Eye on Lithium: We need to spend up to $US3 trillion on the lithium battery supply chain by 2040

We need to spend up to $3 trillion by 2040 to build solid lithium supply chain: Benchmark
Ragusa Minerals picks up another lithium exploration tenement in the NT
Lord Resources has been granted Horse Rocks lithium project near Kalgoorlie

All your ASX lithium news for Tuesday, September 20.

Benchmark Boss Simon Moores loves to tweet some lithium deets, last week flagging that we need close to 400 new lithium, cobalt, nickel and graphite mines to feed a 500% increase in battery demand by 2035.

In the lead up to the Energy Disruptors conference in Calgary, Canada, Moores said today that it will cost $US1-$US3 trillion and take a generation to build a lithium-ion battery supply chain capable of supporting mass market EVs industry and energy storage systems.

Let that sink in for a sec.

To build a lithium ion battery supply chain capable of supporting mass market EVs industry & energy storage systems will cost up to $3 Trillion and take a generation.@benchmarkmin

My talk @EnergyDisruptor in Calgary 🇨🇦 on Weds will break this down.

— Simon Moores (@sdmoores) September 19, 2022

This includes building critical minerals supply, cathodes and anodes as well as battery cells.

“Our estimates vary from $1Tr to $3Tr depending on scenarios,” Moores said.

“At the top end – $3Tr – is for a fully sustainable world by >2050.

“We are on a demand path to needing spending $1Tr by 2040.”

Here’s how ASX lithium stocks were tracking today:

