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Eye on Lithium: GM just prepaid Livent $198m for a guaranteed six-year supply of lithium hydroxide
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- GM prepays lithium producer Livent for six-year supply from its Argentinian operations
- The EV maker is targeting 1 million EVs annually by 2025 in North America
- Pilbara Minerals has sold a 5,000t cargo of 5.5% spodumene via its auction platform for $US6,350/t
All your ASX lithium news for Wednesday, August 3.
General Motors Co (GM) is prepaying Livent Corp $198 million for a guaranteed six-year supply of lithium.
Prepaying cash for a guaranteed metal supply is almost unheard of in the mining industry – and this deal shows just how worried keen GM is to secure sufficient raw materials to meet its goal of producing 1 million electric vehicles (EVs) annually by 2025.
The broad terms of the deal were announced last week, but yesterday Livent announced the financial terms.
“GM is certainly thinking for the long term here,” CEO Paul Graves said.
“By making the advanced payment, they are clearly giving us the commitment that we were looking for.”
Livent will supply the automaker with battery-grade lithium hydroxide made primarily from lithium extracted at its brine-based operations in South America, over a six year period beginning in 2025 with the goal of transitioning 100% of its downstream lithium hydroxide processing for GM to North America.
Plus, the prepayment is expected to assist Livent in expanding its North American capabilities.
Here’s how ASX lithium stocks were tracking today:
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| Code | Company | Price | % Month | % Week | % Today | Market Cap |
|---|---|---|---|---|---|---|
| AOA | Ausmon Resorces | 0.006 | 0% | 0% | 20% | $4,286,446.72 |
| MRR | Minrex Resources Ltd | 0.058 | 87% | 61% | 16% | $53,007,348.05 |
| LSR | Lodestar Minerals | 0.008 | 33% | 23% | 14% | $12,169,061.44 |
| AUN | Aurumin | 0.155 | 35% | 11% | 11% | $15,291,255.28 |
| INR | Ioneer Ltd | 0.585 | 38% | 13% | 10% | $1,112,011,060.28 |
| EPM | Eclipse Metals | 0.023 | 28% | 21% | 10% | $40,343,654.67 |
| PNN | Power Minerals Ltd | 0.49 | 11% | 7% | 9% | $27,682,589.25 |
| LKE | Lake Resources | 0.875 | 15% | 20% | 9% | $1,118,737,404.33 |
| VMC | Venus Metals Cor Ltd | 0.19 | 12% | 15% | 9% | $28,013,769.53 |
| KGD | Kula Gold Limited | 0.03 | 30% | 0% | 7% | $6,024,917.70 |
| ALY | Alchemy Resource Ltd | 0.015 | 7% | -12% | 7% | $13,343,036.80 |
| AS2 | Askarimetalslimited | 0.315 | 26% | 27% | 7% | $13,295,434.65 |
| PLL | Piedmont Lithium Inc | 0.665 | 28% | 20% | 6% | $329,731,750.00 |
| SRZ | Stellar Resources | 0.017 | 0% | 13% | 6% | $13,428,842.02 |
| LNR | Lanthanein Resources | 0.017 | 6% | 6% | 6% | $13,405,209.12 |
| MXR | Maximus Resources | 0.054 | 20% | 17% | 6% | $16,213,194.17 |
| GL1 | Globallith | 1.48 | 26% | 22% | 6% | $222,177,558.40 |
| MM1 | Midasmineralsltd | 0.19 | -3% | 3% | 6% | $10,283,717.52 |
| LPI | Lithium Pwr Int Ltd | 0.525 | 27% | 11% | 5% | $174,572,424.00 |
