X

Eye on Lithium: We’re on track to reach $1 trillion of lithium-ion battery investment by 2024, Benchmark says

Not an accurate representation of $1 trillion. Pic: PM Images / Stone / Stone via Getty Images

share

  • Benchmark says lithium-ion battery investment is on track to hit $1 trillion
  • Consolidated Zinc picks up lithium project in WA
  • Tyranna also picks up lithium project – but in West Africa

 All your ASX lithium news for Monday, May 16

 

Benchmark Minerals Intelligence (BMI) Boss Simon Moores says we’re on track for $1 trillion of lithium-ion battery committed investment by 2024 – but for lithium mining to keep pace and build for the future it needs $15% or around $150b of that amount.

 

And around $42 billion of new capital investment is needed if the lithium industry is to meet Lithium Carbonate Equivalent (LCE) demand which is expected to reach 2.4 million tonnes by 2030.

That’s almost 1.8 million tonnes more than the 600,000 tonnes of lithium Benchmark forecasts will be produced in 2022.

Benchmark says that works out at approximately $7 billion a year between now and 2028 if the industry is to meet lithium demand by the end of the decade.

But Moores says that target has already been missed – considering most lithium mines take between 7-10 years to come online.

“Accounting for misfires on new lithium supply this $42bn will be closer to $70bn,” he said in a tweet.

 

 

Here’s how ASX lithium stocks were tracking today:

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

 

