Eye on Lithium: Australia downbeat on lithium price in 2024, but upbeat on demand

All your lithium news, Friday, July 7.

The famously conservative federal government says that while the value of Australian lithium exports is set to decline from its 2022–23 record, the long term outlook for lithium is that consumption will grow rapidly.

In the latest Resources and Energy Quarterly, Minister for Resources and Northern Australia Madeleine King said the value of lithium exports in 2022-23 almost quadrupled from the previous financial year, to over $19 billion in 2022-23.

It predicts value will decline to around $15 billion in 2024-25 as prices moderate. But it also expects demand to continue growing at a rapid rate.

“In lithium carbonate equivalent (LCE) terms, global lithium consumption is forecast to increase from 814 thousand tonnes (kt) to 1,350 kt over the outlook period (from 2022 to 2025),” the report stated.

“Lithium demand for rechargeable batteries continues to grow at a much faster pace than other sources of industrial demand for lithium.”

Battery demand for lithium is expected to maintain high growth, increasing by 22% per year over the 3 years to 2025.

Australia, Indonesia to cooperate on battery metals

Meanwhile the Indonesian and Australian government’s released a joint statement at their annual leaders meeting this week regarding their cooperation in the battery materials sector.

Indonesia aims to be in the world’s top five electric vehicle battery producers by 2040. To achieve this, it needs to secure access to other minerals, including lithium, of which Australian mines supply around half to the world.

In line with its commitment to the Paris Agreement, Indonesia has set a pretty ambitious target for its vehicle industry.

By 2025 it wants at a minimum of 20% of the cars it produces to be EVs. That equates to about 400,000 cars.

Indonesian government programs such as the Low-Cost Green Car incentives and Low-Carbon-Emission Vehicle regulations are attempting to drive this transition.

Australia and Indonesia are expected to sign an MOU that will fast track co-operation on the global battery and electric vehicle sector with this week’s communique including a commitment to pursue this goal.

Here’s how Aussie lithium stocks are tracking:

