Pic: Germán Vogel / Moment via Getty Images
Eye on Lithium: China has 10x more Gigafactories in the pipeline than Europe and North America combined
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- BMI says China has 10x more Gigafactories planned that EU and US combined
- Arizona lithium plans to build a research facility in Phoenix to complement the Big Sandy project
- Resource Mining Corp picks up option to acquire two lithium projects in Finland
All your ASX lithium news for Tuesday, June 7
Benchmark Mineral Intelligence Boss Simon Moores says that, while China’s dominance in lithium-ion battery capacity is slowly being chipped away at by the USA and Europe, the country is still on course to have 69.9% of all cell capacity by 2031.
Currently China has 226 Gigafactories in the pipeline, Europe has 30 and the USA has 23.
“China has 10x more Gigafactories than Europe and North America at various stages of production, construction and planning,” Moores tweeted.
“This is an almighty blueprint to build EV electric vehicle dominance from for a generation.”
Latest edition of: who’s going to have the most lithium ion battery capacity @benchmarkmin
An interesting trend to note is China’s dominance is being chipped away at by USA & Europe
Yet, China is still on course to have 69.9% of cell capacity by 2031
That’s #EV dominance pic.twitter.com/shln8sw84j
— Simon Moores (@sdmoores) June 6, 2022
He also flagged that not only will China have a lot of Gigafactories, but they’re also going to be bigger, with around 10% over 50GWh.
Compare that to Tesla’s Gigafactory in Nevada which reached 20Gwh in 2018, and its currently 35GWh of lithium-ion cells annually.
But the carmaker has big plans for its Berlin Gigafactory – with an annual production capacity of around 50-100Gwh and the potential to scale up to 200-250Gwh.
Here’s how ASX lithium stocks were tracking today:
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| Code | Company | Price | % Month | % Week | % Today | Market Cap |
|---|---|---|---|---|---|---|
| SRI | Sipa Resources Ltd | 0.042 | -5% | 14% | 8% | $7,995,967.32 |
| FTL | Firetail Resources | 0.385 | 3% | 17% | 7% | $22,241,700.00 |
| AM7 | Arcadia Minerals | 0.235 | 0% | 7% | 7% | $7,698,350.00 |
| CXO | Core Lithium | 1.27 | 2% | -8% | 6% | $2,070,161,983.18 |
| LSR | Lodestar Minerals | 0.0085 | -29% | -15% | 6% | $13,907,498.78 |
| VMC | Venus Metals Cor Ltd | 0.185 | 0% | -3% | 6% | $26,438,769.53 |
| ZNC | Zenith Minerals Ltd | 0.39 | 3% | 1% | 5% | $127,244,537.35 |
| SRZ | Stellar Resources | 0.024 | -4% | 14% | 4% | $19,303,960.40 |
| LKE | Lake Resources | 1.47 | -11% | -1% | 4% | $1,898,515,590.78 |
| EPM | Eclipse Metals | 0.026 | -4% | 0% | 4% | $48,028,160.33 |
| TON | Triton Min Ltd | 0.027 | -13% | 0% | 4% | $32,728,388.60 |
| LPD | Lepidico Ltd | 0.03 | -3% | 0% | 3% | $188,704,727.07 |
| EMS | Eastern Metals | 0.17 | 0% | -6% | 3% | $5,874,000.00 |
| ARN | Aldoro Resources | 0.21 | -22% | -7% | 2% | $20,338,785.75 |
| TEM | Tempest Minerals | 0.049 | -36% | 0% | 2% | $24,228,776.45 |
| DTM | Dart Mining NL | 0.067 | -4% | -1% | 2% | $8,927,170.56 |
| AZI | Altamin Limited | 0.097 | 1% | 1% | 1% | $37,604,808.19 |
| PLS | Pilbara Min Ltd | 2.455 | -10% | -18% | 1% | $7,233,741,573.12 |
| PAM | Pan Asia Metals | 0.545 | 11% | 8% | 1% | $39,775,667.76 |
| AKE | Allkem Limited | 11.74 | -3% | -17% | 1% | $7,435,093,282.76 |
| GT1 | Greentechnology | 0.915 | -4% | -11% | 1% | $123,971,120.00 |
| RIO | Rio Tinto Limited | 115.93 | 6% | 2% | 0% | $42,975,701,094.78 |
