MINEX Forum

Tag: lithium

  • A 150-Year-Old Lithium Discovery in Cornwall Could Revolutionize the Energy Industry

    A 150-Year-Old Lithium Discovery in Cornwall Could Revolutionize the Energy Industry

    A groundbreaking discovery made 150 years ago in Cornwall, UK, is making headlines again. Back in the 19th century, a large amount of dissolved lithium was found in a hot spring approximately 450 meters underground. At the time, this mineral had little to no value, and its potential was largely ignored. However, in today’s world, where lithium is more valuable than petrol, this discovery is proving to be a game-changer.

    The geothermal lithium deposit found in Cornwall is now recognized as one of the largest in the world. The underground hot springs contain an astonishing concentration of lithium, ranging from 8 to 10 times higher than that found in other hot springs currently being exploited. This mineral has become crucial in the energy transition, as it is a key component in the manufacturing of batteries for electric cars, mobile phones, and computers.

    Interest in this geothermal lithium deposit resurfaced in autumn 2020 due to its significance in the modern energy landscape. Unlike conventional lithium, which is extracted from brine deposits in dry lake beds or hard rock mines, geothermal lithium is found in a hot, saline brine that passes through heated rocks, absorbing various elements including potassium, boron, and lithium.

    Mining companies such as Cornish Lithium and Geothermal Engineering are at the forefront of exploring and exploiting this valuable resource. They plan to use cutting-edge techniques like Direct Lithium Extraction (DLE), a method developed by companies in Germany, the United States, and New Zealand. This process uses ion exchange resin or nanofiltration techniques to selectively extract lithium chloride from the brine, which is then treated to produce lithium hydroxide, a key material for battery production.

    This method of lithium extraction is not only more sustainable and environmentally friendly but also has a significantly lower carbon footprint compared to traditional methods. While conventional lithium extraction, primarily from Argentina, Chile, and Australia, remains cheaper, it comes with substantial environmental costs. For every tonne of lithium produced using conventional methods, more than 15 tonnes of greenhouse gases are emitted, vast amounts of water are permanently polluted, and large tracts of land are disturbed.

    In conclusion, the once-overlooked lithium deposit in Cornwall is now recognized as a mineral resource far more valuable than oil. Its extraction using sustainable methods could play a pivotal role in the global shift towards cleaner energy.

  • Serbia’s Energy Minister: Rio Tinto May Need Two Years to Start Jadar Lithium Project

    Serbia’s Energy Minister: Rio Tinto May Need Two Years to Start Jadar Lithium Project

    Serbia’s Energy Minister Dubravka Djedovic Handanovic announced on Friday that it could take Rio Tinto up to two years to obtain the necessary permits to begin construction on its Jadar lithium project. The project, which could become Europe’s largest lithium mine, recently had its license reinstated after being halted two years ago due to environmental protests.

    Handanovic emphasized the importance of securing approvals based on the project’s environmental impact study. She highlighted that the Jadar project is one of the largest certified reserves globally, with 158 million tonnes of lithium, accounting for 17% of Europe’s total reserves. The project, if completed, would produce 58,000 tonnes of battery-grade lithium carbonate annually, enough to power one million electric vehicles and meet 90% of Europe’s current lithium needs. This would position Rio Tinto among the top 10 global lithium producers.

    Serbia’s President Aleksandar Vučić recently stated that lithium mining in the country would not proceed without guarantees from leading global experts. He stressed that no excavation would occur until all guarantees are secured, predicting no action in the next 12 to 18 months. Meanwhile, Serbia signed agreements with the European Union and Germany granting exclusive access to Serbian lithium for EU members and major car manufacturers, following a court ruling that declared the previous revocation of the Jadar project’s license unconstitutional.

    Despite these developments, public opposition remains strong. Thousands protested last week against the Jadar project, with another major protest planned in Belgrade on Saturday. Handanovic questioned the motives behind the protests, suggesting they were more about opposing the government than genuine ecological concerns. She also noted that the project would enable Serbia to leverage its significant mineral resources, including copper, zinc, lead, gold, and lithium, by gaining access to advanced technical expertise.

