High Voltage: EV graveyards could be US$1b source of critical minerals by 2045

Reports says we could source US$1bn of critical minerals from EV scraps by 2045
US$1600 worth of Li-ion battery metals and REEs could be recovered per vehicle
Automotive OEMs are already building out circular rare earths supply chains

Our High Voltage column wraps all the news driving ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, and vanadium.

With over 100 million Electric Vehicles expected to reach end-of-life over the next two decades, IDTechEx reckons these automotive scraps could become an attractive source of critical minerals.

IDTechEx’s “Critical Material Recovery 2025-2045: Technologies, Markets, Players” report predicts that the value of critical materials recovered annually by 2045 will surpass a whopping US$100b.

The recovery of valuable platinum, palladium, and rhodium used in catalytic converters for emission control has long supported the auto scrap recycling market, with a typical internal combustion engine vehicle containing US$100s to US$1000s worth of PGMs.

But greater vehicle electrification presents critical metals and rare-earth elements used in Li-ion batteries and electric motors are the emerging value opportunity, the report states.

In electric vehicles, high-value critical material components reside within the battery and the electric motor.

Tens of kilograms of critical metals, such as lithium, nickel, and cobalt, are used in cathode materials within Li-ion batteries.

Plus, rare-earth elements such as neodymium, praseodymium, and terbium compose up to 33% by weight of the NdFeB permanent magnets used in the electric motor.

IDTechEx estimates that up to US$1600 worth of critical Li-ion battery metals and rare-earth elements can be recovered per electric vehicle.

Graph: Critical materials defined by key regions and the number employed in electric vehicles. Source: IDTechEx.

Already automotive OEMs, including Ford, BMW, and Bentley, are building circular REE supply chains to mitigate supply challenges, but short term they’ll still have to weather low end-of-life component supply while the majority of EVs remain in use.

Long term, recovering these critical minerals from EVs is not so straightforward compared to ICE vehicles, so IDTechEx says pyrometallurgical (smelting) and hydrometallurgical metal extraction technologies will need to mature a bit before we’ll see this as a viable secondary source.

Battery Metals Winners and Losers

Here’s how a basket of ASX stocks with exposure to lithium, cobalt, graphite, nickel, rare earths, magnesium, manganese and vanadium is performing >>>