| ADV | Ardiden Ltd | 0.01 | -17% | -17% | 0% | $26,683,353.56 |
| AUN | Aurumin | 0.17 | -4% | -8% | 0% | $18,567,952.84 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203.44 |
| AX8 | Accelerate Resources | 0.035 | -10% | -5% | 0% | $9,221,061.47 |
| AZL | Arizona Lithium Ltd | 0.125 | -22% | -17% | 0% | $279,089,901.50 |
| BMM | Balkanminingandmin | 0.25 | -18% | -18% | 0% | $8,187,500.00 |
| CY5 | Cygnus Gold Limited | 0.17 | 10% | -3% | 0% | $20,057,503.55 |
| DAF | Discovery Alaska Ltd | 0.051 | 46% | -46% | 0% | $11,435,969.60 |
| EFE | Eastern Resources | 0.028 | -36% | -20% | 0% | $27,844,225.67 |
| ENT | Enterprise Metals | 0.014 | -13% | 0% | 0% | $9,025,055.97 |
| GSM | Golden State Mining | 0.062 | -9% | -10% | 0% | $7,218,121.78 |
| IPT | Impact Minerals | 0.009 | -18% | -10% | 0% | $22,332,335.00 |
| KGD | Kula Gold Limited | 0.031 | -21% | -7% | 0% | $6,670,444.59 |
| KTA | Krakatoa Resources | 0.075 | -21% | -3% | 0% | $25,853,243.78 |
| MM1 | Midasmineralsltd | 0.27 | -21% | -19% | 0% | $14,698,293.75 |
| PGD | Peregrine Gold | 0.46 | -3% | -12% | 0% | $17,611,867.74 |
| PNN | PepinNini Minerals | 0.455 | -33% | -13% | 0% | $27,984,090.68 |
| PSC | Prospect Res Ltd | 0.965 | 0% | 1% | 0% | $430,068,258.39 |
| RAG | Ragnar Metals Ltd | 0.044 | 2% | -6% | 0% | $16,684,135.12 |
| RLC | Reedy Lagoon Corp. | 0.022 | -24% | -19% | 0% | $12,263,392.06 |
| SHH | Shree Minerals Ltd | 0.009 | -18% | -14% | 0% | $11,000,132.03 |
| THR | Thor Mining PLC | 0.013 | 0% | -7% | 0% | $13,874,912.65 |
| TKL | Traka Resources | 0.008 | -20% | -6% | 0% | $5,510,196.49 |
| TSC | Twenty Seven Co. Ltd | 0.003 | -25% | -14% | 0% | $7,982,441.72 |
| VKA | Viking Mines Ltd | 0.008 | -20% | -11% | 0% | $8,202,067.45 |
| WCN | White Cliff Min Ltd | 0.019 | -21% | -10% | 0% | $12,418,463.88 |
| WMC | Wiluna Mining Corp | 0.48251 | 0% | 0% | 0% | $101,961,574.11 |
| MIN | Mineral Resources. | 59.49 | 6% | -5% | 0% | $11,283,963,563.88 |
| IGO | IGO Limited | 11.81 | -2% | -6% | -1% | $8,988,768,940.31 |
| ESS | Essential Metals Ltd | 0.475 | -10% | -22% | -1% | $118,295,873.28 |
| SCN | Scorpion Minerals | 0.087 | 2% | -13% | -1% | $29,201,144.90 |
| DRE | Dreadnought Resources Ltd | 0.0385 | -8% | -10% | -1% | $110,708,658.49 |
| MNS | Magnis Energy Tech | 0.365 | -13% | -15% | -1% | $357,599,571.73 |
| EUR | European Lithium Ltd | 0.069 | -22% | -9% | -1% | $96,803,954.52 |
| ZEO | Zeotech Limited | 0.062 | 11% | 13% | -2% | $96,069,674.61 |
| MMG | Monger Gold Ltd | 0.29 | -19% | -3% | -2% | $7,375,000.00 |
| LIT | Lithium Australia | 0.0825 | -8% | -10% | -2% | $86,974,042.76 |
| LIS | Lisenergylimited | 0.51 | -15% | -19% | -2% | $86,275,377.24 |
| GL1 | Global Lithium Resources | 1.515 | -18% | -8% | -2% | $245,188,805.52 |
| JRL | Jindalee Resources | 3.53 | -7% | 0% | -2% | $206,564,277.60 |
| LRD | Lordresourceslimited | 0.25 | -22% | -17% | -2% | $7,850,078.36 |
| G88 | Golden Mile Res Ltd | 0.048 | -8% | -9% | -2% | $9,982,898.09 |
| STM | Sunstone Metals Ltd | 0.048 | -23% | -13% | -2% | $126,147,874.48 |
| CHR | Charger Metals | 0.47 | -27% | -14% | -2% | $15,638,896.80 |
| RDT | Red Dirt Metals Ltd | 0.47 | 9% | -18% | -2% | $146,186,124.48 |
| LPI | Lithium Pwr Int Ltd | 0.46 | -36% | -25% | -2% | $164,098,078.56 |
| WML | Woomera Mining Ltd | 0.023 | 5% | -12% | -2% | $16,140,577.05 |
| TKM | Trek Metals Ltd | 0.084 | -8% | -6% | -2% | $26,699,572.90 |
| EMH | European Metals Hldg | 0.925 | -18% | -4% | -3% | $133,738,116.75 |
| MTM | Mtmongerresources | 0.185 | 6% | 6% | -3% | $6,889,406.27 |