Code	Company	Price	% Month	% Week	% Today	Market Cap
KGD	Kula Gold Limited	0.031	24%	55%	35%	$6,186,299.37
RAS	Ragusa Minerals Ltd	0.29	53%	16%	18%	$31,517,796.66
ENT	Enterprise Metals	0.014	40%	40%	17%	$7,835,768.26
AX8	Accelerate Resources	0.043	16%	19%	16%	$10,006,979.26
IPT	Impact Minerals	0.008	-11%	14%	14%	$17,369,593.89
VKA	Viking Mines Ltd	0.009	13%	13%	13%	$8,202,067.45
LRD	Lordresourceslimited	0.29	47%	9%	12%	$8,654,001.46
EMS	Eastern Metals	0.15	3%	15%	11%	$5,218,593.75
ALY	Alchemy Resource Ltd	0.022	16%	5%	10%	$19,061,519.10
PLL	Piedmont Lithium Inc	0.95	6%	6%	8%	$464,262,304.00
SRZ	Stellar Resources	0.014	-18%	0%	8%	$12,547,569.14
LRV	Larvottoresources	0.225	-17%	-4%	7%	$8,721,825.00
ZNC	Zenith Minerals Ltd	0.315	5%	2%	7%	$101,704,872.31
MXR	Maximus Resources	0.05	-9%	6%	6%	$14,988,571.10
1MC	Morella Corporation	0.0255	-6%	-12%	6%	$138,375,498.86
TYX	Tyranna Res Ltd	0.051	28%	-9%	6%	$113,081,312.02
CY5	Cygnus Gold Limited	0.265	18%	-5%	6%	$36,796,328.75
MIN	Mineral Resources.	71.75	18%	-2%	6%	$12,879,265,348.00
DAF	Discovery Alaska Ltd	0.08	1%	1%	5%	$17,041,837.05
IGO	IGO Limited	15.02	22%	3%	5%	$10,806,211,691.51
BMM	Balkanminingandmin	0.355	87%	37%	5%	$11,053,125.00
WCN	White Cliff Min Ltd	0.024	100%	0%	4%	$17,194,877.33
EPM	Eclipse Metals	0.024	20%	0%	4%	$46,557,907.50
LTR	Liontown Resources	1.705	1%	-3%	4%	$3,591,171,797.25
AKE	Allkem Limited	15.9	29%	2%	4%	$9,781,675,039.24
MTM	Mtmongerresources	0.145	-24%	-3%	4%	$5,251,404.62
EMH	European Metals Hldg	0.875	9%	3%	4%	$101,179,010.53
PGD	Peregrine Gold	0.62	-25%	-11%	3%	$23,232,933.60
EFE	Eastern Resources	0.032	3%	10%	3%	$31,208,651.70
TMB	Tambourahmetals	0.17	10%	13%	3%	$6,796,778.67
INR	Ioneer Ltd	0.685	-1%	5%	3%	$1,395,259,160.54
SYA	Sayona Mining Ltd	0.2725	1%	-23%	3%	$2,200,645,909.56
INF	Infinity Lithium	0.185	28%	-3%	3%	$74,882,351.88
GT1	Greentechnology	0.78	12%	-6%	3%	$144,961,178.68
RGL	Riversgold	0.04	11%	11%	3%	$30,232,407.50
CRR	Critical Resources	0.081	56%	62%	3%	$117,553,203.88
LPI	Lithium Pwr Int Ltd	0.61	4%	-9%	3%	$232,764,669.97
OCN	Oceanalithiumlimited	0.63	-3%	-7%	2%	$20,617,875.00
PLS	Pilbara Min Ltd	4.86	59%	6%	2%	$14,177,491,853.25
DRE	Dreadnought Resources Ltd	0.1175	12%	-2%	2%	$349,891,358.37
MLS	Metals Australia	0.049	-14%	-4%	2%	$29,137,737.17
JRL	Jindalee Resources	2.64	-3%	6%	2%	$148,611,521.94
RIO	Rio Tinto Limited	94.155	-4%	-2%	2%	$34,296,666,011.46
CAI	Calidus Resources	0.565	-11%	-7%	2%	$242,968,846.28
KTA	Krakatoa Resources	0.065	0%	5%	2%	$22,061,434.69
VUL	Vulcan Energy	7.93	-2%	0%	1%	$1,120,882,053.82
LLL	Leolithiumlimited	0.745	48%	18%	1%	$725,192,830.32
AZL	Arizona Lithium Ltd	0.088	-2%	1%	1%	$209,663,523.81
GL1	Globallith	2.68	41%	9%	1%	$420,550,378.40
WES	Wesfarmers Limited	45.93	-6%	-4%	1%	$51,521,700,596.48
CXO	Core Lithium	1.45	4%	-9%	1%	$2,492,875,335.86
LKE	Lake Resources	1.055	-13%	-16%	1%	$1,452,522,525.91
CHR	Charger Metals	0.545	-1%	3%	1%	$17,607,258.90
LIT	Lithium Australia	0.0595	-26%	-2%	1%	$71,958,949.39
GLN	Galan Lithium Ltd	1.4	11%	-2%	1%	$423,352,134.59
ADV	Ardiden Ltd	0.008	0%	14%	0%	$21,346,682.85
AML	Aeon Metals Ltd.	0.031	-6%	-3%	0%	$33,896,353.96
ASN	Anson Resources Ltd	0.365	152%	-1%	0%	$376,133,055.17
AVZ	AVZ Minerals Ltd	0.78	0%	0%	0%	$2,752,409,203.44
LPD	Lepidico Ltd	0.028	-3%	-7%	0%	$182,201,354.52
QPM	Queensland Pacific	0.155	3%	3%	0%	$242,360,035.31
RLC	Reedy Lagoon Corp.	0.015	-12%	-12%	0%	$8,361,403.68
TKL	Traka Resources	0.007	0%	0%	0%	$4,821,421.93
ARN	Aldoro Resources	0.22	-19%	-14%	0%	$21,909,209.74
PAM	Pan Asia Metals	0.435	-8%	7%	0%	$32,155,305.27
