The EV facility aims to increase capacity to 33GWh in the next few years. Pic: seksan Mongkhonkhamsao/ Moment/ Via Getty Images
Eye on Lithium: World #4 carmaker Stellantis expects shortage of EV batteries by 2024-25
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- Stellantis and Samsung plan EV facility to supply battery modules as EV demand surges, construction to begin later this year
- Emerging lithium producer SYA appoints new chief financial officer
- CAI begins drilling the Pirra Lithium Spear Hill discovery in WA’s Pilbara region
All your latest lithium news for Friday, May 27.
Stellantis, the world’s fourth largest carmaker, plans to build an EV battery manufacturing facility in Kokomo, Indiana with joint venture partner Samsun SDI targeting an initial production capacity of 23GWh – increasing further as demand for EVs is expected to rise.
The joint venture company committed more than $2.5 billion on Wednesday but this amount could gradually increase up to $3.1 billion as the facility plans to supply battery modules for a range of vehicles produced at Stellantis’ North American assembly plants.
Plant construction activities are expected to begin later this year and production is set to take off in the first quarter of 2025.
“Just under one year ago, we committed to an aggressive electrification strategy anchored by five giga-factories between Europe and North America,” Stellantis CEO Carlos Tavares said.
“This announcement further solidifies our global battery production footprint.”
After revealing the plans at a media briefing earlier this week, Tavares told journalists this would be the fifth and last of the gigafactories the automaker plans to build.
He then went on to say he expects a shortage of EV batteries by 2024-25, followed by a lack of raw materials for the vehicles that will slow availability and adoption of EVs by 2027-2028.
Tavares urged policy makers globally to stop aggressively moving targets for EVs forward, adding the only thing that helps car companies is stability.
“The speed at which we are trying to move all together for the right reason, which is fixing the global warming issue, is so high that the supply chain and the production capacities have no time to adjust,” he said.
In February, Stellantis and lithium-ion battery developer LG Energy Solution revealed plans to build Canada’s first large-scale electric vehicle battery manufacturing facility in Windsor, Ontario targeting a battery production capacity of more than 45 GWh/year.
Here’s how ASX lithium stocks were tracking today:
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| Code | Company | Price | % Month | % Week | % Today | Market Cap |
|---|---|---|---|---|---|---|
| RAS | Ragusa Minerals Ltd | 0.17 | 98% | 113% | 21% | $17,592,096.20 |
| WML | Woomera Mining Ltd | 0.024 | -11% | 20% | 20% | $13,736,661.32 |
| VMC | Venus Metals Cor Ltd | 0.19 | -3% | 9% | 15% | $24,927,982.70 |
| CZL | Cons Zinc Ltd | 0.025 | -17% | 4% | 14% | $7,729,871.89 |
| LSR | Lodestar Minerals | 0.01 | -29% | 0% | 11% | $15,645,936.13 |
| FFX | Firefinch Ltd | 1.05 | 2% | 18% | 9% | $1,133,993,492.16 |
| MTM | Mtmongerresources | 0.175 | -15% | 21% | 9% | $5,801,605.28 |
| ESS | Essential Metals Ltd | 0.59 | -5% | 13% | 9% | $132,738,877.44 |
| ADV | Ardiden Ltd | 0.012 | -20% | 0% | 9% | $29,351,688.92 |
| TKM | Trek Metals Ltd | 0.0865 | 4% | 22% | 8% | $24,836,812.00 |
| EMS | Eastern Metals | 0.205 | -5% | 17% | 8% | $6,764,000.00 |
| MRR | Minrex Resources Ltd | 0.057 | -19% | 4% | 8% | $53,461,921.98 |
| LPI | Lithium Pwr Int Ltd | 0.585 | -26% | 1% | 7% | $190,283,942.16 |
| ENT | Enterprise Metals | 0.015 | -29% | 7% | 7% | $9,025,055.97 |