Code Company Price % Month % Week % Today Market Cap
CZL Cons Zinc Ltd 0.025 -17% 4% 25% $7,027,156.26
TYX Tyranna Res Ltd 0.0075 25% 25% 25% $7,874,164.00
AOA Ausmon Resorces 0.009 -25% -10% 13% $6,858,314.74
TON Triton Min Ltd 0.028 -10% -10% 12% $31,469,604.43
WC8 Wildcat Resources 0.033 -6% 3% 10% $19,358,181.81
XTC Xantippe Res Ltd 0.011 -21% -8% 10% $76,830,568.99
SRZ Stellar Resources 0.023 -21% -8% 10% $17,625,355.15
MLS Metals Australia 0.093 -50% -7% 9% $35,905,742.16
ADV Ardiden Ltd 0.013 0% 8% 8% $32,020,024.27
PLL Piedmont Lithium Inc 0.7475 -19% -19% 8% $364,023,852.00
EVR Ev Resources Ltd 0.039 -37% -20% 8% $33,335,426.56
JRL Jindalee Resources 3.75 -19% -1% 8% $199,678,801.68
MTM Mtmongerresources 0.16 -18% -9% 7% $5,439,004.95
SYA Sayona Mining Ltd 0.255 -28% -11% 6% $1,723,859,410.80
PLS Pilbara Min Ltd 2.6 -12% -5% 5% $7,352,780,456.71
WML Woomera Mining Ltd 0.02 -23% -9% 5% $13,049,828.25
SHH Shree Minerals Ltd 0.0105 -30% -5% 5% $12,222,368.92
ALY Alchemy Resource Ltd 0.021 5% -13% 5% $19,061,481.14
ASN Anson Resources Ltd 0.115 -23% 0% 5% $113,070,356.85
MQR Marquee Resource Ltd 0.095 -17% -10% 4% $28,369,112.14
THR Thor Mining PLC 0.0125 -22% -4% 4% $12,695,296.99
M2R Miramar 0.125 -34% -17% 4% $7,667,105.40
LEL Lithenergy 1.155 15% -28% 4% $50,116,500.00
EPM Eclipse Metals 0.027 -27% 0% 4% $49,949,286.74
ZEO Zeotech Limited 0.057 -11% 2% 4% $83,870,350.85
LKE Lake Resources 1.45 -28% -12% 4% $1,853,512,537.80
QPM Queensland Pacific 0.15 -21% -6% 3% $223,751,404.00
GW1 Greenwing Resources 0.315 -21% -23% 3% $37,590,441.45
IMI Infinitymining 0.165 -11% -13% 3% $9,200,000.00
CXO Core Lithium 1.18 -14% -5% 3% $1,965,812,860.42
AKE Allkem Limited 11.43 -14% -5% 3% $7,078,004,754.60
FFX Firefinch Ltd 0.875 -18% -16% 3% $1,004,056,737.85
LTR Liontown Resources 1.25 -25% -9% 3% $2,663,553,615.57
EFE Eastern Resources 0.036 -29% -18% 3% $34,805,282.09
AGY Argosy Minerals Ltd 0.375 -24% -10% 3% $494,458,524.85
AUN Aurumin 0.19 3% 7% 3% $20,206,301.62
CHR Charger Metals 0.58 -23% -10% 3% $18,408,284.78
DRE Dreadnought Resources Ltd 0.039 -9% -7% 3% $107,869,974.94
RGL Riversgold 0.041 -41% -31% 3% $22,857,843.76
AOU Auroch Minerals Ltd 0.091 -30% -13% 2% $32,155,860.11
INR Ioneer Ltd 0.495 -31% -12% 2% $1,014,280,218.70
ESS Essential Metals Ltd 0.51 -7% -3% 2% $122,906,368.00
1MC Morella Corporation 0.0265 -24% -15% 2% $134,581,563.64
LPD Lepidico Ltd 0.0265 -32% -15% 2% $166,650,028.09
GL1 Global Lithium 1.62 -29% -12% 2% $251,564,670.66
MIN Mineral Resources. 55.04 -11% -2% 2% $10,230,112,506.69
AZL Arizona Lithium Ltd 0.1425 -19% -11% 2% $312,580,689.68
STM Sunstone Metals Ltd 0.058 -17% -6% 2% $146,743,445.83
KZR Kalamazoo Resources 0.335 -15% -9% 2% $47,914,143.42
A8G Australasian Metals 0.36 -27% -18% 1% $14,615,525.37
CRR Critical Resources 0.074 -15% -19% 1% $108,595,744.62
AAJ Aruma Resources Ltd 0.077 -50% -14% 1% $11,929,074.23
GT1 Greentechnology 0.8 -16% -16% 1% $107,623,280.00
MNS Magnis Energy Tech 0.405 -15% -4% 1% $386,594,131.60
LIT Lithium Australia 0.087 -21% -3% 1% $89,023,349.26
PAM Pan Asia Metals 0.45 -15% -8% 1% $32,778,096.58
IGO IGO Limited 10.655 -23% -12% 1% $7,981,602,749.02
GLN Galan Lithium Ltd 1.395 -31% -13% 1% $420,071,119.56
AS2 Askarimetalslimited 0.49 -29% -13% 1% $20,166,105.52
LIS Lisenergylimited 0.575 -19% -4% 1% $94,571,086.59
VUL Vulcan Energy 7.15 -21% -7% 1% $934,680,139.00
AVZ AVZ Minerals Ltd 0.78 -32% 0% 0% $2,752,409,203.44
RLC Reedy Lagoon Corp. 0.025 -26% -14% 0% $13,708,930.75
TKL Traka Resources 0.009 -18% -10% 0% $6,198,971.05
AX8 Accelerate Resources 0.039 -37% 0% 0% $10,274,897.06
EMS Eastern Metals 0.16 -24% -6% 0% $5,696,000.00
FG1 Flynngold 0.135 -21% -7% 0% $8,648,241.75
GSM Golden State Mining 0.064 -29% -6% 0% $6,644,137.73
MMC Mitremining 0.145 -33% -3% 0% $3,927,339.50
RAG Ragnar Metals Ltd 0.037 -21% -14% 0% $13,789,340.89
KGD Kula Gold Limited 0.036 -27% -8% 0% $7,746,322.75
AZI Altamin Limited 0.099 11% 3% 0% $38,779,958.45
ENT Enterprise Metals 0.014 -42% -13% 0% $9,025,055.97
KAI Kairos Minerals Ltd 0.027 -13% -4% 0% $52,976,524.26
AVW Avira Resources Ltd 0.005 -17% 0% 0% $10,593,950.00
BNR Bulletin Res Ltd 0.165 -28% -3% 0% $47,864,887.46
RMX Red Mount Min Ltd 0.008 -16% -11% 0% $13,138,910.86
MRR Minrex Resources Ltd 0.053 -27% -7% 0% $53,461,921.98
RDT Red Dirt Metals Ltd 0.435 -18% 1% 0% $131,158,068.44
LSR Lodestar Minerals 0.01 -38% -17% 0% $17,384,373.48
IPT Impact Minerals 0.0105 -17% -5% 0% $22,999,846.65
SRI Sipa Resources Ltd 0.039 -22% -11% 0% $7,995,967.32
VMC Venus Metals Cor Ltd 0.18 0% -3% 0% $27,194,162.94
G88 Golden Mile Res Ltd 0.052 -17% 0% 0% $10,594,095.93
MM1 Midasmineralsltd 0.27 -10% -21% 0% $14,698,293.75
LRD Lordresourceslimited 0.26 30% -19% 0% $8,004,001.46
WMC Wiluna Mining Corp 0.565 -37% 0% 0% $119,392,943.93
EMH European Metals Hldg 0.99 -26% -12% -1% $140,073,080.18
PSC Prospect Res Ltd 0.9425 4% -2% -1% $414,837,158.35
SCN Scorpion Minerals 0.086 4% 1% -1% $28,869,313.70
RIO Rio Tinto Limited 104.01 -14% -5% -1% $39,196,720,036.26
NVA Nova Minerals Ltd 0.62 -28% -2% -2% $113,527,439.55
LPI Lithium Pwr Int Ltd 0.565 -34% -22% -2% $200,758,287.60
BYH Bryah Resources Ltd 0.045 -20% -10% -2% $10,405,530.05
AM7 Arcadia Minerals 0.21 -14% -11% -2% $7,523,387.50
KTA Krakatoa Resources 0.082 -29% -14% -2% $28,955,633.03
NMT Neometals Ltd 1.365 -22% -1% -3% $767,726,954.40
EUR European Lithium Ltd 0.077 -30% -13% -3% $109,250,177.24
AML Aeon Metals Ltd. 0.037 -47% -18% -3% $35,824,837.74
RAS Ragusa Minerals Ltd 0.073 -17% -5% -3% $9,424,337.25
TEM Tempest Minerals 0.063 -37% -17% -3% $32,792,988.09
MMG Monger Gold Ltd 0.285 -8% -21% -3% $7,375,000.00
PGD Peregrine Gold 0.425 -11% -11% -3% $16,846,134.36
CAI Calidus Resources 0.82 -22% -12% -4% $341,952,456.80
INF Infinity Lithium 0.135 -16% -10% -4% $58,076,121.74
TMB Tambourahmetals 0.2025 -22% -17% -4% $8,650,445.58
WR1 Winsome Resources 0.39 -19% -13% -4% $54,680,667.57
MXR Maximus Resources 0.07 -17% -10% -4% $23,207,121.06
ARN Aldoro Resources 0.22 -14% -19% -4% $22,819,125.47
LRS Latin Resources Ltd 0.105 -43% -13% -5% $211,308,539.64
ZNC Zenith Minerals Ltd 0.35 -10% -8% -5% $127,244,537.35
QXR Qx Resources Limited 0.05 -35% -11% -6% $45,546,203.01
PNN PepinNini Minerals 0.535 -37% -21% -7% $35,329,313.30
LRV Larvotto Resources 0.3 20% -6% -8% $13,392,437.50
FRS Forrestaniaresources 0.235 -35% -24% -8% $7,165,195.02
NWM Norwest Minerals 0.042 -26% -18% -9% $8,307,939.80
DTM Dart Mining NL 0.06 -26% -14% -9% $8,216,401.38
WCN White Cliff Min Ltd 0.02 -39% -17% -9% $14,379,273.96
VKA Viking Mines Ltd 0.009 -18% -10% -10% $10,252,584.31
TSC Twenty Seven Co. Ltd 0.0035 -13% -13% -13% $10,643,255.62
BMM Balkanminingandmin 0.26 -29% -15% -21% $10,807,500.00
Wordpress Table Plugin