CODE	COMPANY	PRICE	WEEK %	MONTH %	6 MONTH %	YEAR %	YTD %	MARKET CAP
1AE	Auroraenergymetals	0.042	20%	-30%	-60%	-53%	-63%	$ 6,983,485.74
1MC	Morella Corporation	0.032	-3%	-11%	-57%	-79%	-77%	$ 8,935,551.27
A11	Atlantic Lithium	0.25	9%	-2%	-34%	-47%	-37%	$ 165,665,608.52
A8G	Australasian Metals	0.13	24%	8%	83%	-7%	-24%	$ 6,775,664.22
AAJ	Aruma Resources Ltd	0.018	-33%	13%	6%	-45%	-33%	$ 4,219,105.27
ABX	ABX Group Limited	0.041	-5%	-11%	-38%	-49%	-43%	$ 10,251,652.87
ADD	Adavale Resource Ltd	0.002	0%	-33%	-60%	-86%	-71%	$ 2,447,530.73
ADV	Ardiden Ltd	0.125	-7%	-4%	-17%	-52%	-29%	$ 7,814,688.25
AGY	Argosy Minerals Ltd	0.042	2%	0%	-77%	-78%	-69%	$ 61,148,679.23
AKN	Auking Mining Ltd	0.007	-13%	-42%	-59%	-88%	-85%	$ 1,912,122.24
ALY	Alchemy Resource Ltd	0.006	0%	0%	-14%	-45%	-40%	$ 7,068,457.54
AM7	Arcadia Minerals	0.037	23%	6%	-47%	-66%	-49%	$ 4,272,328.65
AML	Aeon Metals Ltd.	0.005	0%	0%	-17%	-74%	-55%	$ 5,482,003.11
ANX	Anax Metals Ltd	0.021	11%	11%	5%	-58%	-30%	$ 14,586,659.93
AOA	Ausmon Resorces	0.003	50%	0%	0%	0%	0%	$ 2,647,498.36
AQD	Ausquest Limited	0.009	-10%	-18%	-18%	-31%	-18%	$ 7,426,343.01
AR3	Austrare	0.063	7%	-14%	-45%	-74%	-58%	$ 9,951,715.94
ARL	Ardea Resources Ltd	0.4225	-1%	-10%	-39%	-33%	-11%	$ 83,866,824.30
ARN	Aldoro Resources	0.08	0%	10%	-1%	-33%	-36%	$ 10,769,899.44
ARR	American Rare Earths	0.275	8%	8%	-14%	77%	67%	$ 135,966,407.23
ARU	Arafura Rare Earths	0.1575	5%	2%	-33%	-44%	-5%	$ 394,292,590.56
AS2	Askarimetalslimited	0.019	0%	-10%	-78%	-92%	-89%	$ 1,765,262.63
ASL	Andean Silver	1.17	18%	54%	297%	368%	333%	$ 134,976,150.27
ASM	Ausstratmaterials	0.56	3%	17%	-45%	-70%	-56%	$ 104,258,790.70
ASN	Anson Resources Ltd	0.088	-1%	-8%	-7%	-45%	-37%	$ 113,707,282.13
ASO	Aston Minerals Ltd	0.014	17%	56%	0%	-61%	-42%	$ 16,835,835.50
ASR	Asra Minerals Ltd	0.005	-17%	-9%	25%	-38%	-29%	$ 11,157,789.99
ATM	Aneka Tambang	1.03	0%	0%	-6%	-11%	-13%	$ 1,342,758.47
AUZ	Australian Mines Ltd	0.0075	7%	7%	-46%	-50%	-25%	$ 9,789,584.87
AVL	Aust Vanadium Ltd	0.015	0%	0%	-6%	-46%	-29%	$ 129,487,871.16
AVW	Avira Resources Ltd	0.001	0%	0%	0%	-50%	-50%	$ 2,938,790.00
AX8	Accelerate Resources	0.009	-10%	0%	-70%	-57%	-79%	$ 5,595,785.39
AXE	Archer Materials	0.225	-4%	-8%	-48%	-52%	-41%	$ 57,340,577.93
AXN	Alliance Nickel Ltd	0.039	22%	11%	18%	-51%	-9%	$ 28,307,744.99
AZI	Altamin Limited	0.03	3%	-9%	-43%	-56%	-45%	$ 13,165,471.02
AZL	Arizona Lithium Ltd	0.015	7%	-6%	-46%	-12%	-52%	$ 71,581,032.45
BC8	Black Cat Syndicate	0.38	4%	7%	90%	65%	52%	$ 166,338,628.88
BCA	Black Canyon Limited	0.052	-7%	-21%	-48%	-61%	-63%	$ 4,251,284.13
BHP	BHP Group Limited	39.57	2%	-1%	-7%	-13%	-22%	$ 200,672,791,985.40
BKT	Black Rock Mining	0.055	2%	4%	-19%	-38%	-35%	$ 68,862,672.18
BM8	Battery Age Minerals	0.125	25%	14%	-7%	-61%	-34%	$ 12,093,138.20
BMM	Balkanminingandmin	0.046	12%	0%	-32%	-80%	-58%	$ 3,957,863.60
BNR	Bulletin Res Ltd	0.042	-2%	-2%	-46%	-45%	-70%	$ 12,331,759.57
BOA	Boadicea Resources	0.019	6%	-5%	-24%	-50%	-47%	$ 2,343,704.09
BSX	Blackstone Ltd	0.046	15%	84%	-19%	-61%	-34%	$ 23,229,224.35
