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Lithium News

Pilbara Minerals pauses dividend, cuts capex as it targets $200m in savings

By: Mariaan Webb     22nd February 2024 Australia’s biggest pure-play lithium producer, Pilbara Minerals, has opted to withhold its interim dividend as the company moves to preserve its balance sheet strength in an environment of lower spodumene prices. In addition to the pausing the dividend payment, Pilbara has also lowered its 2023... 

Lithium producer IGO beats on profit, shares up

By: Reuters     22nd February 2024 Australia's IGO reported interim underlying profit ahead of analysts' expectation on Thursday, even as the battery metal producer reeled from falling prices of key commodities, and said it did not have plans to further trim production. Shares of IGO gained nearly 3% to A$7.27 by 23:38 GMT, while... 

Ivan Vella started as IGO CEO in December
Ivan Vella started as IGO CEO in December

Piedmont sells remaining Sayona stake

By: Mariaan Webb     21st February 2024 US-based lithium miner Piedmont Lithium on Wednesday announced that it would sell the rest of the shares it held in Australian miner Sayona Mining for A$59.9-million, or $39.4-million. The Nasdaq- and ASX-listed company agreed to sell 1.15-billion shares of Sayona for A$0.052 a share through a... 

Piedmont sells remaining Sayona stake

Sibanye incurs $2.58bn in impairments on lower metals prices

By: Tasneem Bulbulia     21st February 2024 Multinational mining and metals processing group Sibanye-Stillwater has incurred impairments of $2.58-billion, or about R47.45-billion, for the 2023 financial year, on the back of the deterioration in metals prices and certain operational factors. In a trading update ahead of the March 5... 

Sibanye CEO Neal Froneman
Sibanye CEO Neal Froneman

Sayona unveils feasibility results for ‘centrepiece’ Moblan lithium project

By: Creamer Media Reporter      20th February 2024 North American lithium producer Sayona Mining has announced feasibility study results that demonstrate the value of its Moblan lithium project, forming the centrepiece of the company’s Eeyou Istchee James Bay hub in northern Québec, Canada. Moblan, owned 60% by Sayona and 40% by Investissement... 

Sayona unveils feasibility results for ‘centrepiece’ Moblan lithium project

US moves to restore stockpiling ‘panic button’ in EV metals fight with China

By: Bloomberg     20th February 2024 Insiders liken it to a “panic button.” And for more than 80 years, the primary job of the National Defense Stockpile has been to keep the US military supplied with essential raw materials and protect against supply shocks. So when China surprised the markets by restricting exports of two niche... 

US moves to restore stockpiling ‘panic button’ in EV metals fight with China

Coal India to bid for 3 mines in critical minerals auctions in Feb

By: Bloomberg     19th February 2024 State-run Coal India will bid for three blocks in critical minerals auctions conducted by the country's mines ministry in February, chairman and MD P M Prasad told analysts in a post-earnings conference call on Monday. The world's largest miner has also visited lithium mines in Australia and is... 

Australian lithium stocks rally on speculation of China mine closure

By: Reuters     19th February 2024 Australian lithium stocks rallied on Monday on speculation that Chinese battery maker CATL had closed its Jianxiawo mine in China that produces the material used in electric vehicle batteries. Shares of Australia's biggest pure play lithium miner Pilbara Minerals rallied as much as 4.9% and... 

Australian lithium stocks rally on speculation of China mine closure

Nouveau Monde strikes supply deals with GM, Panasonic

By: Mariaan Webb     16th February 2024 Canadian miner Nouveau Monde Graphite (NMG) on Thursday announced an offtake agreement with General Motors (GM) and a commitment from the automotive giant to invest $150-million to support the development of what is projected to be the first fully integrated natural graphite active anode material... 

Aerial photo of the Bécancour industrial park showing NMG’s land for its Phase-2 Bécancour battery material plant.
Aerial photo of the Bécancour industrial park showing NMG’s land for its Phase-2 Bécancour battery material plant.

