with forestry again registering the largest decrease at 15.5 percent, followed by energy decreasing 5.9 percent and minerals and mining dropping 4 percent. The reporting agency noted that declines coincided with increased tariffs on goods, especially steel and aluminum, entering the United States.
Meanwhile, imports increased by 6.6 percent during the quarter, following a 2.9 percent rise in the first quarter, and were mainly attributable to a 17.3 percent increase in mineral and mining imports, which included a 35.4 percent rise in metallic mineral products.
In major mining news this week, Freeport-McMoRan (NYSE:FCX) announced on Wednesday (September 24) that the closure of its Grasberg operations in Indonesia would be extended. The closure came after 800,000 metric tons of liquid materials entered its main Grasberg block cave on September 8, trapping seven workers. So far, the bodies of two workers have been recovered, and the remaining five workers are still missing.
Operations at two underground mines that were unaffected by the accident should restart mid-way through the fourth quarter, according to the company, but operations at the Grasberg block cave will not return to full production until at least 2027.
Grasberg is among the largest copper and gold mines in the world, contributing 1.7 billion pounds of copper and 1.4 million ounces of gold annually.
The announcement caused copper prices to surge by 5 percent in trading on Wednesday to US$4.84 per pound on the COMEX. Meanwhile, shares in Freeport tumbled by 16.95 percent to US$37.67 that day, and fell another 6 percent to US$35.46 on Thursday.
For more on what’s moving markets this week, check out our top market news round-up.
Markets and commodities react
Canadian equity markets were in positive territory this week by the end of trading Thursday.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) set another new record high this week, climbing above the 30,000 mark for the first time on Tuesday before retreating to close Thursday at 29,731.98. The S&P/TSX Venture Composite Index (INDEXTSI:JX) performed even better, peaking at 929.64 Tuesday and ending the week at 920.18. For its part, the CSE Composite Index (CSE:CSECOMP) peaked on Wednesday at 168.38, but retreated to end Thursday at 163.31.
The gold price continued to climb this week, setting another new record, as it achieved an intraday high of US$3,788 per ounce on Tuesday. While the price retreated slightly, it was still up 1.7 percent on the week at US$3,749.21 by Thursday's close.
The silver price saw more significant gains, rising 8.14 percent to set a year-to-date high of US$45.19 per ounce at 4 p.m. EST Thursday. The silver price is trading at 14 year highs and has been closing in on its record US$47.91 set in March 2011.
Copper had sizable gains this week on the news of the closure of Freeport’s Grasberg mine discussed above. The copper price was up 5 percent on Wednesday, but shed some gains Thursday to end the day with a weekly gain of 4.12 percent to US$4.80 per pound. The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) gained 1.54 percent gain to end Thursday at 558.11.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EDT on Thursday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Lithium Americas (TSX:LAC)
Weekly gain: 126.93 percent
Market cap: C$2.02 billion
Share price: C$9.94
Lithium Americas is a lithium development company focused on advancing its flagship Thacker Pass project in Nevada, US, which is considered a critical component of the US’s domestic lithium supply chain.
The project is a 62/38 joint venture between Lithium America and General Motors (NYSE:GM), with the latter investing US$625 million in the project last year for its stake. The companies are currently working to advance Phase 1 of the project into production, targeting a capacity of 40,000 metric tons per year of battery-quality lithium carbonate. First production is expected in Q4 2027, and GM has the right to buy all Phase 1 lithium production.
Shares in the company surged this week following news reports on the status of a US$2.26 billion loan from the US Department of Energy (DOE). On Tuesday, Reuters reported that the White House is seeking an equity stake of up to 10 percent in Lithium Americas as it renegotiates the terms of the loan. The company had planned to make its first draw from the loan this month, according to Reuters' sources.
On Wednesday, Lithium Americas noted its rising share price in a press release about the situation. The company stated it was continuing to work with the DOE and General Motors to reach a mutually agreeable resolution regarding the first draw of the loan and potential amendments, noting discussions also included the topic of "corresponding consideration," or fair compensation, for the lithium company.
2. Scandium Canada (TSXV:SCD)
Weekly gain: 75 percent
Market cap: C$20.09 million
Share price: C$0.07
Scandium Canada is a scandium exploration company working to advance its Crater Lake scandium project in Northern Québec, Canada. The property consists of 96 contiguous claims covering an area of 47 square kilometers. To date, the company has identified five primary zones of interest at Crater Lake.