BUR	Burleyminerals	0.08	-14%	-33%	45%	-41%	-52%	$ 12,180,046.46
BUX	Buxton Resources Ltd	0.064	5%	-15%	-47%	-71%	-62%	$ 13,360,658.43
BYH	Bryah Resources Ltd	0.005	0%	0%	-38%	-70%	-62%	$ 2,516,434.28
CAE	Cannindah Resources	0.043	-7%	-14%	-34%	-67%	-57%	$ 25,435,517.93
CAI	Calidus Resources	0.115	0%	0%	-30%	-38%	-47%	$ 93,678,205.58
CDT	Castle Minerals	0.0035	-13%	-13%	-50%	-65%	-63%	$ 4,804,849.37
CHN	Chalice Mining Ltd	1.4875	49%	49%	32%	-50%	-12%	$ 494,064,020.76
CHR	Charger Metals	0.09	10%	32%	-25%	-53%	-45%	$ 6,967,822.50
CLA	Celsius Resource Ltd	0.011	0%	-15%	-15%	5%	-8%	$ 29,134,952.92
CLZ	Classic Min Ltd	0.001	0%	0%	-98%	-98%	-98%	$ 1,439,025.56
CMO	Cosmometalslimited	0.03	-3%	-6%	-14%	-46%	-47%	$ 3,929,786.22
CMX	Chemxmaterials	0.036	0%	9%	-37%	-66%	-56%	$ 4,386,758.91
CNB	Carnaby Resource Ltd	0.375	3%	-6%	-26%	-61%	-53%	$ 62,757,094.79
CNJ	Conico Ltd	0.001	-50%	0%	-60%	-86%	-80%	$ 2,201,527.53
COB	Cobalt Blue Ltd	0.0695	4%	1%	-52%	-75%	-70%	$ 28,728,282.66
CRI	Criticalim	0.013	8%	-28%	-38%	8%	86%	$ 34,720,409.22
CRR	Critical Resources	0.012	9%	71%	-25%	-70%	-43%	$ 21,364,203.35
CTM	Centaurus Metals Ltd	0.425	8%	21%	42%	-41%	-21%	$ 210,891,659.75
CTN	Catalina Resources	0.0025	25%	-17%	-38%	-38%	-44%	$ 3,096,217.23
CWX	Carawine Resources	0.091	-4%	0%	-13%	-16%	-17%	$ 21,487,415.86
CXO	Core Lithium	0.1025	16%	10%	-43%	-74%	-59%	$ 203,008,876.68
CY5	Cygnus Metals Ltd	0.068	0%	17%	42%	-66%	-50%	$ 24,686,017.85
CZN	Corazon Ltd	0.004	0%	0%	-50%	-67%	-73%	$ 2,671,622.36
DEV	Devex Resources Ltd	0.1375	6%	-29%	-56%	-64%	-43%	$ 66,253,600.65
DLI	Delta Lithium	0.22	26%	5%	-31%	-72%	-53%	$ 146,248,464.11
DM1	Desert Metals	0.023	-8%	0%	-26%	-49%	-55%	$ 6,104,790.94
DRE	Dreadnought Resources Ltd	0.0155	3%	-3%	-14%	-72%	-48%	$ 59,808,000.00
DTM	Dart Mining NL	0.015	0%	17%	17%	-39%	-4%	$ 4,845,616.35
DVP	Develop Global Ltd	1.975	-1%	-5%	-21%	-38%	-30%	$ 509,655,822.48
DYM	Dynamicmetalslimited	0.205	17%	41%	0%	-18%	46%	$ 7,020,000.00
E25	Element 25 Ltd	0.205	0%	-5%	-7%	-55%	-51%	$ 45,082,042.21
EFE	Eastern Resources	0.004	0%	0%	-43%	-50%	-50%	$ 4,967,785.84
EG1	Evergreenlithium	0.04	14%	-13%	-62%	-86%	-79%	$ 2,249,200.00
EGR	Ecograf Limited	0.097	2%	-3%	-46%	-16%	-31%	$ 43,587,054.62
EMC	Everest Metals Corp	0.115	5%	-2%	44%	-8%	44%	$ 21,422,557.54
EMH	European Metals Hldg	0.16	-9%	-20%	-47%	-76%	-62%	$ 33,191,152.80
EMN	Euromanganese	0.055	-4%	57%	-41%	-68%	-45%	$ 11,202,642.15
EMS	Eastern Metals	0.027	-4%	4%	-7%	-21%	-23%	$ 2,955,582.37
EMT	Emetals Limited	0.004	0%	-20%	-20%	-47%	-43%	$ 3,400,000.00
ENT	Enterprise Metals	0.004	0%	33%	33%	0%	0%	$ 4,413,269.00
ENV	Enova Mining Limited	0.009	-47%	13%	-77%	50%	-40%	$ 8,864,364.14
ESR	Estrella Res Ltd	0.0065	8%	30%	63%	-13%	30%	$ 11,815,083.81
ETM	Energy Transition	0.024	9%	0%	-37%	-40%	-38%	$ 32,400,299.59
EUR	European Lithium Ltd	0.04	5%	14%	-34%	-44%	-62%	$ 55,924,905.60
EV1	Evolutionenergy	0.024	0%	-20%	-76%	-87%	-83%	$ 8,653,611.43
EVG	Evion Group NL	0.023	0%	-4%	0%	-28%	-32%	$ 7,633,190.11
EVR	Ev Resources Ltd	0.005	0%	25%	-62%	-62%	-55%	$ 6,981,357.43