| PLL | Piedmont Lithium Inc | 0.87 | -7% | 13% | 6% | $432,608,056.00 |
| QPM | Queensland Pacific | 0.18 | 6% | 9% | 6% | $265,814,232.27 |
| 1MC | Morella Corporation | 0.0275 | -24% | -5% | 6% | $134,581,563.64 |
| QXR | Qx Resources Limited | 0.055 | -20% | 15% | 6% | $44,686,840.69 |
| DAF | Discovery Alaska Ltd | 0.075 | 88% | 67% | 6% | $15,849,663.56 |
| SHH | Shree Minerals Ltd | 0.01 | -23% | 11% | 5% | $11,611,250.47 |
| MNS | Magnis Energy Tech | 0.41 | -10% | 4% | 5% | $376,929,278.31 |
| PGD | Peregrine Gold | 0.52 | 3% | 13% | 5% | $18,951,901.16 |
| VUL | Vulcan Energy | 7.55 | -12% | 5% | 5% | $946,528,197.10 |
| WCN | White Cliff Min Ltd | 0.021 | -25% | -5% | 5% | $13,072,067.24 |
| MQR | Marquee Resource Ltd | 0.105 | -19% | 12% | 5% | $31,194,848.50 |
| CXO | Core Lithium | 1.34 | 0% | 8% | 5% | $2,217,411,998.72 |
| LTR | Liontown Resources | 1.34 | -7% | 9% | 5% | $2,806,048,253.44 |
| GSM | Golden State Mining | 0.068 | -13% | 8% | 5% | $6,747,952.38 |
| ARN | Aldoro Resources | 0.23 | -18% | 2% | 5% | $21,826,989.58 |
| SRZ | Stellar Resources | 0.023 | -21% | 5% | 5% | $18,464,657.77 |
| AOU | Auroch Minerals Ltd | 0.092 | -26% | 7% | 5% | $31,794,558.31 |
| PLS | Pilbara Min Ltd | 2.935 | 10% | 8% | 4% | $8,364,904,082.33 |
| RAG | Ragnar Metals Ltd | 0.047 | 0% | 15% | 4% | $17,063,320.01 |
| G88 | Golden Mile Res Ltd | 0.049 | -26% | -6% | 4% | $9,575,432.86 |
| CRR | Critical Resources | 0.079 | -21% | -1% | 4% | $113,058,583.44 |
| RLC | Reedy Lagoon Corp. | 0.027 | -16% | 0% | 4% | $14,257,287.98 |
| AKE | Allkem Limited | 13.99 | 18% | 13% | 4% | $8,602,007,580.14 |
| AGY | Argosy Minerals Ltd | 0.45 | -2% | 17% | 3% | $589,319,217.57 |
| GW1 | Greenwing Resources | 0.315 | -31% | -3% | 3% | $37,590,441.45 |
| BNR | Bulletin Res Ltd | 0.165 | -25% | -8% | 3% | $46,414,576.00 |
| AS2 | Askarimetalslimited | 0.5 | -24% | -3% | 3% | $20,166,105.52 |
| PNN | PepinNini Minerals | 0.51 | -36% | -11% | 3% | $30,413,930.58 |
| INR | Ioneer Ltd | 0.545 | -16% | 8% | 3% | $1,108,388,692.60 |
| GL1 | Globallith | 1.655 | -18% | -2% | 3% | $255,504,192.16 |
| NMT | Neometals Ltd | 1.32 | -19% | 2% | 3% | $704,663,668.86 |
| AX8 | Accelerate Resources | 0.039 | -22% | 3% | 3% | $10,011,438.16 |
| SRI | Sipa Resources Ltd | 0.039 | -20% | -3% | 3% | $7,790,942.51 |
| RIO | Rio Tinto Limited | 113.595 | 4% | 6% | 3% | $41,123,332,186.92 |
| IGO | IGO Limited | 12.255 | -4% | 11% | 2% | $9,064,495,721.61 |
| MIN | Mineral Resources. | 61.55 | 13% | 4% | 2% | $11,393,700,298.74 |
| PAM | Pan Asia Metals | 0.49 | -10% | 2% | 2% | $35,356,149.12 |
| LPD | Lepidico Ltd | 0.0285 | -23% | 6% | 2% | $182,192,084.82 |
| WR1 | Winsome Resources | 0.415 | -13% | -8% | 1% | $55,396,737.54 |
| AZI | Altamin Limited | 0.097 | 13% | 0% | 1% | $37,604,808.19 |
| CHR | Charger Metals | 0.555 | -20% | 0% | 1% | $17,919,569.25 |
| RDT | Red Dirt Metals Ltd | 0.585 | 4% | 16% | 1% | $174,877,424.58 |
| GLN | Galan Lithium Ltd | 1.415 | -19% | 1% | 1% | $427,681,103.61 |
| GT1 | Greentechnology | 0.955 | -17% | 14% | 1% | $129,420,400.00 |
| AML | Aeon Metals Ltd. | 0.036 | -35% | -5% | 0% | $33,939,319.97 |
| AVZ | AVZ Minerals Ltd | 0.78 | -26% | 0% | 0% | $2,752,409,203.44 |
| EMH | European Metals Hldg | 0.94 | -25% | -3% | 0% | $132,330,347.10 |
| EUR | European Lithium Ltd | 0.071 | -29% | -10% | 0% | $98,186,868.16 |
| LIT | Lithium Australia | 0.087 | -13% | 2% | 0% | $90,059,374.49 |
| SYA | Sayona Mining Ltd | 0.205 | -41% | -24% | 0% | $1,472,463,246.73 |
| TON | Triton Min Ltd | 0.028 | -18% | -3% | 0% | $35,245,956.96 |
| BYH | Bryah Resources Ltd | 0.047 | -25% | 4% | 0% | $10,631,737.23 |
