Eye on Lithium: Honda to build new EV battery plant, aims for 100% EVs and fuel cell vehicles by 2040
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All your lithium news, Thursday October 13.
Back in August, Honda and Korea’s LG Energy Solution (LGES) announced an agreement to establish a joint venture company and produce lithium-ion batteries exclusively for Honda and Acura EV models in the North American market at a new EV plant.
This week the new home for the 40GWh facility has been revealed – Fayette County, Ohio – about 64kms southwest of the state’s capital, Columbus, where construction is earmarked to begin in early 2023 ahead of completion in 2024.
The location is in line with Honda’s envision of building a new battery plant near a dedicated EV production line, as it strives for battery-electric and fuel cell vehicles to represent 100% of vehicle sales by 2040.
Honda has already announced plans to begin production and sales of Honda EVs in North America in 2026, based on its new Honda e:Architecture.
Both entities want to begin mass production of ‘pouch type’ lithium-ion batteries towards the pointy end of 2025 and according to the announcement on Tuesday, these batteries produced at the new JV plant will be provided to Honda auto plants for the production of EVs to be sold in North America.
“Honda is proud of our history in Ohio, where our U.S. manufacturing operations began more than four decades ago.” Honda Motor Co executive vice president Bob Nelson says.
41 lithium companies finished in the green, 37 tumbled into the red zone, and 53 fell flat.
A maiden drilling program has kicked off at the NT Lithium Project.
RAS plans to drill up to 2,000m, targeting the most prospective pegmatites with a view to defining a maiden mineral resource for the project.
The first drill hole has wrapped up with an encouraging 35m intersection of pegmatite recorded from 16m below surface.
Ragusa is awaiting regulatory approval to allow additional drilling sites to be included as part of the current drilling program within the project.
Earthworks have started across the company’s Yalgoo Lithium Project in WA to provide access for a maiden drilling program.
“Following the recent announcement of the large-scale ‘Goldilocks zone’ at Yalgoo, the Firetail team is excited to see the start of this much anticipated drilling campaign, and we are very optimistic about the potential of the project and what the drilling might unveil,” FTL executive chairman Brett Grosvenor says.
Experienced drilling contractor, KTE, has been engaged to carry out the campaign and is set to mobilise onto site and begin drilling next week.
TSC has taken an option to farm-in and acquire the right to earn a 100% interest in the Mt Edon Project, 5km from Paynes Find in Western Australia – subject to due diligence and shareholder approval.
Mt Edon sits on a fully granted mining lease, historically mined for tantalum but considered highly prospective for lithium, caesium, rubidium and rare earth elements as well.
The tenement package hosts numerous lithium-caesium-tantalum (LCT) pegmatites with lithium and caesium rich zones measuring up to 2.2% Li2O5 and, up to >550ppm caesium.
The company will initially fund a due diligence work program which will include a targeted 500m RC drilling program to a minimum value of $140,000 to determine whether to proceed with the farm-in.
Cygnus has received commitments to raise $6.3m through the issue of up to 8.6m ‘flow through shares’ placed at $0.73 per share, representing a 66pc premium to the company’s last sale price.
The Flow-Through Shares will be immediately on sold through a block trade agreement to domestic and offshore investors at $0.35 per share.
Use of the flow-through provisions will enable Cygnus to minimise issued capital dilution significantly, and a further $0.4m will be raised via a placement to Cygnus directors at $0.35 per share – which is at the same price as the participants in the block trade.
A 10,000m diamond drilling campaign is set to start early next month in the area where all holes drilled have hit high grade and shallow spodumene-bearing lithium-caesium-tantalum (LCT) pegmatites at the Pontax Lithium project in James Bay, Canada.
Anomalous lithium and gold responses have been recorded at Kens Bore South within the wider Yandal Project, which Hammer Metals says requires further ground review.
“Work on our Yandal gold project has understandably taken a back seat in 2022 as the company focused its attention on our prospective copper-gold targets across our expansive Mount Isa tenure in North-West Queensland,” managing director Daniel Thomas says.
HMX is aiming to further develop these promising targets ahead of conducting first-pass air-core drill testing in 2023.
African focused A11 has submitted a mining licence application in respect to the extraction of minerals from the proposed Ewoyaa Lithium Mine to the Minerals Commission of Ghana.
The company’s majority-owned Ghana company, Barari DV Ghana Ltd, and wholly-owned Ghana company, Green Metals Resources Ltd, have lodged the initial documents – which will now be assessed by the Ghanaian Government.
Atlantic says this is a significant milestone as it moves the Ewoyaa Lithium Project from the discovery stage to the delivery of studies and the submission of a ML application, towards permitting.
Trial mining of the test-pit has been completed, moving the Cloud Nine Halloysite-Kaolin Deposit in WA another step closer to mine pit design and discussions with off-take partners.
Around 50 tonnes of bulk samples were collected and have been sent off to potential customers for final analysis.
“We are also working on our scope of works, along with mine permitting for a DSO style product to sell to our potential customers,” LRS managing director Chris Gales says.
“If the numbers stack up, Cloud Nine could develop into a great project for Latin Resources.”
TYX says despite some delays, pre drilling works at the Muvero prospect within the wider Namibe Lithium Project in Angola, Africa are close to completion with access tracks completed, drilling equipment and rig mobilising to site and drill pads prepared.
Drilling is set to commence shortly.
Strike Drilling has been engaged to undertake 2,500m of RC drilling at the Tambourah Lithium Project in WA’s Pilbara’s region.
An earthmoving contractor has already been mobilised to upgrade access roads, prepare tracks and drill pads.
Riversgold will drill test its three priority lithium targets at Bengal, Lion and Ragdoll in the northwestern corner of the main Tambourah tenement with the program set to begin as soon as site preparations are complete.
SGS Canada has been appointed to complete a technical report on the Mavis Lake Lithium Project, including the determination of a mineral resource estimate (MRE).
Whilst drilling continues at Mavis Lake, CRR and SGS will begin preliminary work to determine the data set and drilling information for the purpose of defining a maiden MRE.
Under the terms of the engagement, Critical Resources expects the MRE to be announced in Q1, 2023.
Additional drilling data will continue to be gathered, as the current drilling program is scheduled to run into the Canadian winter.