FBM	Future Battery	0.018	0%	-10%	-70%	-86%	-75%	$ 14,637,830.42
FG1	Flynngold	0.028	12%	8%	-26%	-47%	-38%	$ 7,137,661.16
FGR	First Graphene Ltd	0.049	-2%	0%	-14%	-27%	-31%	$ 32,548,334.43
FIN	FIN Resources Ltd	0.005	-17%	-29%	-74%	-58%	-77%	$ 3,246,343.50
FRB	Firebird Metals	0.105	5%	-19%	-9%	-32%	-28%	$ 14,947,947.11
FRS	Forrestaniaresources	0.012	0%	-45%	-40%	-76%	-57%	$ 2,103,214.66
FTL	Firetail Resources	0.08	7%	14%	68%	-20%	9%	$ 15,527,849.71
G88	Golden Mile Res Ltd	0.009	-18%	-10%	-31%	-76%	-53%	$ 3,701,005.70
GAL	Galileo Mining Ltd	0.16	3%	-6%	-33%	-48%	-44%	$ 31,619,988.32
GBR	Greatbould Resources	0.049	14%	4%	-21%	-20%	-25%	$ 29,777,121.79
GCM	Green Critical Min	0.0025	25%	25%	-50%	-64%	-72%	$ 3,671,356.60
GED	Golden Deeps	0.038	-3%	52%	-17%	-34%	-17%	$ 5,909,371.61
GL1	Globallith	0.18	9%	-25%	-69%	-88%	-85%	$ 46,905,819.48
GLN	Galan Lithium Ltd	0.105	-2%	-20%	-73%	-84%	-84%	$ 60,501,062.69
GRE	Greentechmetals	0.094	1%	6%	-68%	-81%	-80%	$ 7,560,277.73
GRL	Godolphin Resources	0.015	7%	25%	-58%	-62%	-62%	$ 2,994,477.09
GSM	Golden State Mining	0.009	-10%	-18%	-25%	-78%	-40%	$ 2,514,335.67
GT1	Greentechnology	0.091	3%	42%	-43%	-82%	-68%	$ 32,453,192.92
GW1	Greenwing Resources	0.047	-11%	-8%	-33%	-69%	-65%	$ 10,423,431.63
HAS	Hastings Tech Met	0.28	4%	-2%	-52%	-70%	-60%	$ 49,727,186.85
HAW	Hawthorn Resources	0.061	0%	0%	-14%	-51%	-34%	$ 20,435,952.39
HRE	Heavy Rare Earths	0.032	0%	3%	-29%	-59%	-50%	$ 2,184,804.80
HXG	Hexagon Energy	0.024	-4%	60%	41%	140%	100%	$ 12,309,981.62
ICL	Iceni Gold	0.038	12%	-10%	52%	-54%	-27%	$ 9,546,636.82
IDA	Indiana Resources	0.095	1%	3%	19%	56%	19%	$ 59,630,899.94
IG6	Internationalgraphit	0.07	-13%	3%	-55%	-62%	-56%	$ 12,774,849.78
IGO	IGO Limited	5.065	4%	0%	-31%	-62%	-44%	$ 3,922,647,271.34
ILU	Iluka Resources	5.915	7%	5%	-14%	-29%	-10%	$ 2,509,207,217.88
IMI	Infinitymining	0.014	0%	-13%	-81%	-90%	-90%	$ 1,900,417.85
INF	Infinity Lithium	0.035	0%	-29%	-54%	-61%	-65%	$ 16,190,723.26
INR	Ioneer Ltd	0.1625	12%	35%	-2%	-36%	8%	$ 385,675,340.00
IPT	Impact Minerals	0.012	-8%	-14%	-20%	0%	9%	$ 36,713,204.62
IPX	Iperionx Limited	2.72	2%	28%	32%	71%	96%	$ 683,745,039.18
ITM	Itech Minerals Ltd	0.066	-6%	-1%	-12%	-62%	-40%	$ 11,610,006.38
IXR	Ionic Rare Earths	0.008	33%	14%	-58%	-70%	-69%	$ 38,958,101.18
JLL	Jindalee Lithium Ltd	0.235	-4%	-10%	-69%	-87%	-77%	$ 17,841,425.25
JMS	Jupiter Mines.	0.16	-6%	-24%	-11%	-18%	-3%	$ 313,680,851.04
JRV	Jervois Global Ltd	0.011	-8%	-8%	-62%	-74%	-75%	$ 29,730,401.64
KAI	Kairos Minerals Ltd	0.012	20%	20%	-8%	-48%	-14%	$ 31,570,946.27
KFM	Kingfisher Mining	0.068	8%	13%	-25%	-64%	-55%	$ 3,706,335.07
KGD	Kula Gold Limited	0.009	13%	-10%	0%	-31%	-40%	$ 5,788,907.29
KM1	Kalimetalslimited	0.125	-7%	-19%	-71%	0%	0%	$ 10,371,729.24
KNG	Kingsland Minerals	0.165	3%	-18%	-41%	-39%	-42%	$ 10,139,217.00
KNI	Kunikolimited	0.15	0%	-17%	-46%	-57%	-50%	$ 13,883,082.88
KOB	Kobaresourceslimited	0.105	-5%	-25%	-13%	33%	50%	$ 16,648,969.47
KOR	Korab Resources	0.008	0%	0%	14%	-58%	-50%	$ 2,936,400.00
KTA	Krakatoa Resources	0.012	20%	20%	33%	-40%	-67%	$ 5,193,179.42