| DTM | Dart Mining NL | 0.07 | -8% | -11% | 0% | $9,468,211.20 |
| FG1 | Flynngold | 0.14 | -10% | -3% | 0% | $8,968,547.00 |
| IMI | Infinitymining | 0.155 | -23% | -3% | 0% | $8,912,500.00 |
| LRV | Larvottoresources | 0.33 | -27% | 10% | 0% | $13,598,475.00 |
| MMC | Mitremining | 0.145 | -19% | 0% | 0% | $3,927,339.50 |
| TMB | Tambourahmetals | 0.215 | -19% | -4% | 0% | $8,856,408.57 |
| TSC | Twenty Seven Co. Ltd | 0.003 | -25% | -25% | 0% | $7,982,441.72 |
| AZL | Arizona Lithium Ltd | 0.15 | -17% | 0% | 0% | $334,907,881.80 |
| SCN | Scorpion Minerals | 0.105 | 40% | 17% | 0% | $34,842,275.16 |
| AVW | Avira Resources Ltd | 0.004 | -33% | -20% | 0% | $8,475,160.00 |
| A8G | Australasian Metals | 0.39 | -20% | 11% | 0% | $16,056,492.66 |
| NWM | Norwest Minerals | 0.046 | -18% | 2% | 0% | $8,307,939.80 |
| AOA | Ausmon Resorces | 0.009 | 0% | 13% | 0% | $7,715,604.09 |
| VKA | Viking Mines Ltd | 0.008 | -27% | -11% | 0% | $8,202,067.45 |
| WC8 | Wildcat Resources | 0.033 | -15% | -3% | 0% | $21,293,999.99 |
| THR | Thor Mining PLC | 0.013 | -19% | -7% | 0% | $13,753,238.41 |
| DRE | Dreadnought Resources Ltd | 0.043 | -2% | 10% | 0% | $122,063,392.69 |
| MM1 | Midasmineralsltd | 0.325 | -7% | 7% | 0% | $17,692,390.63 |
| MMG | Monger Gold Ltd | 0.305 | 5% | 3% | 0% | $7,625,000.00 |
| WMC | Wiluna Mining Corp | 0.48251 | -28% | 0% | 0% | $101,961,574.11 |
| AUN | Aurumin | 0.175 | -8% | -8% | 0% | $19,114,069.10 |
| ZEO | Zeotech Limited | 0.053 | -17% | 2% | 0% | $80,820,519.91 |
| ALY | Alchemy Resource Ltd | 0.027 | -16% | -4% | 0% | $25,732,999.54 |
| LIS | Lisenergylimited | 0.625 | -7% | 4% | 0% | $103,696,366.88 |
| TYX | Tyranna Res Ltd | 0.009 | 50% | 0% | 0% | $11,811,246.00 |
| LNR | Lanthanein Resources | 0.024 | -25% | -8% | 0% | $20,107,813.68 |
| DAL | Dalaroometalsltd | 0.12 | -25% | -11% | 0% | $3,405,000.00 |
| LKE | Lake Resources | 1.455 | -28% | 4% | 0% | $1,942,882,718.48 |
| PSC | Prospect Res Ltd | 0.96 | 2% | 1% | -1% | $430,068,258.39 |
| ZNC | Zenith Minerals Ltd | 0.3825 | -6% | 5% | -1% | $132,403,099.68 |
| IR1 | Irismetals | 0.39 | -38% | -38% | -1% | $19,987,000.00 |
| FTL | Firetail Resources | 0.34 | -9% | 5% | -1% | $21,314,962.50 |
| JRL | Jindalee Resources | 3.25 | -26% | -10% | -2% | $189,350,587.80 |
| ASN | Anson Resources Ltd | 0.1325 | -2% | 15% | -2% | $138,768,165.23 |
| CAI | Calidus Resources | 0.88 | -8% | 7% | -2% | $362,067,307.20 |
| NVA | Nova Minerals Ltd | 0.62 | -16% | 0% | -2% | $114,428,450.98 |
| FRS | Forrestaniaresources | 0.195 | -43% | -7% | -3% | $5,619,760.80 |
| KTA | Krakatoa Resources | 0.075 | -35% | -5% | -3% | $26,542,663.61 |
| LEL | Lithenergy | 1.265 | 28% | 7% | -3% | $58,695,000.00 |
| EFE | Eastern Resources | 0.035 | -26% | -8% | -3% | $35,799,718.72 |
| MXR | Maximus Resources | 0.064 | -23% | -9% | -3% | $20,981,780.69 |
| RGL | Riversgold | 0.042 | -35% | -13% | -3% | $24,857,905.09 |
| STM | Sunstone Metals Ltd | 0.054 | -21% | -4% | -4% | $144,168,999.41 |
| INF | Infinity Lithium | 0.13 | -24% | 0% | -4% | $56,026,763.91 |
| EPM | Eclipse Metals | 0.026 | -21% | 0% | -4% | $51,870,413.15 |
| TEM | Tempest Minerals | 0.05 | -46% | -21% | -4% | $26,234,390.47 |
| M2R | Miramar | 0.125 | -34% | 9% | -4% | $8,306,030.85 |
| AM7 | Arcadia Minerals | 0.22 | -25% | 0% | -4% | $8,048,275.00 |
| IPT | Impact Minerals | 0.011 | -13% | 0% | -4% | $25,190,308.24 |
| MLS | Metals Australia | 0.085 | -43% | -23% | -4% | $38,715,217.69 |
| LRD | Lordresourceslimited | 0.305 | 2% | 15% | -5% | $9,851,078.72 |
| EVR | Ev Resources Ltd | 0.039 | -29% | -7% | -5% | $37,965,346.91 |
| KZR | Kalamazoo Resources | 0.34 | -18% | -1% | -5% | $51,906,988.71 |