Exxon aims to make key lithium technology decision by year end

By: Reuters     16th February 2024 Exxon Mobil plans to decide by the end of the year which lithium filtration technology it will use in Arkansas as part of its push to become one of the world's top producers of the battery metal, an executive said on Thursday. The company last fall announced its long-anticipated plan to filter... 

Top lithium supplier Albemarle says prices are unsustainably low

By: Bloomberg     16th February 2024 Low lithium prices are “unsustainable” and will have to rise in order to trigger the supply investments needed to meet long-term demand growth, according to Albemarle, the world’s biggest producer. Lithium suppliers around the world are reining in spending and, in some cases, production after... 

Albemarle CEO Kent Masters
Albemarle CEO Kent Masters

Premier to raise £2.48m for its Zulu project

By: Tasneem Bulbulia     15th February 2024 Aim-listed Premier African Minerals intends to raise £2.48-million before expenses through a subscription to advance its Zulu lithium and tantalum project. “This placement assures Zulu of plant startup, subject only to suppliers meeting their obligations and undertakings. This has and remains... 

Lithium players to gather in Arkansas as low prices pressure industry

By: Reuters     15th February 2024 Exxon Mobil, Albemarle and others eyeing ways to tap Arkansas's vast lithium reserves will gather in Little Rock this week as the industry grapples with sagging prices for the battery metal that have spooked investors and fueled layoffs. More than 625 people - including policymakers, bankers and... 

Despite weak lithium prices, Albemarle beats on cost cuts

By: Reuters     15th February 2024 Albemarle, the world's largest lithium producer, posted a better-than-expected adjusted quarterly profit on Wednesday as aggressive cost cuts helped offset plunging prices for the metal used to make electric vehicle batteries. The slowing pace of EV adoption globally, combined with lithium... 

Despite weak lithium prices, Albemarle beats on cost cuts

IEA to launch security programme for minerals critical to energy sector

By: Reuters     14th February 2024 The International Energy Agency (IEA) is launching a programme to secure the supply of minerals critical to energy security, as demand rises fast while manufacturing remains in the hands of a few key producers, its executive director said on Tuesday. Fatih Birol said the production of electric... 

IEA executive director Fatih Birol
Photo by Bloomberg
IEA executive director Fatih Birol

Canada to accelerate critical mineral mining - Energy Minister

By: Reuters     14th February 2024 Canada plans to boost its energy security by slashing the time it takes to develop new critical mineral mines by nearly a decade with improved permitting processes, Energy Minister Jonathan Wilkinson told Reuters on Tuesday. Ottawa is focused on six critical minerals key to making electric... 

Energy Minister Jonathan Wilkinson
Energy Minister Jonathan Wilkinson

Azure scoops Craig Oliver award

By: Creamer Media Reporter      13th February 2024 Lithium exploration powerhouse Azure Minerals was awarded the Craig Oliver award at the RIU Explorers Conference in Fremantle on Tuesday. The award is dedicated to the former Sundance Resources director and prominent West Australian who died in a plane crash in West Africa nearly 15 years ago. 

Power aggregators seen as key accelerators of South African mining’s energy transition  

By: Martin Creamer     13th February 2024 Many energy projects selling to one buyer, who in turn sells to many mines – this procurement model is seen as a key financial tool to accelerate the energy transition of South Africa’s mining industry. “We think the aggregator model can really accelerate the requirements of the mines to get... 

Nedbank CIB) Energy Finance Co-Head Amith Singh.
Nedbank CIB Energy Finance Co-Head Amith Singh interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Sigma Lithium plans to invest $100m on new Brazil plant

By: Bloomberg     13th February 2024 Sigma Lithium, a leader in Brazil's budding lithium sector, said on Monday it planned to invest 492.4-million reais on a previously announced plant in the country, to be backed by financing from the national development bank. Sigma, a Vancouver, Canada-based company which mines and processes... 

