• Australia pushing ahead with more energy storage
  • Balkan acquires new Canadian lithium project
  • Energy Transition Metals starts Spanish lithium exploration

All your lithium news, Friday December 9.

Australia might soon be on the market for a whole heap of new grid-scale lithium-ion batteries after State and Territory energy ministers agreed to establish a Capacity Investment Scheme (CIS) to power its shift towards renewable energy.

The mechanism is aimed at fast-tracking the development of big batteries and long duration storage by encouraging the ideal mix of storage and renewable technologies needed in the system over the coming decade.

Federal Energy Minister Chris Bowen said open tenders will determine the projects to gain CIS support while an agreed revenue floor will help cover project operating costs and debt repayments, with the Government paying the difference when revenues fall short, and a share of profits returned whenever revenues exceed an agreed ceiling.

It will also complement existing State schemes and will not alter competitive tenders that are already underway.

“The Capacity Investment Scheme is essentially a keep the lights on mechanism,” Bowen added.

“Australian households, industry and the energy market are all moving with their feet towards more affordable renewable energy.

“The Capacity Investment Scheme will ensure the reliable power we need is delivered as this transition continues.”

According to the Australian Energy Market Operator’s “Step Change” scenario, achieving net zero emissions by 2050 will require a 300% increase in firming capacity from alternative sources to coal.

That likely translates to a lot of batteries, which in turns means a fair amount of lithium.

 

Chile’s not hot on lithium yet

Meanwhile, concerns have been raised about the growth of Chile’s lithium sector after president Gabriel Boric failed to announce a formal strategy nine months after coming to power on pledges to create a state-owned lithium company.

Growth of the country’s lithium industry is hampered by the lack of new expansions outside of the two largest companies, SQM and Albemarle, as well as concerns that private companies are being pushed out of the industry.

As such, Chile risks being overtaken by its neighbour Argentina.

Benchmark Market Intelligence flagging that if all planned capacity comes to market, Argentina could overtake Chile with a more than fourteen-fold increase in supply, to 534,000 tonnes LCE by 2030, due to a number of new projects from Chinese investors as well as mining giant Rio Tinto.

New projects have to obtain a special lithium operation contract (CEOL) from the mining ministry to produce lithium, as well as approval from the nuclear commission.

Boric’s plan to create a state lithium company also seems to be a step away from the private sector though officials have reportedly said the President will seek to create a public-private partnership company to look at how to add value to the country’s lithium production.

However, few details have emerged to date, leading to concerns that it will be left behind.

 

Here’s how ASX lithium stocks are tracking:

