Eye on Lithium: Umicore eyes battery materials production plant in Canada

Umicore wants to produce one million EVs by the end of the decade at a new battery plant in Canada
Construction will kick off in 2023 as negotiations with potential customers for production contracts in North America gets underway
1MC wraps up first year expenditure requirement for the Fisk Lake Valley Lithium Project

Umicore and the Government of Canada announced plans to construct a manufacturing facility that could begin producing battery cathode precursor materials and cathode active battery materials by the end of 2025, a move that will complete the missing link in Canada’s battery value chain.

With a target to start construction in 2023, Umicore is hoping the facility reaches an annual production capacity capable of powering roughly one million EVs by the end of this decade.

Great to finally see some #cathode momentum in North America – another big step for Canada’s #battery material ambitions. Mid stream build out essential to the prospects of developing localized #lithium #cobalt and #nickel supplies https://t.co/Dsxc9TC3Xg

— Andrew Miller (@amiller_bmi) July 14, 2022

This comes hot on the heels of an announcement made by the Belgian-based circular materials tech company only two weeks ago of its plans to build a $525m battery recycling facility in Europe that would be ’15 times’ the size of its current facilities.

For Umicore, this latest investment represents the final step in establishing a truly global production presence with battery material value chains that are regionally and fully integrated to support its customers in their fast transformation towards sustainable electric mobility.

The company is also in negotiations with several potential customers for production contracts in North America, which will form the basis for Umicore’s investment decision.

“Once the key customer contracts are in place, this expansion in North America would complete our global rollout of regional supply chains for our automotive and battery cell customers to now three continents,”, CEO of Umicore Mathias Miedreich says.

Here’s how ASX lithium stocks are tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to emma.davies@stockhead.com.au