An updated mineral resource estimate released on May 12 demonstrated an indicated resource of 16.3 million metric tons of ore at an average grade of 277.9 grams per metric ton (g/t) scandium oxide, plus an inferred resource of 20.9 million metric tons at 271.7 g/t. The MRE also included grades of other rare earths at the project.
Gains in Scandium Canada’s share price began when trading opened Tuesday, the day after Reuters reported on White House plans to source scandium oxide from Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), which produces scandium oxide from its facility in Québec.
The company's shares continued rising throughout the week. On Wednesday, Reuters reported that the Group of Seven nations is discussing instituting rare earth price floors as a means to increase rare earth production in their countries to counter China’s dominance. The considerations follow the G7 leaders' announcement of a critical minerals action plan in June, which aims to strengthen the Western supply of critical minerals.
In company news, on Thursday Scandium Canada announced an update on advancements for its proprietary aluminum-scandium alloys, which it is aiming to commercialize.
3. Sendero Resources (TSXV:SEND)
Weekly gain: 64.58 percent
Market cap: C$14.74 million
Share price: C$0.79
Sendero Resources is a copper and gold exploration company focused on its Peñas Negras copper-gold project located along the border between Chile and Argentina in the Vicuña mining district.
Vicuña is home to several significant operations, including the Josemaria and Filo del Sol copper-gold mines, which are 50/50 joint ventures between Lundin Mining (TSX:LUN) and BHP Group (ASX:BHP,NYSE:BHP,LSE:BHP).
Peñas Negras covers an area of 211 square kilometers in Argentina's portion of the district and bears geological similarities to the aforementioned deposits, according to Sendero.
Shares in the company were up this week, but the company has not released news since July 21, when it reported granting stock options to company employees and consultants.
4. Tincorp Metals (TSXV:TIN)
Weekly gain: 58.82 percent
Market cap: C$14.65 million
Share price: C$0.27
Tincorp Metals is a mineral exploration company with a pair of tin assets in Bolivia, and also owns a gold project in the Yukon, Canada.
Its SF Tin project covers a 2 square kilometer area in the Potosí Department of West-central Bolivia. The site hosts a historical open-pit mine and was previously explored by Rio Tinto in the 1990s. Tincorp's 2022 exploration program encountered a highlighted intercept of 0.20 percent tin, 0.94 percent zinc, 0.17 percent lead and 24.01 g/t silver over 182.6 meters.
The company’s Porvenir project is an 11.25 square kilometer property in Western Bolivia that hosts historical open-pit and underground mining operations. Its exploration of the site in 2023 encountered a highlighted intercept with 0.65 percent tin, 1.97 percent zinc, 4 g/t silver and 0.10 percent copper over 21.2 meters.
The most recent news from Tincorp came on September 17 when it announced it had closed on a non-brokered private placement for 3 million common shares for gross proceeds of C$375,000. The company said it intends to use the net proceeds for working capital requirements and corporate purposes.
5. Wealth Minerals (TSXV:WML)
Weekly gain: 58.33 percent
Market cap: C$56.41 million
Share price: C$0.19
Wealth Minerals is a lithium exploration and development company with several Chilean lithium brine assets. Much of its news in Q2 and Q3 has been about advancing its Kuska project in the Salar de Ollagüe. The Kuska project covers 10,500 hectares in the Antofagasta region near the Bolivian border.
In May, the company created the Kuska Minerals 95/5 joint venture with the Quechua Indigenous Community of Ollagüe for the Kuska project.
A February 2024 preliminary economic assessment (PEA) for Kuska demonstrated an indicated resource of 139,000 metric tons of contained lithium from 8 million cubic meters of brine with an average grade of 175 milligrams per liter lithium. The report also demonstrated a post-tax net present value of US$1.15 billion, with an internal rate of return of 28 percent and a payback period of 6.9 years.
In September 2024, the Chilean government selected the Salar de Ollagüe to be among the first group of six salars considered for production licenses. Wealth applied for a special lithium operation contract (CEOL) for Kuska, but was denied due to not meeting the criteria of 80 percent ownership of the area designated by Chile, referred to as a polygon, that contained its concessions.
On Tuesday, the company reported that the Chilean government has reopened applications after simplifying the process for assigning a CEOL with revised requirements. During consultation with the local Indigenous communities, the ministry agreed to exclude "the areas of greatest cultural interest to Indigenous communities and the populated areas that were part of the polygon." Wealth Minerals is now verifying it meets all conditions before reapplying.
The following day, Wealth announced that it had entered into a letter agreement to acquire the past-producing Andacollo Oro Gold project in Chile. The project has historic measured and indicated resources of 2.02 million ounces of gold from 130 million metric tons with a grade of 0.48 g/t.