CODE COMPANY PRICE % TODAY MARKET CAP
SRZ Stellar Resources 0.014 17% $12,055,571
AOA Ausmon Resorces 0.008 14% $6,001,025
EVR Ev Resources Ltd 0.017 13% $13,934,761
AZI Altamin Limited 0.09 13% $31,337,340
RMX Red Mount Min Ltd 0.0055 10% $8,211,819
XTC Xantippe Res Ltd 0.0055 10% $40,726,149
STM Sunstone Metals Ltd 0.045 10% $107,438,303
EMC Everest Metals Corp 0.09 8% $8,833,948
THR Thor Mining PLC 0.0065 8% $8,653,277
BMM Balkanminingandmin 0.295 7% $11,827,958
VSR Voltaic Strategic 0.031 7% $8,886,489
EPM Eclipse Metals 0.016 7% $30,363,853
RAG Ragnar Metals Ltd 0.017 6% $6,066,958
TON Triton Min Ltd 0.039 5% $51,163,015
TKM Trek Metals Ltd 0.082 5% $28,387,716
TYX Tyranna Res Ltd 0.026 4% $60,135,633
MLS Metals Australia 0.053 4% $30,958,846
PSC Prospect Res Ltd 0.145 4% $64,716,325
KGD Kula Gold Limited 0.029 4% $10,113,934
RAS Ragusa Minerals Ltd 0.145 4% $18,944,541
RGL Riversgold 0.03 3% $27,418,564
LPD Lepidico Ltd 0.0155 3% $114,566,568
INF Infinity Lithium 0.165 3% $74,014,735
RIO Rio Tinto Limited 117.92 3% $42,504,256,503
AAJ Aruma Resources Ltd 0.069 3% $10,516,421
MM1 Midasmineralsltd 0.19 3% $10,569,376
EUR European Lithium Ltd 0.08 3% $113,040,656
ASN Anson Resources Ltd 0.21 2% $241,542,259
MIN Mineral Resources. 89.9 2% $16,658,914,734
MXR Maximus Resources 0.043 2% $13,394,042
NMT Neometals Ltd 0.97 2% $525,104,117
CRR Critical Resources 0.049 2% $75,736,237
NWM Norwest Minerals 0.05 2% $10,883,262
ALY Alchemy Resource Ltd 0.0265 2% $30,629,983
KTA Krakatoa Resources 0.056 2% $18,959,045
PLL Piedmont Lithium Inc 0.85 2% $440,521,618
MRR Minrex Resources Ltd 0.0385 1% $41,224,965
DRE Dreadnought Resources Ltd 0.089 1% $270,486,616
AZL Arizona Lithium Ltd 0.0705 1% $168,694,789
LEL Lithenergy 0.89 1% $53,232,750
GT1 Greentechnology 0.92 1% $174,525,630
LKE Lake Resources 0.945 1% $1,307,820,786
LLL Leolithiumlimited 0.5075 0% $498,261,741
IGO IGO Limited 14.91 0% $11,275,717,736
AGY Argosy Minerals Ltd 0.6 0% $842,644,499
AML Aeon Metals Ltd. 0.028 0% $30,699,217
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
ESS Essential Metals Ltd 0.39 0% $104,156,011
LIT Lithium Australia 0.048 0% $58,617,200
LPI Lithium Pwr Int Ltd 0.485 0% $189,732,546
RLC Reedy Lagoon Corp. 0.011 0% $6,131,696
TKL Traka Resources 0.005 0% $3,443,873
ARN Aldoro Resources 0.27 0% $30,486,326
PAM Pan Asia Metals 0.4 0% $58,742,236
AX8 Accelerate Resources 0.03 0% $9,330,832
BYH Bryah Resources Ltd 0.027 0% $7,593,844
FG1 Flynngold 0.097 0% $6,213,922
IMI Infinitymining 0.365 0% $23,511,774
LRV Larvottoresources 0.19 0% $10,147,045
MMC Mitremining 0.3 0% $8,125,530
TMB Tambourahmetals 0.135 0% $5,561,001
WCN White Cliff Min Ltd 0.015 0% $11,214,050
PNN Power Minerals Ltd 0.52 0% $37,522,308
KZR Kalamazoo Resources 0.21 0% $31,252,069
ENT Enterprise Metals 0.009 0% $6,345,726
AVW Avira Resources Ltd 0.003 0% $6,401,370
A8G Australasian Metals 0.225 0% $9,263,361
MQR Marquee Resource Ltd 0.055 0% $17,468,967
VKA Viking Mines Ltd 0.011 0% $11,277,843
IPT Impact Minerals 0.008 0% $19,850,964
SRI Sipa Resources Ltd 0.038 0% $8,625,465
VMC Venus Metals Cor Ltd 0.135 0% $24,040,622
G88 Golden Mile Res Ltd 0.024 0% $4,910,154
WC8 Wildcat Resources 0.028 0% $18,536,636
MNS Magnis Energy Tech 0.39 0% $378,429,278
CZL Cons Zinc Ltd 0.02 0% $9,258,429
WMC Wiluna Mining Corp 0.205 0% $74,238,031
GW1 Greenwing Resources 0.33 0% $41,659,425
DAF Discovery Alaska Ltd 0.028 0% $6,278,572
FTL Firetail Resources 0.16 0% $10,400,000
LNR Lanthanein Resources 0.031 0% $29,847,593
TUL Tulla Resources 0.395 0% $79,234,130
OCN Oceanalithiumlimited 0.44 0% $15,543,000
SGQ St George Min Ltd 0.075 0% $60,857,574
WES Wesfarmers Limited 47.78 0% $54,412,993,214
PLS Pilbara Min Ltd 4.45 -1% $13,430,415,766
NVA Nova Minerals Ltd 0.675 -1% $142,569,666
A11 Atlantic Lithium 0.685 -1% $420,990,454
CHR Charger Metals 0.6 -2% $26,599,681
CXO Core Lithium 1.16 -2% $2,169,216,914
AOU Auroch Minerals Ltd 0.053 -2% $20,040,037
AKE Allkem Limited 13.035 -2% $8,474,475,963
LRS Latin Resources Ltd 0.1275 -2% $264,882,966
KAI Kairos Minerals Ltd 0.0255 -2% $51,066,431
ZNC Zenith Minerals Ltd 0.25 -2% $89,585,217
DAL Dalaroometalsltd 0.125 -2% $3,809,063
AM7 Arcadia Minerals 0.245 -2% $11,674,473
QPM Queensland Pacific 0.1125 -2% $200,830,011
ZEO Zeotech Limited 0.044 -2% $73,831,755
INR Ioneer Ltd 0.5275 -2% $1,133,102,664
SCN Scorpion Minerals 0.075 -3% $25,695,377
GL1 Globallith 2.16 -3% $472,190,128
VUL Vulcan Energy 6.77 -3% $997,613,695
LTR Liontown Resources 1.74 -3% $3,931,619,277
EMH European Metals Hldg 0.68 -3% $83,672,939
JRL Jindalee Resources 2 -3% $118,200,670
MTM Mtmongerresources 0.087 -3% $5,132,180
SYA Sayona Mining Ltd 0.2125 -3% $1,910,486,938
FRS Forrestaniaresources 0.135 -4% $8,513,582
CMD Cassius Mining Ltd 0.026 -4% $11,029,308
AS2 Askarimetalslimited 0.385 -4% $19,735,649
QXR Qx Resources Limited 0.051 -4% $46,738,703
PGD Peregrine Gold 0.365 -4% $14,725,718
LIS Lisenergylimited 0.36 -4% $62,217,820
GSM Golden State Mining 0.047 -4% $5,733,696
RDT Red Dirt Metals Ltd 0.46 -4% $199,740,395
CAI Calidus Resources 0.335 -4% $153,276,097
DTM Dart Mining NL 0.062 -5% $10,091,910
BNR Bulletin Res Ltd 0.1 -5% $30,722,066
WML Woomera Mining Ltd 0.019 -5% $18,791,686
CY5 Cygnus Gold Limited 0.465 -5% $81,189,273
TEM Tempest Minerals 0.026 -5% $13,881,070
IR1 Irismetals 1.625 -6% $107,895,600
ADV Ardiden Ltd 0.008 -6% $22,680,851
1MC Morella Corporation 0.016 -6% $98,626,448
AUN Aurumin 0.075 -6% $10,804,571
EMS Eastern Metals 0.083 -7% $3,476,733
LLI Loyal Lithium Ltd 0.55 -7% $27,576,600
LRD Lordresourceslimited 0.205 -7% $7,322,617
GLN Galan Lithium Ltd 1.18 -8% $391,372,297
EFE Eastern Resources 0.031 -9% $39,217,354
WR1 Winsome Resources 1.365 -9% $208,788,032
LSR Lodestar Minerals 0.005 -9% $9,561,405
CTN Catalina Resources 0.008 -11% $11,146,382
M2R Miramar 0.08 -15% $6,644,084
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Lithium was just a tad bit in the red today with losers (49 of them) just about edging up the 42 companies that made gains.

