Greater battery manufacturing capacity for GM. Pic: via Getty Images
Eye on Lithium: GM expanding battery manufacturing capacity
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- GM and Samsung to jointly build new battery manufacturing plant in the US
- Major cell manufacturers reporting stronger sales
- Leo Lithium on track for spodumene production in 2Q 2024
All your lithium news, Thursday April 25.
The drive towards building greater energy storage capacity has been underscored again by General Motors and Samsung SDI announcing a joint investment of over US$3bn for the construction of new battery cell manufacturing plant in the US.
This planned plant, which will start operations in 2026, will have more than 30 gigawatt hours of capacity and will increase GM’s total US battery cell capacity to about 160GWh when it is at full production.
GM and Samsung will jointly operate the plant, which will have production lines to build nickel-rich prismatic and cylindrical cells.
Chief executive officer and chair Mary Barra said GM’s supply chain strategy for EVs is focused on scalability, resiliency, sustainability and cost-competitiveness.
“The cells we will build together will help us scale our EV capacity in North America well beyond 1 million units annually,” she added.
GM added that the introduction of new cell form factors will allow the car manufacturing giant the ability to expand into more segments faster and integrate cells directly into battery packs to reduce weight, complexity and costs.
Signs of lithium demand improvement?
While lithium chemical prices in China continue to fall with the carbonate price down 5.6% to US$27,050 per tonne and hydroxide down 11.8% to US$34,225/t in the assessment period from 19 April to 26 April, Benchmark Mineral Intelligence flagged that the market might be turning.
It noted that some major cell manufacturers have reported that their order volumes have started to improve month-on-month, to the extent that sales now exceed production.
Likewise, while bulk buyers in the market remained cautious about making large purchases, sentiment amongst Chinese traders improved in response to bullish signals on futures trading platforms.
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | TODAY RETURN % | MARKET CAP |
|---|---|---|---|---|
| AM7 | Arcadia Minerals | 0.22 | 22% | $8,405,621 |
| 1MC | Morella Corporation | 0.009 | 13% | $48,788,644 |
| VSR | Voltaic Strategic | 0.028 | 12% | $7,682,505 |
| LPD | Lepidico Ltd | 0.01 | 11% | $68,739,946 |
| CMD | Cassius Mining Ltd | 0.02 | 11% | $7,352,872 |
| AML | Aeon Metals Ltd. | 0.024 | 9% | $24,120,814 |
| CHR | Charger Metals | 0.45 | 8% | $18,141,463 |
| CHR | Charger Metals | 0.45 | 8% | $18,141,463 |
| EVR | Ev Resources Ltd | 0.014 | 8% | $12,167,793 |
| KGD | Kula Gold Limited | 0.015 | 7% | $5,224,967 |
| BUR | Burleyminerals | 0.3 | 7% | $17,196,019 |
| TON | Triton Min Ltd | 0.033 | 6% | $42,866,309 |
| MTM | Mtmongerresources | 0.17 | 6% | $14,137,209 |
| TKM | Trek Metals Ltd | 0.068 | 6% | $23,292,485 |
| AS2 | Askarimetalslimited | 0.395 | 5% | $23,581,257 |
| MNS | Magnis Energy Tech | 0.2 | 5% | $194,812,982 |
| G88 | Golden Mile Res Ltd | 0.022 | 5% | $5,532,077 |
| LEL | Lithenergy | 0.555 | 5% | $31,879,500 |
| ESS | Essential Metals Ltd | 0.445 | 5% | $113,715,845 |
| EUR | European Lithium Ltd | 0.091 | 5% | $129,563,808 |
