Ford plans to secure 100% of the annual battery cell capacity needed by working with leading battery companies around the globe and suppliers of raw materials. Pic: Getty Images
Mining
Here’s all your ASX lithium news for Friday, July 22.
US car manufacturer Ford is taking a gung-ho approach to reaching its target annual run rate of 600,000 electric vehicles by late 2023 and more than 2m at the end of 2026.
The company plans to secure 100% of the annual battery cell capacity needed (or 60 gigawatt hours) by working with leading battery companies around the globe and suppliers of raw materials such as ASX-listed, US focused lithium explorer Ioneer (ASX:INR).
We’ll talk more about that deal later because Ford has also come out saying that Chinese battery manufacturer, Contemporary Amperex Technology Co (CATL) will provide full lithium iron phosphate (LFP) battery packs for its Mustang Mach-E models in North America, starting next year as well as F-150 Lightnings in early 2024.
We’ve secured 100% of the annual battery cell capacity needed to globally produce 600K #EVs a year by late 2023 w/ the following @Ford #EVs!
✅ 270K #MustangMachE (NA, EU, & China)
✅ 150K #F150Lightning (NA)
✅ 150K #ETransit EVs (NA & EU)
✅ 30K All-New SUV for Europe pic.twitter.com/ps3GnQgizO— Ford Motor Company (@Ford) July 21, 2022
The car manufacturer is leveraging its long-standing connection with LG Energy Solution (LGES) and its strategic relationship with SK On to meet its battery capacity target for late 2023.
Long-time supplier LGES has scaled quickly and doubled its capacity at its Wroclaw, Poland, facility to support incremental nickel-cobalt-manganese (NCM) cell production for Mustang Mach-E and E-Transit models.
And SK On has installed capacity to support the scaling of Ford’s high-volume F-150 Lightning and E-Transits through late 2023 – scaling NCM cell production beyond earlier-planned levels from its Atlanta facility and providing new battery cell capacity from its Hungary operation.
The car manufacturer is building on agreements tied to its 600,000-run rate milestone and is taking them even further, having already sourced roughly 70% of the battery cell capacity it needs to support an annual global run rate of more than 2 million EVs by late 2026.
Ford and CATL – the world’s largest battery producer – have signed a separate non-binding MOU to explore a cooperation for supplying batteries in Ford’s markets across China, Europe and North America.
The company says it has also sourced most of the nickel needed through 2026 and beyond.
Stockhead’s Emma Davies has the latest on Ford’s prototype robot charging station, which drivers can operate via their smartphone from inside their electric vehicle.
Read about it here.
| CODE | COMPANY | PRICE | 1 MONTH RETURN % | 1 WEEK RETURN % | RETURN TODAY % | MARKET CAP |
|---|---|---|---|---|---|---|
| M2R | Miramar | 0.1 | 12% | 11% | 15% | $5,584,239.68 |
| IPT | Impact Minerals | 0.008 | 0% | 14% | 14% | $17,369,593.89 |
| AUN | Aurumin | 0.16 | 28% | 14% | 14% | $15,291,255.28 |
| KGD | Kula Gold Limited | 0.033 | 22% | 6% | 14% | $6,240,093.33 |
| MLS | Metals Australia | 0.052 | 13% | 13% | 13% | $26,129,664.79 |
| SHH | Shree Minerals Ltd | 0.009 | 29% | 13% | 13% | $9,907,895.14 |
| KZR | Kalamazoo Resources | 0.225 | 2% | -6% | 13% | $29,038,874.80 |
| MRR | Minrex Resources Ltd | 0.038 | 9% | 15% | 12% | $36,044,996.67 |