CODE	COMPANY	PRICE	% TODAY	% WEEK	% MONTH	MARKET CAP
1MC	Morella Corporation	0.018	6%	0%	6%	$87,995,637.76
A8G	Australasian Metals	0.2	0%	-2%	-9%	$8,234,098.80
AAJ	Aruma Resources Ltd	0.062	3%	-2%	-11%	$9,417,690.18
ADV	Ardiden Ltd	0.0065	8%	-7%	-28%	$16,010,012.14
AGY	Argosy Minerals Ltd	0.32	-3%	0%	-12%	$447,496,825.71
AKE	Allkem Limited	9.72	-2%	-2%	-5%	$6,312,815,051.40
ALY	Alchemy Resource Ltd	0.015	0%	0%	-6%	$14,296,110.86
AM7	Arcadia Minerals	0.16	14%	10%	-16%	$6,537,704.88
AML	Aeon Metals Ltd.	0.027	-7%	0%	4%	$28,742,808.37
AOA	Ausmon Resorces	0.006	0%	20%	0%	$5,143,736.06
AOU	Auroch Minerals Ltd	0.059	-2%	-8%	-19%	$22,167,107.94
ARN	Aldoro Resources	0.14	0%	-7%	-13%	$13,921,224.38
AS2	Askarimetalslimited	0.22	-2%	-8%	-21%	$9,358,710.75
ASN	Anson Resources Ltd	0.115	0%	10%	0%	$118,209,918.53
AUN	Aurumin	0.15	7%	25%	11%	$15,291,255.28
AVW	Avira Resources Ltd	0.003	0%	0%	-25%	$6,356,370.00
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	$2,752,409,203.44
AX8	Accelerate Resources	0.029	0%	7%	-6%	$7,843,308.07
AZI	Altamin Limited	0.095	0%	-1%	-2%	$37,213,091.44
AZL	Arizona Lithium Ltd	0.085	0%	-1%	-15%	$189,847,244.15
BMM	Balkanminingandmin	0.19	0%	9%	3%	$6,222,500.00
BNR	Bulletin Res Ltd	0.1125	2%	-2%	-13%	$32,185,021.00
BYH	Bryah Resources Ltd	0.028	0%	-3%	-15%	$6,333,800.90
CAI	Calidus Resources	0.62	-7%	-2%	-4%	$271,008,087.07
CHR	Charger Metals	0.44	0%	16%	0%	$14,335,655.40
CRR	Critical Resources	0.036	-5%	-14%	-33%	$56,544,579.08
CXO	Core Lithium	0.895	-1%	-6%	-26%	$1,559,894,144.40
CY5	Cygnus Gold Limited	0.145	0%	-3%	-15%	$17,107,870.68
CZL	Cons Zinc Ltd	0.018	-10%	-10%	-10%	$7,267,156.26
DAF	Discovery Alaska Ltd	0.045	2%	2%	-6%	$9,866,326.71
DAL	Dalaroometalsltd	0.1	0%	-5%	11%	$2,987,500.00
DRE	Dreadnought Resources Ltd	0.0475	-3%	3%	28%	$139,095,494.00
DTM	Dart Mining NL	0.062	-5%	17%	3%	$8,791,910.40
EFE	Eastern Resources	0.0255	-2%	-2%	2%	$25,855,352.41
EMH	European Metals Hldg	0.675	7%	2%	-10%	$75,513,605.58
EMS	Eastern Metals	0.15	0%	15%	25%	$5,340,000.00
ENT	Enterprise Metals	0.0095	-10%	-5%	-21%	$6,768,791.98
EPM	Eclipse Metals	0.02	0%	0%	-17%	$38,422,528.26
ESS	Essential Metals Ltd	0.355	-3%	-4%	-9%	$89,967,910.13
EUR	European Lithium Ltd	0.067	0%	10%	6%	$92,760,924.67
EVR	Ev Resources Ltd	0.027	0%	-4%	0%	$25,001,569.92
FG1	Flynngold	0.11	10%	-15%	-8%	$6,406,105.00
FRS	Forrestaniaresources	0.135	0%	-10%	-7%	$4,196,651.04
FTL	Firetail Resources	0.2	0%	-11%	-38%	$12,356,500.00
G88	Golden Mile Res Ltd	0.028	0%	-7%	-35%	$5,704,513.19
GL1	Globallith	1.04	-3%	-8%	-21%	$170,600,625.20
GLN	Galan Lithium Ltd	0.98	1%	-2%	-15%	$296,789,377.95
GSM	Golden State Mining	0.045	7%	13%	0%	$4,889,695.40
GT1	Greentechnology	0.635	1%	27%	-18%	$116,089,875.09
GW1	Greenwing Resources	0.225	-4%	0%	2%	$28,963,127.02
IGO	IGO Limited	9.24	-7%	-4%	-16%	$7,534,814,739.35
IMI	Infinitymining	0.135	0%	-4%	4%	$7,762,500.00
INF	Infinity Lithium	0.11	0%	5%	-8%	$45,651,437.26
INR	Ioneer Ltd	0.44	-2%	-1%	16%	$943,711,560.00
IPT	Impact Minerals	0.008	14%	0%	-11%	$17,369,593.89
IR1	Irismetals	0.245	-4%	-6%	-13%	$15,204,375.00
JRL	Jindalee Resources	2.6	0%	-9%	-7%	$149,185,311.60
KAI	Kairos Minerals Ltd	0.023	0%	10%	10%	$45,128,150.29
KGD	Kula Gold Limited	0.03	-3%	11%	20%	$6,670,444.59
KTA	Krakatoa Resources	0.047	0%	-2%	-11%	$16,201,366.10
KZR	Kalamazoo Resources	0.23	-4%	15%	-8%	$34,846,649.76
LEL	Lithenergy	0.67	-1%	-4%	-20%	$30,702,000.00
LIS	Lisenergylimited	0.595	2%	9%	28%	$97,059,799.40
LIT	Lithium Australia	0.07	0%	3%	-3%	$72,478,652.75
LKE	Lake Resources	0.6	-1%	-14%	-62%	$840,774,493.13
