• In 2021, EV sales more than doubled to 6.6 million, ~9% of the global car market
  • In 2022, global sales are projected to surpass 10.5 million: BNEF
  • More EVs were sold in China in 2021 than were sold in the entire world in 2020

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

 

In the whole of 2012, about 130,000 electric cars were sold globally. Today, that many are sold in the space of a single week, according to commentary from the IEA.

Growth has been particularly impressive over the last three years, it says.

“In 2019, 2.2 million electric cars were sold, representing just 2.5% of global car sales,” it says.

“In 2020, the overall car market contracted but electric car sales bucked the trend, rising to 3 million and representing 4.1% of total car sales.

“In 2021, electric car sales more than doubled to 6.6 million, representing close to 9% of the global car market and more than tripling their market share from two years earlier.”

All the net growth in global car sales in 2021 came from electric cars.

In 2022, global sales of electric passenger vehicles are projected to surpass 10.5 million — another 4 million above 2021 levels — BloombergNEF said in a recent report.

China: still the EV powerhouse

World #2 economy China is still leading global growth in EV sales, which nearly tripled to 3.4 million in 2021.

In other words, more electric cars were sold in China in 2021 than were sold in the entire world in 2020.

“Electric cars’ share of the overall market on a monthly basis leaped from 7.2% in January to around 20% in December,” IEA says.

“The Chinese government’s official target is for electric cars to reach a market share of 20% for the full year in 2025, and their performance in 2021 suggests they are well on track to do so.”

Despite cutting subsidies on January 1, sales at two of China’s largest EV makers continued to race ahead in 2022.

 

What about high raw materials costs?

If battery metal prices continue to rise, prices for batteries – the most expensive part of an EV — will continue to be impacted, IEA says.

“In 2021, the price of steel rose by as much as 100%, aluminium around 70%, and copper more than 33%, affecting both conventional and electric cars,” it says.

“For electric cars, additional challenges were posed by increased prices for materials needed to manufacture batteries: the price of lithium carbonate increased by 150% year on year, graphite by 15%, and nickel by 25%, to name just a few.”

While some of the supply constraints of 2021 will ease as the market rebalances, others may linger, the IEA says.

“The world faces potential shortages of lithium and cobalt as early as 2025 unless sufficient investments are made to expand production,” it says.

“Further growth of EVs requires not only an expansion of the extraction of key minerals – but also of the entire EV value chain.

“This spans battery metal processing and refining, cathode and anode manufacturing, separator manufacturing, cell production, battery assembly and, finally, the assembly of electric vehicles.

“Each of these industries, some of which are nascent, need to expand rapidly to avoid bottlenecks that would slow down the transition to full electric mobility.”

 

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 are performing>>>

Battery metals stocks missing from our list? Shoot a friendly mail to [email protected]