CODE	COMPANY	TODAY %	YTD %	PRICE	MARKET CAP
TMB	Tambourah Metals	66%	14%	0.24	$5,972,927
VMC	Venus Metals Cor Ltd	34%	8%	0.16	$22,535,721
XTC	Xantippe Res Ltd	25%	0%	0.0025	$22,960,199
AOA	Ausmon Resorces	17%	0%	0.0035	$2,907,868
EFE	Eastern Resources	10%	-2%	0.011	$12,419,465
DYM	Dynamic Metals	9%	0%	0.315	$10,150,000
TMX	Terrain Minerals	8%	0%	0.0065	$6,499,196
LRS	Latin Resources Ltd	8%	24%	0.34	$823,778,444
KAI	Kairos Minerals Ltd	7%	1%	0.03	$61,154,618
ALY	Alchemy Resource Ltd	7%	-1%	0.015	$16,493,068
EMS	Eastern Metals	7%	-1%	0.062	$3,859,310
ICL	Iceni Gold	6%	2%	0.1	$19,605,714
KGD	Kula Gold Limited	5%	0%	0.021	$7,464,238
MTM	MTM Critical Metals	5%	3%	0.105	$8,902,422
AX8	Accelerate Resources	5%	0%	0.022	$7,971,637
REC	Recharge Metals	4%	22%	0.355	$35,898,721
KZR	Kalamazoo Resources	4%	-9%	0.12	$17,836,453
LRV	Larvotto Resources	4%	-3%	0.135	$8,743,114
AUN	Aurumin	3%	-3%	0.03	$8,455,875
SLM	Solismineralsltd	3%	113%	1.2	$69,984,849
MLS	Metals Australia	3%	-1%	0.035	$21,217,230
M2R	Miramar	3%	-4%	0.037	$3,327,804
EUR	European Lithium Ltd	3%	3%	0.1025	$149,423,918
SRI	Sipa Resources Ltd	2%	-1%	0.0255	$5,703,953
NWM	Norwest Minerals	2%	0%	0.058	$15,825,167
SYA	Sayona Mining Ltd	1%	-1%	0.1825	$1,807,044,844
GL1	Globallith	1%	-19%	1.66	$424,926,514
LEL	Lithenergy	1%	4%	0.81	$82,923,050
ADV	Ardiden Ltd	0%	0%	0.007	$18,818,347
1MC	Morella Corporation	0%	0%	0.008	$48,788,644
AML	Aeon Metals	0%	-1%	0.017	$18,638,811
AVZ	AVZ Minerals	0%	0%	0.78	$2,752,409,203
JRL	Jindalee Resources	0%	1%	1.895	$108,733,141
LPD	Lepidico Ltd	0%	0%	0.012	$91,659,669
LPI	Lithium Pwr Int Ltd	0%	-13%	0.31	$195,063,644
PLL	Piedmont Lithium Inc	0%	22%	0.865	$331,167,413
QPM	Queensland Pacific	0%	-1%	0.1	$174,634,792
PSC	Prospect Res Ltd	0%	2%	0.14	$64,716,325
RLC	Reedy Lagoon Corp	0%	0%	0.007	$3,967,037
TKL	Traka Resources	0%	0%	0.01	$8,713,293
ARN	Aldoro Resources	0%	-4%	0.12	$16,130,849
AAJ	Aruma Resources Ltd	0%	-1%	0.044	$8,632,881
PAM	Pan Asia Metals	0%	-17%	0.245	$38,040,244
AM7	Arcadia Minerals	0%	-8%	0.13	$12,226,513
BYH	Bryah Resources Ltd	0%	-1%	0.015	$5,182,579
FRS	Forrestania Resources	0%	-3%	0.115	$10,182,425
GSM	Golden State Mining	0%	0%	0.039	$5,626,304
IMI	Infinitymining	0%	-15%	0.13	$9,942,181
MMC	Mitre Mining	0%	2%	0.3	$11,470,530
CTN	Catalina Resources	0%	-1%	0.003	$3,715,461
TEM	Tempest Minerals	0%	-1%	0.016	$8,109,146
WCN	White Cliff Min Ltd	0%	-1%	0.007	$8,100,530
WML	Woomera Mining Ltd	0%	-1%	0.013	$12,430,529
AZI	Altamin Limited	0%	0%	0.078	$30,553,907
ENT	Enterprise Metals	0%	-1%	0.005	$3,647,355
PGD	Peregrine Gold	0%	-10%	0.285	$15,989,244
AVW	Avira Resources Ltd	0%	0%	0.002	$4,267,580
A8G	Australasian Metals	0%	-7%	0.125	$6,515,062
SRZ	Stellar Resources	0%	0%	0.013	$13,077,535
LSR	Lodestar Minerals	0%	0%	0.005	$9,216,987
VKA	Viking Mines Ltd	0%	0%	0.013	$13,328,360
IPT	Impact Minerals	0%	1%	0.014	$39,825,854
RGL	Riversgold	0%	-1%	0.016	$15,220,183
RAS	Ragusa Minerals Ltd	0%	-5%	0.07	$9,981,915
EPM	Eclipse Metals	0%	0%	0.019	$38,533,136
THR	Thor Energy PLC	0%	0%	0.004	$5,840,051
YAR	Yari Minerals Ltd	0%	0%	0.016	$7,717,725
MXR	Maximus Resources	0%	-1%	0.033	$10,528,840
LLI	Loyal Lithium Ltd	0%	3%	0.32	$19,036,800
LRD	Lord Resources	0%	-8%	0.086	$3,193,362
WMC	Wiluna Mining Corp	0%	0%	0.205	$74,238,031
KTA	Krakatoa Resources	0%	0%	0.041	$14,898,440
TYX	Tyranna Res Ltd	0%	0%	0.026	$80,767,058
DAF	Discovery Alaska Ltd	0%	0%	0.029	$6,792,806
DAL	Dalaroo Metals	0%	-3%	0.071	$3,076,075
TKM	Trek Metals Ltd	0%	2%	0.1	$44,312,008
CY5	Cygnus Metals Ltd	0%	-8%	0.3	$66,981,161
TUL	Tulla Resources	0%	2%	0.35	$118,262,971
CHR	Charger Metals	0%	-9%	0.355	$17,382,351
RMX	Red Mount Min Ltd	0%	0%	0.004	$9,087,404
DLI	Delta Lithium	0%	43%	0.9	$468,820,643
LM1	Leeuwin Metals Ltd	0%	0%	0.41	$18,361,850