KZR	Kalamazoo Resources	0.082	-2%	32%	-14%	-29%	-32%	$ 14,961,067.76
L1M	Lightning Minerals	0.072	9%	-10%	9%	-49%	-49%	$ 6,889,633.13
LCY	Legacy Iron Ore	0.013	0%	-13%	-13%	-13%	-24%	$ 100,276,127.41
LEG	Legend Mining	0.013	0%	18%	-19%	-48%	-7%	$ 37,823,203.41
LEL	Lithenergy	0.31	0%	-10%	-48%	-49%	-46%	$ 34,160,478.55
LIN	Lindian Resources	0.11	0%	-8%	-12%	-56%	-24%	$ 121,056,834.78
LIT	Lithium Australia	0.021	0%	5%	-25%	-42%	-30%	$ 27,336,405.69
LKE	Lake Resources	0.043	19%	30%	-41%	-76%	-67%	$ 68,409,353.95
LLI	Loyal Lithium Ltd	0.13	18%	13%	-55%	-84%	-58%	$ 11,127,967.56
LLL	Leolithiumlimited	0.505	0%	0%	0%	0%	0%	$ 605,458,341.55
LM1	Leeuwin Metals Ltd	0.085	5%	6%	1%	-70%	-39%	$ 3,982,392.04
LMG	Latrobe Magnesium	0.029	-3%	-9%	-41%	-39%	-54%	$ 68,107,583.88
LML	Lincoln Minerals	0.006	50%	0%	9%	0%	0%	$ 10,281,297.60
LNR	Lanthanein Resources	0.003	0%	0%	0%	-67%	-74%	$ 8,552,726.45
LNR	Lanthanein Resources	0.003	0%	0%	0%	-67%	-74%	$ 8,552,726.45
LOT	Lotus Resources Ltd	0.2325	-3%	-7%	-42%	-17%	-18%	$ 440,022,360.48
LPD	Lepidico Ltd	0.0025	25%	25%	-47%	-74%	-67%	$ 17,178,249.77
LPM	Lithium Plus	0.11	18%	5%	-33%	-70%	-69%	$ 14,612,400.00
LRS	Latin Resources Ltd	0.195	22%	3%	-11%	-36%	-32%	$ 532,269,697.97
LRV	Larvottoresources	0.385	-6%	114%	450%	237%	450%	$ 114,698,598.81
LSR	Lodestar Minerals	0.0015	50%	50%	-6%	-69%	-53%	$ 3,372,328.92
LTM	Arcadium Lithium PLC	3.645	10%	-10%	-46%	0%	-67%	$ 1,247,880,623.01
LTR	Liontown Resources	0.665	9%	-16%	-47%	-78%	-60%	$ 1,576,253,172.00
LU7	Lithium Universe Ltd	0.013	8%	-7%	-35%	-76%	-62%	$ 7,720,876.33
LYC	Lynas Rare Earths	6.755	-4%	8%	17%	-9%	-6%	$ 6,300,000,566.90
M24	Mamba Exploration	0.016	14%	78%	-38%	-72%	-68%	$ 2,821,234.14
M2R	Miramar	0.0075	-17%	7%	-47%	-84%	-62%	$ 2,763,456.92
MAN	Mandrake Res Ltd	0.027	13%	-13%	-30%	-29%	-37%	$ 16,652,517.84
MEI	Meteoric Resources	0.096	-1%	-4%	-60%	-56%	-63%	$ 213,082,642.81
MEK	Meeka Metals Limited	0.058	14%	7%	57%	18%	45%	$ 85,619,393.44
MHC	Manhattan Corp Ltd	0.001	0%	0%	-60%	-83%	-70%	$ 4,638,800.01
MHK	Metalhawk.	0.12	33%	21%	67%	20%	-11%	$ 9,060,300.18
MIN	Mineral Resources.	37.735	25%	-18%	-43%	-47%	-46%	$ 7,436,263,975.36
MLS	Metals Australia	0.026	24%	37%	13%	-21%	-30%	$ 18,907,707.62
MLX	Metals X Limited	0.425	6%	12%	18%	39%	47%	$ 385,141,828.48
MNS	Magnis Energy Tech	0.042	0%	0%	0%	-51%	0%	$ 50,378,922.34
MOH	Moho Resources	0.008	33%	78%	33%	0%	-20%	$ 4,313,425.58
MQR	Marquee Resource Ltd	0.017	13%	55%	-15%	-51%	-35%	$ 7,078,534.49
MRC	Mineral Commodities	0.026	0%	0%	8%	-38%	-19%	$ 25,596,287.57
MRD	Mount Ridley Mines	0.001	0%	0%	-50%	-50%	-50%	$ 7,784,882.87
MRR	Minrex Resources Ltd	0.009	0%	13%	-36%	-40%	-47%	$ 9,763,807.53
MTM	MTM Critical Metals	0.066	38%	83%	-11%	61%	-3%	$ 18,553,052.10
NC1	Nicoresourceslimited	0.11	-8%	10%	-35%	-76%	-68%	$ 12,039,563.25
NIC	Nickel Industries	0.8325	10%	1%	10%	2%	20%	$ 3,557,222,200.40
NKL	Nickelxltd	0.026	8%	13%	-24%	-63%	-30%	$ 4,883,194.39
NMT	Neometals Ltd	0.09	27%	25%	-45%	-81%	-57%	$ 62,090,828.46
NTU	Northern Min Ltd	0.021	-13%	-19%	-28%	-32%	-30%	$ 124,130,564.08