| TYX | Tyranna Res Ltd | 0.02 | 25% | 0% | 11% | $27,582,492.01 |
| ZNC | Zenith Minerals Ltd | 0.315 | 17% | 21% | 11% | $98,257,249.52 |
| LRD | Lordresourceslimited | 0.215 | 26% | 5% | 10% | $6,198,001.10 |
| ZEO | Zeotech Limited | 0.054 | 4% | 26% | 9% | $75,483,315.77 |
| LEL | Lithenergy | 0.85 | 20% | 25% | 9% | $35,217,000.00 |
| BMM | Balkanminingandmin | 0.2 | 0% | 5% | 8% | $6,058,750.00 |
| EMS | Eastern Metals | 0.135 | 4% | -10% | 8% | $4,450,000.00 |
| EFE | Eastern Resources | 0.028 | 27% | 8% | 8% | $25,855,352.41 |
| IR1 | Irismetals | 0.295 | 23% | 16% | 7% | $16,396,875.00 |
| AML | Aeon Metals Ltd. | 0.03 | 36% | 3% | 7% | $27,751,677.04 |
| QXR | Qx Resources Limited | 0.032 | 39% | 19% | 7% | $25,780,869.63 |
| MXR | Maximus Resources | 0.05 | 9% | 9% | 6% | $14,941,571.10 |
| LRV | Larvottoresources | 0.2175 | 1% | 12% | 6% | $8,514,162.50 |
| RLC | Reedy Lagoon Corp. | 0.019 | 19% | 12% | 6% | $10,033,684.42 |
| GL1 | Globallith | 1.155 | -2% | 7% | 5% | $173,774,590.32 |
| LRS | Latin Resources Ltd | 0.082 | 28% | 17% | 5% | $151,724,802.84 |
| LLL | Leolithiumlimited | 0.43 | 0% | 12% | 5% | $404,529,333.92 |
| TKM | Trek Metals Ltd | 0.067 | 6% | 22% | 5% | $19,879,049.60 |
| BNR | Bulletin Res Ltd | 0.115 | -12% | 5% | 5% | $32,185,021.00 |
| DAF | Discovery Alaska Ltd | 0.048 | -4% | 9% | 4% | $10,314,796.11 |
| AS2 | Askarimetalslimited | 0.245 | -13% | 9% | 4% | $10,591,278.45 |
| INR | Ioneer Ltd | 0.515 | 32% | 14% | 4% | $1,038,209,513.22 |
| INF | Infinity Lithium | 0.135 | 17% | 23% | 4% | $53,951,698.58 |
| PGD | Peregrine Gold | 0.44 | 13% | 5% | 4% | $16,271,834.33 |
| LPD | Lepidico Ltd | 0.031 | 24% | 15% | 3% | $195,215,145.99 |
| BYH | Bryah Resources Ltd | 0.032 | 3% | 14% | 3% | $7,012,422.43 |
| PNN | Power Minerals Ltd | 0.48 | 28% | 17% | 3% | $28,605,342.23 |
| AX8 | Accelerate Resources | 0.033 | 18% | 14% | 3% | $8,654,684.77 |
| NWM | Norwest Minerals | 0.033 | 18% | 18% | 3% | $5,779,436.38 |
| MQR | Marquee Resource Ltd | 0.072 | 16% | 9% | 3% | $22,093,230.60 |
| VUL | Vulcan Energy | 7.28 | 31% | 25% | 3% | $1,014,813,931.08 |
| WR1 | Winsome Resources | 0.195 | -7% | 3% | 3% | $25,671,658.86 |
| GW1 | Greenwing Resources | 0.225 | 10% | -4% | 2% | $27,114,416.78 |
| CHR | Charger Metals | 0.48 | 23% | 9% | 2% | $15,313,086.45 |
| GSM | Golden State Mining | 0.049 | 11% | 17% | 2% | $5,588,223.31 |
| NMT | Neometals Ltd | 1.05 | 12% | 11% | 2% | $564,827,687.88 |
| KTA | Krakatoa Resources | 0.06 | 9% | 28% | 2% | $20,337,885.10 |
| CAI | Calidus Resources | 0.62 | -2% | -7% | 2% | $248,776,884.38 |
| LPI | Lithium Pwr Int Ltd | 0.4725 | 29% | 18% | 2% | $162,352,354.32 |
| PSC | Prospect Res Ltd | 1.015 | 5% | 3% | 2% | $462,259,462.00 |
| GLN | Galan Lithium Ltd | 1.125 | 6% | 15% | 1% | $337,883,291.82 |
| AKE | Allkem Limited | 10.23 | 1% | 3% | 1% | $6,446,723,249.46 |
| OCN | Oceanalithiumlimited | 0.47 | 0% | 29% | 1% | $15,589,125.00 |
| FG1 | Flynngold | 0.1 | -5% | 0% | 1% | $6,342,043.95 |
| TUL | Tulla Resources | 0.54 | 10% | 2% | 1% | $85,716,026.52 |
| RIO | Rio Tinto Limited | 96.3 | -7% | 0% | 0% | $35,573,649,787.62 |
| WES | Wesfarmers Limited | 47.64 | 11% | 5% | 0% | $53,959,457,116.78 |
| AGY | Argosy Minerals Ltd | 0.37 | 17% | 12% | 0% | $501,738,865.19 |
| 1MC | Morella Corporation | 0.017 | 0% | 0% | 0% | $87,995,637.76 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203.44 |
