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Eye on Lithium: By 2040, all of the lithium mined last year will only meet one month’s demand
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- We need more than twenty times the amount of lithium mined last year to meet demand
- Ragusa receives new NT tenement grant
- Winsome begins drilling at the Cancet and Adina Lithium Projects in Quebec, Canada
All your lithium news, Friday October 14.
According to the latest data out of Benchmark Mineral Intelligence (BMI), the world needs more than twenty times the amount of lithium mined last year to meet demand by 2050.
This means annual production of 11.2 million tonnes LCE will be needed by 2050 with energy storage making up two-thirds of battery demand by that date, the price reporting agency highlights.
“The long term path for lithium is set, yet the supply chain scaling challenge has just begun,” Simon Moores, chief executive of Benchmark, says.
“What this data shows is that we are at just the beginning of a generational challenge, not one that’s going to be solved in the 2020s.”
By 2040, all of the lithium mined last year will only meet one month’s demand, even with the supply from recycled batteries.
“Lithium miners and refiners not only have to sensitively scale their supply base within the economics of today and near-term future,” Moores said.
“But they also attempt to plan for a world lithium ion economy that is an order of magnitude bigger than today.”
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | % WEEK | % MONTH | % YEAR | MARKET CAP |
|---|---|---|---|---|---|---|---|
| TSC | Twenty Seven Co. Ltd | 0.0025 | 25% | 25% | 25% | -29% | $10,643,256 |
| CZL | Cons Zinc Ltd | 0.028 | 17% | 40% | 17% | 17% | $11,110,115 |
| SHH | Shree Minerals Ltd | 0.009 | 13% | 0% | 6% | -10% | $9,907,895 |
| MTM | Mtmongerresources | 0.125 | 9% | 0% | -14% | -22% | $4,313,654 |
| BNR | Bulletin Res Ltd | 0.13 | 8% | 4% | -16% | 88% | $35,110,932 |
| EFE | Eastern Resources | 0.042 | 8% | 0% | 50% | 20% | $40,839,843 |
| IR1 | Irismetals | 1.665 | 6% | -14% | -19% | 505% | $98,799,750 |
| AML | Aeon Metals Ltd. | 0.028 | 6% | -3% | -13% | -49% | $28,975,915 |
| KGD | Kula Gold Limited | 0.039 | 5% | 11% | 95% | -20% | $12,439,841 |
| WCN | White Cliff Min Ltd | 0.02 | 5% | -5% | -17% | 67% | $14,204,464 |
| NVA | Nova Minerals Ltd | 0.65 | 5% | -7% | -28% | -64% | $113,869,991 |
| GL1 | Globallith | 2.41 | 5% | 2% | 0% | 534% | $365,005,989 |
| 1MC | Morella Corporation | 0.022 | 5% | -4% | -21% | -65% | $121,832,672 |
| PGD | Peregrine Gold | 0.585 | 4% | -3% | -13% | 63% | $21,684,071 |
| GT1 | Greentechnology | 0.76 | 4% | -3% | -8% | 0% | $139,239,027 |
| MMG | Monger Gold Ltd | 0.38 | 4% | -5% | -23% | 46% | $14,614,600 |
| TUL | Tulla Resources | 0.4575 | 4% | -6% | -11% | -9% | $70,495,424 |