| LRD | Lordresourceslimited | 0.235 | 4% | $8,152,227 |
| LRD | Lordresourceslimited | 0.235 | 4% | $8,152,227 |
| WR1 | Winsome Resources | 1.28 | 4% | $199,299,996 |
| AKE | Allkem Limited | 11.78 | 4% | $7,224,666,114 |
| CY5 | Cygnus Metals Ltd | 0.27 | 4% | $48,652,295 |
| AUN | Aurumin | 0.03 | 3% | $5,734,988 |
| ZNC | Zenith Minerals Ltd | 0.165 | 3% | $56,272,967 |
| KOB | Kobaresourceslimited | 0.165 | 3% | $16,866,667 |
| CAI | Calidus Resources | 0.21 | 2% | $90,107,922 |
| GT1 | Greentechnology | 0.61 | 2% | $114,443,036 |
| LLL | Leolithiumlimited | 0.5075 | 2% | $493,328,456 |
| NMT | Neometals Ltd | 0.5775 | 1% | $315,062,470 |
| AGY | Argosy Minerals Ltd | 0.39 | 1% | $540,696,887 |
| GLN | Galan Lithium Ltd | 1.055 | 0% | $322,261,175 |
| VUL | Vulcan Energy | 5.75 | 0% | $821,884,275 |
| IGO | IGO Limited | 13.435 | 0% | $10,147,388,694 |
| PLS | Pilbara Min Ltd | 3.99 | 0% | $11,932,093,806 |
| LTR | Liontown Resources | 2.735 | 0% | $6,001,781,148 |
| ASN | Anson Resources Ltd | 0.17 | 0% | $207,634,210 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| LIT | Lithium Australia | 0.037 | 0% | $45,184,092 |
| QPM | Queensland Pacific | 0.13 | 0% | $227,025,230 |
| RLC | Reedy Lagoon Corp. | 0.006 | 0% | $3,400,318 |
| TKL | Traka Resources | 0.008 | 0% | $6,938,634 |
| BMM | Balkanminingandmin | 0.23 | 0% | $10,987,563 |
| ARN | Aldoro Resources | 0.165 | 0% | $22,179,918 |
| AAJ | Aruma Resources Ltd | 0.076 | 0% | $11,929,074 |
| AX8 | Accelerate Resources | 0.023 | 0% | $8,684,840 |
| BYH | Bryah Resources Ltd | 0.021 | 0% | $5,906,323 |
| DTM | Dart Mining NL | 0.06 | 0% | $9,337,234 |
| EMS | Eastern Metals | 0.06 | 0% | $2,343,865 |
| FRS | Forrestaniaresources | 0.077 | 0% | $4,688,630 |
| GSM | Golden State Mining | 0.031 | 0% | $3,627,440 |
| IMI | Infinitymining | 0.195 | 0% | $14,913,272 |
| MMC | Mitremining | 0.275 | 0% | $10,514,653 |
| RAG | Ragnar Metals Ltd | 0.016 | 0% | $6,066,958 |
| CTN | Catalina Resources | 0.0045 | 0% | $5,573,191 |
| EMC | Everest Metals Corp | 0.076 | 0% | $9,836,916 |
| WML | Woomera Mining Ltd | 0.011 | 0% | $10,517,773 |
| AZL | Arizona Lithium Ltd | 0.044 | 0% | $118,402,491 |
| LRS | Latin Resources Ltd | 0.125 | 0% | $275,206,865 |
| KZR | Kalamazoo Resources | 0.14 | 0% | $21,152,679 |
| SCN | Scorpion Minerals | 0.072 | 0% | $24,890,846 |
| ENT | Enterprise Metals | 0.007 | 0% | $4,935,565 |
| KAI | Kairos Minerals Ltd | 0.022 | 0% | $43,210,057 |
| PGD | Peregrine Gold | 0.355 | 0% | $19,916,427 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| NVA | Nova Minerals Ltd | 0.36 | 0% | $75,920,319 |
| BNR | Bulletin Res Ltd | 0.085 | 0% | $24,955,244 |
| MRR | Minrex Resources Ltd | 0.016 | 0% | $17,357,880 |
| A8G | Australasian Metals | 0.155 | 0% | $6,381,427 |
| EFE | Eastern Resources | 0.013 | 0% | $16,145,304 |
| SRZ | Stellar Resources | 0.012 | 0% | $12,055,571 |
| NWM | Norwest Minerals | 0.038 | 0% | $9,400,106 |
| AOA | Ausmon Resorces | 0.005 | 0% | $4,846,447 |
| VKA | Viking Mines Ltd | 0.012 | 0% | $12,303,101 |
| IPT | Impact Minerals | 0.013 | 0% | $32,257,817 |
| SRI | Sipa Resources Ltd | 0.026 | 0% | $5,932,112 |
| VMC | Venus Metals Cor Ltd | 0.2 | 0% | $35,615,737 |
| RAS | Ragusa Minerals Ltd | 0.089 | 0% | $12,691,292 |
| WC8 | Wildcat Resources | 0.03 | 0% | $19,860,682 |