| GLN | Galan Lithium Ltd | 1.275 | -20% | -17% | -3% | $398,763,164.22 |
| MLS | Metals Australia | 0.069 | -31% | -17% | -3% | $30,945,542.27 |
| LTR | Liontown Resources | 1.2 | -13% | -14% | -3% | $2,707,398,119.53 |
| NMT | Neometals Ltd | 1.165 | -16% | -14% | -3% | $658,051,675.20 |
| VUL | Vulcan Energy | 7.18 | -7% | -9% | -3% | $974,173,666.00 |
| FFX | Firefinch Ltd | 0.32 | -69% | -71% | -3% | $389,810,262.93 |
| PLL | Piedmont Lithium Inc | 0.8 | -14% | -14% | -3% | $435,245,910.00 |
| BNR | Bulletin Res Ltd | 0.155 | -9% | -11% | -3% | $46,414,576.00 |
| AGY | Argosy Minerals Ltd | 0.435 | 5% | -11% | -3% | $609,736,334.40 |
| IMI | Infinitymining | 0.145 | -24% | -12% | -3% | $8,625,000.00 |
| LRS | Latin Resources Ltd | 0.086 | -28% | -28% | -3% | $171,701,278.29 |
| NWM | Norwest Minerals | 0.04 | -22% | -5% | -4% | $7,495,206.56 |
| GW1 | Greenwing Resources | 0.265 | -35% | -16% | -4% | $33,893,020.98 |
| INF | Infinity Lithium | 0.13 | -13% | -4% | -4% | $56,026,763.91 |
| MMC | Mitremining | 0.13 | -13% | -13% | -4% | $3,656,488.50 |
| FG1 | Flynngold | 0.125 | -14% | -7% | -4% | $8,327,936.50 |
| NVA | Nova Minerals Ltd | 0.605 | -4% | -3% | -4% | $113,527,439.55 |
| AAJ | Aruma Resources Ltd | 0.072 | -20% | -19% | -4% | $11,772,112.73 |
| WR1 | Winsome Resources | 0.355 | -21% | -16% | -4% | $49,992,177.78 |
| A8G | Australasian Metals | 0.35 | -20% | -8% | -4% | $15,027,230.31 |
| CZL | Cons Zinc Ltd | 0.023 | -4% | 0% | -4% | $8,720,587.51 |
| KAI | Kairos Minerals Ltd | 0.023 | -18% | -12% | -4% | $47,090,243.78 |
| IR1 | Irismetals | 0.335 | -47% | -12% | -4% | $19,468,750.00 |
| M2R | Miramar | 0.105 | -30% | -13% | -5% | $7,028,179.95 |
| TMB | Tambourahmetals | 0.205 | -16% | -2% | -5% | $8,856,408.57 |
| INR | Ioneer Ltd | 0.475 | -16% | -17% | -5% | $1,045,649,710.00 |
| LNR | Lanthanein Resources | 0.019 | -34% | -21% | -5% | $16,756,511.40 |
| XTC | Xantippe Res Ltd | 0.0095 | -21% | -5% | -5% | $76,830,568.99 |
| AS2 | Askarimetalslimited | 0.37 | -34% | -25% | -5% | $16,216,043.61 |
| MRR | Minrex Resources Ltd | 0.0445 | -22% | -27% | -5% | $47,409,628.92 |
| FRS | Forrestaniaresources | 0.175 | -44% | -8% | -5% | $5,198,278.74 |
| WC8 | Wildcat Resources | 0.035 | 9% | 3% | -5% | $23,875,090.90 |
| LEL | Lithenergy | 1.03 | -36% | -17% | -6% | $49,213,500.00 |
| AOU | Auroch Minerals Ltd | 0.08 | -24% | -10% | -6% | $30,710,652.92 |
| SYA | Sayona Mining Ltd | 0.16 | -44% | -22% | -6% | $1,401,221,626.52 |
| TYX | Tyranna Res Ltd | 0.016 | 167% | -11% | -6% | $26,050,131.34 |
| MQR | Marquee Resource Ltd | 0.094 | -10% | -10% | -6% | $31,194,848.50 |
| CAI | Calidus Resources | 0.78 | -16% | -8% | -6% | $334,509,636.14 |
| KZR | Kalamazoo Resources | 0.31 | -16% | -9% | -6% | $47,914,143.42 |
| MXR | Maximus Resources | 0.062 | -21% | -6% | -6% | $20,981,780.69 |
| AML | Aeon Metals Ltd. | 0.03 | -33% | -9% | -6% | $31,716,202.34 |
| ASN | Anson Resources Ltd | 0.14 | 22% | -3% | -7% | $154,186,850.25 |
| BYH | Bryah Resources Ltd | 0.042 | -16% | -11% | -7% | $10,179,322.88 |
| CRR | Critical Resources | 0.0615 | -32% | -23% | -7% | $98,190,040.28 |
| QXR | Qx Resources Limited | 0.039 | -30% | -26% | -7% | $36,093,217.48 |
| RGL | Riversgold | 0.037 | -37% | -12% | -8% | $30,255,039.96 |
| EVR | Ev Resources Ltd | 0.033 | -33% | -23% | -8% | $33,335,426.56 |
| 1MC | Morella Corporation | 0.021 | -32% | -22% | -9% | $119,052,921.68 |
| ALY | Alchemy Resource Ltd | 0.021 | -13% | -13% | -9% | $21,920,703.31 |
| RAS | Ragusa Minerals Ltd | 0.105 | 36% | -45% | -9% | $14,450,650.45 |