| INF | Infinity Lithium | 0.1975 | 4% | 7% | 7% | 58% | $79,042,483 |
| LTR | Liontown Resources | 1.5775 | 4% | -2% | -11% | 13% | $3,338,581,732 |
| JRL | Jindalee Resources | 2.28 | 4% | 1% | -10% | 10% | $126,233,725 |
| KAI | Kairos Minerals Ltd | 0.029 | 4% | -19% | -12% | -3% | $54,994,618 |
| AM7 | Arcadia Minerals | 0.305 | 3% | 2% | 17% | 61% | $13,775,878 |
| STM | Sunstone Metals Ltd | 0.032 | 3% | -6% | -24% | -27% | $80,489,839 |
| QPM | Queensland Pacific | 0.165 | 3% | 14% | 3% | -33% | $251,474,101 |
| WC8 | Wildcat Resources | 0.034 | 3% | -3% | -6% | -21% | $21,508,500 |
| LNR | Lanthanein Resources | 0.036 | 3% | -16% | -33% | 100% | $33,698,895 |
| AZL | Arizona Lithium Ltd | 0.077 | 3% | -5% | -23% | 83% | $180,744,417 |
| AKE | Allkem Limited | 14.285 | 3% | 0% | -11% | 69% | $8,876,200,557 |
| QXR | Qx Resources Limited | 0.083 | 2% | 9% | 159% | 453% | $71,430,848 |
| IMI | Infinitymining | 0.215 | 2% | -7% | 5% | 0% | $13,254,938 |
| MXR | Maximus Resources | 0.045 | 2% | -10% | -10% | -44% | $14,031,854 |
| LLL | Leolithiumlimited | 0.5925 | 2% | -4% | -12% | 0% | $572,261,009 |
| PSC | Prospect Res Ltd | 0.097 | 2% | 2% | 2% | 361% | $43,914,649 |
| RGL | Riversgold | 0.05 | 2% | 28% | 32% | 130% | $38,038,751 |
| LIT | Lithium Australia | 0.054 | 2% | -5% | -11% | -51% | $64,641,090 |
| PLL | Piedmont Lithium Inc | 0.825 | 2% | -4% | -9% | 4% | $427,332,348 |
| WES | Wesfarmers Limited | 44.92 | 2% | 0% | -7% | -14% | $50,013,693,075 |
| MIN | Mineral Resources. | 70.3 | 2% | -4% | -5% | 66% | $13,113,818,730 |
| LRD | Lordresourceslimited | 0.3 | 2% | 7% | 7% | 0% | $9,818,963 |
| CRR | Critical Resources | 0.061 | 2% | -6% | -8% | 126% | $89,411,259 |
| ZNC | Zenith Minerals Ltd | 0.315 | 2% | 2% | 3% | 34% | $106,876,306 |
| AGY | Argosy Minerals Ltd | 0.4775 | 2% | -5% | -9% | 151% | $647,556,762 |
| WR1 | Winsome Resources | 0.345 | 1% | -5% | 3% | 0% | $45,938,758 |
| AAJ | Aruma Resources Ltd | 0.07 | 1% | -4% | 3% | -13% | $10,830,344 |
| MNS | Magnis Energy Tech | 0.35 | 1% | -9% | -29% | 13% | $334,764,362 |
| RIO | Rio Tinto Limited | 97.01 | 1% | -1% | 0% | -2% | $35,503,118,707 |
| GW1 | Greenwing Resources | 0.37 | 1% | -8% | 32% | 30% | $46,064,994 |
| LKE | Lake Resources | 0.9925 | 1% | -3% | -22% | 80% | $1,362,174,235 |
| AUN | Aurumin | 0.083 | 1% | -12% | -28% | -59% | $10,275,185 |
| SYA | Sayona Mining Ltd | 0.2225 | 1% | -9% | -37% | 48% | $1,828,310,677 |
| PNN | Power Minerals Ltd | 0.45 | 1% | -9% | -31% | 23% | $32,109,880 |
| ESS | Essential Metals Ltd | 0.505 | 1% | 2% | -5% | 237% | $124,181,341 |
| LPI | Lithium Pwr Int Ltd | 0.54 | 1% | -8% | -26% | 64% | $209,292,602 |
| RAS | Ragusa Minerals Ltd | 0.2875 | 1% | -10% | 13% | 174% | $37,338,599 |
| CAI | Calidus Resources | 0.3575 | 1% | -36% | -41% | -42% | $155,412,505 |
