Eye on Lithium: Japan’s Mitsubishi joins the ranks of car makers clamouring to secure lithium supply
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All your lithium news, Monday April 17.
Japan’s Mitsubishi is toying with the idea to invest directly into lithium and nickel mines to secure the raw material supply it needs to electrify fleets and meet rising demand for EV batteries.
Mitsubishi mineral resources group CEO, Satoshi Koyama, made the call at an analyst meeting, flagging Canada and Australia as two potential location options as they both “meet the criteria of safety from the perspective of geopolitical risk and access to renewable power”.
According to Reuters, Koyama said if the sale of the Daunia and Blackwater metallurgical coal mines in Queensland comes through, Mitsubishi and joint venture partner BHP (ASX:BHP) may allocate cash into growth segments such as battery metals.
A total of 49 companies finished up, 53 fell flat, and 49 tumbled into the red.
Lake Resources and Lilac Solutions have produced 2,500kg of lithium carbonate equivalent at Kachi in Argentina.
Based on this result, Lilac has increased its ownership of the Kachi Project from 10% to 20% with Kachi now on track to move from its pilot phase into commercial-scale development, which will make it the first lithium brine project in South America to produce lithium at commercial scale without the use of evaporation ponds for lithium concentration.
This is the first successful implementation of ion exchange for lithium production in South America, home to most of the world’s lithium brine resources.
Sayona has expanded its lithium resource at the Moblan project with measured, indicated, and inferred resources totalling 70.9Mt at 1.15% Li2O which represents one of North America’s single largest lithium resources.
This includes higher grade tonnage opportunities with measured, indicated, and inferred resource of 51.4Mt at 1.31% Li2O.
The company plans to enhance the resource further through additional drilling, with 60,000m of extra drilling planned at Moblan.
Leeuwin Metals says sampling of two old holes has returned thick, high-grade lithium at the Kenpeg project, confirming the company’s belief that the region has the potential to be a significant lithium district within Manitoba, Canada.
LM1 now plans to complete additional sampling of historical holes drilled by TANCO in the 1980s.
On-the-ground exploration will ramp up in the summer season, focusing on over 6km of mapped pegmatite swarms.
Megado has identified over 400 lithium-bearing pegmatite targets at the Cyclone lithium project in Canada James Bay region during recent hyperspectral imagery analysis.
The interpretation was conducted by Terra Resources, who relied on Aster and Sentinel-2 satellite imagery, in conjunction with proprietary algorithms that target lithium bearing pegmatites.
Terra’s analyses identified 415 occurrences of potential lithium bearing pegmatite within the 130km2 Cyclone project area, with some clusters over 4km in length, with individual targets in the order of 10’s to 100’s of metres in length.
Megado says it is excited to follow up this work with a systematic program of ground truthing during the upcoming summer field season.
Discovery Alaska has entered into a heads of agreement (HOA) with 1Life holdings for the exclusive rights to acquire 100% of the Mia Adjacent Lithium project in Canada’s James Bay region.
The HOA’s allow DAF to conduct due diligence works at each project for a 75-day period from March 4, including exploration activities.
DAF intends to conduct due diligence works and begin exploration planning works to target prospective sites identified from historical activities and develop a comprehensive lithium exploration program for the three projects during this time.
Westar has completed due diligence at the Olga Rocks lithium-gold project and has entered into a 12-month option period.
The due diligence period included extensive data complication, reconnaissance field programs, rock chip sampling and orientation soil sampling that Westar believes has confirmed the presence of a fractionated pegmatite.
“Westar geologists have leveraged the location of pegmatites observed in historical gold drilling to design a ‘Proof of Concept’ maiden RC drilling campaign, with all permitting and approvals in place,” WSR executive director Lindsday Franker says.