Pic: Getty
Mining
American multinational investment bank, Morgan Stanley, has warned electric vehicle battery makers will need to lift their prices by roughly 25% to keep up with soaring lithium carbonate prices.
The firm says “demand destruction” is likely, especially considering Chinese prices for lithium carbonate (the key ingredient in many batteries) have jumped fivefold over the past year.
“Historically, the battery price cost curve had been declining at a pace of 3% to 7% annually for so many years in a row it almost seemed inevitable,” the analysts said.
“But molecules don’t play by the same rules as Moore’s Law – the world has changed, and along with it is a new paradigm of input costs.”
While most battery manufacturers in China buy the material on the spot market rather than though long-term contracts, Morgan Stanley says there’s scope for “profound” long-term changes in the battery industry.
“Tesla’s scale, technology and vertical integration make it best placed to address the challenges relative to other EV manufacturers,” it said.
Benchmark Minerals says China’s largest battery recycling company, GEM Co plans to invest in Europe’s battery supply chain to help customers meet proposed European Union rules that will mandate the use of recycled battery raw materials.
The European Union is hoping to mandate the amount of recycled content in lithium ion batteries must use by the end of this decade.
These revisions to the European Union’s 2006 Battery Directive aim to encourage the development of battery recycling facilities across the European continent and reduce the region’s reliance on foreign suppliers of critical minerals.
GEM is a leading recycler of electronic waste and a large producer of nickel cathode battery materials with clients including Toyota, Samsung, CATL, and BYD.
According to Benchmark, the policy mandates by the European Union are attracting Chinese companies who have years of recycling experience.
“By 2030 the EU will require that lithium ion batteries in the bloc are made up of at least 12% recycled cobalt, 4% nickel, and 4% lithium,” it said.
“By 2035, that will rise to 20%, 12%, and 10% of the total amount of materials used.”
Lithium stocks missing from our list? Shoot a friendly mail to [email protected].
| CODE | COMPANY | PRICE | % Month | % Week | % Today | Market Cap |
|---|---|---|---|---|---|---|
| SHH | Shree Minerals Ltd | 0.016 | -11% | 0% | 14% | $17,111,316.49 |
| MM1 | Midasmineralsltd | 0.34 | 113% | 62% | 13% | $16,331,437.50 |
| RDT | Red Dirt Metals Ltd | 0.6 | 15% | -10% | 13% | $158,874,284.53 |
| VMC | Venus Metals Cor Ltd | 0.2 | 5% | 8% | 11% | $27,194,162.94 |
| LRS | Latin Resources Ltd | 0.2025 | 382% | -6% | 9% | $305,101,930.07 |
| KZR | Kalamazoo Resources | 0.43 | 43% | 26% | 9% | $57,351,777.73 |
| LRV | Larvottoresources | 0.27 | 46% | 15% | 8% | $10,301,875.00 |
| ARN | Aldoro Resources | 0.275 | -19% | -7% | 8% | $22,953,465.20 |
| ADV | Ardiden Ltd | 0.014 | 8% | 0% | 8% | $34,588,350.63 |
| RGL | Riversgold | 0.075 | 136% | -20% | 7% | $36,855,292.11 |
| LSR | Lodestar Minerals | 0.017 | 42% | -15% | 6% | $27,814,997.57 |
| THR | Thor Mining PLC | 0.017 | 21% | 0% | 6% | $16,222,261.30 |