| TKL | Traka Resources | 0.0085 | -15% | 6% | -6% | $6,198,971.05 |
| RMX | Red Mount Min Ltd | 0.0085 | -6% | 6% | -6% | $14,781,274.72 |
| AAJ | Aruma Resources Ltd | 0.066 | -31% | -16% | -6% | $10,987,305.21 |
| LRS | Latin Resources Ltd | 0.1125 | -34% | -17% | -6% | $231,458,141.52 |
| KAI | Kairos Minerals Ltd | 0.026 | -10% | -4% | -7% | $54,938,617.75 |
| XTC | Xantippe Res Ltd | 0.011 | -21% | 10% | -8% | $92,196,682.79 |
| BMM | Balkanminingandmin | 0.27 | -24% | 0% | -10% | $9,825,000.00 |
| KGD | Kula Gold Limited | 0.031 | -34% | -6% | -11% | $7,531,147.12 |
A total of 58 stocks were in the green today, with 36 flatlining and 33 in the red.
Who’s got news out today?
Sayona Mining (ASX:SYA)
Emerging lithium producer SYA is building its team for the launch of production in Quebec, Canada with the appointment of a new chief financial officer.
Salvatore Vitare is Sayona Québec’s new chief financial officer, responsible for overseeing all financial activities as part of a company-wide revamp to reflect SYA’s progression towards production in 2023.
“With our North American Lithium operation picking up speed together with our other operations such as our northern hub and move towards downstream processing, Sayona has the right team in place at the right time for the world’s decarbonisation drive,” MD Bretty Lynch said.
The company’s northern Québec hub is gaining momentum, with additional drilling planned for the northern summer of 288 drill holes and results from the last drilling program of 38 holes expected in June.
Calidus Resources (ASX:CAI)
CAI kicked off a maiden drill program at the Pirra Lithium Spear Hill discovery in Western Australia’s Pilbara region, targeting an outcropping lithium body over 1.2km of the total 2.5km strike length where rock chip assayed up to 2.34% lithium oxide.
The initial drill program will comprise of 38 holes for approximately 3,000m.
“We believe Spear Hill has excellent potential, as indicated by the high-grade lithium rock-chip results identified earlier this year,” MD Dave Reeves said.
“Concurrently we are actively assessing the lithium potential across the wider Spear Hill area and the rest of the tenement package, utilising interpretation of remotely sensed data, field mapping, and rock-chip sampling.”
Venus Metals (ASX:VMC)
After identifying LCT pegmatites at the Henderson tenements northwest of Menzies in the WA’s Eastern Goldfields region back in February, VMC has now received the latest results for 89 rock samples, with 29 pegmatite samples reporting over 100ppm lithium oxide.
Maximum returns of 5.8% lithium oxide and 3.6% lithium oxide have been received, respectively.
The two highest lithium assays are from the previously reported pegmatites at the Emerald SE Prospect which has been identified as a priority area for drilling.
A Reverse Circulation (RC) drill rig has been contracted to test areas prospective for lithium and will also follow‐up gold targets identified from Stage 1 aircore drilling.
Alchemy Resources (ASX:ALY)
Fieldwork across ALY’s Karonie Project, east of Kalgoorlie, has identified outcropping pegmatites over the recently discovered lithium in soils anomalies.
The pegmatite cluster has been mapped over an initial 7km x 1.5km area, doubling the strike length at the Cherry and Hickory prospects.
“We expect the infill soils will zero in on zones which sit under the thin surface cover, and this will help us plan the next steps,” CEO James Wilson said.
“The rock-chip assays are all showing very high tenor pathfinder anomalism which plots within the highly evolved and fractionated granite chemistry, telling us that we are exploring in exactly the right spot.”
