MINEX Forum

Tag: lithium

  • Savannah Resources Raises £9.2 Million in Oversubscribed Fundraise to Advance Barroso Lithium Project

    Savannah Resources Raises £9.2 Million in Oversubscribed Fundraise to Advance Barroso Lithium Project

    Savannah Resources Plc (AIM: SAV, FWB: SAV, SWB: SAV) announced it has successfully completed an oversubscribed £9.2 million (US$12 million) capital raise through a Placing and Subscription, with strong demand from existing and new institutional investors.

    The fundraising, managed through an accelerated bookbuild by SP Angel Corporate Finance LLP (Global Coordinator and Joint Bookrunner), alongside Canaccord Genuity Limited, Caixa-Banco de Investimento S.A., and Alantra Equities S.V. S.A., was significantly oversubscribed and scaled back as a result.

    The Company raised £5.9 million (US$7.6 million) via the Placing of 158.7 million shares and a further minimum £3.4 million (US$4.4 million) through a Subscription of at least 90.8 million shares, both at an issue price of 3.7 pence per share.

    Savannah’s Retail Offer remains open until 12:00 p.m. on 11 November 2025, after which final subscription totals will be confirmed.

    Use of Proceeds

    Net proceeds from the fundraise will strengthen Savannah’s financial position and accelerate development of the Barroso Lithium Project in northern Portugal — the largest battery-grade spodumene lithium resource in Europe and a European Commission “Strategic Project” under the Critical Raw Materials Act.

    Funds will be used to:

    • Acquire the Aldeia Mining Lease, which contains the highest-grade deposit within the Barroso Project area.

    • Advance Front-End Engineering Design (FEED) and long-lead item procurement.

    • Progress grid connection work and land control for infrastructure.

    • Cover project financing costs and provide additional working capital.

    CEO Statement

    Emanuel Proença, Chief Executive Officer, commented:

    “The strong demand from investors, which exceeded our US$12 million target, reflects growing confidence in the Barroso Lithium Project and renewed optimism in the lithium sector.

    With total cash reserves of approximately £20 million (US$26 million), Savannah is well positioned to move beyond the DFS and into pre-construction with confidence.

    The additional capital allows us to acquire the Aldeia Mining Lease and further progress critical workstreams ahead of construction.”

    Proença added that Savannah continues to expand its institutional investor base across Portugal, the UK, and Europe, with participation from both sector specialists and generalist investors. Retail investors are now able to participate through the open offer.

    Related Party Participation

    Key management and major shareholders took part in the subscription:

    Participant Subscription Shares Value (£) Resulting Shareholding
    Rick Anthon (Chairman) 550,676 £20,375 1,264,962 shares
    Emanuel Proença (CEO) 387,676 £14,352 3,124,556 shares
    Henrique Freire (CFO) 220,050 £8,135 2,520,050 shares

    Major shareholders also increased their stakes:

    • AMG Lithium B.V. subscribed for 39.1 million shares, bringing its total to 400.8 million shares.

    • Grupo Lusiaves SGPS, S.A. subscribed for 24.95 million shares (total 255.9 million).

    • Pluris Investments S.A. subscribed for 24.95 million shares (total 255.9 million).

    Their participation constitutes a related party transaction under AIM Rule 13. Independent directors Diogo da Silveira and Bruce Griffin reviewed the terms and deemed them fair and reasonable for shareholders.

    Admission and Next Steps

    Application has been made for the new shares to be admitted to trading on AIM. Dealings in the Placing and Subscription Shares are expected to commence at 8:00 a.m. on 12 November 2025.

    A separate announcement will follow for the Retail Offer results and Admission of additional shares.

    About Savannah Resources

    Savannah Resources Plc is a European lithium development company focused on the Barroso Lithium Project in northern Portugal. Once operational, the project is expected to produce around 190,000 tonnes per year of spodumene concentrate, enough lithium for approximately 500,000 electric vehicle battery packs annually.

    Through responsible development, Savannah aims to support Europe’s energy transition and contribute to the EU’s target of 10% domestic lithium supply by 2030.

  • ‘Europe’s Lithium Paradox’: Documentary Highlights Europe’s Struggle Between Green Ambitions and Mining Reality

    ‘Europe’s Lithium Paradox’: Documentary Highlights Europe’s Struggle Between Green Ambitions and Mining Reality

    Europe is facing a “critical crossroads” in its green transition, warns Dr. Peter Tom Jones, director of the KU Leuven Institute for Sustainable Metals and Minerals, whose new documentary Europe’s Lithium Paradox explores the continent’s mounting dilemma over lithium extraction.

    The one-hour film focuses on two key European lithium projects — in Portugal and Serbia — both stalled amid fierce public opposition and political hesitation. As Europe pushes to electrify transport and expand renewable energy, it finds itself torn between the need for raw materials and growing citizen resistance to mining.

