• The surge in battery raw material prices has led to speculation that automotive companies could switch out their preferred battery types for cheaper options
  • BMW announced it will be switching to the next generation of lower cost batteries for its new electric vehicle platform from 2025 
  • Aldoro Resources kicks off maiden drilling at its Wyemandoo critical metal pegmatite project in WA

 

Battery raw material prices have been rising sharply since the start of 2021, causing speculation that automotive companies could switch out their preferred battery types for cheaper options.

While LFP has traditionally been the lowest cost pack, the continuous lithium price hike – up over 700% since 2021 – and recent surge in other battery metals such as nickel, which reached $100,000 a tonne on the LME in March (and doubling its previous all-time high) has led to a surge in battery pack prices.

According to S&P Global Market Intelligence, Chinese battery metal costs in March were up 580.7% on year for LFP batteries on a dollar per kilogram basis, rising to nearly $36/kwh.
NCM batteries were up 152.6% over the same period to $73-78/kwh in February.

Lithium supply remains a big concern for the EV market and automakers are now increasingly getting involved in the upstream side of in the industry.

For instance General Motors has said it will invest in the development of Controlled Thermal Resources Hell’s Kitchen Lithium Project in California, while Stellantis, Volkswagen, and Renault have partnered with Vulcan Energy Resources (ASX:VUL) to secure material from the Zero Carbon project in Germany.

The world’s biggest luxury car marker, BMW AG, announced it will be switching to the next generation of lower cost batteries for its new electric vehicle platform from 2025, claiming it will use ‘round cells’ instead of prismatic ones which will be manufactured by BMW’s existing partners.

Sodium-ion batteries are also now considered as one of the most promising alternatives, the largest advantage being its lower production cost.

“Due to the abundance of sodium on earth, these battery packs could cost almost 3%-50% less than lithium-ion batteries,” S&P said.

“The energy density is comparable to LFP.”

 

Here’s how ASX lithium stocks were tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

 