  • Portugal Finalizes Strategic Plan for Green Transition Raw Materials

    Portugal Finalizes Strategic Plan for Green Transition Raw Materials

    Portugal’s government is finalizing a strategic plan to explore raw materials critical to the green transition, with a particular focus on copper, which may take precedence over lithium. On Monday, Environment and Energy Minister Maria da Graca Carvalho highlighted Portugal’s wealth of critical raw materials, including copper, essential for electric cars.

    Portugal boasts the largest copper mine in the European Union, operated by Toronto-based Lundin Mining. The country also produces lithium for the ceramics industry and is developing large deposits of battery-grade lithium. “We have great potential to explore for copper, we already have a great tradition and we will continue to invest,” Carvalho stated during a conference.

    “When looking at critical raw materials, we have to consider lithium, but it is not the only one, nor perhaps the most important,” she added. The strategic plan is set to be presented on July 22. Carvalho noted, “Based on this strategy, we will define the areas of production for the various critical raw materials,” suggesting potential new concessions.

    Europe aims to enhance security and reduce dependence on imports from countries like China for materials crucial to the green transition. The previous Portuguese government had planned to auction licenses for lithium prospecting in six regions in the north and center of the country. However, concerns from nature preservation groups and local communities about the environmental and social impact of lithium mining have caused multiple delays since the auction’s initial plan in 2018.

    When asked about the new government’s stance on the lithium auction, Carvalho emphasized the need to review the final strategic plan and make decisions based on scientific and technical data.

  • Comparing Norway’s Oil Wealth to Serbia’s Lithium Potential

    Comparing Norway’s Oil Wealth to Serbia’s Lithium Potential

    n a recent discussion, Ana Brnabić, President of the Serbian Parliament, likened Serbia’s lithium reserves to Norway’s oil wealth, emphasizing the transformative economic potential. President Aleksandar Vučić and Mining Minister Dubravka Đedović Handanović have also supported this view, particularly focusing on the Jadar lithium project by Rio Tinto. This project, which could significantly boost Serbia’s economy, faces strong opposition from environmental groups. Critics argue that Serbia lacks the robust political and regulatory framework that enabled Norway’s successful oil industry.

    Norway discovered oil in the 1960s, leading to substantial GDP growth and the creation of a significant welfare state funded by oil revenues. Serbia aims to replicate this model through lithium mining, essential for the booming electric vehicle (EV) market. Rio Tinto projects that the Jadar mine could generate 180 million euros in annual state revenue. However, the environmental impact and public resistance present major challenges. Serbia’s political landscape and regulatory systems are not as well-established as Norway’s, complicating efforts to harness lithium’s potential sustainably.

    The Jadar project involves extracting lithium from jadarite, a unique mineral found only in Serbia. The project has the potential to make Serbia a key player in the global lithium market, essential for EV batteries. However, effective management of environmental concerns and community relations is crucial for the project’s success.

  • Germany Eyes Australian Lithium to Reduce Dependency on Chinese Imports

    Germany Eyes Australian Lithium to Reduce Dependency on Chinese Imports

    Germany is poised to emerge as a significant buyer of Australian lithium in efforts to reduce its reliance on Chinese imports. During a recent visit to Australia, German Foreign Minister Annalena Baerbock emphasized the need to diversify the nation’s lithium supply chain, particularly in light of past political tensions stemming from reliance on Russian fuel during the Ukraine conflict. Baerbock highlighted the current circuitous route of lithium, originating in Australia, then exported to China for processing before being re-imported, advocating for direct importation from Australia to strengthen ties between democracies and free markets. Australian Federal Resources Minister Madeleine King echoed similar sentiments, advocating for Australia’s dominance in the international critical minerals sector and urging European markets to prioritize ethical and sustainable sources for critical minerals. The Federal Government’s ‘Resources and Energy Quarterly’ (REQ) for March 2024 projected a substantial increase in Australia’s lithium mine production by 2029, driven primarily by the growing demand for electric vehicles (EVs). With Europe leading the EV market expansion, Germany’s initiative to diversify its supply chain with Australian lithium sets a precedent for other international markets, paving the way for a promising future for the commodity.