Sigma Lithium plans to invest $100m on new Brazil plant

Valor options Frazer Lake lithium project in Canada

By: Creamer Media Reporter      13th February 2024 Australia-based Valor Resources, which will reposition as Thunderbird Resources over the next few months, has acquired a low-cost option over a portfolio of highly prospective lithium projects in Canada. The company in December announced the exclusive option agreement with Pegmatite One Lithium... 

Arizona’s Prairie pilot plant in final phase, performing well

By: Tasneem Bulbulia     12th February 2024 The direct lithium extraction (DLE) pilot plant at the Prairie project in Saskatchewan, Canada has processed more than 200 000 ℓ of brine, and has produced “exceptional” results during operations over the past three months, ASX-listed Arizona Lithium reports. The pilot plant is now in the final... 

Mining’s focus switching to critical minerals, with ESG pressures increasing

By: Rebecca Campbell     12th February 2024 The need to transform the global energy system and to cut carbon emissions, to counter the danger of climate change, is shifting the mining spotlight away from traditional high-value resources, such as gold and diamonds, to what are now being called “critical transition minerals”. So stressed... 

Anglo American, Finnish Minerals sign battery value chain agreement 

By: Schalk Burger     12th February 2024 Mining multinational Anglo American and Finnish State-owned mining company Finnish Minerals Group have signed a memorandum of understanding (MoU) to explore opportunities to further support the northern European country's battery strategy. As a Finnish state-owned company with a mandate to foster... 

Anglo American projects and development director Alison Atkinson.
Anglo American projects and development director Alison Atkinson.

EU, US to align global minerals push against China’s supply grip

By: Bloomberg     12th February 2024 The US and the European Union are in talks to merge a core area of their efforts to engage suppliers of critical minerals in resource-rich nations, seeking to streamline their push against China’s dominance in materials key for future technologies. The aim is to combine the EU’s high-level... 

EU, US to align global minerals push against China’s supply grip

Mandrake receives BLM permit for Utah lithium project

By: Creamer Media Reporter      9th February 2024 ASX-listed Mandrake Resources has received the required permitting form the US federal Bureau of Land Management (BLM) for the re-entry of two wells at the 379 km2 Utah lithium project, in the Paradox basin. BLM approval follows the submission by Mandrake of a detailed Notice of Intent submitted... 

Premier publishes new mineral resource estimate for Zulu project

By: Darren Parker     9th February 2024 Aim-listed Premier African Minerals has published a new South African Mineral Resource Committee- (Samrec-) compliant mineral resource estimate (MRE) for its wholly-owned Zulu lithium and tantalum project. The new MRE is concerned with those areas of the Zulu tenements that are expected to be... 

Portuguese prosecutors seek to annul environment permit for Savannah lithium mine

By: Reuters     9th February 2024 Portuguese prosecutors have asked a judge to annul an environment permit for a lithium mining project being developed by London-based Savannah Resources, alleging various legal infringements, a court document seen by Reuters showed. The document, filed by the Prosecutor's Office in December and... 

Portuguese prosecutors seek to annul environment permit for Savannah lithium mine

SQM launches third call for lithium accelerator programme

By: Creamer Media Reporter      8th February 2024 Chile’s SQM Lithium Ventures has launched the third generation of its corporate acceleration programme focusing on innovative start-ups offering solutions within the lithium industry. The acceleration programme will focus on proposals in three key verticals: Water, lithium and electromobility.  

SQM launches third call for lithium accelerator programme

High grades intersected in new NSW lithium province

By: Creamer Media Reporter      7th February 2024 ASX-listed Stelar Metals has intersected high-grade mineralisation in the initial reconnaissance drilling programme undertaken at the Trident lithium project, about 50 km from Broken Hill, in New South Wales. Trident was one of Australia’s first lithium mining provinces, comprising pegmatites... 