ENT	Enterprise Metals	0%	-1%	0.005	$3,647,355
FIN	FIN Resources Ltd	0%	0%	0.016	$9,896,566
NIS	Nickelsearch	0%	-10%	0.055	$5,239,320
EG1	Evergreen Lithium	0%	0%	0.34	$19,118,200
FBM	Future Battery	0%	6%	0.115	$49,202,190
LRD	Lord Resources	0%	-8%	0.086	$3,193,362
IEC	Intra Energy Corp	0%	0%	0.006	$4,234,690
MHK	Metalhawk.	0%	-4%	0.125	$8,366,924
RIO	Rio Tinto Limited	-1%	-468%	111.73	$41,791,521,372
LLL	Leo Lithium	-1%	64%	1.12	$1,115,575,523
VUL	Vulcan Energy	-1%	-206%	4.27	$721,215,147
ESS	Essential Metals Ltd	-1%	18%	0.5	$135,121,180
AGY	Argosy Minerals Ltd	-1%	-17%	0.4	$568,785,037
LTR	Liontown Resources	-1%	140%	2.715	$6,056,202,862
PNN	Power Minerals Ltd	-1%	-15%	0.385	$28,522,370
WR1	Winsome Resources	-1%	52%	1.745	$287,588,745
ANX	Anax Metals Ltd	-1%	2%	0.068	$28,248,243
MM1	Midas Minerals	-2%	13%	0.325	$24,238,306
AZS	Azure Minerals	-2%	139%	1.615	$639,987,158
BNR	Bulletin Res Ltd	-2%	-3%	0.064	$19,083,422
INR	Ioneer Ltd	-2%	-7%	0.315	$675,012,093
G88	Golden Mile Res Ltd	-2%	4%	0.056	$18,775,202
FG1	Flynn Gold	-2%	-5%	0.052	$7,202,474
AKE	Allkem Limited	-2%	468%	15.92	$10,355,567,317
ZEO	Zeotech Limited	-2%	0%	0.043	$75,060,615
WES	Wesfarmers Limited	-2%	150%	47.41	$55,021,312,655
IR1	Irismetals	-2%	52%	1.68	$137,135,600
EMC	Everest Metals Corp	-2%	13%	0.205	$27,180,953
EMH	European Metals Hldg	-2%	17%	0.81	$103,762,894
CAI	Calidus Resources	-3%	-8%	0.195	$121,522,032
CXO	Core Lithium	-3%	-10%	0.93	$1,774,883,538
AZL	Arizona Lithium Ltd	-3%	-3%	0.036	$101,738,038
PLS	Pilbara Min Ltd	-3%	118%	4.93	$15,200,810,529
NVA	Nova Minerals Ltd	-3%	-34%	0.345	$74,865,936
CRR	Critical Resources	-3%	1%	0.0515	$84,522,008
MIN	Mineral Resources	-3%	-924%	67.96	$13,613,645,080
NMT	Neometals Ltd	-3%	-32%	0.485	$276,370,588
LIT	Lithium Australia	-3%	-1%	0.032	$40,299,325
TON	Triton Min Ltd	-3%	0%	0.032	$51,524,735
KOB	Koba Resources	-3%	2%	0.16	$17,393,750
IGO	IGO Limited	-3%	158%	15.04	$11,752,796,458
ASN	Anson Resources Ltd	-3%	-3%	0.155	$199,468,597
WC8	Wildcat Resources	-3%	13%	0.155	$106,491,456
MNS	Magnis Energy Tech	-3%	-22%	0.15	$172,876,380
GLN	Galan Lithium Ltd	-3%	-20%	0.875	$304,908,442
DRE	Dreadnought Resources Ltd	-4%	-5%	0.055	$189,680,509
LIS	Lisenergy	-4%	-5%	0.27	$46,455,972
STM	Sunstone Metals Ltd	-4%	-1%	0.026	$83,213,592
OCN	Oceana Lithium	-4%	3%	0.37	$15,467,953
SGQ	St George Min Ltd	-4%	-2%	0.047	$41,185,017
A11	Atlantic Lithium	-4%	-10%	0.5225	$332,036,705
PMT	Patriot Battery Metals	-4%	94%	1.69	$579,433,774
GT1	Greentechnology	-4%	-16%	0.665	$148,019,378
SBR	Sabre Resources	-5%	0%	0.041	$12,533,906
AS2	Askari Metals	-5%	-13%	0.305	$21,846,545
VSR	Voltaic Strategic	-5%	6%	0.08	$31,034,451
LKE	Lake Resources	-5%	-52%	0.285	$426,733,412
MQR	Marquee Resource Ltd	-5%	0%	0.038	$13,228,300
LNR	Lanthanein Resources	-5%	0%	0.019	$22,431,511
MHC	Manhattan Corp Ltd	-5%	0%	0.0095	$29,362,787
MRR	Minrex Resources Ltd	-5%	-1%	0.018	$20,612,483
PAT	Patriot Lithium	-5%	0%	0.265	$17,188,501
FTL	Firetail Resources	-6%	-6%	0.099	$8,085,000
SCN	Scorpion Minerals	-6%	1%	0.081	$29,730,733
NKL	Nickelxltd	-6%	0%	0.08	$7,346,999
ZNC	Zenith Minerals Ltd	-6%	-18%	0.09	$33,828,565
TOR	Torque Met	-6%	-3%	0.15	$15,413,926
MAN	Mandrake Res Ltd	-6%	0%	0.044	$28,141,716
LLO	Lion One Metals Ltd	-7%	-31%	0.86	$12,450,216
CMD	Cassius Mining Ltd	-7%	2%	0.04	$21,359,313
LPM	Lithium Plus	-7%	-5%	0.32	$22,765,929
QXR	Qx Resources Limited	-8%	-2%	0.024	$23,318,420
EVR	Ev Resources Ltd	-8%	0%	0.012	$12,167,793
INF	Infinity Lithium	-9%	-2%	0.105	$53,198,091
DTM	Dart Mining NL	-9%	-2%	0.039	$7,408,351
PL3	Patagonia Lithium	-10%	0%	0.175	$9,555,683
BMM	Balkan Mining and Minerals	-10%	-12%	0.215	$11,465,283
RAG	Ragnar Metals Ltd	-11%	1%	0.024	$10,237,992
GW1	Greenwing Resources	-12%	-6%	0.22	$37,477,444
BUR	Burley Minerals	-12%	-4%	0.18	$15,297,060