FG1	Flynngold	0.1	0%	-5%	0%	$6,406,105.00
FRS	Forrestaniaresources	0.21	45%	-22%	0%	$7,005,873.84
RAG	Ragnar Metals Ltd	0.037	-20%	-5%	0%	$14,029,840.89
SHH	Shree Minerals Ltd	0.009	0%	6%	0%	$11,146,382.03
TEM	Tempest Minerals	0.037	-10%	-3%	0%	$18,676,348.51
TSC	Twenty Seven Co. Ltd	0.002	-5%	0%	0%	$5,321,627.81
WR1	Winsome Resources	0.325	27%	3%	0%	$43,912,048.05
QXR	Qx Resources Limited	0.035	17%	17%	0%	$30,077,681.24
SCN	Scorpion Minerals	0.08	3%	-2%	0%	$26,546,495.36
AZI	Altamin Limited	0.088	6%	-2%	0%	$34,471,074.18
STM	Sunstone Metals Ltd	0.04	-11%	-5%	0%	$103,857,856.76
RMX	Red Mount Min Ltd	0.006	-14%	-8%	0%	$9,854,183.15
A8G	Australasian Metals	0.295	5%	-2%	0%	$12,145,295.73
MQR	Marquee Resource Ltd	0.069	-17%	-12%	0%	$21,777,613.02
LSR	Lodestar Minerals	0.0065	-7%	-7%	0%	$11,299,842.76
NWM	Norwest Minerals	0.045	-2%	-20%	0%	$9,994,832.42
VMC	Venus Metals Cor Ltd	0.17	0%	3%	0%	$27,213,376.11
G88	Golden Mile Res Ltd	0.033	-3%	-8%	0%	$6,751,461.95
WC8	Wildcat Resources	0.036	24%	6%	0%	$23,229,818.17
THR	Thor Mining PLC	0.011	10%	0%	0%	$12,090,796.58
CZL	Cons Zinc Ltd	0.022	0%	-4%	0%	$8,521,871.89
MM1	Midasmineralsltd	0.2	-23%	-5%	0%	$11,426,352.80
M2R	Miramar	0.105	-19%	-9%	0%	$6,739,599.62
XTC	Xantippe Res Ltd	0.01	0%	25%	0%	$81,452,298.50
WMC	Wiluna Mining Corp	0.205	0%	0%	0%	$74,238,030.68
DAL	Dalaroometalsltd	0.13	33%	24%	0%	$3,883,750.00
TKM	Trek Metals Ltd	0.066	-7%	-3%	0%	$20,500,269.90
MNS	Magnis Energy Tech	0.4575	6%	-6%	-1%	$446,352,482.18
MRR	Minrex Resources Ltd	0.0525	-6%	1%	-1%	$57,053,954.26
FTL	Firetail Resources	0.26	2%	0%	-1%	$16,217,906.25
DTM	Dart Mining NL	0.09	18%	-22%	-1%	$14,063,137.73
EUR	European Lithium Ltd	0.088	-2%	0%	-1%	$124,621,286.58
NMT	Neometals Ltd	1.255	-9%	-21%	-1%	$701,480,065.16
AOU	Auroch Minerals Ltd	0.075	3%	21%	-1%	$28,204,496.72
BNR	Bulletin Res Ltd	0.1375	-5%	-11%	-2%	$40,962,754.00
GSM	Golden State Mining	0.049	-11%	-2%	-2%	$5,850,710.20
IMI	Infinitymining	0.245	53%	20%	-2%	$14,375,000.00
KZR	Kalamazoo Resources	0.245	4%	11%	-2%	$36,823,593.50
ZEO	Zeotech Limited	0.049	-23%	7%	-2%	$78,095,773.50
ESS	Essential Metals Ltd	0.48	5%	-6%	-2%	$121,536,555.63
LRS	Latin Resources Ltd	0.1125	-2%	-6%	-2%	$224,825,970.37
AS2	Askarimetalslimited	0.355	-7%	-11%	-3%	$16,450,283.55
MMC	Mitremining	0.175	52%	0%	-3%	$4,875,318.00
RDT	Red Dirt Metals Ltd	0.645	26%	-8%	-3%	$202,528,693.29
EVR	Ev Resources Ltd	0.029	-9%	-3%	-3%	$27,779,522.13
BYH	Bryah Resources Ltd	0.028	0%	-3%	-3%	$8,098,350.75
LEL	Lithenergy	1.075	4%	-10%	-4%	$50,342,250.00
NVA	Nova Minerals Ltd	0.8	-6%	-9%	-4%	$152,438,858.25
SRI	Sipa Resources Ltd	0.05	11%	11%	-4%	$10,661,289.76
TUL	Tulla Resources	0.465	-11%	-9%	-4%	$77,705,182.92
TON	Triton Min Ltd	0.023	-18%	-26%	-4%	$33,186,820.25
PSC	Prospect Res Ltd	0.088	-12%	-10%	-4%	$42,527,870.50
AGY	Argosy Minerals Ltd	0.53	39%	8%	-5%	$759,435,611.42
AAJ	Aruma Resources Ltd	0.063	-13%	-7%	-5%	$10,359,459.20
AUN	Aurumin	0.1	-31%	-9%	-5%	$13,157,249.49
LIS	Lisenergylimited	0.58	-11%	-3%	-5%	$101,207,654.07
AM7	Arcadia Minerals	0.275	41%	6%	-5%	$13,542,388.68
WML	Woomera Mining Ltd	0.017	13%	6%	-6%	$12,362,995.19
MMG	Monger Gold Ltd	0.51	19%	5%	-6%	$21,621,600.00
AOA	Ausmon Resorces	0.008	14%	0%	-6%	$7,286,959.42
PNN	Power Minerals Ltd	0.58	14%	-11%	-8%	$38,795,468.67
GW1	Greenwing Resources	0.285	8%	4%	-8%	$38,206,678.19
LNR	Lanthanein Resources	0.0485	21%	-13%	-8%	$51,029,755.21
IR1	Irismetals	2	158%	12%	-11%	$136,348,800.00
AVW	Avira Resources Ltd	0.004	0%	0%	-11%	$9,534,555.00
KAI	Kairos Minerals Ltd	0.039	34%	18%	-13%	$88,384,207.10