| CXO | Core Lithium | 1.1425 | 1% | -2% | -31% | 141% | $2,082,180,996 |
| DRE | Dreadnought Resources Ltd | 0.0945 | 1% | -10% | -18% | 155% | $285,998,154 |
| VUL | Vulcan Energy | 6.5 | 0% | -15% | -26% | -44% | $927,379,397 |
| GLN | Galan Lithium Ltd | 1.195 | 0% | -1% | -19% | 14% | $362,438,158 |
| ADV | Ardiden Ltd | 0.007 | 0% | 8% | -13% | -36% | $18,678,347 |
| ASN | Anson Resources Ltd | 0.28 | 0% | -8% | -33% | 222% | $328,939,493 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | 156% | $2,752,409,203 |
| EMH | European Metals Hldg | 0.69 | 0% | -2% | -20% | -50% | $82,585,884 |
| LPD | Lepidico Ltd | 0.019 | 0% | -20% | -38% | -20% | $125,061,633 |
| RLC | Reedy Lagoon Corp. | 0.014 | 0% | 0% | -13% | -33% | $7,803,977 |
| TKL | Traka Resources | 0.007 | 0% | 0% | 0% | -50% | $4,821,422 |
| BMM | Balkanminingandmin | 0.27 | 0% | -16% | 1% | -62% | $11,612,904 |
| ARN | Aldoro Resources | 0.225 | 0% | 7% | -12% | -44% | $22,407,146 |
| CHR | Charger Metals | 0.48 | 0% | -1% | -17% | -2% | $20,930,897 |
| AX8 | Accelerate Resources | 0.034 | 0% | -6% | -17% | -19% | $9,195,603 |
| BYH | Bryah Resources Ltd | 0.025 | 0% | -4% | -11% | -49% | $6,981,337 |
| DTM | Dart Mining NL | 0.078 | 0% | -3% | -26% | -32% | $12,075,192 |
| FG1 | Flynngold | 0.11 | 0% | 0% | 5% | -33% | $7,046,716 |
| FRS | Forrestaniaresources | 0.2 | 0% | 16% | -20% | -43% | $8,562,261 |
| RAG | Ragnar Metals Ltd | 0.028 | 0% | 8% | -28% | -33% | $10,617,177 |
| TMB | Tambourahmetals | 0.145 | 0% | -9% | -3% | -26% | $5,972,927 |
| TEM | Tempest Minerals | 0.032 | 0% | -6% | -16% | 68% | $16,152,518 |
| WML | Woomera Mining Ltd | 0.015 | 0% | -35% | 0% | -26% | $10,302,496 |
| LRS | Latin Resources Ltd | 0.099 | 0% | -10% | -14% | 141% | $195,127,443 |
| SCN | Scorpion Minerals | 0.07 | 0% | -4% | -16% | 25% | $23,359,433 |
| AZI | Altamin Limited | 0.08 | 0% | -2% | -11% | 1% | $31,337,340 |
| ENT | Enterprise Metals | 0.011 | 0% | 10% | 10% | -21% | $7,182,788 |
| AVW | Avira Resources Ltd | 0.0035 | 0% | 17% | -13% | -42% | $7,415,765 |
| RMX | Red Mount Min Ltd | 0.006 | 0% | 0% | 0% | -33% | $9,854,183 |
| MRR | Minrex Resources Ltd | 0.055 | 0% | 6% | 0% | 206% | $59,576,877 |
| A8G | Australasian Metals | 0.28 | 0% | -7% | -7% | -40% | $11,527,738 |
| MQR | Marquee Resource Ltd | 0.057 | 0% | -8% | -26% | -16% | $18,104,202 |
| SRZ | Stellar Resources | 0.013 | 0% | 0% | -13% | -57% | $13,060,202 |
| NWM | Norwest Minerals | 0.029 | 0% | -29% | -48% | -68% | $6,441,114 |
| AOA | Ausmon Resorces | 0.007 | 0% | -13% | -13% | 0% | $6,001,025 |
| VKA | Viking Mines Ltd | 0.007 | 0% | 0% | -13% | -61% | $7,176,809 |
| IPT | Impact Minerals | 0.007 | 0% | 0% | 0% | -48% | $17,369,594 |
| SRI | Sipa Resources Ltd | 0.046 | 0% | 5% | 2% | -16% | $9,431,141 |
| VMC | Venus Metals Cor Ltd | 0.135 | 0% | -7% | -22% | -25% | $21,610,622 |