| MTM | Mtmongerresources | 0.105 | -13% | -5% | 5% | $3,751,003.30 |
| GLN | Galan Lithium Ltd | 1.19 | 16% | 1% | 5% | $345,493,275.87 |
| NMT | Neometals Ltd | 1.16 | 27% | 10% | 5% | $608,697,799.56 |
| KTA | Krakatoa Resources | 0.051 | -2% | 2% | 4% | $16,890,785.93 |
| EFE | Eastern Resources | 0.026 | 24% | -4% | 4% | $24,860,915.78 |
| RGL | Riversgold | 0.028 | 0% | 4% | 4% | $20,422,151.97 |
| EMS | Eastern Metals | 0.145 | 4% | 7% | 4% | $5,411,875.00 |
| CY5 | Cygnus Gold Limited | 0.225 | 45% | 41% | 3% | $25,661,806.01 |
| MIN | Mineral Resources. | 54.81 | 18% | 11% | 3% | $10,053,403,009.88 |
| CXO | Core Lithium | 1.16 | 24% | 11% | 3% | $1,949,867,680.50 |
| MQR | Marquee Resource Ltd | 0.07 | 13% | -1% | 3% | $21,461,995.44 |
| LRS | Latin Resources Ltd | 0.073 | 9% | -6% | 3% | $138,154,220.82 |
| VUL | Vulcan Energy | 7.36 | 35% | -1% | 3% | $1,026,280,755.16 |
| AZL | Arizona Lithium Ltd | 0.074 | -16% | 0% | 3% | $173,154,640.39 |
| AGY | Argosy Minerals Ltd | 0.375 | 12% | -4% | 3% | $495,026,695.90 |
| EUR | European Lithium Ltd | 0.08 | 43% | 11% | 3% | $108,654,520.03 |
| LRV | Larvottoresources | 0.21 | -2% | 0% | 2% | $8,514,162.50 |
| BNR | Bulletin Res Ltd | 0.108 | -2% | -14% | 2% | $30,722,065.50 |
| OCN | Oceanalithiumlimited | 0.45 | 50% | 3% | 2% | $14,751,000.00 |
| ESS | Essential Metals Ltd | 0.46 | 26% | 12% | 2% | $110,919,341.25 |
| LIS | Lisenergylimited | 0.715 | 52% | -3% | 2% | $116,139,930.90 |
| ASN | Anson Resources Ltd | 0.123 | 32% | -9% | 2% | $123,349,480.20 |
| A8G | Australasian Metals | 0.245 | 7% | 0% | 2% | $9,880,918.56 |
| FG1 | Flynngold | 0.1 | 0% | -5% | 2% | $6,277,982.90 |
| IGO | IGO Limited | 11.03 | 12% | 11% | 2% | $8,186,065,058.53 |
| GSM | Golden State Mining | 0.053 | 36% | 8% | 2% | $6,053,908.59 |
| LTR | Liontown Resources | 1.35 | 35% | 12% | 2% | $2,904,698,387.35 |
| AAJ | Aruma Resources Ltd | 0.057 | -14% | -7% | 2% | $8,789,844.17 |
| MNS | Magnis Energy Tech | 0.32 | 7% | 0% | 2% | $305,654,417.15 |
| LIT | Lithium Australia | 0.072 | 29% | 1% | 1% | $73,514,062.08 |
| CAI | Calidus Resources | 0.72 | 24% | 16% | 1% | $289,559,980.18 |
| SYA | Sayona Mining Ltd | 0.183 | 18% | -9% | 1% | $1,493,558,529.30 |
| PLS | Pilbara Min Ltd | 2.775 | 24% | 8% | 1% | $8,156,564,572.16 |
| AKE | Allkem Limited | 11.28 | 10% | 8% | 1% | $7,116,264,239.76 |
| CHR | Charger Metals | 0.515 | 48% | 13% | 1% | $16,616,327.85 |
| ADV | Ardiden Ltd | 0.008 | 0% | 14% | 0% | $21,346,682.85 |
| 1MC | Morella Corporation | 0.017 | 0% | -15% | 0% | $87,995,637.76 |
| AML | Aeon Metals Ltd. | 0.028 | 27% | -3% | 0% | $27,751,677.04 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203.44 |
| INF | Infinity Lithium | 0.135 | 15% | 0% | 0% | $56,026,763.91 |
| PSC | Prospect Res Ltd | 0.135 | 186% | 170% | 0% | $62,405,027.37 |
| RLC | Reedy Lagoon Corp. | 0.013 | -32% | -35% | 0% | $7,246,549.86 |
| TKL | Traka Resources | 0.006 | 0% | 0% | 0% | $4,132,647.37 |
| BMM | Balkanminingandmin | 0.22 | 33% | 10% | 0% | $7,205,000.00 |