NVA	Nova Minerals Ltd	0.18	6%	38%	-35%	-31%	-50%	$ 43,840,238.58
NVX	Novonix Limited	0.55	4%	-10%	-44%	-42%	-25%	$ 266,580,610.38
NWC	New World Resources	0.019	6%	12%	-53%	-41%	-51%	$ 51,125,071.01
NWM	Norwest Minerals	0.019	-5%	-14%	-30%	-42%	-30%	$ 9,217,270.69
OCN	Oceanalithiumlimited	0.035	40%	17%	-43%	-84%	-71%	$ 2,804,932.00
OD6	Od6Metalsltd	0.045	10%	10%	-48%	-72%	-68%	$ 5,791,057.79
ODE	Odessa Minerals Ltd	0.0025	-17%	25%	-50%	-79%	-72%	$ 2,608,206.34
OM1	Omnia Metals Group	0.078	0%	0%	0%	-14%	0%	$ 4,550,567.66
OMH	OM Holdings Limited	0.355	-10%	-10%	-13%	-31%	-20%	$ 272,021,164.36
PAM	Pan Asia Metals	0.067	6%	-36%	-58%	-68%	-46%	$ 12,983,877.67
PAT	Patriot Lithium	0.037	12%	-24%	-51%	-79%	-79%	$ 3,725,296.74
PBL	Parabellumresources	0.056	12%	47%	-10%	-84%	-20%	$ 3,488,800.06
PEK	Peak Rare Earths Ltd	0.21	2%	2%	5%	-52%	-40%	$ 55,950,438.39
PEK	Peak Rare Earths Ltd	0.21	2%	2%	5%	-52%	-40%	$ 55,950,438.39
PFE	Panteraminerals	0.026	0%	4%	-45%	-49%	-50%	$ 9,854,694.49
PGD	Peregrine Gold	0.15	-9%	-29%	-33%	-53%	-38%	$ 10,181,763.15
PGM	Platina Resources	0.02	3%	-5%	-9%	-26%	-5%	$ 14,333,147.61
PLL	Piedmont Lithium Inc	0.11	10%	-8%	-42%	-84%	-74%	$ 42,960,403.50
PLS	Pilbara Min Ltd	2.875	22%	-1%	-26%	-36%	-27%	$ 8,582,048,478.00
PMT	Patriotbatterymetals	0.38	9%	-30%	-62%	-72%	-66%	$ 241,481,400.00
PNN	Power Minerals Ltd	0.1	15%	11%	-46%	-65%	-52%	$ 12,111,554.18
PNT	Panthermetalsltd	0.023	35%	6%	-14%	-55%	-45%	$ 2,004,821.73
POS	Poseidon Nick Ltd	0.0035	0%	-13%	-52%	-80%	-68%	$ 14,636,914.22
PRL	Province Resources	0.041	0%	0%	0%	0%	0%	$ 48,441,218.86
PSC	Prospect Res Ltd	0.1	0%	0%	27%	14%	12%	$ 54,361,568.73
PTR	Petratherm Ltd	0.046	130%	142%	130%	-23%	31%	$ 11,089,672.85
PUR	Pursuit Minerals	0.0025	-17%	-17%	-50%	-75%	-69%	$ 7,270,799.97
PVT	Pivotal Metals Ltd	0.014	27%	8%	-7%	-13%	-44%	$ 9,153,537.71
PVW	PVW Res Ltd	0.021	-5%	0%	-19%	-70%	-56%	$ 2,654,500.34
QEM	QEM Limited	0.13	-4%	0%	-24%	-40%	-28%	$ 19,680,922.56
QPM	Queensland Pacific	0.03	0%	-9%	-30%	-51%	-45%	$ 75,635,365.74
QXR	Qx Resources Limited	0.007	17%	17%	-56%	-71%	-70%	$ 7,770,544.98
RAG	Ragnar Metals Ltd	0.018	0%	-14%	-10%	-14%	-25%	$ 8,531,657.39
RAS	Ragusa Minerals Ltd	0.015	0%	-12%	-48%	-62%	-58%	$ 2,138,981.79
RBX	Resource B	0.034	0%	-15%	-24%	-77%	-55%	$ 2,811,272.49
REC	Rechargemetals	0.025	-7%	-19%	-59%	-90%	-74%	$ 3,492,249.18
REE	Rarex Limited	0.012	0%	0%	-33%	-67%	-57%	$ 9,876,644.38
RGL	Riversgold	0.0045	13%	13%	-44%	-63%	-63%	$ 6,637,312.97
RIL	Redivium Limited	0.004	0%	0%	33%	-56%	-43%	$ 12,360,846.64
RLC	Reedy Lagoon Corp.	0.003	0%	0%	-25%	-40%	-40%	$ 1,858,622.20
RMX	Red Mount Min Ltd	0.001	0%	0%	-54%	-62%	-62%	$ 3,873,577.31
RNU	Renascor Res Ltd	0.09	-5%	2%	6%	-25%	-31%	$ 223,681,011.05
RON	Roninresourcesltd	0.105	-19%	-9%	0%	-25%	-43%	$ 4,050,751.10
RR1	Reach Resources Ltd	0.014	0%	27%	-13%	-78%	-24%	$ 12,242,038.89
RR1	Reach Resources Ltd	0.014	0%	27%	-13%	-78%	-24%	$ 12,242,038.89
RVT	Richmond Vanadium	0.305	3%	2%	2%	-25%	9%	$ 25,862,341.80
RXL	Rox Resources	0.14	4%	0%	-12%	-30%	-24%	$ 57,483,340.18