According to the company, it believes the acquisition is the right choice for shareholders as it expects the drivers of the current investment interest in gold, namely worry about monetary and fiscal policies, to remain unchanged.
Additionally, in connection with the transaction, the company announced it was opening a non-brokered private placement for a minimum of 41.67 million shares with the intention of raising gross proceeds of C$5 million.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.
Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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24 September
Lithium Americas Shares Spike as Trump Admin Seeks Equity Stake
The Trump administration is pressing for up to a 10 percent equity stake in Lithium Americas (TSX:LAC,NYSE:LAC) as it renegotiates the terms of a US$2.26 billion loan tied to the Thacker Pass project.
Two people familiar with the talks told Reuters on Tuesday (September 23) that the stake was proposed by the US government during recent discussions over adjustments to the loan’s repayment structure.
In response, Lithium Americas offered the government no-cost warrants equivalent to 5 to 10 percent of its common shares, along with funds to cover administrative costs tied to the changes. The company had requested changes to the amortization schedule, but not to the overall repayment timeline or interest owed.
The request marks the latest instance of the Trump administration intervening directly in strategic sectors.
The White House has previously pursued similar arrangements with Intel (NASDAQ:INTC), MP Materials (NYSE:MP) and other firms considered vital to national security. “President Trump supports this project. He wants it to succeed and also be fair to taxpayers,” a White House official told Reuters. “But there’s no such thing as free money.”
Located about 25 miles south of Nevada’s border with Oregon, Lithium Americas says Thacker Pass is set to become the western hemisphere’s largest lithium source once fully operational. Phase 1 is designed to produce 40,000 metric tons of battery-grade lithium carbonate per year, enough for roughly 800,000 electric vehicles.
Full commercial output is scheduled for 2028, following the completion of the processing plant and mine infrastructure; construction is already underway, with more than 600 contractors on site.
The scale of production would dwarf current US lithium output. At present, the country produces fewer than 5,000 metric tons annually from Albemarle's (NYSE:ALB) Silver Peak facility in Nevada.
By contrast, global leaders Australia and Chile dominate mining, while China exerts outsized control over refining, processing more than 75 percent of the world’s lithium into battery-ready material.
The project was approved in the closing days of Trump’s initial term and received final financing under the Biden administration in 2024, when the Department of Energy’s Loan Programs Office (LPO) closed the record US$2.26 billion loan.
General Motors (NYSE:GM), which invested US$625 million in Lithium Americas last year for a 38 percent stake, holds rights to purchase all of the mine’s Phase 1 lithium output and part of Phase 2 output for the next two decades.
Trump officials are now pressing for assurances that GM will uphold those commitments, and are also seeking to shift some project control away from the automaker and toward Washington, according to Reuters' sources.
For its part, Lithium Americas has stayed measured in its comments.
“We respect the LPO’s decision to pursue a restructure and remain in active discussions with the (Department of Energy) and our partner, GM, and will provide an update at the appropriate time,” the company said.
The reports of a potential government stake ignited trading activity. Shares of Lithium Americas jumped more than 90 percent in New York on Wednesday (September 24), climbing from about US$3 to as much as US$6.12.
Lithium Americas performance, September 19 to 24, 2025.
Chart via Google Finance.
GM shares also ticked higher, up about 2.5 percent in early trading.
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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24 September
Livium Extends Agreement with LG Energy Solution until 2029
Livium Ltd (ASX: LIT) ("Livium" or the "Company") is pleased to announce that its wholly owned subsidiary Envirostream Australia Pty Ltd (Envirostream) - a leading battery recycler - has signed a new agreement ("Agreement") with LG Energy Solution to recycle and process lithium-ion batteries (LIBs) in Australia. This new contract further extends the scope of services from the previously expanded contract signed in March 2024. The Agreement now encompasses recycling end-of-life residential battery units collected for normal service reasons.
HIGHLIGHTS
- Envirostream has signed a new three-year agreement with LG Energy Solution to provide battery recycling and disposal services, extending the contract to March 2029
- The new agreement maintains the scope and terms of the prior agreement' in all material respects, including exclusivity for recalled residential batteries defined under the prior agreement
- The new agreement also expands the scope of supply, on a non-exclusive basis, to include end-of-life residential lithium-ion batteries collected in Australia for normal service reasons
Now valid until March 2029, the extended Agreement gives Envirostream guaranteed volumes of batteries collected at end-of-life for general service reasons. Customary termination rights exist on the occurrence of an insolvency event or any unremedied breach under the Agreement. Under the Agreement, LG Energy Solution has a right to purchase black mass (mixed metal dust or MMD), at market prices, generated from lithium-ion batteries supplied to Envirostream.