| AM7 | Arcadia Minerals | 0.26 | 16% | -5% | 6% | $8,573,162.50 |
| SRI | Sipa Resources Ltd | 0.053 | -2% | 4% | 6% | $10,251,240.15 |
| NWM | Norwest Minerals | 0.06 | -10% | -3% | 5% | $10,294,621.06 |
| LRD | Lordresourceslimited | 0.21 | 0% | 5% | 5% | $6,156,924.20 |
| FFX | Firefinch Ltd | 1.115 | 40% | 0% | 5% | $1,258,024,030.37 |
| RAG | Ragnar Metals Ltd | 0.049 | 56% | 44% | 4% | $17,516,189.78 |
| WML | Woomera Mining Ltd | 0.026 | 44% | 18% | 4% | $17,170,826.65 |
| PAM | Pan Asia Metals | 0.55 | 7% | 0% | 4% | $39,039,081.32 |
| SRZ | Stellar Resources | 0.03 | 11% | 11% | 3% | $24,281,776.15 |
| AZI | Altamin Limited | 0.092 | 35% | -1% | 3% | $34,609,603.73 |
| PLL | Piedmont Lithium Inc | 0.95 | -1% | 4% | 3% | $485,365,136.00 |
| INF | Infinity Lithium | 0.165 | 14% | -6% | 3% | $66,372,710.56 |
| WR1 | Winsome Resources | 0.495 | 39% | -3% | 3% | $64,646,397.12 |
| WCN | White Cliff Min Ltd | 0.034 | 31% | -6% | 3% | $21,568,910.95 |
| AML | Aeon Metals Ltd. | 0.072 | 50% | -3% | 3% | $60,606,622.16 |
| EPM | Eclipse Metals | 0.038 | 23% | 0% | 3% | $71,081,677.28 |
| AVZ | AVZ Minerals Ltd | 1.18 | 32% | 3% | 3% | $4,058,039,210.20 |
| ZNC | Zenith Minerals Ltd | 0.4 | 18% | -4% | 3% | $134,122,620.45 |
| DRE | Dreadnought Resources Ltd | 0.044 | 10% | -2% | 2% | $122,063,392.69 |
| LIT | Lithium Australia NL | 0.1125 | 7% | 2% | 2% | $113,757,734.64 |
| WMC | Wiluna Mining Corp | 0.92 | -2% | 4% | 2% | $190,183,450.50 |
| MQR | Marquee Resource Ltd | 0.1175 | 19% | 2% | 2% | $31,388,185.79 |
| KGD | Kula Gold Limited | 0.05 | 14% | 2% | 2% | $10,543,605.97 |
| A8G | Australasian Metals | 0.505 | 7% | -1% | 2% | $19,884,394.53 |
| JRL | Jindalee Resources | 4.74 | 66% | 17% | 2% | $264,952,191.90 |
| AKE | Allkem Limited | 13.51 | 28% | 4% | 2% | $8,455,346,220.36 |
| AX8 | Accelerate Resources | 0.063 | 34% | -3% | 2% | $15,714,451.74 |
| G88 | Golden Mile Res Ltd | 0.064 | 3% | 2% | 2% | $12,646,154.68 |
| NMT | Neometals Ltd | 1.765 | 20% | 1% | 1% | $954,174,929.04 |
| MRR | Minrex Resources Ltd | 0.074 | 32% | -6% | 1% | $65,747,522.49 |
| MXR | Maximus Resources | 0.085 | 25% | 13% | 1% | $26,704,084.51 |
| LKE | Lake Resources | 2.04 | 58% | -3% | 1% | $2,590,956,803.66 |
| MIN | Mineral Resources. | 62.33 | 34% | 3% | 1% | $11,670,943,039.80 |
| IGO | IGO Limited | 13.91 | 9% | -3% | 1% | $10,473,013,853.79 |
| GT1 | Greentechnology | 0.96 | 28% | 5% | 1% | $101,230,000.00 |
| CXO | Core Lithium | 1.37 | 26% | -1% | 0% | $2,343,407,330.36 |
| PLS | Pilbara Min Ltd | 2.965 | 3% | -11% | 0% | $8,811,429,211.28 |
| RIO | Rio Tinto Limited | 120.68 | 8% | 2% | 0% | $44,731,553,787.00 |
| ASN | Anson Resources Ltd | 0.15 | 30% | -6% | 0% | $153,217,733.25 |
| GXY | Galaxy Resources | 0 | -100% | -100% | 0% | $2,715,139,305.12 |
| INR | Ioneer Ltd | 0.715 | 40% | -2% | 0% | $1,494,742,105.29 |
| LPD | Lepidico Ltd | 0.039 | 22% | -7% | 0% | $245,416,764.96 |
| LTR | Liontown Resources | 1.66 | 3% | -11% | 0% | $3,639,093,828.68 |
| QPM | Queensland Pacific | 0.19 | 31% | -7% | 0% | $293,191,494.89 |
| RLC | Reedy Lagoon Corp. | 0.034 | 31% | 0% | 0% | $18,644,145.82 |
| TON | Triton Min Ltd | 0.031 | 7% | -9% | 0% | $38,526,309.49 |