| THR | Thor Energy PLC | 0.005 | 0% | $7,380,564 |
| MXR | Maximus Resources | 0.036 | 0% | $11,486,008 |
| M2R | Miramar | 0.045 | 0% | $3,515,478 |
| FBM | Future Battery | 0.11 | 0% | $47,062,965 |
| XTC | Xantippe Res Ltd | 0.003 | 0% | $31,740,299 |
| LLI | Loyal Lithium Ltd | 0.32 | 0% | $19,036,800 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ALY | Alchemy Resource Ltd | 0.0145 | 0% | $17,082,106 |
| LIS | Lisenergylimited | 0.285 | 0% | $47,285,543 |
| GW1 | Greenwing Resources | 0.185 | 0% | $27,733,308 |
| KTA | Krakatoa Resources | 0.033 | 0% | $11,375,427 |
| TYX | Tyranna Res Ltd | 0.025 | 0% | $60,160,633 |
| DAF | Discovery Alaska Ltd | 0.045 | 0% | $10,090,561 |
| FTL | Firetail Resources | 0.1 | 0% | $7,700,000 |
| 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 |
| TUL | Tulla Resources | 0.32 | 0% | $102,977,281 |
| OCN | Oceanalithiumlimited | 0.32 | 0% | $12,024,480 |
| PL3 | Patagonia Lithium | 0.185 | 0% | $9,065,648 |
| RMX | Red Mount Min Ltd | 0.0035 | 0% | $7,951,479 |
| RDT | Red Dirt Metals Ltd | 0.455 | 0% | $202,523,908 |
| ENT | Enterprise Metals | 0.007 | 0% | $4,935,565 |
| FIN | FIN Resources Ltd | 0.015 | 0% | $8,918,030 |
| DTM | Dart Mining NL | 0.06 | 0% | $9,337,234 |
| NIS | Nickelsearch | 0.092 | 0% | $5,566,499 |
| MAN | Mandrake Res Ltd | 0.038 | 0% | $22,752,877 |
| FBM | Future Battery | 0.11 | 0% | $47,062,965 |
| XTC | Xantippe Res Ltd | 0.003 | 0% | $31,740,299 |
| EMC | Everest Metals Corp | 0.076 | 0% | $9,836,916 |
| RIO | Rio Tinto Limited | 111.685 | 0% | $41,553,942,995 |
| GL1 | Globallith | 1.34 | 0% | $286,718,029 |
| PLL | Piedmont Lithium Inc | 0.83 | -1% | $361,370,465 |
| LLO | Lion One Metals Ltd | 1.25 | -1% | $15,191,773 |
| WES | Wesfarmers Limited | 52.22 | -1% | $59,693,361,463 |
| EMH | European Metals Hldg | 0.605 | -1% | $76,789,216 |
| INR | Ioneer Ltd | 0.2975 | -1% | $629,501,480 |
| MIN | Mineral Resources. | 71.74 | -1% | $14,024,493,909 |
| A11 | Atlantic Lithium | 0.6225 | -1% | $383,822,246 |
| AZI | Altamin Limited | 0.078 | -1% | $30,945,623 |
| JRL | Jindalee Resources | 2.23 | -1% | $129,676,463 |
| EG1 | Evergreenlithium | 0.37 | -1% | $21,086,250 |
| LPI | Lithium Pwr Int Ltd | 0.31 | -2% | $198,165,731 |
| DRE | Dreadnought Resources Ltd | 0.061 | -2% | $205,389,150 |
| LM1 | Leeuwin Metals Ltd | 0.3 | -2% | $12,288,448 |
| PAM | Pan Asia Metals | 0.285 | -2% | $44,980,621 |
| ZEO | Zeotech Limited | 0.049 | -2% | $82,035,284 |
| SGQ | St George Min Ltd | 0.047 | -2% | $40,344,506 |
| SYA | Sayona Mining Ltd | 0.195 | -3% | $1,793,753,185 |
| CRR | Critical Resources | 0.039 | -3% | $63,790,195 |
| MLS | Metals Australia | 0.036 | -3% | $22,460,339 |
| MM1 | Midasmineralsltd | 0.17 | -3% | $9,998,059 |
| STM | Sunstone Metals Ltd | 0.032 | -3% | $86,474,732 |
| RGL | Riversgold | 0.0155 | -3% | $15,127,483 |
| PSC | Prospect Res Ltd | 0.15 | -3% | $71,650,217 |
| LKE | Lake Resources | 0.41 | -4% | $604,539,000 |
| PAT | Patriot Lithium | 0.255 | -4% | $16,135,188 |
| INF | Infinity Lithium | 0.12 | -4% | $57,824,012 |
| TMB | Tambourahmetals | 0.12 | -4% | $5,149,075 |
| LPM | Lithium Plus | 0.24 | -4% | $12,722,050 |
| MQR | Marquee Resource Ltd | 0.021 | -5% | $7,198,565 |
| YAR | Yari Minerals Ltd | 0.02 | -5% | $10,129,514 |
| PNN | Power Minerals Ltd | 0.395 | -5% | $29,982,025 |