A total of 55 stocks were in the green, 37 were flat and 39 were red.

Who has news out today?

RAGUSA MINERALS (ASX:RAS)

RAS has nabbed another lithium exploration tenement in the NT.

The wider NT ‘Supergroup’ lithium project area is within the Litchfield Pegmatite Belt – host to Core Lithium’s (ASX:CXO) neighbouring Finnis Project, Lithium Plus (ASX:LPM), Charger Metals (ASX:CHR) and others.

Two more tenement applications are currently being processed by the NT Mineral Titles office.

“This is another very positive milestone that puts Ragusa in a strong position to rapidly accelerate the development of our project within a proven high-quality lithium district,” RAS chair Jerko Zuvela says.

“We have a significant opportunity to utilise our exploration and development experience to rapidly progress our NT Lithium Project and realise the massive upside value potential in a Tier 1 jurisdiction close to major infrastructure at a time of record lithium prices.”

In August, initial desktop review works indicated there was high-grade lithium-gold across the site with rock chip samples returning 5.46% Li20, 2.27g/t gold, and 4.59g/t gold.

LORD RESOURCES (ASX:LRD)

The company has been granted the Horse Rocks lithium project near Kalgoorlie, with “high impact exploration imminent”.

The project is around 8km west of Mineral Resources’ (ASX:MIN) Mt Marion Lithium Mine, and while historical drilling has identified elevated nickel and gold anomalism in surface sampling, the company says the lack of any exploration for lithium provides an untested conceptual opportunity.

The field crew is expected to mobilise within the week, to begin exploration, following the 5 days’ notice period required by the Department of Biodiversity, Conservation and Attractions (DBCA).

ODESSA MINERALS (ASX:ODE)

ODE has picked up the Lyndon tenement, a 148 km2 granted Exploration Licence (E08/3217) from Historic Gold Mines Pty Ltd (HGM) in the Gascoyne region of WA.

The expanded Lydon project area holds considerable potential for the discovery of lithium pegmatites, along with rare earth element carbonatites and nickel-copper sulphide mineralisation, the company says.

MORELLA (ASX:1MC)

The company has wrapped up its first on-ground works at the North Big Smoky Lithium Project in Nevada, USA, with the conclusion of a detailed soils program.

Assay results are expected in one to two months, and in the meantime a magentotelluric (MT) survey is planned to identify sub-surface areas of mineral concentration.

The survey should be completed by the end Q4 2022.

RAS, LRD, ODE and 1MC share prices today:

TAMBOURAH METALS (ASX:TMB)

TMB has identified extensive pegmatite swarms in the Geological Survey of WA (GSWA) WAROX data base at the Russian Jack project, which executive chairperson Rita Brooks said “significantly increases the prospectivity of Russian Jack.”

The company is awaiting the delivery of a hyperspectral study being completed by a specialist remote sensing consultant over the project Jack tenure, with detailed rock chip sampling and mapping will follow up on the WAROX results.

ST GEORGE MINING (ASX:SGQ)

Initial rock chip sampling of pegmatite outcrop at the company’s Mt Alexander project in WA has confirmed a geochemistry indicative of lithium, caesium and tantalum (LCT) fertile pegmatites.

Lithium bearing pegmatites have now been identified over a zone 400m x 1700m and more pegmatites have been sampled across a 15km zone in the same corridor as Red Dirt’s (ASX:RDT) Mt Ida lithium province.

The company says, based on visual observation, several samples appear to include lithium minerals in the form of spodumene and lepidolite – with assays expected next week.

ACCELERATE RESOURCES (ASX:AX8)

AX8 has flagged new pegmatite targets at its East Pilbara project and is planning a ground based sampling program to target potential lithium, tin, and tantalite mineralisation within pegmatites across the 369 km2 project area in November.

Targets for drill testing will be finalised once results of the field campaign are assessed. The maiden drill program for the lithium targets is scheduled to commence in the first half of 2023.

ZENITH MINERALS (ASX:ZNC)

Drilling at the company’s Split Rocks project has identified widespread, thick lithium pegmatites, including 7m at 1.3% Li2O within a broader interval of 56m at 0.3% Li2O to end of hole.

“The plan is to now accelerate drilling at Rio with a clear runway of greater than 160 permitted holes ahead of us,” MD Michael Clifford said.

“The RC rig will focus on 400m spaced step-out sections, working our way south, whilst a diamond drill rig explores the eastern and depth extents of the system.”