| DAL | Dalaroometalsltd | 0.1 | -23% | -17% | -9% | $3,286,250.00 |
| QPM | Queensland Pacific | 0.135 | -16% | -27% | -10% | $234,541,969.65 |
| AOA | Ausmon Resorces | 0.007 | -30% | -13% | -13% | $6,858,314.74 |
| RMX | Red Mount Min Ltd | 0.007 | -22% | -13% | -13% | $13,138,910.86 |
| LRV | Larvotto Resources | 0.265 | -17% | -13% | -15% | $12,774,325.00 |
| AVW | Avira Resources Ltd | 0.004 | -20% | -11% | -20% | $10,593,950.00 |
Only 21 stocks were in the green today, a massive 78 were in the red and 29 failed to move the needle.
Who’s got news out today?
Arizona Lithium has accepted a US$1m grant from the Arizona Commerce Authority (ACA) to set up its advanced research facility in Phoenix, Arizona.
The state is home to the company’s Big Sandy lithium project, where a scoping study is currently underway.
AZL is planning to create over 300 new jobs as part of the project, and is also eligible for financial programs related to capital investment and job creation totalling over US$100m – which could potentially improve the economics of Big Sandy.
The facility is expected to be operational this year.
RESOURCE MINING CORPORATION (ASX:RMI)
RMC has secured an exclusive option to acquire one nickel and two lithium projects – Hirvikallio and Kola – in Finland.
Notably, historic intersections at Hirvikallio include 5m at 2.30% Li2O.
The Kola project is in the most significant lithium-mining region of Finland, and the geology of Keliber’s flagship Syväjärvi and Rapasaari deposits directly to the south extends into Kola.
Keliber’s planned developments in the region include lithium mines and a concentrator plant in Kaustinen, Kokkola and Kruunupyy, Finland, as well as a lithium hydroxide plant in Kokkola with the potential for annual production of 15,000 tonnes of battery grade lithium hydroxide.
“Finland has a strong global reputation as a mining jurisdiction and ranks among the top 10 as per the Fraser Institute’s latest review,” chairman Asimwe Kabunga said.
“We look forward to being able to potentially increase the breadth of the company’s nickel project portfolio into such a top tier location, as well as concurrently adding several highly prospective lithium targets.”
The company says an external lithium expert review has been completed across the Spargoville Larkinville and Lefroy tenements, which confirmed most of the pegmatites belong to the rare-element lithium-caesium-tantalum (LCT) subtype.
Added to this, rock chip sampling returned 2.7% Li2O, 4,170ppm Cs and 17,250 ppm Rb at Larkinville and 1.97 % Li2O, 1,985 ppm Cs and 9,800 ppm Rb at Lefroy.
The planning and approval process is underway for a drill program in the second half of 2022, subject to approvals.
ESS announced that assays have confirmed high-grade near-surface lithium including 23.7m at 1.26% Li2O from 3.6m in the Cade deposit and 31.95m at 1.24% Li2O from 45.4m in the Davy deposit at the Pioneer Dome project in WA.
“Metallurgical test work is the next important step to confirm that the recoverability of lithium from this near-surface material is similar to the previous successful recoveries obtained from the Cade deposit (fresh rock zone), further enhancing the potential economics of the Dome North lithium Resource,” MD Tim Spencer said.
The testwork is expected to take around three months, with results published in early September.
AZL, RMI, MXR and ESS share prices today:
At Stockhead we tell it like it is. While Arizona Lithium is a Stockhead advertiser, it did not sponsor this article.