  • Kazakhstan’s President Emphasizes Potential of Rare Earth Minerals Mining

    Kazakhstan’s President Emphasizes Potential of Rare Earth Minerals Mining

    President Kassym-Jomart Tokayev of Kazakhstan views the extraction of critical raw materials as a promising area for cooperation, as reported by the state leader’s press service.

    “Rare earth metals have become a crucial component for a wide range of technologies. They are essential for achieving net-zero emissions and are vital in strategic sectors such as industry, digital technologies, space, and defense. We continue to work with international partners on the most effective ways to develop our large deposits of uranium, lithium, titanium, and other rare earth elements,” quoted the press service Tokayev’s remarks on Thursday at the plenary session of the Boao Asian Forum (BAF).

    Earlier, it was reported that exploration work on the potential of lithium was planned to commence in three regions of Kazakhstan. In particular, during the partnership forum between the European Union and Kazakhstan in Belgium, Erlan Galiev, Chairman of the Board of JSC “National Geological Survey,” stated that “as part of state geological exploration, work is planned to begin on studying the potential of lithium in three regions of Kazakhstan.”

    “If indigenous lithium deposits are projected in the eastern and southeastern parts, then the mineralized brines of the Aral sedimentary basin, according to preliminary data, are very favorable for lithium. Its geological conditions are similar to the Salar de Atacama salt flat in Chile, which holds about 30% of the world’s lithium reserves,” Galiev said.

    According to the Chairman of the Board, as of 2023, six deposits where lithium may be present are listed on the state balance sheet in Kazakhstan: Jubilee, Verkhne-Baimurzinskoye, Bakenoye, Akhmetkino, Medvedka, and Akhmirovskoye.

    “Significant lithium and REM (rare earth metals) reserves are concentrated in the tailings and ‘tail sand’ of beneficiation plants and deposits in central and southern Kazakhstan, as well as rare metal deposits in eastern Kazakhstan,” he said.

    Galiev assured that JSC “National Geological Survey” is ready to partner with foreign companies and invited interested parties to familiarize themselves with the projects, promising to take all necessary measures to ensure favorable conditions for investors.

    Later, it became known that German companies Knauf Gruppe, GP Gunter Papenburg AG, Roxtec, and the German Lithium Institute (ITEL) formed a consortium for the development and production of lithium, using Kazakhstan’s deposits as a basis.

  • European Lithium’s Nasdaq Surge and Future Outlook

    European Lithium’s Nasdaq Surge and Future Outlook

    The ascent of Critical Metals Corp. (CRML) on the Nasdaq exchange has been truly remarkable. With a remarkable surge of more than 26% in a single trading day, CRML concluded at an impressive US$13.03, causing ripples throughout the market. This surge, coupled with a substantial turnover exceeding A$1 million, highlights the strong interest and confidence surrounding CRML’s initiatives. Leading this narrative is European Lithium Ltd (EUR), which recently joined forces with Sizzle Acquisition Corp, positioning itself at the forefront of this growing story. This strategic merger not only enhances EUR’s market presence but also lays the groundwork for potential value appreciation for its investors. Despite CRML’s remarkable success, Barry Dawes of Martin Place Securities points out a disparity between CRML’s performance and EUR’s current share price, hovering around A$0.078. Dawes suggests that EUR’s market capitalization of US$1.064 billion significantly undervalues its inherent potential, given CRML’s trajectory. He argues that EUR shares should reasonably be at least five times higher to mirror CRML’s performance, indicating a considerable value disparity that needs addressing. At the core of European Lithium’s strategic vision lies the development of the Wolfsberg Lithium Project in Austria. This ambitious initiative, now elevated to a pre-development stage, underscores EUR’s unwavering commitment to becoming a pivotal player in the European lithium-ion battery supply chain. With Critical Metals Corp. spearheading this transformative project, Wolfsberg emerges as a crucial asset poised to reshape the regional battery landscape. EUR’s chairman, Tony Sage, expresses confidence in the company’s path, citing access to US capital markets and the synergistic advantages of being listed on Nasdaq. He envisions Critical Metals as a cornerstone supplier in Europe’s burgeoning battery sector, with Wolfsberg playing a catalytic role in driving sustainable innovation. In a positive development, European Lithium Ltd recently settled APL and Okewood Pty Ltd, boosting investor confidence and removing potential obstacles to growth. This resolution, praised by EUR’s executive chairman Tony Sage as “very positive,” underscores the company’s dedication to creating a favourable environment for value enhancement. Sage’s optimism resonates with shareholders, as the elimination of uncertainties clears the path for unimpeded progress and strategic alignment. As European Lithium navigates the complexities of the global market, such resolutions serve as a testament to its resilience and steadfast commitment to delivering value to shareholders.