| G88 | Golden Mile Res Ltd | 0.026 | 0% | -7% | -24% | -46% | $5,319,334 |
| EPM | Eclipse Metals | 0.021 | 0% | -5% | -9% | -54% | $42,509,394 |
| EVR | Ev Resources Ltd | 0.025 | 0% | -7% | -17% | -19% | $23,149,602 |
| THR | Thor Mining PLC | 0.009 | 0% | 0% | -18% | -50% | $9,916,186 |
| MM1 | Midasmineralsltd | 0.19 | 0% | 0% | -10% | 0% | $10,855,035 |
| M2R | Miramar | 0.099 | 0% | -1% | -18% | -49% | $6,354,480 |
| XTC | Xantippe Res Ltd | 0.008 | 0% | 0% | 0% | 220% | $65,161,839 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | 0% | 0% | -77% | $74,238,031 |
| ZEO | Zeotech Limited | 0.039 | 0% | -3% | -19% | -56% | $62,966,781 |
| DAF | Discovery Alaska Ltd | 0.035 | 0% | -46% | -53% | -19% | $7,848,214 |
| FTL | Firetail Resources | 0.2 | 0% | -5% | -17% | 0% | $12,356,500 |
| DAL | Dalaroometalsltd | 0.135 | 0% | 4% | 4% | -44% | $4,033,125 |
| TKM | Trek Metals Ltd | 0.067 | 0% | 26% | -8% | -54% | $20,810,880 |
| LEL | Lithenergy | 1.12 | 0% | -3% | -7% | 91% | $67,668,750 |
| NMT | Neometals Ltd | 1.025 | 0% | -8% | -33% | 19% | $568,916,903 |
| IGO | IGO Limited | 15.28 | -1% | 1% | 2% | 76% | $11,646,778,964 |
| RDT | Red Dirt Metals Ltd | 0.59 | -1% | -2% | -16% | -29% | $197,537,515 |
| LIS | Lisenergylimited | 0.505 | -1% | -4% | -19% | -76% | $84,616,235 |
| CY5 | Cygnus Gold Limited | 0.49 | -1% | 32% | 63% | 326% | $72,856,731 |
| EUR | European Lithium Ltd | 0.078 | -1% | 0% | -21% | -12% | $110,618,895 |
| AS2 | Askarimetalslimited | 0.385 | -1% | -4% | -8% | 88% | $17,736,858 |
| PAM | Pan Asia Metals | 0.375 | -1% | -5% | -18% | -16% | $55,805,124 |
| KTA | Krakatoa Resources | 0.058 | -2% | -22% | -5% | -8% | $20,337,885 |
| MLS | Metals Australia | 0.045 | -2% | 2% | -18% | 13% | $27,923,665 |
| GSM | Golden State Mining | 0.041 | -2% | 5% | -18% | -68% | $4,914,597 |
| TYX | Tyranna Res Ltd | 0.04 | -2% | -11% | -22% | 515% | $98,355,938 |
| KZR | Kalamazoo Resources | 0.185 | -3% | -8% | -29% | -46% | $28,275,681 |
| OCN | Oceanalithiumlimited | 0.485 | -3% | -8% | -35% | 0% | $16,762,500 |
| AOU | Auroch Minerals Ltd | 0.061 | -3% | -5% | 0% | -64% | $23,380,043 |
| ALY | Alchemy Resource Ltd | 0.026 | -4% | -21% | 24% | 104% | $25,733,059 |
| EMS | Eastern Metals | 0.125 | -4% | -19% | -4% | 0% | $5,025,313 |
| INR | Ioneer Ltd | 0.5275 | -4% | -21% | -25% | -11% | $1,153,973,742 |
| TON | Triton Min Ltd | 0.023 | -4% | -4% | -26% | -34% | $33,186,820 |
| PLS | Pilbara Min Ltd | 4.695 | -5% | -13% | -1% | 140% | $14,744,591,527 |
| LSR | Lodestar Minerals | 0.0055 | -8% | -8% | -31% | -45% | $10,430,624 |
| MMC | Mitremining | 0.16 | -9% | 0% | -11% | -29% | $4,739,893 |
| LRV | Larvottoresources | 0.22 | -12% | 7% | -8% | 0% | $10,383,125 |
57 lithium companies finished in the green, 52 fell flat, and 22 tumbled into red territory.