S2R	S2 Resources	0.086	-3%	-22%	-34%	-49%	-48%	$ 38,945,787.40
S32	South32 Limited	3.185	7%	7%	6%	-5%	-4%	$ 14,629,505,174.64
SBR	Sabre Resources	0.014	17%	8%	-26%	-69%	-58%	$ 5,501,467.06
SCN	Scorpion Minerals	0.02	54%	33%	-26%	-67%	-39%	$ 7,779,667.65
SGQ	St George Min Ltd	0.031	11%	-3%	41%	-23%	-9%	$ 33,744,753.39
SLM	Solismineralsltd	0.094	1%	-10%	-15%	-72%	-35%	$ 7,273,936.11
SLZ	Sultan Resources Ltd	0.006	0%	0%	-57%	-77%	-73%	$ 1,185,518.93
SRI	Sipa Resources Ltd	0.015	0%	0%	-21%	-21%	-40%	$ 3,422,372.03
SRL	Sunrise	0.425	-6%	-6%	-10%	-52%	-7%	$ 37,895,549.16
SRN	Surefire Rescs NL	0.0055	-8%	-8%	-45%	-63%	-35%	$ 10,924,692.97
SRZ	Stellar Resources	0.0165	10%	3%	18%	38%	136%	$ 35,355,193.00
STK	Strickland Metals	0.096	4%	-13%	8%	100%	1%	$ 211,863,815.23
STM	Sunstone Metals Ltd	0.005	0%	-44%	-58%	-74%	-67%	$ 21,629,518.18
SUM	Summitminerals	0.255	6%	4%	298%	89%	158%	$ 22,571,446.70
SYA	Sayona Mining Ltd	0.026	13%	0%	-37%	-76%	-63%	$ 247,039,104.34
SYR	Syrah Resources	0.215	10%	-7%	-61%	-63%	-66%	$ 227,676,188.52
SYR	Syrah Resources	0.215	10%	-7%	-61%	-63%	-66%	$ 227,676,188.52
TAR	Taruga Minerals	0.008	-11%	14%	14%	-11%	-27%	$ 5,648,214.28
TEM	Tempest Minerals	0.01	-9%	0%	16%	5%	31%	$ 6,899,967.68
THR	Thor Energy PLC	0.017	21%	13%	-32%	-62%	-43%	$ 3,914,645.57
TKL	Traka Resources	0.001	-33%	-33%	-50%	-75%	-67%	$ 1,945,658.55
TKM	Trek Metals Ltd	0.033	-11%	-21%	-6%	-40%	-18%	$ 16,944,604.45
TLG	Talga Group Ltd	0.4	-12%	-5%	-56%	-71%	-49%	$ 173,652,597.63
TMB	Tambourahmetals	0.033	0%	-18%	-61%	-84%	-71%	$ 3,140,543.45
TMX	Terrain Minerals	0.004	33%	14%	0%	-20%	-20%	$ 7,064,115.21
TON	Triton Min Ltd	0.011	38%	10%	-27%	-50%	-52%	$ 17,252,276.07
TOR	Torque Met	0.1	-17%	-5%	-33%	-70%	-55%	$ 18,843,892.60
TVN	Tivan Limited	0.048	2%	2%	-19%	-38%	-20%	$ 81,113,315.06
VHM	Vhmlimited	0.565	9%	24%	5%	3%	-20%	$ 91,892,820.32
VMC	Venus Metals Cor Ltd	0.063	0%	-6%	-30%	-37%	-37%	$ 11,952,907.03
VML	Vital Metals Limited	0.0025	25%	0%	-44%	-75%	-62%	$ 11,790,133.90
VR8	Vanadium Resources	0.045	18%	0%	18%	-34%	-17%	$ 25,318,134.18
VRC	Volt Resources Ltd	0.004	0%	0%	-20%	-53%	-38%	$ 16,634,712.51
VTM	Victory Metals Ltd	0.495	30%	34%	80%	148%	136%	$ 42,509,766.00
VUL	Vulcan Energy	3.75	6%	-2%	10%	10%	32%	$ 679,360,741.31
WA1	Wa1Resourcesltd	14.84	-4%	5%	25%	170%	20%	$ 950,283,618.40
WC1	Westcobarmetals	0.028	-7%	-10%	-39%	-65%	-63%	$ 4,270,009.27
WC8	Wildcat Resources	0.215	16%	-25%	-71%	-10%	-69%	$ 263,173,824.07
WCN	White Cliff Min Ltd	0.018	13%	20%	20%	100%	100%	$ 27,699,586.04
WIN	WIN Metals	0.034	3%	55%	-35%	-83%	-62%	$ 11,547,886.21
WKT	Walkabout Resources	0.096	0%	-4%	-13%	-17%	-31%	$ 64,441,099.30
WMG	Western Mines	0.235	7%	-16%	47%	-19%	-10%	$ 19,584,747.71
WML	Woomera Mining Ltd	0.002	-20%	-33%	-50%	-85%	-93%	$ 3,036,278.00
WR1	Winsome Resources	0.51	16%	-10%	-43%	-67%	-51%	$ 112,493,780.36
WSR	Westar Resources	0.0085	21%	6%	-25%	-65%	-53%	$ 3,389,160.91
YAR	Yari Minerals Ltd	0.003	0%	-25%	-50%	-84%	-74%	$ 1,447,073.44
ZNC	Zenith Minerals Ltd	0.043	13%	-10%	-57%	-54%	-71%	$ 15,152,377.97