Code Company Price % Today % Week % Month Market Cap
AOA Ausmon Resorces 0.008 14% -20% -20% $6,001,025.40
STM Sunstone Metals Ltd 0.058 14% -11% -17% $129,439,450.54
RDT Red Dirt Metals Ltd 0.455 12% 0% -13% $122,112,684.41
NMT Neometals Ltd 1.38 12% -5% -18% $674,502,967.08
ZEO Zeotech Limited 0.059 11% 0% -9% $80,820,519.91
SHH Shree Minerals Ltd 0.01 11% -17% -29% $11,000,132.03
ALY Alchemy Resource Ltd 0.021 11% -16% 24% $18,108,407.08
BNR Bulletin Res Ltd 0.16 10% -9% -22% $42,063,082.92
DTM Dart Mining NL 0.066 10% -8% -18% $7,469,455.80
PGD Peregrine Gold 0.44 10% -8% -8% $15,314,667.60
AUN Aurumin 0.185 9% -1% 0% $18,567,952.84
SYA Sayona Mining Ltd 0.2375 8% -19% -22% $1,579,596,681.30
PNN PepinNini Minerals 0.58 7% -16% -16% $33,178,833.36
SRI Sipa Resources Ltd 0.044 7% 0% -17% $8,406,016.92
AGY Argosy Minerals Ltd 0.375 7% -15% -18% $474,138,311.50
G88 Golden Mile Res Ltd 0.0525 7% -5% -17% $9,982,898.09
RMX Red Mount Min Ltd 0.008 7% -11% -16% $12,317,728.94
MRR Minrex Resources Ltd 0.052 6% -15% -26% $49,427,059.94
SCN Scorpion Minerals 0.088 6% 0% 31% $27,541,988.94
CRR Critical Resources 0.073 6% -22% -10% $102,645,292.86
JRL Jindalee Resources 3.49 6% -14% -27% $189,350,587.80
MLS Metals Australia 0.0855 6% -19% -43% $34,216,060.18
ESS Essential Metals Ltd 0.5 5% -13% 2% $116,761,049.60
WCN White Cliff Min Ltd 0.021 5% -16% -30% $13,072,067.24
LSR Lodestar Minerals 0.0105 5% -19% -25% $17,384,373.48
IPT Impact Minerals 0.0105 5% -13% -17% $21,904,615.86
ASN Anson Resources Ltd 0.11 5% -12% -24% $107,930,795.18
LRS Latin Resources Ltd 0.11 5% -15% -41% $201,703,606.02
TEM Tempest Minerals 0.068 5% -16% -32% $32,792,988.09
PLL Piedmont Lithium Inc 0.685 5% -30% -22% $345,558,874.00
ZNC Zenith Minerals Ltd 0.36 4% -10% -12% $118,646,933.48
CZL Cons Zinc Ltd 0.024 4% -8% -17% $8,081,229.70
LTR Liontown Resources 1.205 4% -18% -24% $2,532,020,103.69
FFX Firefinch Ltd 0.855 4% -23% -19% $968,619,441.22
THR Thor Mining PLC 0.0125 4% -11% -22% $12,695,296.99
WR1 Winsome Resources 0.395 4% -16% -14% $51,305,317.72
MNS Magnis Energy Tech 0.4 4% -7% -11% $372,096,851.67
INF Infinity Lithium 0.135 4% -16% -10% $53,927,827.33
LPD Lepidico Ltd 0.027 4% -16% -31% $166,650,028.09
TON Triton Min Ltd 0.027 4% -10% -13% $32,728,388.60
KAI Kairos Minerals Ltd 0.027 4% -10% -7% $51,014,430.77
MM1 Midasmineralsltd 0.27 4% -21% -4% $14,153,912.50
LRV Larvotto Resources 0.3 3% -5% 18% $11,950,175.00
EMS Eastern Metals 0.16 3% -11% -16% $5,518,000.00
IMI Infinitymining 0.16 3% -18% -16% $8,912,500.00
AZI Altamin Limited 0.1 3% 3% 15% $37,996,524.94
KZR Kalamazoo Resources 0.35 3% -8% -5% $49,366,087.16
KGD Kula Gold Limited 0.036 3% -20% -28% $7,531,147.12
MXR Maximus Resources 0.072 3% -10% -4% $22,253,403.76
CHR Charger Metals 0.57 3% -14% -22% $18,082,474.43
DRE Dreadnought Resources Ltd 0.038 3% -10% -14% $105,031,291.39
LIS Lisenergylimited 0.57 3% -7% -19% $92,082,373.79
VUL Vulcan Energy 7.05 3% -12% -21% $904,401,768.30
GL1 Global Lithium Resources 1.59 3% -17% -32% $245,235,999.70
RGL Riversgold 0.041 3% -33% -43% $22,857,843.76
AKE Allkem Limited 10.955 2% -12% -14% $6,822,941,520.20
TMB Tambourahmetals 0.22 2% -14% -12% $8,856,408.57
QXR Qx Resources Limited 0.051 2% -12% -29% $42,968,116.05
RIO Rio Tinto Limited 105.49 2% -5% -11% $38,394,893,014.02
AZL Arizona Lithium Ltd 0.1425 2% -16% -14% $312,580,689.68
CXO Core Lithium 1.145 2% -12% -6% $1,931,475,517.88
LPI Lithium Pwr Int Ltd 0.585 2% -24% -25% $200,758,287.60
QPM Queensland Pacific 0.1475 2% -11% -20% $223,751,404.00
MMG Monger Gold Ltd 0.305 2% -18% 11% $7,500,000.00
MIN Mineral Resources. 53.91 1% -4% -9% $10,050,371,303.04
LIT Lithium Australia 0.086 1% -9% -18% $87,988,194.04
AOU Auroch Minerals Ltd 0.089 1% -19% -34% $31,794,558.31
INR Ioneer Ltd 0.49 1% -22% -28% $1,014,280,218.70
LKE Lake Resources 1.4025 1% -21% -24% $1,837,173,696.05
A8G Australasian Metals 0.3675 1% -19% -24% $15,027,230.31
PLS Pilbara Min Ltd 2.46 0% -13% -15% $7,293,243,772.85
ADV Ardiden Ltd 0.012 0% -11% -8% $32,020,024.27
1MC Morella Corporation 0.025 0% -22% -24% $129,405,349.65
AVZ AVZ Minerals Ltd 0.78 0% -7% -24% $2,752,409,203.44
GLN Galan Lithium Ltd 1.38 0% -19% -29% $420,071,119.56
PSC Prospect Res Ltd 0.945 0% -2% 3% $412,653,804.89
RLC Reedy Lagoon Corp. 0.025 0% -17% -22% $13,708,930.75
TKL Traka Resources 0.009 0% -18% -18% $6,198,971.05
BMM Balkanminingandmin 0.33 0% 3% -10% $10,807,500.00
ARN Aldoro Resources 0.215 0% -22% -20% $21,330,921.64
AAJ Aruma Resources Ltd 0.076 0% -18% -46% $11,929,074.23
AX8 Accelerate Resources 0.039 0% 0% -41% $10,274,897.06
AM7 Arcadia Minerals 0.215 0% -9% -16% $7,523,387.50
AS2 Askarimetalslimited 0.49 0% -18% -30% $20,374,003.51
GSM Golden State Mining 0.064 0% -10% -30% $6,644,137.73
MMC Mitremining 0.145 0% -12% -33% $3,927,339.50
RAG Ragnar Metals Ltd 0.037 0% -20% -30% $13,789,340.89
TSC Twenty Seven Co. Ltd 0.0035 0% 17% -13% $9,312,848.67
WML Woomera Mining Ltd 0.019 0% -17% -24% $13,049,828.25
ENT Enterprise Metals 0.014 0% -18% -33% $9,025,055.97
AVW Avira Resources Ltd 0.005 0% -9% -17% $10,593,950.00
GT1 Greentechnology 0.79 0% -21% -15% $107,623,280.00
MQR Marquee Resource Ltd 0.092 0% -20% -16% $28,680,860.62
NWM Norwest Minerals 0.046 0% -10% -23% $8,307,939.80
VKA Viking Mines Ltd 0.01 0% 0% -9% $10,252,584.31
VMC Venus Metals Cor Ltd 0.19 0% -3% -3% $28,704,949.77
EPM Eclipse Metals 0.026 0% -10% -28% $49,949,286.74
EVR Ev Resources Ltd 0.038 0% -27% -39% $35,187,394.70
WC8 Wildcat Resources 0.03 0% -3% -14% $19,358,181.81
M2R Miramar 0.125 0% -22% -29% $7,986,568.13
XTC Xantippe Res Ltd 0.01 0% -23% -23% $76,830,568.99
WMC Wiluna Mining Corp 0.565 0% 1% -37% $119,392,943.93
EMH European Metals Hldg 1 -1% -13% -22% $142,184,734.65
PAM Pan Asia Metals 0.445 -1% -16% -14% $33,146,389.80
LEL Lithenergy 1.105 -1% -35% 15% $50,568,000.00
LRD Lordresourceslimited 0.27 -2% -14% 38% $8,465,770.78
EUR European Lithium Ltd 0.079 -2% -12% -28% $112,016,004.52
AML Aeon Metals Ltd. 0.037 -3% -18% -42% $32,900,737.74
IGO IGO Limited 10.625 -3% -15% -21% $8,269,364,517.96
EFE Eastern Resources 0.035 -3% -27% -29% $35,799,718.72
FG1 Flynngold 0.145 -3% -6% -15% $9,609,157.50
CAI Calidus Resources 0.845 -3% -12% -13% $352,009,882.00
NVA Nova Minerals Ltd 0.61 -4% -8% -27% $114,428,450.98
BYH Bryah Resources Ltd 0.046 -4% 0% -15% $10,857,944.40
SRZ Stellar Resources 0.02 -5% -23% -29% $17,625,355.15
FRS Forrestaniaresources 0.255 -6% -19% -27% $7,586,677.08
RAS Ragusa Minerals Ltd 0.075 -6% -3% -19% $10,052,626.40
GW1 Greenwing Resources 0.305 -9% -29% -18% $41,287,861.92
MTM Mtmongerresources 0.15 -12% -19% -27% $6,164,205.61

