• Prices for rare earths neodymium and praseodymium have exploded to record highs
  • Chinese rare earth company swoops on Aussie junior Peak Rare Earths (ASX:PEK)
  • Desperate battery makers continue buying lithium at any price

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

 

Rare earth magnets are at the heart of EV motor technology. They aren’t actually that rare, but they are hard to find in commercial qualities, and even harder to process and separate.

Prices for rare earths neodymium and praseodymium, the most valuable of the ~15 elements, have exploded to record highs in recent weeks.

“At the time of this writing, a kilogram of the blend costs $US163 – up more than fourfold from the ten-year bottom price of $US35,” writes the anonymous but intelligent person/ team at Doomberg.

Pic: Doomberg.

It should come as no surprise that China dominates the rare earths supply chain.

It controls 80% of the whole thing – from mining through to processing and separation (which is very complex). There is no second place when it comes to rare earths, only first loser.

Despite moves by Western nations (Europe, the US) to set up mining and processing operations in-house, China will not give up its hard-won advantage without a fight.

 

This week, leading Chinese rare earth company Shenghe Resources (market cap: $US4.9 billion) swooped on Aussie junior Peak Rare Earths (ASX:PEK).

It acquired a 19.9% interest from a third party at A$0.99 per share: a 24.5% premium to the last closing price of Peak shares.

Shenghe also holds ~8% of, and offtake deals with, MP Materials Corp (NYSE:MP) – the United States’ only rare earths producer — and 9% in Greenland Minerals (ASX:GGG).

Peak’s main game is the ‘Ngualla’ rare earths project in Tanzania.The explorer is currently negotiating an Economic Framework Agreement for the project with the government.

“The project … [is] among the most advanced rare earth development projects that has a JORC Compliant Ore Reserve, completed definitive feasibility study, and fully piloted process from ore to separated oxides that is permitted and ready to construct,” the company said last year.

Construction of the downstream ‘Teeside’ refinery in the UK will occur in parallel with ‘Ngualla’ development.

 

Desperate battery makers buying lithium at any price

Lithium prices keep rising. It’s getting boring, right?

Fastmarkets’ price assessment for battery grade lithium carbonate in China was 400,000-430,000 yuan ($US62,833-67,545) per tonne on Thursday February 10 — up by ~14% from a week earlier.

“Amid the scarcity of spot lithium units, we received a lot of inquiries for battery-grade lithium carbonate in the first week after Chinese New Year, and many customers have urgent needs. But we are sold out,” a Chinese lithium producer source told Fastmarkets.

Prices were on the rise as well outside China as well.

In battery grade carbonate was selling for $US50.00-52.50 per kg on the spot market on February 10 — up by 32% from the previous month.

“Small traders have no stock available and are ready to buy at any price,” one European lithium producer told Fastmarkets.

“Battery producers are grabbing all available stock and pushing all prices up, including technical grade,” another producer said.

In these market conditions, some European producers said they were revising long-term contracts and increasing the prices, if their contracts made this possible.

“If we did not have such clauses, it would be easier to withdraw from a contract, pay a fine for that, and offer our stock to the spot market to get profit,” he said.

“People are accepting a jump from $40 per kg into the $50s per kg more easily than [they would have accepted] an increase from $20 to $25 per kg [previously].”

 

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