| GL1 | Globallith | 2.28 | 43% | -7% | 0% | $359,822,244.72 |
| LEL | Lithenergy | 1.005 | 12% | 0% | 0% | $45,225,000.00 |
| DTM | Dart Mining NL | 0.081 | 1% | -2% | 0% | $10,083,765.33 |
| FG1 | Flynngold | 0.17 | 6% | -11% | 0% | $10,890,378.50 |
| IMI | Infinitymining | 0.185 | 3% | 6% | 0% | $10,637,500.00 |
| TMB | Tambourahmetals | 0.26 | 27% | -7% | 0% | $10,710,075.48 |
| TEM | Tempest Minerals | 0.1 | 355% | -20% | 0% | $39,790,089.80 |
| MTM | Mtmongerresources | 0.195 | 26% | -5% | 0% | $6,758,706.44 |
| QXR | Qx Resources Limited | 0.077 | 67% | -11% | 0% | $63,976,398.72 |
| STM | Sunstone Metals Ltd | 0.07 | -9% | -4% | 0% | $156,766,468.53 |
| PGD | Peregrine Gold | 0.48 | -6% | -4% | 0% | $18,377,601.12 |
| AVW | Avira Resources Ltd | 0.006 | 20% | -14% | 0% | $12,712,740.00 |
| EFE | Eastern Resources | 0.051 | 9% | -12% | 0% | $50,716,268.18 |
| VKA | Viking Mines Ltd | 0.011 | -8% | 0% | 0% | $11,277,842.74 |
| IPT | Impact Minerals | 0.013 | -7% | -7% | 0% | $28,476,000.62 |
| RAS | Ragusa Minerals Ltd | 0.088 | 60% | 1% | 0% | $11,057,889.04 |
| WC8 | Wildcat Resources | 0.035 | 17% | 0% | 0% | $22,584,545.45 |
| CZL | Cons Zinc Ltd | 0.03 | 7% | -21% | 0% | $10,540,734.39 |
| M2R | Miramar | 0.19 | 9% | 9% | 0% | $9,464,853.80 |
| AOU | Auroch Minerals Ltd | 0.13 | 13% | -7% | 0% | $46,969,233.87 |
| XTC | Xantippe Res Ltd | 0.014 | 100% | -7% | 0% | $105,562,857.69 |
| VUL | Vulcan Energy | 9.02 | -4% | -11% | 0% | $1,188,755,162.70 |
| GLN | Galan Lithium Ltd | 2.02 | 43% | -6% | 0% | $617,906,344.86 |
| PNN | PepinNini Minerals | 0.84 | 100% | 35% | -1% | $51,742,150.33 |
| CHR | Charger Metals | 0.75 | 12% | -6% | -1% | $24,586,097.84 |
| MNS | Magnis Energy Tech | 0.47 | 7% | -4% | -1% | $458,748,031.28 |
| FRS | Forrestaniaresources | 0.345 | 3% | -3% | -1% | $9,834,581.40 |
| AS2 | Askarimetalslimited | 0.685 | 76% | 5% | -1% | $26,977,316.69 |
| EMH | European Metals Hldg | 1.325 | 16% | -3% | -1% | $189,345,017.93 |
| EVR | Ev Resources Ltd | 0.062 | 32% | 0% | -2% | $58,336,996.47 |
| BYH | Bryah Resources Ltd | 0.055 | 17% | 8% | -2% | $12,667,601.80 |
| ESS | Essential Metals Ltd | 0.54 | 44% | 0% | -2% | $134,388,848.00 |
| AGY | Argosy Minerals Ltd | 0.485 | 37% | -8% | -2% | $670,131,277.20 |
| GSM | Golden State Mining | 0.088 | 13% | -20% | -2% | $7,477,918.65 |
| EUR | European Lithium Ltd | 0.1075 | 8% | -23% | -2% | $152,120,499.96 |
| SCN | Scorpion Minerals | 0.081 | 25% | 21% | -2% | $22,369,013.94 |
| AZL | Arizona Lithium Ltd | 0.175 | 25% | -8% | -3% | $399,938,253.66 |
| SYA | Sayona Mining Ltd | 0.345 | 116% | 1% | -3% | $2,536,619,522.28 |
| 1MC | Morella Corporation | 0.034 | 36% | -8% | -3% | $181,167,489.51 |
| CAI | Calidus Resources | 1.02 | 20% | 6% | -3% | $422,411,858.40 |
| LPI | Lithium Pwr Int Ltd | 0.83 | 37% | -7% | -3% | $298,518,845.04 |
| AAJ | Aruma Resources Ltd | 0.15 | 83% | -9% | -3% | $24,329,032.97 |
| KAI | Kairos Minerals Ltd | 0.03 | 25% | 0% | -3% | $60,824,898.22 |
| MMG | Monger Gold Ltd | 0.3 | 20% | 15% | -3% | $7,750,000.00 |
| CRR | Critical Resources | 0.084 | 17% | -6% | -3% | $129,308,625.83 |
