Eye on Lithium: GM just prepaid Livent $198m for a guaranteed six-year supply of lithium hydroxide

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?

PILBARA MINERALS (ASX:PLS)

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.