| ARN | Aldoro Resources | 0.21 | 56% | 11% | 0% | $20,913,336.57 |
| AX8 | Accelerate Resources | 0.037 | 23% | 16% | 0% | $10,006,979.26 |
| AM7 | Arcadia Minerals | 0.145 | -12% | 0% | 0% | $6,771,194.34 |
| BYH | Bryah Resources Ltd | 0.029 | 16% | -6% | 0% | $6,560,008.08 |
| IMI | Infinitymining | 0.13 | -10% | 0% | 0% | $7,475,000.00 |
| MMC | Mitremining | 0.115 | -4% | -4% | 0% | $3,114,786.50 |
| RAG | Ragnar Metals Ltd | 0.042 | 17% | 8% | 0% | $15,925,765.34 |
| TEM | Tempest Minerals | 0.039 | -59% | -9% | 0% | $19,685,880.86 |
| TSC | Twenty Seven Co. Ltd | 0.003 | 50% | 50% | 0% | $7,982,441.72 |
| WCN | White Cliff Min Ltd | 0.012 | 9% | -8% | 0% | $7,843,240.34 |
| WML | Woomera Mining Ltd | 0.015 | -21% | 7% | 0% | $10,302,495.99 |
| WR1 | Winsome Resources | 0.185 | -10% | -3% | 0% | $24,996,088.89 |
| QXR | Qx Resources Limited | 0.028 | 0% | 0% | 0% | $24,062,144.99 |
| AZI | Altamin Limited | 0.095 | 0% | -1% | 0% | $37,213,091.44 |
| ENT | Enterprise Metals | 0.012 | 50% | 20% | 0% | $7,835,768.26 |
| PGD | Peregrine Gold | 0.42 | 11% | -1% | 0% | $16,080,533.70 |
| AVW | Avira Resources Ltd | 0.003 | 0% | 0% | 0% | $6,356,370.00 |
| GT1 | Greentechnology | 0.61 | 2% | -10% | 0% | $112,404,482.23 |
| RMX | Red Mount Min Ltd | 0.007 | 18% | 0% | 0% | $10,675,365.08 |
| NWM | Norwest Minerals | 0.04 | 38% | 5% | 0% | $7,224,295.48 |
| VKA | Viking Mines Ltd | 0.007 | 17% | -13% | 0% | $7,176,809.02 |
| IPT | Impact Minerals | 0.007 | 0% | -7% | 0% | $17,369,593.89 |
| SRI | Sipa Resources Ltd | 0.04 | 14% | 0% | 0% | $8,200,992.12 |
| RAS | Ragusa Minerals Ltd | 0.074 | -4% | 0% | 0% | $9,304,475.54 |
| G88 | Golden Mile Res Ltd | 0.027 | 0% | 0% | 0% | $5,500,780.58 |
| THR | Thor Mining PLC | 0.01 | 0% | 0% | 0% | $10,689,009.73 |
| CZL | Cons Zinc Ltd | 0.021 | 17% | 5% | 0% | $8,134,514.07 |
| M2R | Miramar | 0.105 | 22% | -5% | 0% | $6,739,599.62 |
| XTC | Xantippe Res Ltd | 0.008 | 0% | 0% | 0% | $64,107,788.51 |
| LRD | Lordresourceslimited | 0.21 | -11% | 2% | 0% | $6,674,770.41 |
| WMC | Wiluna Mining Corp | 0.205 | -11% | 0% | 0% | $74,238,030.68 |
| DAF | Discovery Alaska Ltd | 0.043 | -22% | -2% | 0% | $9,642,092.01 |
| FTL | Firetail Resources | 0.235 | -6% | -8% | 0% | $14,518,887.50 |
| IR1 | Irismetals | 0.4 | 70% | 29% | 0% | $23,850,000.00 |
| DAL | Dalaroometalsltd | 0.11 | 25% | -8% | 0% | $3,286,250.00 |
| TKM | Trek Metals Ltd | 0.06 | 9% | -9% | 0% | $18,636,609.00 |
| TUL | Tulla Resources | 0.56 | 5% | 4% | 0% | $89,721,448.32 |
| LLL | Leolithiumlimited | 0.453 | -13% | 13% | -1% | $448,928,894.96 |
| RIO | Rio Tinto Limited | 96.66 | -4% | -2% | -1% | $36,119,337,622.20 |
| MLS | Metals Australia | 0.056 | 11% | 7% | -1% | $31,810,026.70 |
| LEL | Lithenergy | 0.945 | 37% | 12% | -1% | $43,118,250.00 |
| RDT | Red Dirt Metals Ltd | 0.4 | 5% | 5% | -1% | $123,344,542.53 |
| DTM | Dart Mining NL | 0.074 | 48% | 6% | -1% | $10,144,512.00 |
| EMH | European Metals Hldg | 0.685 | 6% | 4% | -1% | $83,192,984.52 |