LLL	Leolithiumlimited	0.395	3%	-14%	0%	$379,862,911.12
LNR	Lanthanein Resources	0.016	7%	-6%	-6%	$12,567,383.55
LPD	Lepidico Ltd	0.027	0%	4%	4%	$175,693,631.39
LPI	Lithium Pwr Int Ltd	0.395	-1%	-7%	3%	$139,657,939.20
LRD	Lordresourceslimited	0.2	-2%	-2%	0%	$6,515,847.31
LRS	Latin Resources Ltd	0.067	-4%	-3%	2%	$135,104,461.66
LRV	Larvottoresources	0.19	-3%	-12%	-12%	$8,098,837.50
LSR	Lodestar Minerals	0.006	0%	-14%	0%	$10,430,624.09
LTR	Liontown Resources	0.945	-3%	-1%	-10%	$2,126,458,442.06
M2R	Miramar	0.09	0%	-2%	-2%	$5,776,799.67
MIN	Mineral Resources.	43.95	-6%	-2%	-21%	$8,884,799,080.51
MLS	Metals Australia	0.045	-2%	-6%	-13%	$26,129,664.79
MM1	Midasmineralsltd	0.175	0%	-13%	-20%	$9,998,058.70
MMC	Mitremining	0.125	0%	-4%	4%	$3,385,637.50
MMG	Monger Gold Ltd	0.215	0%	0%	-14%	$8,608,600.00
MNS	Magnis Energy Tech	0.285	0%	-5%	-10%	$275,448,318.77
MQR	Marquee Resource Ltd	0.063	-5%	-9%	-13%	$20,830,760.28
MRR	Minrex Resources Ltd	0.032	0%	-3%	-11%	$33,924,702.75
MTM	Mtmongerresources	0.12	0%	0%	9%	$4,501,203.96
MXR	Maximus Resources	0.046	0%	-2%	-6%	$14,623,665.33
NMT	Neometals Ltd	0.93	-2%	-6%	-7%	$520,957,576.20
NVA	Nova Minerals Ltd	0.71	1%	1%	25%	$127,042,610.93
NWM	Norwest Minerals	0.027	-4%	-4%	-13%	$5,057,006.84
OCN	Oceanalithiumlimited	0.4	10%	10%	0%	$12,236,625.00
PAM	Pan Asia Metals	0.375	-3%	0%	-14%	$28,459,293.17
PGD	Peregrine Gold	0.4	-5%	11%	5%	$16,080,400.98
PLL	Piedmont Lithium Inc	0.4875	-4%	-5%	-31%	$269,061,108.00
PLS	Pilbara Min Ltd	2.395	-2%	9%	11%	$7,293,278,540.80
PNN	Power Minerals Ltd	0.41	0%	-1%	-4%	$25,221,914.65
PSC	Prospect Res Ltd	0.9875	0%	1%	3%	$455,325,570.07
QPM	Queensland Pacific	0.1275	-2%	-2%	6%	$203,269,707.03
QXR	Qx Resources Limited	0.027	0%	-10%	-10%	$23,202,782.67
RAG	Ragnar Metals Ltd	0.039	0%	0%	-5%	$14,788,210.67
RAS	Ragusa Minerals Ltd	0.078	-9%	-5%	-21%	$10,813,309.42
RDT	Red Dirt Metals Ltd	0.335	-6%	-12%	-17%	$108,116,821.23
RGL	Riversgold	0.027	0%	-7%	-18%	$20,422,151.97
RIO	Rio Tinto Limited	93.74	-2%	-4%	-16%	$35,640,468,706.14
RLC	Reedy Lagoon Corp.	0.017	0%	-6%	6%	$9,476,257.50
RMX	Red Mount Min Ltd	0.007	17%	17%	0%	$9,854,183.15
SCN	Scorpion Minerals	0.068	-3%	-3%	-13%	$23,228,183.44
SHH	Shree Minerals Ltd	0.008	0%	0%	14%	$9,907,895.14
SRI	Sipa Resources Ltd	0.04	0%	11%	14%	$8,200,992.12
SRZ	Stellar Resources	0.016	7%	7%	-6%	$12,589,539.39
STM	Sunstone Metals Ltd	0.042	0%	-7%	-13%	$109,050,749.60
SYA	Sayona Mining Ltd	0.135	-4%	-7%	-4%	$1,154,545,373.80
TEM	Tempest Minerals	0.045	-4%	-49%	18%	$23,724,010.27
THR	Thor Mining PLC	0.01	11%	0%	0%	$9,620,108.76
TKL	Traka Resources	0.005	0%	-17%	-38%	$3,443,872.81
TKM	Trek Metals Ltd	0.055	0%	-4%	-23%	$17,083,558.25
TMB	Tambourahmetals	0.145	-3%	0%	-19%	$6,178,889.70
TON	Triton Min Ltd	0.015	-6%	-12%	-44%	$20,140,546.83
TSC	Twenty Seven Co. Ltd	0.003	0%	20%	0%	$7,982,441.72
TUL	Tulla Resources	0.52	-2%	-5%	-2%	$84,914,942.16
TYX	Tyranna Res Ltd	0.02	0%	11%	54%	$30,647,213.34
VKA	Viking Mines Ltd	0.007	0%	0%	0%	$7,176,809.02
VMC	Venus Metals Cor Ltd	0.16	-3%	0%	0%	$26,412,982.70
VUL	Vulcan Energy	5.79	-1%	6%	0%	$837,078,157.84
WC8	Wildcat Resources	0.025	0%	0%	-11%	$16,131,818.18
WCN	White Cliff Min Ltd	0.013	8%	8%	-13%	$7,843,240.34
WES	Wesfarmers Limited	45.77	1%	2%	9%	$51,601,069,413.42
WMC	Wiluna Mining Corp	0.19	-3%	-14%	-61%	$70,616,663.33
WML	Woomera Mining Ltd	0.015	-12%	-17%	-17%	$11,676,162.12
WR1	Winsome Resources	0.18	-5%	-10%	-25%	$25,671,658.86
XTC	Xantippe Res Ltd	0.0075	7%	7%	-6%	$55,728,039.95
ZEO	Zeotech Limited	0.045	5%	-4%	-17%	$65,571,365.21
ZNC	Zenith Minerals Ltd	0.26	0%	4%	-19%	$89,638,192.54

