No thanks to Chinese company Gochin's lithium investment in Afghanistan. Pic: via Getty Images
Eye on Lithium: Afghanistan says ‘no’ to Chinese lithium investment
Mining
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- The Taliban has reportedly rejected a Chinese company’s US$10bn lithium investment
- Afghanistan has reportedly received multiple expressions of interest
- Latin Resource has more lithium hits at Colina
All your lithium news, Tuesday May 2.
The Taliban has said it is in no hurry to open up Afghanistan’s lithium resources to China.
China’s Gochin had reportedly offered to invest US$10bn in mining lithium and employing 120,000 people, both of which could play a critical role in reviving the country’s economy.
However, Arab News reported Ministry of Mines and Petroleum spokesman Hamayoon Afghan as saying that Afghanistan did not want to take “hurried steps and action in this regard”.
“It’s yet to be known when the contract will be signed and it’s not necessary for the contract to be signed only with China. We will consider our own benefits.”
While China could be interested in Afghanistan for potentially low cost lithium, the Taliban is clearly playing the long game and is reported to have received expressions of interest from a number of foreign companies in regards to investing in the country’s mining sector.
Concerns have also been raised about promises that lithium to China would be processed entirely in Afghanistan with some voicing scepticism that this would actually occur.
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | TODAY RETURN % | MARKET CAP |
|---|---|---|---|---|
| WCN | White Cliff Min Ltd | 0.008 | 14% | $6,713,381 |
| RMX | Red Mount Min Ltd | 0.004 | 14% | $7,951,479 |
| RGL | Riversgold | 0.018 | 13% | $15,127,483 |
| EFE | Eastern Resources | 0.011 | 10% | $12,419,465 |
| LSR | Lodestar Minerals | 0.0055 | 10% | $9,092,187 |
| LRD | Lordresourceslimited | 0.24 | 9% | $7,971,067 |
| LRD | Lordresourceslimited | 0.24 | 9% | $7,971,067 |
| CRR | Critical Resources | 0.053 | 8% | $78,142,989 |
| LIS | Lisenergylimited | 0.34 | 8% | $52,262,969 |
| EVR | Ev Resources Ltd | 0.014 | 8% | $12,167,793 |
| ZNC | Zenith Minerals Ltd | 0.155 | 7% | $50,997,376 |
| EG1 | Evergreenlithium | 0.425 | 6% | $22,492,000 |
| LRS | Latin Resources Ltd | 0.1325 | 6% | $316,040,198 |
| GL1 | Globallith | 1.485 | 6% | $299,508,425 |
| INR | Ioneer Ltd | 0.31 | 5% | $619,009,789 |
| DTM | Dart Mining NL | 0.062 | 5% | $10,077,243 |
| LKE | Lake Resources | 0.465 | 4% | $632,987,895 |
| MQR | Marquee Resource Ltd | 0.024 | 4% | $7,525,773 |
| TMB | Tambourahmetals | 0.125 | 4% | $4,943,112 |
| ALY | Alchemy Resource Ltd | 0.0145 | 4% | $16,493,068 |
| ESS | Essential Metals Ltd | 0.445 | 3% | $115,053,678 |
| LPI | Lithium Pwr Int Ltd | 0.31 | 3% | $188,729,268 |
| KOB | Kobaresourceslimited | 0.165 | 3% | $16,866,667 |
| MTM | MTM Critical Metals | 0.17 | 3% | $14,578,997 |
| VMC | Venus Metals Cor Ltd | 0.2 | 3% | $34,725,343 |
| ZEO | Zeotech Limited | 0.043 | 2% | $68,909,638 |
| DLI | Delta Lithium | 0.445 | 2% | $193,621,758 |
| M2R | Miramar | 0.046 | 2% | $3,515,478 |
| EUR | European Lithium Ltd | 0.095 | 2% | $138,499,243 |
| DAF | Discovery Alaska Ltd | 0.049 | 2% | $10,763,266 |
| LPM | Lithium Plus | 0.255 | 2% | $12,722,050 |
