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:

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

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.