The Agreement with LG Energy Solution directly aligns with Envirostream's strategic priorities for accelerated growth. By securing this long-term agreement, the company is solidifying its position within the high-growth, high-margin market of large-format lithium-ion batteries (LIBs) from electric vehicles (EVs) and energy storage systems (ESS). This move is a proactive step to capitalise on the anticipated surge in demand for recycling services, with industry reports forecasting robust growth in EV & ESS battery recycling demand over the remainder of the decade.
Furthermore, this contract embodies Envirostream's continued pursuit of delivering high-quality services to key industry leaders. The Company anticipates that this significant win will not only secure a consistent volume of high-value materials but also serve as a powerful testament to its capabilities, providing the momentum needed to attract and secure additional market-leading clients.
Comment from Livium CEO and Managing Director, Simon Linge
"This new agreement with LG Energy Solution is validation of the quality of Envirostream's service and strategic focus. By extending and expanding our successful relationship with a global leader like LG Energy Solution, we are not only securing a consistent, high-value supply of large-format batteries but also cementing our position as the go-to battery recycling partner in Australia. This contract is a direct result of our proven capabilities and our commitment to building a circular economy. We are perfectly positioned to capitalize on the growth of the EV and ESS markets, and we are confident this momentum will drive further partnerships with other market-leading clients in the future."
Comment from Managing Director of LG Energy Solution Australia Pty Ltd, Philip Crotty
"We are pleased to reaffirm and strengthen our relationship with Envirostream through this amended agreement. Over the course of our collaboration, we have achieved significant milestones in delivering safe, sustainable, and responsible battery management solutions. This renewed agreement not only reflects the trust and shared commitment between our organisations, but also paves the way for even greater cooperation in the years ahead. We look forward to continuing to work together to advance circular economy outcomes, support customers, and contribute to a cleaner energy future."
Click here for the full ASX Release
This article includes content from Livium, 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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18 September
Landsat Data Shaping Lithium-Mining Plans at Nevada’s Thacker Pass
A Nevada lithium project central to US efforts to secure domestic mineral supply is leaning on a half-century-old satellite program for modern answers.
The US Geological Survey’s (USGS) Landsat program, managed with NASA, has provided continuous Earth observations since 1972. Its freely available images allow scientists and industry leaders to measure landscape changes with precision.
In Northern Nevada, those insights are proving crucial as Lithium Americas (TSX:LAC,NYSE:LAC) works to advance Thacker Pass in a way that meets strict environmental and land-use standards.
“Landsat imagery is valuable for critical minerals project development because it provides consistent, long-term data that document land use changes and geological features, assess environmental receptors and support planning decisions,” said Alexi Zawadzki, president of North American operations for Lithium Americas, in a USGS report.
When planning began, Landsat data revealed that the original mine site overlapped with important sage-grouse habitat.
Although the bird is not a protected species, its sharp population decline since the 1960s has made it an indicator of ecosystem health in Nevada’s rangelands. The finding prompted developers to shift the project six miles south, away from prime territory.
Water use is another critical challenge faced by the project. Landsat data has been paired with field checks to estimate groundwater levels, using differences in vegetation to infer depth.
With this data, the Thacker Pass project aims to recycle processed water up to seven times and to operate as a “zero liquid discharge facility.”
Unlike traditional lithium brine operations, the project will extract lithium from clay deposits. Tailings will be stored in dry facilities and later reused for reclamation work.
Economic promise
Lithium Americas estimates construction of Thacker Pass could generate more than US$700 million annually and support 1,800 jobs. Once operational, economic activity linked to the mine could average US$2.1 billion per year, according to a University of Nevada, Reno, study.
Lithium is a cornerstone of batteries that power smartphones, laptops and electric vehicles. The US ranks third globally in known lithium resources but remains dependent on imports.
Due to the resource’ growing importance, developing domestic supply has become a matter of both industrial policy and national security.
Landsat’s value, is hardly confined to mining. A 2023 economic analysis placed its annual contributions to US industries at US$25.6 billion, spanning everything from gold exploration to reduced insurance costs for farmers.
For Thacker Pass, the test will come as mining gets underway. But for now, the view from space has already reshaped how the project is planned and envisioned moving forward.
By applying Landsat data, planners hope to show that resource extraction and environmental stewardship can advance together.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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