| NMT | Neometals Ltd | 0.625 | 2% | $339,935,823 |
| LTR | Liontown Resources | 2.73 | 1% | $5,957,812,055 |
| AKE | Allkem Limited | 12.02 | 0% | $7,651,897,032 |
| ADV | Ardiden Ltd | 0.007 | 0% | $18,818,347 |
| AGY | Argosy Minerals Ltd | 0.405 | 0% | $568,785,037 |
| 1MC | Morella Corporation | 0.009 | 0% | $54,887,224 |
| AML | Aeon Metals Ltd. | 0.023 | 0% | $25,217,214 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| INF | Infinity Lithium | 0.12 | 0% | $55,511,051 |
| JRL | Jindalee Resources | 2.13 | 0% | $122,217,198 |
| LPD | Lepidico Ltd | 0.01 | 0% | $76,377,717 |
| PSC | Prospect Res Ltd | 0.135 | 0% | $62,405,027 |
| RLC | Reedy Lagoon Corp. | 0.007 | 0% | $3,967,037 |
| BMM | Balkanminingandmin | 0.205 | 0% | $9,793,263 |
| AM7 | Arcadia Minerals | 0.2 | 0% | $9,339,578 |
| AS2 | Askarimetalslimited | 0.355 | 0% | $22,323,590 |
| BYH | Bryah Resources Ltd | 0.023 | 0% | $6,468,830 |
| EMS | Eastern Metals | 0.06 | 0% | $2,343,865 |
| CTN | Catalina Resources | 0.005 | 0% | $6,192,434 |
| TEM | Tempest Minerals | 0.018 | 0% | $9,122,790 |
| WML | Woomera Mining Ltd | 0.012 | 0% | $11,473,935 |
| AZL | Arizona Lithium Ltd | 0.043 | 0% | $115,711,526 |
| SCN | Scorpion Minerals | 0.072 | 0% | $24,890,846 |
| AZI | Altamin Limited | 0.078 | 0% | $30,553,907 |
| ENT | Enterprise Metals | 0.007 | 0% | $4,935,565 |
| KAI | Kairos Minerals Ltd | 0.022 | 0% | $43,210,057 |
| STM | Sunstone Metals Ltd | 0.031 | 0% | $81,233,839 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| CAI | Calidus Resources | 0.19 | 0% | $104,379,885 |
| MRR | Minrex Resources Ltd | 0.016 | 0% | $17,357,880 |
| A8G | Australasian Metals | 0.15 | 0% | $6,175,574 |
| SRZ | Stellar Resources | 0.012 | 0% | $12,055,571 |
| AOA | Ausmon Resorces | 0.004 | 0% | $3,877,157 |
| VKA | Viking Mines Ltd | 0.011 | 0% | $11,277,843 |
| IPT | Impact Minerals | 0.013 | 0% | $32,257,817 |
| SRI | Sipa Resources Ltd | 0.024 | 0% | $5,475,795 |
| EPM | Eclipse Metals | 0.015 | 0% | $30,420,897 |
| WC8 | Wildcat Resources | 0.029 | 0% | $19,198,659 |
| THR | Thor Energy PLC | 0.005 | 0% | $7,380,564 |
| YAR | Yari Minerals Ltd | 0.02 | 0% | $9,647,156 |
| MXR | Maximus Resources | 0.038 | 0% | $12,124,119 |
| MM1 | Midasmineralsltd | 0.165 | 0% | $9,426,741 |
| LLI | Loyal Lithium Ltd | 0.32 | 0% | $19,036,800 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| AUN | Aurumin | 0.03 | 0% | $5,932,746 |
| KTA | Krakatoa Resources | 0.033 | 0% | $11,991,427 |
| TYX | Tyranna Res Ltd | 0.025 | 0% | $60,160,633 |
| IR1 | Irismetals | 1.16 | 0% | $74,506,800 |
| LNR | Lanthanein Resources | 0.018 | 0% | $20,188,360 |
| DAL | Dalaroometalsltd | 0.065 | 0% | $1,941,875 |
| CY5 | Cygnus Metals Ltd | 0.25 | 0% | $46,781,053 |
| LLL | Leolithiumlimited | 0.52 | 0% | $513,061,594 |
| A11 | Atlantic Lithium | 0.59 | 0% | $359,452,579 |
| CMD | Cassius Mining Ltd | 0.017 | 0% | $6,944,379 |
| BUR | Burleyminerals | 0.3 | 0% | $18,424,306 |
| ENT | Enterprise Metals | 0.007 | 0% | $4,935,565 |
| FIN | FIN Resources Ltd | 0.015 | 0% | $8,918,030 |
| NIS | Nickelsearch | 0.092 | 0% | $5,566,499 |
| IGO | IGO Limited | 13.535 | 0% | $10,283,696,901 |
| CXO | Core Lithium | 0.95 | -1% | $1,774,883,538 |
| FRS | Forrestaniaresources | 0.0755 | -1% | $4,627,739 |
| EMH | European Metals Hldg | 0.61 | -1% | $77,418,636 |