  • New lithium deposit discovered in Eastern Kazakhstan: Foreign investors show interest in development

    New lithium deposit discovered in Eastern Kazakhstan: Foreign investors show interest in development

    In 2023, experts from the Korea Institute of Geoscience and Mineral Resources (KIGAM) announced their discovery of a new lithium deposit in Kazakhstan. The information about the unnamed deposit was published by the “Kursiv” newspaper, citing the Korea Times.

    The discovery of the deposit occurred as a result of geological studies on an area of 1.6 km² in Eastern Kazakhstan. Foreign investors have already shown interest in developing this deposit.

    KIGAM experts estimated the potential resources of the new deposit at $15.7 billion, although the exact amount of lithium found in the ground has not been disclosed. According to estimates, the deposit contains high concentrations of lithium up to 5.3%, making it potentially profitable.

    According to previous data, German companies have actively invested in lithium mining in Kazakhstan. Three major enterprises, including GP Gunter Papenburg AG, Knauf Gruppe, and Roxtec, have formed a consortium to develop production of this strategically important metal in the republic.

  • Korean Geologists Uncover $15.7 Billion Lithium Deposit in Kazakhstan

    Korean Geologists Uncover $15.7 Billion Lithium Deposit in Kazakhstan

    Korean Institute of Geoscience and Mineral Resources (KIGAM) reveals plans to exploit a lithium deposit in eastern Kazakhstan, covering an area of 1.6 square kilometers, as reported by Orda.kz citing The Korea Times. The region, previously mined for tantalum, has resources estimated at around $15.7 billion. KIGAM, responding to Kazakhstan government’s request, studied the area since May last year, considering the significance of tantalum coexisting with lithium and cesium. Lithium, a crucial mineral for electric vehicle and modern industries, is a key component in batteries. KIGAM aims to apply for drilling rights in the region, intending to commence lithium extraction next year.

  • Rio Tinto Takes Cautious Approach to Lithium Amid Price Volatility

    Rio Tinto Takes Cautious Approach to Lithium Amid Price Volatility

    Rio Tinto remains cautiously optimistic about the future of lithium, driven by increasing demand for batteries in electric vehicles, but CEO Jakob Stausholm has indicated that the company will not pursue major acquisitions in the sector. Instead, Rio Tinto plans to focus on improving lithium extraction technology, as reported by Reuters.

    While acknowledging the growth potential of lithium, Stausholm emphasized the volatile nature of the metal’s price. Despite this, Rio Tinto, known primarily as the world’s largest iron ore producer, is among the few major mining companies investing in lithium. In contrast, competitors like BHP have refrained from significant investments in the electric vehicle battery sector.

    The recent decline in demand for electric vehicles has led to a significant drop in lithium prices, with Benchmark Mineral Intelligence reporting an over 80% decrease in lithium prices over the past year. This downturn has forced many producers to halt production and cut jobs.

    Speaking at the annual Prospectors & Developers Association of Canada (PDAC) conference in Toronto, Stausholm reiterated Rio Tinto’s stance on the volatile nature of battery material prices.

    Rio Tinto’s current lithium projects include the Rincon project in Argentina, where the company plans to construct a lithium carbonate plant with an annual capacity of 3000 tons for battery production, expected to commence by the end of 2024. Additionally, Rio Tinto owns the Jadar lithium project in Serbia, although the project has faced challenges after Serbia revoked its license in 2022 due to environmental concerns.

    Stausholm also expressed optimism about decreasing inflation in Western countries, foreseeing potential cost stabilization for the company in the upcoming year.