    “You can’t recycle your way out of a fossil fuel economy,” Jones says. “You have to mine first — we simply don’t have enough scrap in Europe, and we won’t until at least 2035. That leaves us with a ten-year gap.”

    Europe’s Feedstock Crisis

    Jones argues that Europe’s transition to clean energy is being undermined by a lack of “feedstock” — the raw materials required for batteries, solar panels, and electric vehicles. While recycling giants like Umicore have proven high-level battery recovery is possible, the continent’s reliance on imported lithium remains a major vulnerability.

    He estimates that lithium mined in Serbia alone could power at least one million electric vehicles, potentially creating a “new ecosystem” including a refinery, battery recycling hub, and full supply chain infrastructure.

    “With ten or more industrial-scale mining sites — compared to just four today, one of which is idle — Europe could achieve self-sufficiency in lithium,” he insists. “We need to act now to avoid sleepwalking into the abyss.”

    A “Minerals Cold War”

    In the film, Jones warns that the geopolitical race for critical minerals is intensifying.

    “China and the U.S. aren’t playing by the rules — they’re making their own,” he says. “Donald Trump is pushing a capitalist model with minimum price floors for lithium, while China is restricting exports of technology metals. Europe is a bystander in this minerals cold war.”

    He argues that Europe’s regulatory delays, public protests, and political indecision risk leaving it strategically dependent on foreign supply chains — with devastating consequences for its industrial competitiveness.

    Between Industry and Activism

    Europe’s Lithium Paradox aims to spark informed debate, but its reception has been polarized. In both Serbia and Portugal, local communities refused to speak on camera, accusing the filmmakers of promoting mining interests. Ironically, mining companies also distanced themselves from the project, with some reportedly banning employees from watching it for being “too critical.”

    Jones acknowledges the tension but maintains that the documentary is “grounded in science, not politics.”

    “We’re trying to balance innovation with real-world concerns. I’ve heard the phrase ‘you can’t fight feelings with facts’ — but we can at least try to change the narrative,” he says.

    The film is currently touring European universities, R&D institutes, and industry conferences, and is also available on Amazon Prime.

    “Europe must move beyond entrenched positions and forge a united front,” Jones concludes. “This is not about taking sides — it’s about survival.”

  • Vulcan Energy Secures Approval to Build Commercial Lithium Extraction Plant in Germany

    Vulcan Energy Secures Approval to Build Commercial Lithium Extraction Plant in Germany

    Vulcan Energy Resources, the German-Australian company pioneering geothermal lithium production in Europe, has received construction approval for its commercial Lithium Extraction Plant (LEP) in Landau, Germany, marking a key milestone toward establishing Europe’s first carbon-neutral lithium supply chain.

    The City of Landau granted the permit for the facility in the D12 industrial zone, complementing previously approved construction permits for the site’s ORC geothermal power plant and 110/20 kV substation. According to Vulcan, it now holds all necessary permits to construct its combined geothermal and lithium extraction plant (G-LEP) in Landau.

    In the project’s first phase, Vulcan plans to produce several thousand tonnes of lithium chloride, which will be transported to Frankfurt-Höchst for further conversion into battery-grade lithium hydroxide monohydrate (LHM). Once fully operational, annual production is expected to reach 24,000 tonnes of LHM — enough to supply approximately 500,000 electric vehicles per year.

    The company’s lithium extraction process uses geothermal brine from the Upper Rhine Valley, home to Europe’s largest combined geothermal and lithium resource. Vulcan’s technology captures geothermal heat for district heating and renewable electricity generation, while extracting lithium chloride from cooled brine before reinjecting it underground. The company notes that the entire operation will be “carbon neutral and fossil fuel-free over its life cycle.”

    Vulcan has already tested the process at pilot scale in Landau and Höchst. In April 2024, the company’s Lithium Extraction Optimisation Plant (LEOP) successfully produced the first lithium chloride from geothermal brine, later refined into battery-grade lithium hydroxide at the Central Lithium Electrolysis Optimisation Plant (CLEOP) in Höchst.

    The upcoming commercial-scale LEP will be built later this year, contingent on the completion of the €690 million financing package for both Landau and Höchst facilities. The German federal government and the states of Rhineland-Palatinate and Hesse have pledged €103.6 million in funding through the EU’s Temporary Crisis and Transition Framework (TCTF) under the “Resilience and Sustainability of the Battery Cell Manufacturing Ecosystem” program.

    In March 2025, the European Union designated Vulcan’s Landau facility as one of 47 strategic projects under the Critical Raw Materials Act (CRMA).

    To secure final financing, Vulcan is leveraging offtake agreements with several major customers. Its latest supply deal, signed with Glencore, covers 36,000–44,000 tonnes of LHM over eight years. The company has also revised earlier agreements with Umicore (23,000 tonnes over six years), LG Energy Solution (31,000 tonnes over six years), and Stellantis (128,000 tonnes over ten years).