| NVA | Nova Minerals Ltd | 0.825 | 29% | -13% | -4% | $154,973,965.10 |
| PSC | Prospect Res Ltd | 0.8725 | 3% | -1% | -4% | $392,477,246.07 |
| BNR | Bulletin Res Ltd | 0.22 | 47% | -15% | -4% | $66,718,737.18 |
| TKL | Traka Resources | 0.0105 | 5% | -13% | -5% | $7,576,520.17 |
| EMS | Eastern Metals | 0.2 | 8% | -7% | -5% | $7,476,000.00 |
| RMX | Red Mount Min Ltd | 0.009 | 13% | 0% | -5% | $15,602,456.65 |
| MLS | Metals Australia | 0.175 | 146% | 35% | -5% | $67,326,697.58 |
| BMM | Balkanminingandmin | 0.345 | 25% | -7% | -5% | $11,953,750.00 |
| AOA | Ausmon Resorces | 0.011 | 38% | 22% | -8% | $10,287,472.12 |
| ENT | Enterprise Metals | 0.021 | 50% | 5% | -9% | $14,826,877.67 |
| TSC | Twenty Seven Co. Ltd | 0.004 | 0% | 0% | -11% | $11,973,662.57 |
| MMC | Mitremining | 0.19 | 6% | -5% | -12% | $5,823,296.50 |
A massive 64 companies finished in the red this week, while 15 flatlined and another 36 ending up in the green.
LRS says it has carried out a ‘transformational’ placement to expedite its lithium business in Brazil with plans in place to begin an “aggressive” resource definition program for the Bannal Valley prospect at the Salinas Project.
Anchored by Canadian cornerstone investor, Electrification and Decarbonisation AIE LP Fund (a 100% subsidiary of Toronto based Waratah Capital Advisers), the lithium explorer says demand for the placement was “strong” and was also supported by several institutional investors in Australia, North America, and Asia.
It hopes to secure a further two rigs to take the total fleet to four rigs in Brazil, with a focus on drilling at least 25,000 to drive that prospect towards a maiden JORC mineral resource estimate.
Another 5,000 metres of drilling will then be carried out at each of the Monte Alto and Salina South prospects.
Elsewhere, LRS is quickly advancing the Cloud Nine Halloysite-Kaolin Deposit in Western Australia, with key feasibility studies underway targeting delivery of an upgrade of the mineral resource, and in a parallel undertaking a fast-start Direct Shipping Ore (DSO) Study.
Global lithium chemicals company Allkem reported a record-breaking third quarter with its Mt Cattlin lithium operation in Ravensthorpe, WA having generated US$143.8mn in revenue.
In its latest quarterly update, AKE said Mt Cattlin produced 48,562 dmt of spodumene concentrate at 5.4% lithium oxide at a time when lithium carbonate and hydroxide spot continued to rally to new records.
“Spodumene concentrate spot prices also registered records during the quarter, roughly double the prices of the December quarter,” the company said.
“Demand for lithium carbonate in China remained strong during the March quarter in response to dominance of LFP battery formats (lithium, iron, phosphate) in the domestic market which represented more than 55% of battery chemistries.”
AKE affirmed its strategy to increase lithium production by three-fold by 2026 to maintain a 10% share of the global lithium market over the next decade.
It also intends to increase the Olaroz resource in northern Argentina by more than two times its current 6.4Mt lithium carbonate equivalent to 16.2Mt LCE.
Mining
Mining
Mining
Get the latest Stockhead news delivered free to your inbox.