 

Who’s got news out?

Balkan Mining and Minerals (ASX:BMM)

Balkan has expanded its Canadian operations with the company acquiring six new multi-cell claims covering 27.05km2 in the Georgia Lake lithium district, between its existing Gorge and Tango projects.

The new Arrel project is located 15km southwest of Gorge and 158km northeast of Thunderbay and has seen minimal modern exploration despite the Thunder Bay region of Ontario being the focus of lithium pegmatite exploration works.

Notable deposits in the area include Rock Tech Lithium’s Georgia Lake project and Imagine Lithium’s Jackpot project.

Energy Transition Metals (ASX:ETM)

The company has started exploration at its Villasrubias lithium project in Western Spain, which it farmed into in July this year.

ETM’s initial work program will build on previous exploration and mining with a drone aeromagnetic and electromagnetic survey, a very low frequency electromagnetic tomography survey, along with geological mapping, sampling, and trenching.

This work is aimed at identifying the extension of pegmatite bodies.

Several occurrences of tin mineralisation have been discovered in the tenement including the Canalita Mine, which consists of a et of trenches, and a larger excavation of approximately 6m that has since been filled in.

The tin mineral cassiterite was the primary metal extracted from Canalita while the waste rock from mining are aplite and pegmatite, often associated with the lithium mineral lepidolite.

Preliminary exploration at Villasrubias by regional government entity SIEMCALSA discovered evidence of lithium mineralized dykes along at least 370m of strike within a complex buried pegmatite field.