CODE COMPANY 1 WEEK RETURN 1 MONTH RETURN 6 MONTH RETURN 1 YEAR RETURN PRICE MARKET CAP
SHH Shree Minerals 118% 167% 85% 41% 0.024 $25,517,685.41
RNU Renascor Resources 60% 91% 264% 805% 0.335 $568,161,295.50
MLS Metals Australia 50% 50% 50% 50% 0.003 $13,096,393.40
CNB Carnaby Resources 41% 43% 517% 645% 1.975 $285,635,153.47
LRV Larvotto Resources 36% 33% 0% 0% 0.265 $8,782,500.00
WCN White Cliff Minerals 32% 32% 154% 57% 0.033 $15,423,106.37
AS2 Askari Metals 27% 98% 123% 0% 0.445 $17,158,511.25
CAE Cannindah Resources 27% 61% 408% 1030% 0.305 $167,812,848.32
ADV Ardiden 27% 58% 73% -21% 0.019 $36,861,701.05
MLX Metals X 24% 20% 143% 265% 0.62 $508,068,997.52
MRR Minrex Resources 23% 15% 322% 204% 0.076 $59,533,537.35
LSR Lodestar Minerals 22% 16% 22% 0% 0.011 $13,909,373.48
SRI Sipa Resources 21% 6% -15% -20% 0.051 $10,456,264.95
GSR Greenstone Resources 21% 43% 111% 67% 0.04 $30,668,990.18
JRL Jindalee Resources 20% 25% 1% 62% 3.15 $173,132,691.20
PVW PVW Resources 19% 22% 279% 330% 0.645 $47,104,875.00
HAS Hastings Tech Metals 18% 7% 41% 29% 0.29 $504,156,884.35
LEL Lithium Energy 18% 21% 81% 0% 1.175 $48,375,000.00
VMC Venus Metals 16% 26% 23% -9% 0.215 $32,481,916.85
NC1 Nico Resources 16% 0% 0% 0% 0.55 $43,625,001.00
KGD Kula Gold 15% 4% -4% 21% 0.047 $10,328,430.34
BNR Bulletin Resources 14% 50% 94% 58% 0.12 $29,143,545.59
AOU Auroch Minerals 14% 9% -32% -52% 0.125 $43,326,215.88
BUX Buxton Resources 13% 23% -19% 20% 0.085 $10,340,212.83
LRS Latin Resources 13% 6% -15% -36% 0.034 $42,992,287.89
AVZ AVZ Minerals 13% -8% 260% 328% 0.7925 $2,623,567,940.80
QXR Qx Resources 13% 33% 238% 144% 0.044 $29,847,942.12
CHR Charger Metals 13% 69% 88% 0% 0.81 $25,784,983.18
RBX Resource Base 13% 20% 36% 562% 0.225 $9,187,944.55
TEM Tempest Minerals 13% 8% 52% -1% 0.027 $9,549,621.55
FRB Firebird Metals 12% -6% -23% 0% 0.385 $17,418,293.76
NVA Nova Minerals 11% -22% -19% -43% 0.89 $153,171,942.25
AZL Arizona Lithium 11% 48% 356% 269% 0.155 $309,622,800.53
EFE Eastern Resources 11% 2% 288% 564% 0.062 $57,084,143.69
AZL Arizona Lithium 11% 48% 356% 269% 0.155 $309,622,800.53
SRL Sunrise 11% 4% -10% -28% 1.92 $176,963,732.24
GMC Gulf Manganese Corp 10% 10% 10% 10% 0.0055 $29,718,965.83
AAJ Aruma Resources 10% 8% 53% 0% 0.09 $10,832,689.26
CWX Carawine Resources 10% -3% -23% -21% 0.17 $22,742,667.26
MQR Marquee Resource 10% -2% 146% 123% 0.1425 $27,880,463.26
S32 South32 Limited 10% 8% 42% 59% 4.22 $19,297,212,624.95
REE Rarex Limited 10% 16% 15% -8% 0.115 $50,804,235.45
LMG Latrobe Magnesium 10% 15% 576% 342% 0.115 $164,618,264.16
ARN Aldoro Resources 9% 8% -15% 56% 0.405 $34,433,856.77
GED Golden Deeps 9% 9% 0% -8% 0.012 $9,310,217.28
CTM Centaurus Metals 9% 13% 28% 42% 1.215 $513,880,347.42
BRB Breaker Resources 9% -13% 53% 20% 0.245 $76,572,618.32
ALY Alchemy Resources 8% 0% -11% -26% 0.013 $12,380,483.57
AZS Azure Minerals 8% 19% 69% -16% 0.415 $125,847,967.01
VR8 Vanadium Resources 8% 9% 66% 113% 0.083 $36,902,765.17
NMT Neometals 8% -3% 107% 338% 1.415 $770,468,836.38
GBR Greatbould Resources 7% 11% 55% 265% 0.15 $51,799,192.31
TKL Traka Resources 7% 15% 7% -29% 0.015 $9,331,618.41
CMO Cosmometalslimited 7% 0% 0% 0% 0.225 $5,739,750.00
BKT Black Rock Mining 7% -2% 48% 59% 0.23 $199,788,478.80
AUZ Australian Mines 7% 7% -4% -21% 0.1925 $81,767,962.43
FRS Forrestaniaresources 7% 11% 0% 0% 0.39 $10,659,000.00
KOR Korab Resources 6% -4% 150% 285% 0.05 $17,985,450.00
CZN Corazon 6% -11% -17% -43% 0.034 $10,380,797.28
SYA Sayona Mining 6% -6% 22% 221% 0.1275 $886,907,635.25
TMB Tambourahmetals 6% 0% 0% 0% 0.255 $10,298,149.50