Petratherm (ASX:PTR)

Up 142% for the month, Petratherm is the big critical minerals winner for the second week in a row according to High Voltage’s assessment, though these figures were clipped up before an 8% drop yesterday.

That came about after the company used the recent run in its shares to raise $1.6m in a share placement, with another $1m sought from existing shareholders in a share purchase plan.

Cashed-up, the explorer is seeking to start drilling operations in early October, having sampled high grade titanium rich heavy mineral sands over several kilometres at its Muckanippie project in South Australia.

“The Australian Government along with the United States, the European Union, India, Japan, South Korea and the United Kingdom designated Titanium as a critical mineral for essential modern technologies, economies and national security,” PTR said last week after releasing the results of sampling to the market.

“Titanium has uses in electric vehicles and battery storage, wind technology, pigments, and as an alloy in steel and superalloys..

The global market is expected to grow from US$28.6bn in 2022 to US$52bn by 2030.

Chalice Mining (ASX:CHN)

Chalice is back over a $500 million valuation after a major run in recent days capped by a 14.5% gain yesterday.

Torched from mid-2023 as both nickel and platinum group metals prices came off and investors rebuked a poorly received scoping study on its Julimar nickel-copper-PGE project near Perth, Chalice has returned to the good books thanks to some upwards moves in palladium pricing.

Up at around US$1100/oz, plans from Sibanye to scale back production at its lossmaking US mines and suggestions Russia could put export restrictions on the precious metal have seen prices lift ~20% in around a week.

Chalice’s Gonneville deposit at Julimar was also awarded Strategic Project status by the WA Government on Tuesday, which will smooth its approvals pathway.

The mine, which has Mitsubishi on board as a strategic partner by way of a non-binding MoU, would become operational sometime around 2029 should metallurgical, permitting and financing questions be answered.

MTM Critical Metals (ASX:MTM)

MTM announced further advancements in its flash joule heating processing technology yesterday, saying it achieved >90% lithium conversion in its spodumene calcination process testing.

The company thinks it can potentially revolutionise lithium processing flowsheets by improving the energy efficiency of the calcination process, the most energy intensive stage of lithium refining, accounting for over 50% of life cycle emissions.

“Achieving a commercial yield of over 90% for the calcination of spodumene is a significant breakthrough for the FJH process revolutionising how lithium is extracted in the future,” MTM CEO Michael Walshe said.

“The search for more sustainable, lower-energy calcination alternatives has long been a priority for the lithium industry, given the sheer energy and CO₂ intensity of traditional methods. While further testing is required, these results give us increased confidence in the FJH process.

“MTM continues to engage in commercial discussions with several leading industrial firms, and we look forward to providing further updates soon.”