    While construction will begin soon, deliveries are now expected later than initially planned. Once operational, Vulcan’s German facilities will play a central role in Europe’s battery supply chain, reducing dependence on imported lithium and advancing the EU’s green industrial strategy.

  • Imerys in Exclusive Talks to Sell Minority Stake in French Lithium Project

    Imerys in Exclusive Talks to Sell Minority Stake in French Lithium Project

    French industrial minerals company Imerys announced it is in exclusive negotiations with a potential investor to sell a minority stake in its large-scale lithium mining project in central France, a key development in Europe’s efforts to secure domestic supplies of critical materials for the energy transition.

    Chief Financial Officer Sébastien Rouge told reporters on Thursday that the company is confident a deal can be finalized by the end of January 2026, though he declined to disclose the identity of the potential investor. The update came during the presentation of Imerys’ third-quarter results.

    Imerys first revealed plans in July to seek a financial and strategic partner for the project, which aims to produce battery-grade lithium to support Europe’s fast-growing electric vehicle industry. Since then, the estimated cost of the mine and processing complex — located near Echassières in France’s Allier department — has risen from €1 billion to €1.8 billion ($2.1 billion), reflecting inflationary pressures, higher energy costs, and expanded project scope.

    Once operational, the facility is expected to become one of Europe’s largest sources of lithium, a mineral considered vital for meeting EU goals to reduce dependence on imports from China and bolster the continent’s battery manufacturing capacity.

  • Tajikistan Aims to Become a Key Producer of Critical Metals for the Green Transition

    Tajikistan Aims to Become a Key Producer of Critical Metals for the Green Transition

    Tajikistan holds reserves of ten out of twelve metals essential for the global green transition and is actively developing their production, Minister of Industry and New Technologies Sherali Kabir announced on October 14 at the Dushanbe – 2025 International Investment Forum. According to the minister, six of these critical metals are already being produced domestically, with plans to further expand operations and integrate into the new global supply chain of rare earth elements.

    Critical metals, such as those used in solar and wind power systems as well as electric vehicles, are vital to green technologies. Kabir highlighted that during the Soviet era, only three plants in the entire USSR produced rare earth metals—two of them located in Tajikistan and one in Russia. Negotiations are currently underway with several international companies to modernize these facilities. “I am confident that in the near future we will see very good results,” Kabir said.

    Special focus has been placed on elements like antimony and stibnite, which play an important role in the green transition. “Tajikistan ranks second in the world in terms of antimony reserves,” Kabir noted, adding that four antimony plants are currently under development, ranging from feasibility studies to active construction stages.

    The minister also reported that Tajikistan has launched copper production—a key metal for the green economy—and plans to significantly increase output by attracting investment. Gold production is growing at around 20% annually, while the country also possesses large reserves of nickel and lithium. “We will be the first country in the CIS to produce lithium,” Kabir declared.

    Enterprises such as Azot and TALCO Gold are being positioned not only as regional leaders but as integral players in the global critical metals market. State programs are already in place to develop the mining sector, with Kabir expressing confidence that Tajikistan will soon secure a prominent place in the international market for metals vital to the green transition.

    He emphasized that international cooperation remains the main driver of growth for the metallurgical industry and that establishing new supply chains for rare earth and critical metals is essential to stabilizing global markets. The country’s president has made rapid industrialization a national priority—an approach that has already doubled Tajikistan’s industrial output over the past five years.

  • Tajikistan Targets Role in Global Rare Earth Supply Chain, Eyes Lithium and Antimony Production Expansion

    Tajikistan Targets Role in Global Rare Earth Supply Chain, Eyes Lithium and Antimony Production Expansion

    Tajikistan holds deposits of 10 out of 12 metals critical for the global energy transition, with six already being mined, Minister of Industry and New Technologies Sherali Kabir said at the Dushanbe 2025 International Investment Forum, according to Asia-Plus.

    Kabir outlined the government’s vision for Tajikistan to become an active player in the global rare earth supply chain, emphasizing that the country was once a hub for rare earth production within the former Soviet Union. Of the three rare earth processing plants that existed in the USSR, two were located in Tajikistan and one in Russia.

    Authorities are now in talks with international partners to modernize these facilities, with Kabir noting that the government expects “very good results” from these negotiations in the near future.

    Tajikistan is also doubling down on antimony, one of its most abundant resources. The country ranks second globally in terms of antimony reserves. Four new processing plants are in the pipeline, at various stages ranging from feasibility studies to construction.

    The minister also highlighted the growing copper industry, confirming that domestic production has already begun and that the government plans to significantly expand output by attracting foreign investment.