E25 Element 25 6% -18% -29% -21% 1.32 $196,232,824.17
BHP BHP Group Limited 6% 12% -6% 12% 49.07 $239,903,495,974.10
ILU Iluka Resources 6% 5% 15% 68% 10.93 $4,600,209,457.54
FGR First Graphene 6% -7% -10% -32% 0.19 $99,057,777.48
MMC Mitremining 6% -3% 0% 0% 0.19 $5,146,169.00
S2R S2 Resources 6% -5% 19% 3% 0.19 $65,929,348.18
VRC Volt Resources 5% -31% -20% 25% 0.02 $50,849,265.95
EMN Euromanganese 5% -8% -29% -26% 0.505 $131,154,525.87
BSX Blackstone 5% 10% 56% 21% 0.615 $280,998,478.13
ARU Arafura Resource 5% -2% 58% -7% 0.205 $310,083,466.40
HYM Hyperion Metals 5% 1% -5% 93% 0.945 $129,724,296.63
MCR Mincor Resources NL 5% -7% 35% 59% 1.705 $823,390,512.00
ARL Ardea Resources 5% 48% 39% 65% 0.675 $95,792,851.11
BOA Boadicea Resources 5% -6% 2% -13% 0.225 $16,705,477.43
MIN Mineral Resources. 5% -2% -2% 66% 57.98 $11,140,273,946.89
CXO Core Lithium 5% 26% 119% 151% 0.79 $1,321,576,814.22
AXE Archer Materials 5% 2% -26% 35% 1.13 $280,988,779.95
OZL OZ Minerals 5% -13% 13% 35% 25.28 $8,348,047,424.46
BMM Balkanminingandmin 4% -20% -39% 0% 0.37 $12,772,500.00
MNS Magnis Energy Tech 4% -3% 23% 55% 0.51 $497,365,762.43
PLL Piedmont Lithium Inc 4% -8% -15% 2% 0.67 $378,077,941.00
AGY Argosy Minerals 4% 1% 140% 117% 0.3475 $450,834,721.05
NKL Nickelx 4% 21% -24% 0% 0.145 $8,025,750.00
IGO IGO Limited 3% 3% 25% 91% 12.16 $9,094,786,434.13
STK Strickland Metals 3% -13% 48% 113% 0.062 $80,625,688.48
FG1 Flynngold 3% 0% 0% 0% 0.16 $10,249,768.00
SGQ St George Min 3% -3% 0% -32% 0.068 $39,475,792.78
LYC Lynas Rare Earths 3% -17% 22% 88% 9.215 $8,266,089,834.64
QPM Queensland Pacific 3% -5% -10% 169% 0.175 $270,044,797.93
OMH OM Holdings Limited 3% -2% 20% 25% 0.91 $672,147,236.67
PLS Pilbara Min 3% -6% 57% 234% 3.29 $9,972,268,331.95
AVL Aust Vanadium 3% 21% 71% 64% 0.041 $131,765,196.12
NIC Nickel Mines Limited 2% 3% 34% 17% 1.4625 $3,684,517,559.72
JMS Jupiter Mines. 2% 5% -26% -23% 0.225 $450,567,937.59
LPI Lithium Pwr Int 2% 26% 114% 140% 0.695 $235,419,647.40
EUR European Lithium 2% -13% 73% 75% 0.1175 $136,359,785.88
LIT Lithium Australia NL 2% 2% -13% -22% 0.1175 $123,908,471.52
LTR Liontown Resources 2% -6% 75% 309% 1.45 $3,145,843,159.13
LOT Lotus Resources 2% -21% 47% 79% 0.25 $234,239,746.80
MAN Mandrake Res 2% -2% -39% -40% 0.05 $23,089,827.36
PAN Panoramic Resources 2% -11% 47% 56% 0.25 $512,728,501.00
POS Poseidon Nick 2% -5% -9% 33% 0.1 $306,395,952.60
FFX Firefinch 2% -23% 52% 235% 0.6525 $748,116,487.00
ASN Anson Resources 2% -2% 49% 51% 0.1375 $137,888,902.80
BYH Bryah Resources 2% 16% 8% -10% 0.057 $12,667,601.80
GME GME Resources 2% 20% 26% -14% 0.067 $36,827,427.24
NWC New World Resources 1% -12% -8% 39% 0.068 $110,031,044.72
AKE Allkem Limited 1% -16% 8% 89% 9.15 $5,795,107,576.74
RXL Rox Resources 1% 25% 1% -21% 0.425 $65,960,493.01
VML Vital Metals Limited 1% -8% -15% 13% 0.0495 $208,274,154.20
IXR Ionic Rare Earths 1% 13% 109% 63% 0.0585 $201,243,071.33
TLG Talga Group 1% -11% 9% 1% 1.47 $457,056,778.50
CHN Chalice Mining 1% -6% 17% 99% 7.76 $2,818,886,383.56
VIA Viagold Rare Earth 0% 0% 2339% 4662% 2 $166,624,808.00
A8G Australasian Metals 0% -8% 269% 0% 0.535 $21,491,214.29
LPD Lepidico 0% -8% 61% 32% 0.037 $230,772,967.99
DEV Devex Resources 0% -7% 70% 89% 0.425 $135,099,106.67
QEM QEM Limited 0% -10% 6% 84% 0.18 $20,416,199.94
ESR Estrella Res 0% 43% -15% -58% 0.033 $37,665,399.68
SBR Sabre Resources 0% 0% 25% -29% 0.005 $10,174,068.25
PGM Platina Resources 0% -19% -43% -6% 0.05 $21,719,117.10
BEM Blackearth Minerals 0% -17% -4% 40% 0.125 $32,441,546.64