 

It’s been a pretty good day  for ASX lithium plays with 70 finishing up in the green, 32 flatlining and only 17 ending the week in red territory.

 

Who’s got news out today?

Aldoro Resources (ASX:ARN)

ARN has a portfolio of gold and nickel focused advanced exploration projects in Western Australia and recently kicked off maiden drilling at its Wyemandoo critical metal pegmatite project.

The program is targeting two pegmatite loop structures that produce anomalous lithium (up to 2.06% Li2O) and rubidium (up to 1.7%) values from prior rock chip sampling.

Drilling contractors, Three Rivers Drilling, has started to drill a 200m vertical hole into the northern loop structure as part of locating a feeder to the tree-like model interpreted to feed to local dipping sills.

The RC program is revolved around defining the geological setting for the dykes and sills with five vertical and 21 inclined holes with an estimated 3,500m to 4,200m over the northern and southern loop structures.

Aldoro Resources (ASX:ARN) share price today

 

Red Dirt Metals (ASX:RDT)

Red Dirt Metals, formerly TNT Mines, returned ‘exceptional’ high-grade lithium results of greater than 2% Li2O contained within all assayed holes during the first diamond drilling program across the Mt Ida Lithium-Gold Project in Western Australia.

The company – one of the top 5 winners in early morning trade today – said short term tonnage growth and an accelerated pathway to production has now been confirmed with a third diamond rig having arrived at site, while an RC and AC rig is set to arrive by the end of May.

Total program meterage is planned to exceed 60,000m by September this year.

“These first diamond results have confirmed that the Sister Sam pegmatite grades and widths are continuing some 600m down plunge from the surface expression of the pegmatite, and show no signs of grade dropping off or significant variations in mineralogy across the intrusive,” RDT managing director Matthew Boyes said.

“The results demonstrate the potential to add a significant amount of lithium metal over a small vertical distance.”

RDT has an independent consulting group contracted to calculate and report the maiden resource estimate for the Sister Sam, Timoni and Sparrow pegmatites.

In addition to the lithium resource there will be a review, re-calculation and report on an updated JORC 2012 resource of the existing gold-copper mineralisation at Mt Ida.

Red Dirt Metals (ASX:RDT) share price today