| ESS | Essential Metals Ltd | 0.43 | 21% | 18% | 0% | $105,989,592.75 |
| PLL | Piedmont Lithium Inc | 0.545 | -22% | 7% | 0% | $287,526,086.00 |
| TKL | Traka Resources | 0.006 | 0% | 20% | 0% | $4,132,647.37 |
| TON | Triton Min Ltd | 0.023 | 0% | 44% | 0% | $28,952,036.07 |
| ARN | Aldoro Resources | 0.145 | 0% | 4% | 0% | $14,418,410.97 |
| PAM | Pan Asia Metals | 0.38 | -17% | -1% | 0% | $28,089,691.96 |
| DTM | Dart Mining NL | 0.062 | 17% | -5% | 0% | $8,386,129.92 |
| IMI | Infinitymining | 0.13 | -4% | -4% | 0% | $7,475,000.00 |
| MMC | Mitremining | 0.125 | 0% | 0% | 0% | $3,385,637.50 |
| RAG | Ragnar Metals Ltd | 0.037 | -3% | -5% | 0% | $14,029,840.89 |
| TMB | Tambourahmetals | 0.16 | 10% | 7% | 0% | $6,590,815.68 |
| TEM | Tempest Minerals | 0.045 | 22% | -4% | 0% | $22,714,477.92 |
| TSC | Twenty Seven Co. Ltd | 0.003 | 0% | 0% | 0% | $7,982,441.72 |
| WCN | White Cliff Min Ltd | 0.014 | -18% | 17% | 0% | $9,150,447.07 |
| MTM | Mtmongerresources | 0.11 | -8% | -8% | 0% | $4,126,103.63 |
| SCN | Scorpion Minerals | 0.068 | -6% | -3% | 0% | $22,564,521.06 |
| AZI | Altamin Limited | 0.096 | 1% | 1% | 0% | $37,604,808.19 |
| ENT | Enterprise Metals | 0.01 | -17% | -9% | 0% | $6,446,468.55 |
| KAI | Kairos Minerals Ltd | 0.023 | 28% | 0% | 0% | $45,128,150.29 |
| STM | Sunstone Metals Ltd | 0.051 | 28% | 21% | 0% | $132,418,767.37 |
| RMX | Red Mount Min Ltd | 0.007 | 17% | 8% | 0% | $11,496,547.01 |
| RDT | Red Dirt Metals Ltd | 0.35 | -3% | -1% | 0% | $106,594,049.10 |
| SRZ | Stellar Resources | 0.016 | -6% | 7% | 0% | $13,428,842.02 |
| AOA | Ausmon Resorces | 0.006 | 20% | 20% | 0% | $5,143,736.06 |
| VKA | Viking Mines Ltd | 0.007 | 17% | 17% | 0% | $7,176,809.02 |
| SRI | Sipa Resources Ltd | 0.038 | 0% | -5% | 0% | $7,790,942.51 |
| VMC | Venus Metals Cor Ltd | 0.17 | 6% | 6% | 0% | $27,213,376.11 |
| RGL | Riversgold | 0.028 | -3% | 4% | 0% | $21,178,527.97 |
| G88 | Golden Mile Res Ltd | 0.027 | -29% | -4% | 0% | $5,500,780.58 |
| EVR | Ev Resources Ltd | 0.03 | 15% | 11% | 0% | $27,779,522.13 |
| THR | Thor Mining PLC | 0.01 | 25% | 11% | 0% | $10,689,009.73 |
| CZL | Cons Zinc Ltd | 0.019 | 0% | -5% | 0% | $6,903,798.45 |
| MM1 | Midasmineralsltd | 0.195 | 5% | 11% | 0% | $11,140,693.98 |
| XTC | Xantippe Res Ltd | 0.008 | 14% | 14% | 0% | $63,689,188.51 |
| MMG | Monger Gold Ltd | 0.23 | 0% | 7% | 0% | $9,209,200.00 |
| WMC | Wiluna Mining Corp | 0.205 | -31% | 5% | 0% | $74,238,030.68 |
| ALY | Alchemy Resource Ltd | 0.018 | 20% | 20% | 0% | $17,155,333.03 |
| FTL | Firetail Resources | 0.235 | -19% | 18% | 0% | $14,518,887.50 |
| LNR | Lanthanein Resources | 0.016 | 0% | 7% | 0% | $13,405,209.12 |
| DAL | Dalaroometalsltd | 0.1 | 5% | 0% | 0% | $2,987,500.00 |
| CY5 | Cygnus Gold Limited | 0.15 | -3% | 3% | 0% | $17,697,797.25 |
| MIN | Mineral Resources. | 47.26 | -4% | 1% | -1% | $9,006,015,695.55 |
| LIS | Lisenergylimited | 0.77 | 67% | 32% | -1% | $128,583,494.93 |
| CXO | Core Lithium | 1.0575 | 5% | 18% | -1% | $1,845,874,737.54 |
| JRL | Jindalee Resources | 2.58 | -11% | -1% | -1% | $149,185,311.60 |
| EMH | European Metals Hldg | 0.78 | 19% | 24% | -1% | $94,691,664.14 |
| SYA | Sayona Mining Ltd | 0.1875 | 34% | 34% | -1% | $1,566,883,007.30 |
| EUR | European Lithium Ltd | 0.074 | 35% | 10% | -1% | $103,836,855.98 |
| PLS | Pilbara Min Ltd | 2.525 | 19% | 3% | -1% | $7,620,731,863.04 |