SYR Syrah Resources 0% -9% 8% 48% 1.65 $822,912,292.95
EGR Ecograf Limited 0% -13% -35% -12% 0.615 $274,703,409.99
GAL Galileo Mining 0% -10% -44% -49% 0.19 $31,997,748.95
RMX Red Mount Min 0% 10% 22% -31% 0.011 $16,423,638.58
AQD Ausquest Limited 0% -10% -10% -10% 0.018 $14,834,686.01
LML Lincoln Minerals 0% 0% 0% 0% 0.008 $4,599,869.49
TON Triton Min 0% 0% 0% -43% 0.033 $39,769,093.66
EVR Ev Resources 0% 7% 110% 86% 0.065 $58,100,746.47
EMS Eastern Metals 0% 20% 0% 0% 0.24 $8,188,000.00
RAG Ragnar Metals 0% 5% -22% -32% 0.039 $14,907,395.56
GRE Greentechmetals 0% 2% 0% 0% 0.3 $8,272,499.70
PEK Peak Rare Earths -1% -12% -19% -32% 0.745 $147,422,208.00
ATM Aneka Tambang -1% -1% 9% 9% 1.09 $1,420,977.41
PSC Prospect Resources -1% -4% 130% 372% 0.85 $372,815,475.45
LEG Legend Mining -1% 13% -25% -39% 0.07 $184,594,093.31
GLN Galan Lithium -2% -15% 15% 194% 1.5 $442,320,430.01
AR3 Austrare -2% -5% 17% 0% 0.875 $65,954,769.98
COB Cobalt Blue -2% 19% 104% 78% 0.57 $174,592,088.13
VUL Vulcan Energy -2% -9% -32% 0% 9.02 $1,185,784,457.98
PRL Province Resources -2% -9% -9% 563% 0.1325 $146,855,775.43
NTU Northern Minerals -2% -6% 25% 2% 0.05 $242,825,814.95
GSM Golden State Mining -2% 9% -36% -36% 0.093 $7,394,830.67
GW1 Greenwing Resources -2% -2% 81% 42% 0.425 $46,584,244.59
GL1 Global Lithium -2% 17% 403% 0% 1.485 $204,180,861.00
JRV Jervois Global -2% 5% 34% 37% 0.625 $948,941,163.75
RLC Reedy Lagoon -3% -11% 78% 78% 0.032 $17,531,431.36
IMI Infinity Mining -3% -18% 0% 0% 0.16 $9,200,000.00
LKE Lake Resources -3% -10% 35% 197% 0.89 $1,075,624,098.56
CLA Celsius Resources -3% 12% 4% -46% 0.029 $29,511,386.27
TNG TNG Limited -3% -13% -1% -29% 0.0715 $99,966,111.98
G88 Golden Mile Resources -4% 17% 0% 20% 0.055 $9,342,989.71
WKT Walkabout Resources -4% 4% 13% 73% 0.26 $119,852,904.68
PUR Pursuit Minerals -4% -12% -62% -28% 0.023 $21,747,631.46
PNN PepinNini Minerals -4% -7% 21% -9% 0.455 $27,548,241.30
AM7 Arcadia Minerals -4% -4% 32% 0% 0.225 $7,873,312.50
KZR Kalamazoo Resources -4% -10% -14% -39% 0.325 $47,188,171.55
INF Infinity Lithium -5% -7% 58% -28% 0.1575 $64,183,865.68
PAM Pan Asia Metals -5% 18% 253% 216% 0.6 $43,458,599.96
CRR Critical Resources -5% 89% 285% 257% 0.1 $132,795,411.40
AX8 Accelerate Resources -5% 11% -9% -20% 0.039 $9,377,979.26
MOH Moho Resources -5% -7% -19% -32% 0.054 $6,540,320.90
DTM Dart Mining -5% -8% -25% -52% 0.079 $9,585,801.61
WR1 Winsome Resources -6% 15% 0% 0% 0.42 $58,490,097.39
SLZ Sultan Resources -6% -6% -11% -20% 0.16 $13,325,502.24
ESS Essential Metals -6% 129% 176% 224% 0.47 $114,253,365.96
AML Aeon Metals -6% 24% -21% -60% 0.046 $40,693,017.74
MRC Mineral Commodities -7% 17% -10% -65% 0.135 $74,898,688.76
TMT Technology Metals -7% 10% -4% -3% 0.33 $67,208,258.70
IPT Impact Minerals -7% -7% -4% -35% 0.013 $26,309,333.95
INR Ioneer -8% -20% 30% 51% 0.61 $1,291,845,491.37
CMX Chemx Materials -9% 0% 0% 0% 0.215 $10,194,965.22
EMH European Metals Hldg -9% 1% -13% 16% 1.39 $196,527,751.00
RFR Rafaella Resources -10% -3% -29% -29% 0.07 $13,542,711.68
ARR American Rare Earths -11% 109% 248% 269% 0.365 $147,403,434.38
MRD Mount Ridley Mines -11% 14% 100% 167% 0.008 $48,717,290.19
WML Woomera Mining -11% 15% -18% -32% 0.0195 $13,636,661.32
TSC Twenty Seven Co. -13% -13% -13% -42% 0.0035 $9,312,848.67
1MC Morella Corporation -13% 59% -57% -57% 0.027 $139,757,777.62
HXG Hexagon Energy -15% -25% -20% -51% 0.056 $24,530,760.49
ADD Adavale Resources -17% -20% -42% -35% 0.04 $14,789,535.73
HNR Hannans -29% -1% 485% 412% 0.0405 $104,250,859.04
CNJ Conico -58% -59% -78% -59% 0.015 $15,003,223.11