| MIN | Mineral Resources. | 72.54 | -1% | $14,149,716,988 |
| PLS | Pilbara Min Ltd | 4.065 | -1% | $12,291,855,428 |
| CHR | Charger Metals | 0.495 | -1% | $21,857,184 |
| PNN | Power Minerals Ltd | 0.4 | -1% | $29,259,566 |
| MNS | Magnis Energy Tech | 0.1925 | -1% | $199,939,639 |
| AAJ | Aruma Resources Ltd | 0.07 | -1% | $11,144,267 |
| TUL | Tulla Resources | 0.335 | -1% | $109,413,361 |
| VUL | Vulcan Energy | 5.96 | -1% | $867,783,571 |
| NVA | Nova Minerals Ltd | 0.33 | -1% | $70,648,075 |
| RIO | Rio Tinto Limited | 110.55 | -2% | $41,672,732,184 |
| OCN | Oceanalithiumlimited | 0.315 | -2% | $12,024,480 |
| WES | Wesfarmers Limited | 51.21 | -2% | $59,035,645,854 |
| DRE | Dreadnought Resources Ltd | 0.06 | -2% | $202,076,421 |
| LM1 | Leeuwin Metals Ltd | 0.295 | -2% | $12,086,998 |
| PAT | Patriot Lithium | 0.255 | -2% | $15,830,751 |
| GLN | Galan Lithium Ltd | 1.01 | -2% | $316,122,867 |
| FBM | Future Battery | 0.1175 | -2% | $51,341,416 |
| SYA | Sayona Mining Ltd | 0.2 | -2% | $1,838,597,014 |
| MAN | Mandrake Res Ltd | 0.04 | -2% | $24,549,157 |
| EMC | Everest Metals Corp | 0.076 | -3% | $10,095,783 |
| GW1 | Greenwing Resources | 0.19 | -3% | $29,232,406 |
| EMC | Everest Metals Corp | 0.076 | -3% | $10,095,783 |
| TON | Triton Min Ltd | 0.036 | -3% | $57,770,157 |
| PGD | Peregrine Gold | 0.36 | -3% | $20,757,966 |
| LIT | Lithium Australia | 0.035 | -3% | $43,962,900 |
| FG1 | Flynngold | 0.07 | -3% | $7,406,895 |
| PL3 | Patagonia Lithium | 0.175 | -3% | $8,820,630 |
| GSM | Golden State Mining | 0.032 | -3% | $3,861,469 |
| GT1 | Greentechnology | 0.6 | -3% | $118,257,804 |
| PAM | Pan Asia Metals | 0.27 | -4% | $43,429,565 |
| BNR | Bulletin Res Ltd | 0.081 | -4% | $24,661,652 |
| LEL | Lithenergy | 0.6875 | -4% | $43,007,250 |
| QPM | Queensland Pacific | 0.12 | -4% | $218,293,490 |
| FTL | Firetail Resources | 0.096 | -4% | $7,700,000 |
| VSR | Voltaic Strategic | 0.024 | -4% | $7,682,505 |
| G88 | Golden Mile Res Ltd | 0.021 | -5% | $5,795,509 |
| MMC | Mitremining | 0.31 | -5% | $12,426,408 |
| RAS | Ragusa Minerals Ltd | 0.08 | -5% | $11,978,298 |
| TKM | Trek Metals Ltd | 0.06 | -5% | $22,928,540 |
| LRV | Larvottoresources | 0.295 | -5% | $20,848,964 |
| WR1 | Winsome Resources | 1.33 | -5% | $226,845,524 |
| ASN | Anson Resources Ltd | 0.175 | -5% | $225,954,875 |
| MLS | Metals Australia | 0.035 | -5% | $22,460,339 |
| QXR | Qx Resources Limited | 0.034 | -6% | $32,287,044 |
| NWM | Norwest Minerals | 0.034 | -6% | $8,905,364 |
| RAG | Ragnar Metals Ltd | 0.016 | -6% | $6,446,143 |
| PLL | Piedmont Lithium Inc | 0.8 | -6% | $370,026,045 |
| KZR | Kalamazoo Resources | 0.135 | -7% | $21,908,131 |
| LLO | Lion One Metals Ltd | 1.08 | -7% | $13,986,077 |
| KGD | Kula Gold Limited | 0.013 | -7% | $5,224,967 |
| AX8 | Accelerate Resources | 0.023 | -8% | $9,440,044 |
| IMI | Infinitymining | 0.155 | -9% | $13,001,314 |
| SGQ | St George Min Ltd | 0.041 | -9% | $37,822,975 |
| ARN | Aldoro Resources | 0.135 | -10% | $20,163,561 |
| TKL | Traka Resources | 0.007 | -13% | $6,938,634 |
| XTC | Xantippe Res Ltd | 0.003 | -25% | $42,320,399 |
Lithium trended down with 59 companies in the red while just 33 made gains. Another 57 companies were unchanged as the market absorbed the RBA’s decision to increase rates by 25 basis points.