A total of 61 stocks were in the green today, with 26 flatlining and 34 in the red.

 

Who’s got news out today?

CONSOLIDATED ZINC (ASX:CZL)

CZL is the latest ASX stock to pivot to lithium, locking in a deal to buy WA-based Westoz Lithium for $740,000 in cash and shares.

Westoz Lithium has ~1,400km2 of ground near two of the world’s largest hard rock lithium deposits —  Pilbara Minerals’ (ASX:PLS) Pilgangoora project and Mineral Resources’ (ASX:MIN) Wodgina project.

Global Lithium Resources’ (ASX:GL1) Marble Bar Lithium Project (MBLP) is also nearby.

WA is one of the safest jurisdictions in the world, a refreshing change of pace for CZL which has struggled to make a go of its ‘Plomosa’ zinc mine in Mexico.

Late last year, bandits allegedly stole ~90 tonnes of zinc and lead concentrate from the mine (valued at around US$90,000) after locking security guards and employees in a sea container.

March quarter results were also disappointing, with CZL posting a small loss on the sale of 200t of zinc and 42t of lead concentrate due to the “cumulative impact of several incidents”.

 

TYRANNA RESOURCES (ASX:TYX)

The company is also buying a lithium project, this time in Angola, West Africa.

The company says the occurrence of spodumene, the large size and number of pegmatites and limited historical exploration is encouraging and the potential to rapidly discover economically significant hard-rock lithium mineralisation is “very high”.

The plan is to commence drilling ASAP to examine previously identified pegmatites, and define drill targets.

 

METALS AUSTRALIA (ASX:MLS)

Initial 44-hole RC drilling program testing the Manindi Lithium-Caesium-Tantalum (Rubidium) (LCT) pegmatites has been completed at the Manindi project in WA. Rockchip results of up 2% to 2.30% Li2O and 0.70% Rb were previously reported from this zone.

“The company continues to produce thick intersections of lithium bearing pegmatite from both the Foundation and Mulgara pegmatites at the Manindi Project,” chairman Mike Scivolo said.

“It looks like the company is onto a significant LCT pegmatite discovery at Manindi and we can now start to build a substantial lithium resource at the Project.”

Assay results are expected shortly.

 

KRAKATOA RESOURCES (ASX:KTA)

The company has kicked off drilling at its 100% owned Dalgaranga critical metals project in WA, which has an Exploration Target, based on historical drill holes of between 1,470,000 to 3,185,000 tonnes with estimated grades of Rubidium (500-2000ppm), Lithium (50-300ppm), Niobium (100-500ppm), Tantalum (25-100ppm), Tin (50-700ppm) and Tungsten (10-100ppm).

“With buoyant prices of the project’s critical and tech metals fuelled by demand, we look forward to announcing the nature and extent of this potential maiden resource,” CEO Mark Major says.

CZL, TYX, MLS and KTA share price charts

 

 

Categories: Mining

share

Related Posts