 

Weekly ASX Standouts

SHREE MINERALS (ASX:SHH) +118%

In October, SHH identified lithium potential at the ‘Dundas’ project which is interpreted to be along strike from Liontown’s (ASX:LTR) 14.8Mt ‘Anna’ resource, about 25km away.

The WA project was historically targeted for gold, which meant drilling was not assayed for lithium.

Technical studies have now confirmed the presence of both gold and numerous coarse-grained pegmatite (lithium host rock) intersections from past exploration work.

Drilling is planned, initially around and along strike of historical drillholes with recorded pegmatite intervals, following completion of statutory surveys.

 

RENASCOR RESOURCES (ASX:RNU) +60%

2021 punter favourite RNU has been conditionally approved for a $185m government loan to build its Siviour graphite project in South Australia.

The loan — to be provided under the Commonwealth of Australia’s $2 billion Critical Minerals Facility – should cover a huge of chunk of stage 1 start-up capital requirements of ~$200m.

A Final Investment Decision (FID) on the project is planned for later this year, RNU says.

Siviour could be among the world’s lowest cost producers of an important graphite product for EVs called purified spherical graphite (PSG).

Market data suggests an average operating cost of ~US$2,000/t for the existing PSG market, which is 100% based in China.

RNU’s gross operating cost of US$1,989/t PSG “is favourable by comparison”, it says.

Pricing agency Fastmarkets says PSG prices were up 40% over the 12 months to November 2021 to between US$3,100 and US$3,300 per tonne. Nice margin.