| SCN | Scorpion Minerals | 0.066 | -7% | 5% | -1% | $22,232,689.86 |
| JRL | Jindalee Resources | 2.48 | -14% | 1% | -2% | $144,594,994.32 |
| WES | Wesfarmers Limited | 46.79 | 11% | 2% | -2% | $53,936,780,311.94 |
| LPD | Lepidico Ltd | 0.029 | 14% | -2% | -2% | $188,707,974.46 |
| EVR | Ev Resources Ltd | 0.028 | 10% | -5% | -2% | $25,927,553.99 |
| MMG | Monger Gold Ltd | 0.235 | 12% | 2% | -2% | $9,609,600.00 |
| STM | Sunstone Metals Ltd | 0.045 | 2% | -13% | -2% | $119,436,535.27 |
| KZR | Kalamazoo Resources | 0.215 | 26% | -2% | -2% | $31,942,762.28 |
| GW1 | Greenwing Resources | 0.215 | -2% | -2% | -2% | $27,114,416.78 |
| NVA | Nova Minerals Ltd | 0.85 | 25% | 10% | -2% | $156,775,987.95 |
| TMB | Tambourahmetals | 0.17 | 36% | 6% | -3% | $7,208,704.65 |
| ZEO | Zeotech Limited | 0.065 | 30% | 12% | -3% | $102,169,336.49 |
| TYX | Tyranna Res Ltd | 0.029 | 61% | 45% | -3% | $45,970,820.01 |
| QPM | Queensland Pacific | 0.14 | 22% | -3% | -3% | $226,723,904.00 |
| TON | Triton Min Ltd | 0.026 | 37% | 4% | -4% | $33,987,172.78 |
| KAI | Kairos Minerals Ltd | 0.026 | 37% | 4% | -4% | $52,976,524.26 |
| PAM | Pan Asia Metals | 0.345 | -19% | -5% | -4% | $26,611,287.12 |
| WC8 | Wildcat Resources | 0.022 | -12% | -4% | -4% | $14,841,272.72 |
| DRE | Dreadnought Resources Ltd | 0.065 | 35% | 10% | -4% | $193,190,281.47 |
| CRR | Critical Resources | 0.043 | -2% | 2% | -4% | $66,960,685.76 |
| ZNC | Zenith Minerals Ltd | 0.315 | 17% | 3% | -5% | $113,771,552.07 |
| AOU | Auroch Minerals Ltd | 0.061 | 5% | 3% | -5% | $23,660,915.14 |
| FRS | Forrestaniaresources | 0.15 | 25% | -6% | -6% | $4,973,808.64 |
| SHH | Shree Minerals Ltd | 0.008 | 0% | -11% | -11% | $11,146,382.03 |
A total of 54 stocks were in the green, 46 were flat and 31 were red.
Who has news out today?
The Aussie hard rock lithium major has just sold a 5,000t cargo of 5.5% spodumene via its auction platform for $US6,350/t – its equal best result ever.
That equals an implied price of $US7,012/t on a 6% basis (the industry benchmark).
“Strong interest continues to be received in both participation and bidding by a broad range of qualified buyers with a total of 67 bids received online during the 30 minute auction window,” PLS says.
This is a slight increase on the most recent July auction result, which saw 5,000t (5.5%) sell for US$6,188/dmt. There were also over 25 more bids placed this time around.
On June 23, a bid of US$6350/dmt for a 5000t shipment of 5.5% Li2O lithium concentrate was so appealing PLS accepted the offer ahead of a planned sixth Battery Material Exchange auction.
It demolished its record price for spodumene at the time.
PLS boss Dale Henderson recently used these words to describe the company’s decision to add another 100,000t of capacity at its Pilgangoora project which will take its spodumene production potential to as much as 680,000t.
A further enhancement to 1Mtpa is being studied.
In the June quarter, average realised selling prices rose 61% to US$4,267/dmt, boosting the company balance sheet by $589.3m to an incredible $874.2m.