WHO’S GOT NEWS OUT?
Here’s a selection of news out from lithium plays today.
Arcadia Minerals (ASX:AM7)
The company has defined a maiden resource of 13.7Mt grading 553 parts per million (ppm) Li2O for its Madube Pan, or contained resources of 40,375t of lithium carbonate equivalent.
This also resulted in the increase in overall contained resources at the interpreted dyke structures from 286,909t LCE to 327,284t LCE.
Arcadia noted that drilling had noted a clear trend that grade increases at depth while cyclone test work has been carried out on Madube Pan samples to determine potential for grade increase.
The company added that the overall resource defined to date covers just two of 14 known pans in the Bitterwasser Pan District.
Coolabah Metals (ASX:CBH)
Coolabah is the latest ASX junior to snap up lithium ground in the popular James Bay region of Quebec, Canada, acquiring four properties covering 113km2 about 20km from Patriot Battery Metals’ (ASX:PMT, TSX-V:PMET) Corvette project.
These include the Carmoy project, which targets interpreted dyke structures about 15km along strike to the northwest of Corvette.
It also acquired a 70km2 project in neighbouring Ontario about 70km from Frontier Lithium’s 58.4Mt at 1.5% Li2O project.
C29 Metals (ASX:C29)
Pilot plant test work at the University of Melbourne using Ekosolve direct lithium extraction technology has achieved 95.8% lithium extraction efficiency from brines sourced from C29 Metals’ Pocitos 7 project.
This is similar, and slightly better than previous brines tested from Pozuelos, Incahuasi and Pocitos salars with the company noting that it demonstrates that the extraction organic solvents have a good extractability for the lithium in the salt lake brine.
Lithium chloride produced using the process is now being processed to produce a battery-grade lithium carbonate product.
Latin Resources Limited (ASX:LRS)
Drilling at Latin Resources’ Colina deposit has returned assays such as 18.21m grading 1.9% Li2O from 212.72m and 16.12m at 1.55% Li2O from 302.69m in hole SADD089 and 15.42m at 1.48% Li2O from 288.64m and 12.65m at 1.44% Li2O from 327.04m in hole SADD088.
These results show that continuous high-grade pegmatites persist to the southwest while the broader program has proven that the extensive pegmatite system at the Colina deposit remains open in all directions.
Latin believes that its resource definition drilling program is on track for the planned mid-May cut-off for the Colina resource update, which is looking to be fairly substantial.
Power Minerals (ASX:PNN)
Power Minerals has secured a $2.6m strategic investment from Fuyang Mingjin New Energy Development to accelerate development of its Argentinian lithium assets.
Lithium sector investor Mingjin, which is also invested in companies such as Octavis Minerals and Patagonia Lithium, will subscribed for 6.5 million shares in the company at a placement price of 40c each to raise the funds.
This will give it a 8.6% stake in the company.
Stelar Metals (ASX:SLB)
Stelar has agreed to collaborate with SensOre, which has been granted NSW Government grant funding into lithium exploration research, to test new techniques at Stelar’s new Trident project in the state.
The two companies will use SensOre’s promising research to identify sources of economic lithium as part of a broader research program.
Trident, which was acquired by the company in February 2023, extends over the 15km long Euriowie Pegmatite Field that is prospective for hard-rock lithium mineralisation.
Mapped pegmatites vary in size but have been reported to be up to 100m wide and over 1km in length.
Venus Metals (ASX:VMC)
Highlighting the prospectivity of its Henderson nickel-lithium project, Venus Metals Corporation has signed a binding farm-in agreement with IGO.
Under the deal, IGO will acquire up to 70% in the project by incurring up to $4m in sole-funded exploration expenditure until the completion of a Pre-Feasibility Study and reimbursing Venus $1m for past costs.
Should IGO complete the PFS, it has the right to acquire Venus’ remaining 30% interest at a price based on fair market value less an apportioned aggregation of IGO’s expenditure incurred in relation to Henderson.