A bit of a sad day for lithium miners – only 25 stocks finished in the green, 54 flatlined and 52 ended the day in the red.

Who’s got news out?

MORELLA CORPORATION (ASX:1MC)

1MC has met its first year expenditure requirement for the Fisk Lake Valley Lithium Project earn-in-option agreement with Lithium Corporation (LTUM).

Under the terms of the agreement, Morella was required to undertake exploration and development work to a total value of USD$200,000 by no later than August 17, 2022.

Morella notified LTUM that it had met its first-year expenditure requirement on July 13.

1MC’s expenditure was focussed on field-based geophysical surveys and data analysis, leading to the identification of multiple drilling targets following a passive seismic survey and magnetotelluric survey in the southern section of Fish Lake Valley Project area back in April.

AVZ MINERALS (ASX:AVZ)

AVZ updated the market with respect to the trading halt and subsequent voluntary suspension that has resulted in its securities being suspended from trading since May 10.

This has happened whilst the company awaits the grant of the Permit d’Exploitation and an update regarding its exploration rights for its flagship Manono Lithium and Tin Project in the south of the Democratic Republic of Congo (DRC) in central Africa.

AVZ said it “regrets that the voluntary suspension period has lasted longer than was intended”.

During this period, it has been actively engaged with the highest levels of the Government with respect to the grant of the Mining Licence and an update regarding its exploration rights for the Manono Project.

Whilst the company remains confident of a positive outcome, it will be necessary to continue the period of voluntary suspension as the subject of the initial trading halt request remains incomplete.

AVZ has requested a further extension to the voluntary suspension from the ASX until the commencement of trade on July 29, 2022 or an earlier announcement to the market regarding its mining and exploration rights for the Manono Project.