Just 28 lithium stocks leapt in price today, 61 broke even and 74 dropped in price.

Who’s got news out?

GREENTECH METALS (ASX:GRE)

The explorer has pumped hard since mid-June – from 11c to 69c – on decent lithium rock chip assays from its Ruth Well project in the Pilbara.

GRE has encountered more high-grade lithium in rock chips – with a peak grade 1.8% LI2O – at Ruth Well, extending the mineralised zone at the Kobe prospect to an impressive 7.5km.

Test work carried out by Curtin University by way of XRF analysis on a sample from the first sampling program also confirmed that the lithium bearing mineral is spodumene.

Plans for drilling are well advanced, GRE says.

“We are extremely pleased to see a persistence in the tenor of the mineralisation over the entire length of the pegmatite zone identified to date,” GRE exec Thomas Reddicliffe says.

“We believe the consistency of the grades over a now 7.5km strike is evidence of a large mineralising system and underscores the prospectivity of this pegmatite zone.”

Ruth Well also contains a small nickel-copper resource down the road from GRE’s flagship Whundo project (6.18Mt @ 1.12% Cu and 1.04% Zn) and Azure’s Andover lithium discovery.

EUROPEAN LITHIUM (ASX:EUR)

Development of EUR’s Wolfsberg lithium project in Austria is nearing after Critical Metals Corp. entered into a US$125m share subscription facility with GEM Global Yield.

The funding from Luxembourg-based private alternative investment group GEM Global Yield is a clear sign of confidence in Critical Metals Corp (CRML).

CRML is the proposed merger between the company’s wholly owned subsidiary European Lithium AT, which holds the Wolfsberg project in Austria, and Sizzle Acquisition Corp (Nasdaq:SZZL).

Proceeds from this facility will be used to accelerate development of the project with EUR chairman Tony Sage noting that about 65% of the total expected Capex has been secured to date from the latest deal and the previous agreement with Saudi Arabia’s Obeikan Investment Group.

Sage added that the GEM deal was a huge milestone that brought it closer to its stated goal of becoming the first local producer of lithium spodumene for the green energy transition in Europe.

At Stockhead we tell it like it is, while European Lithium is a Stockhead advertiser, it did not sponsor this article.