| CXO | Core Lithium | 0.945 | -5% | $1,849,224,210 |
| TEM | Tempest Minerals | 0.018 | -5% | $9,629,611 |
| QXR | Qx Resources Limited | 0.036 | -5% | $34,080,768 |
| EPM | Eclipse Metals | 0.014 | -7% | $30,420,897 |
| ADV | Ardiden Ltd | 0.0065 | -7% | $18,818,347 |
| LSR | Lodestar Minerals | 0.0055 | -8% | $10,910,624 |
| FG1 | Flynngold | 0.072 | -10% | $8,229,883 |
| LRV | Larvottoresources | 0.28 | -14% | $21,857,785 |
| WCN | White Cliff Min Ltd | 0.007 | -22% | $8,631,490 |
Lithium stocks were largely flat with 80 companies having little or no movement. 33 companies made gains while another 40 were in the red.
WHO’S GOT NEWS OUT?
Leo Lithium (ASX:LLL)
The Goulamina project remains on track to deliver first spodumene by the second quarter of 2024 with Leo Lithium’s ongoing optimisation work and improved cost visibility resulting in a US$30m increase in capital cost estimate up to US$255m.
Along with the estimated Operational Readiness Phase costs of US$33m, total capex to first production is now US$318m.
The project schedule review is now complete and the mine plan for the first two years of operations has been finalised.
Leo Lithium has also confirmed the early revenue opportunity from direct shipping ore, which is now at an expanded 185,000t, providing significant additional early funding.
Lithium Plus Minerals (ASX:LPM)
A number of new pegmatite systems and drill targets have been identified by Lithium Plus Minerals at its Bynoe project following completion of a large scale soil geochemistry program.
Results from the Lei, Perseverance, Jennys, and Jewellers prospects confirm that the definition of numerous pegmatite targets based on elevated and anomalous lithium with associated pathfinder elements.
It also allowed the company to calibrate soil geochemistry results with known lithium mineralised pegmatite occurrences, indicating the presence of lithium-enriched pegmatites.
Additionally, the newly defined Kings Landing Area hosts numerous drill-ready pegmatite systems that correlate strongly with lithium enrichment identified in soil samples.
Power Minerals (ASX:PNN)
Power Minerals has started resource definition drilling at the Rincon salar within its Salta lithium project in Argentina.
The company plans to increase resources by drilling three diamond core holes totalling 500m.
Results from this drill program will help inform a Preliminary Economic Assessment (PEA) currently being undertaken at Rincon.
On completion of drilling at Rincon, the rig will move on drilling at the Pocitos salar.
A maiden resource is also been compiled for the Incahuasi salar where drilling has been completed.
Red Mountain Mining (ASX:RMX)
Reconnaissance surface sampling at Red Mountain’s Lithic project in Nevada has returned claystone lithium grading up to 1,254 parts per million lithium.
Like its Mustang project, Lithic’s geology is considered analogous to that of the adjacent Clayton Valley.
The project is expected to be underlain by volcaniclastics and claystone that are interpreted to be the host of lithium in the closed basin.
Red Mountain plans to carry out additional geological mapping and surface sampling – particularly around areas with lithium values of interest.
Subsequent results will assist the upcoming maiden RC drilling program which is expected to comprise wide-spaced drilling down to a maximum depth of 100m.