Pilbara extends Chengxin offtake agreement

By: Creamer Media Reporter      7th February 2024 Australian lithium producer Pilbara Minerals has extended its offtake agreement with integrated lithium chemicals producer Chengxin Group. Under the existing short-term agreement, signed in 2023, Pilbara will supply 70 000 t of spodumene concentrate from the Pilgangoora operation in the 2024... 

Pilbara extends Chengxin offtake agreement

Crucial to combine agricultural development with mining, Indaba hears 

By: Martin Creamer     7th February 2024 Africa is going to have a huge amount to do to help solve the world’s climate change problems, Toronto-listed Ivanhoe Mines executive chairperson Robert Friedland emphasised in his far-reaching thirtieth address to the thirtieth Investing in African Mining Indaba in Cape Town. In those 30... 

Ivanhoe Mines executive chairperson Robert Friedland.
Photo by Creamer Media
Ivanhoe Mines executive chairperson Robert Friedland.

Threat of climate change has transformed the image of mining

By: Rebecca Campbell     7th February 2024 The need to reduce global carbon emissions, to counter climate change, has transformed the public image of the mining industry, because of the urgent need to ramp-up the production of clean energy metals. So highlighted International Council on Mining and Metals (ICMM) CEO Rohitesh Dhawan,... 

ICMM CEO Rohitesh Dhawan
ICMM CEO Rohitesh Dhawan

Piedmont lays off 27% of staff as lithium prices fall sharply

By: Mariaan Webb     6th February 2024 US-based Piedmont Lithium, which has a joint venture (JV) operation in Canada and a lithium project in Ghana, has laid off 27% of its work force in a bid to curb operating expenses amid a sharp downturn in the lithium market. “These cost reductions, while difficult, are necessary to position the... 

Piedmont lays off 27% of staff as lithium prices fall sharply

Noise-induced hearing loss now highest priority mining health condition, Indaba hears 

By: Martin Creamer     6th February 2024 Noise-induced hearing loss has displaced tuberculosis (TB) and silicosis as the top priority health threat in the South African mining industry. “I’m emphasising noise-induced hearing loss because the other diseases have gone down markedly whereas noise-induced hearing loss has not gone down as... 

From left Minerals Council South Africa’s Sietse van der Woude, Dr Thuthula Balfour, Japie Fullard, Mzila Mthenjane and Dushendra Naidoo.
From left Minerals Council South Africa’s Sietse van der Woude, Dr Thuthula Balfour, Japie Fullard, Mzila Mthenjane and Dushendra Naidoo.

US DFC boosts Congo funding, bids to de-risk world's top cobalt supplier

By: Reuters     6th February 2024 The US International Development Finance Corporation (DFC) said it was scaling up financing and guarantees for mining projects in Democratic Republic of Congo, to help de-risk and unlock private sector investment in the world's top cobalt producer. The DFC could more than double its investment in... 

A cobalt mining operation in the DRC

Prairie drilling contractor appointed

By: Mariaan Webb     6th February 2024 ASX-listed Arizona Lithium has appointed Calgary-based Rhythm Engineering as drilling contractor for the Prairie lithium project, in Saskatchewan, Canada. MD Paul Lloyd says Arizona was impressed with the proposal from Rhythm and is confident that the contractor will complete the task with speed... 

South Africa’s mining industry now 39% black-owned, Mining Indaba hears 

By: Martin Creamer     5th February 2024 In 2004, the year South Africa’s far-reaching Mining Charter was first introduced, black ownership in South Africa’s globally recognised mining industry stood at a negligible 2%. This has now leapt nearly 20 times higher to approximately 39%, South Africa President Cyril Ramaphosa highlighted in... 

President Cyril Ramaphosa at the Mining Indaba.
President Cyril Ramaphosa at the Mining Indaba.

Germany to channel €1bn to critical raw material needs

By: Bloomberg     2nd February 2024 The German government earmarked about €1-billion ($1.1-billion) for raw materials investments as it seeks to reduce dependency on producers such as China for critical minerals in high-tech and green projects, according to people familiar with the plan. A selection process will be established to... 

A stockpile of lithium
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