| LIT | Lithium Australia | 0.072 | 4% | 1% | -1% | $75,584,880.73 |
| AOU | Auroch Minerals Ltd | 0.063 | -13% | 5% | -2% | $23,660,915.14 |
| IGO | IGO Limited | 9.915 | -5% | 0% | -2% | $7,640,832,233.17 |
| NVA | Nova Minerals Ltd | 0.72 | 20% | 2% | -2% | $132,448,679.48 |
| A8G | Australasian Metals | 0.23 | 12% | 15% | -2% | $9,675,066.09 |
| GT1 | Greentechnology | 0.685 | -2% | 9% | -2% | $128,988,750.10 |
| CRR | Critical Resources | 0.043 | -7% | 13% | -2% | $65,472,670.52 |
| RAS | Ragusa Minerals Ltd | 0.074 | -14% | -14% | -3% | $9,555,947.86 |
| LTR | Liontown Resources | 1.205 | 18% | 24% | -3% | $2,718,359,245.52 |
| AM7 | Arcadia Minerals | 0.145 | -28% | 4% | -3% | $7,004,683.80 |
| QPM | Queensland Pacific | 0.14 | 40% | 8% | -3% | $226,723,904.00 |
| ASN | Anson Resources Ltd | 0.13 | 24% | 13% | -4% | $138,768,165.23 |
| DRE | Dreadnought Resources Ltd | 0.049 | 14% | 0% | -4% | $144,772,861.10 |
| LKE | Lake Resources | 0.715 | -26% | 18% | -4% | $1,035,333,879.97 |
| AZL | Arizona Lithium Ltd | 0.081 | -12% | -5% | -5% | $189,847,244.15 |
| EPM | Eclipse Metals | 0.02 | 0% | 0% | -5% | $40,343,654.67 |
| ADV | Ardiden Ltd | 0.0085 | 6% | 42% | -6% | $24,015,018.20 |
| FRS | Forrestaniaresources | 0.15 | 3% | 11% | -6% | $4,973,808.64 |
| AAJ | Aruma Resources Ltd | 0.064 | -4% | 7% | -7% | $10,830,343.71 |
| WC8 | Wildcat Resources | 0.024 | -14% | -4% | -8% | $16,777,090.90 |
| MNS | Magnis Energy Tech | 0.325 | 8% | 14% | -8% | $343,102,291.80 |
| WML | Woomera Mining Ltd | 0.0145 | -15% | -15% | -9% | $10,989,329.06 |
| AVW | Avira Resources Ltd | 0.0035 | 0% | 17% | -13% | $8,475,160.00 |
| LSR | Lodestar Minerals | 0.006 | 0% | 0% | -14% | $12,169,061.44 |
55 lithium companies have ended the day in green territory, 46 have fallen flat while another 32 are down in the red.
Under the Ford agreement, INR will supply Ford with lithium carbonate from its Rhyolite Ridge Lithium-Boron Project in Nevada – around 7,000tpa of it over a five-year term starting in 2025.
Ford intends to utilise ioneer’s lithium carbonate to produce batteries for use in Ford electric vehicles through BlueOval SK, the Ford-SK On battery manufacturing joint venture.
INR is expected to produce an annual average of approximately 20,600 tonnes of lithium carbonate/hydroxide along with approximately 174,400 tonnes of boric acid per year over the Rhyolite Ridge project’s 26-year life.
GL1 has returned significant intersections of lithium bearing pegmatites from a recent drill program at the Manna Lithium Project, 100km east of Kalgoorlie in Western Australia.
The Diamond Drilling (DD) campaign is showing that the Manna Lithium bearing pegmatites extend up to 150m down dip past the current resource outline, with even deeper DD planned to test the extent of the known deposit at depth.
An initial 4,000m DD program commenced on schedule in June and is being undertaken by experienced drilling contractor, Mt Magnet Drilling.
GL1 says the RC drilling program’s standout result was from a single hole drilled within the known resource returning multiple wide LCT pegmatite intercepts of greater than 10m, further confirming the potential of the Manna Lithium deposit.
The company is expecting the DD crew to start a double shift roster in the next 10 days, further accelerating the results from the drilling program.
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