Who’s got news out?
RAGUSA MINERALS (ASX:RAS)
The Northern Territory’s Mineral Titles Office has granted Ragusa the EL33148 tenement for a period of six years.
Part of the wider NT Lithium Project, the company says it plans to rapidly accelerate development within the proven lithium district as drilling operations continue.
A lithium exploration program is now underway ahead of submission to the Mining Management Plan for Exploration – seeking approval to conduct drilling works in the newly granted tenement area.
RAS will also engage with key stakeholders and seek approval prior to conducting exploration works, which will set out to target lithium bearing pegmatite rocks using a combination of geological mapping, geochemical sampling, and reconnaissance drilling.
WINSOME RESOURCES (ASX:WR1)
Two drilling campaign are underway at Winsome’s Cancet and Adina Lithium Projects in Quebec, Canada.
At Cancet a heli-portable reverse circulation (RC) rig has mobilised set to target an estimated 3,500m across 20 new pegmatites.
The estimated six-week program will also drill targets where gravity anomalies have been identified, as well as confirm mineralisation extensions to the main dyke following recent stripping and channel sampling.
A 5,000m drilling program is also underway at the Adina Project where exploration is focusing on infill holes across previously identified mineralisation, as well as testing new mineralisation following rock chip sample assay results.
Drilling will also investigate gravity anomalies at Adina, which have the potential to reveal under cover extensions to the known pegmatites.
BULLETIN RESOURCES (ASX:BNR)
The company continues to receive enquiries regarding Aldoro’s (ASX:ARN) recent mineral resource estimate at the Niobe Rubidium-Lithium Project, which completely surrounds BNR’s Mt Farmer tenement application.
Bulletin’s tenement application (E59/2413) has more than 5km strike of the potential greenstone host to the Rubidium bearing pegmatite unit.
BNR says it originally applied for E59/2413 for its gold and tantalum potential and the tenement application is progressing through the DMIRS tenement grant process.
JINDALEE RESOURCES (ASX:JRL)
Positive results have been received from alkali salt roasting of McDermitt ore in Oregon, USA.
Lithium phosphate (Li3PO4) assaying 58,880 ppm (5.89%) Li has been produced from roasting and sequential leaching of a composite sample of McDermitt ore assaying 1,460 ppm Li.
Lithium phosphate has been shown to be a potential precursor chemical for production of Lithium Iron Phosphate (LFP) batteries.
LFP batteries currently comprise 25% of the Li-ion battery market and are expected to grow to 40% by 2030 due to improved battery configurations increasing range performance.
Whilst the company has not committed to a particular processing route, JRL says it is delighted with the results from the initial alkali salt roasting test-work, which suggest a viable alternative processing route to sulphuric acid leaching.
Test-work to develop the most cost effective and energy efficient flow sheet for McDermitt is continuing, with further results to be announced when received.
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