    Kabir further revealed that Tajikistan has large deposits of nickel and lithium ores, adding that the country’s ambition is to become the first among CIS nations to launch lithium production — a crucial material for batteries and clean energy technologies.

  • Vulcan Energy Signs Eight-Year Lithium Supply Deal with Glencore

    Vulcan Energy Signs Eight-Year Lithium Supply Deal with Glencore

    Vulcan Energy Resources has announced a major supply agreement with mining and commodities giant Glencore, under which it will deliver 36,000 to 44,000 tonnes of lithium hydroxide monohydrate from its Lionheart Project over an initial eight-year period.

    The deal represents roughly 20% of Vulcan’s planned output from the Lionheart Project during that timeframe and marks a key milestone for the company’s Phase One project financing.

    The agreement with Glencore adds to Vulcan’s growing roster of high-profile partners, which already includes Stellantis, Umicore, and LG Energy Solution. Vulcan said the Glencore deal will be the final offtake contract needed for its first project phase, while negotiations with additional European automakers are ongoing.

    “Vulcan has now achieved a good mix of offtake partners for Phase One lithium production: an automaker, a battery maker, a cathode manufacturer, and a commodities trader, all with a strong European focus,” said Cris Moreno, CEO and managing director of Vulcan Energy.

    Located on the French-German border, the Lionheart Project is regarded as Europe’s largest lithium resource. Vulcan’s development strategy focuses on producing climate-neutral lithium to support the region’s fast-growing electric vehicle and battery industries.

  • European Lithium Nets $50 Million from Partial Sale of Critical Metals Stake

    European Lithium Nets $50 Million from Partial Sale of Critical Metals Stake

    European Lithium (ASX: EUR) has generated an additional $50 million (A$76 million) through the sale of 3.85 million shares in Nasdaq-listed Critical Metals Corp (CRML) to a single U.S. institutional investor.

    The off-market transaction was executed at $13 per share, representing a 12% discount to CRML’s Friday closing price of $14.98. The sale follows a notable surge in CRML’s share price and trading activity on the Nasdaq, reflecting strong investor confidence in the company’s strategic position within the global critical minerals market.

    Executive chairperson Tony Sage said the deal underscored the robust demand for CRML stock.

    “The recent price increase and the large trading volumes on the Nasdaq show the demand for CRML shares is huge,” Sage commented.

    Following the sale, European Lithium retains 56 million CRML shares, valued at approximately $854 million (A$1.29 billion) based on the latest closing price.

    “The company’s holding in CRML equates to A$0.89 per EUR share,” Sage added. “EUR also holds a direct 7.5% interest in the Tanbreez project, and given CRML’s current market valuation of A$2.3 billion, this equity interest is very strategic.”

    European Lithium continues to advance its exploration and development portfolio across Austria, Ireland, Ukraine, and Australia, focusing on lithium and rare earth elements critical to the clean energy transition.

    Meanwhile, Critical Metals Corp (CRML) is strengthening its position as a major supplier of critical minerals to Western markets. Its flagship Tanbreez rare earth project in Greenland ranks among the world’s largest deposits, while its Wolfsberg lithium project in Austria—the first fully permitted lithium mine in Europe—is expected to play a key role in supporting the region’s battery and electric vehicle industries.

    CRML also holds a 20% interest in several Austrian mineral projects previously owned by European Lithium, building what it describes as a “strategic asset portfolio” supporting next-generation technologies and the global energy transition.

  • Von der Leyen Calls for Removal of Barriers to AI and Lithium Projects in Push for EU Competitiveness

    Von der Leyen Calls for Removal of Barriers to AI and Lithium Projects in Push for EU Competitiveness

    European Commission President Ursula von der Leyen has urged the removal of obstacles hindering the growth of key sectors such as artificial intelligence start-ups and lithium processing, while also calling for stronger infrastructure and trade partnerships to boost the EU’s competitiveness.

    Speaking in Brussels at a high-level conference marking one year since the Draghi Report, von der Leyen said Europe must act urgently to close the investment gap with the United States and China. The report estimated the EU needs an additional €800 billion annually, more than 4% of its GDP, to stay competitive.

    Von der Leyen highlighted the need to strengthen the EU’s single market, noting that internal barriers currently equate to tariffs of 45% on goods and 110% on services. “An AI start-up from Portugal or Romania should be able to grow without problems across our continent, and currently this is often not the case,” she said.

    She also pointed to the importance of securing critical raw materials, citing lithium processing in Portugal as an example of initiatives that need both financial support and timely licensing. On energy, she pledged further investment in interconnections, including the Bay of Biscay project, which will double capacity between France and Spain. She announced plans for a “network package” and an “energy motorways initiative” to address eight key bottlenecks in European energy infrastructure.

    In terms of global partnerships, von der Leyen underscored the EU’s distinctive approach to resource projects, pointing to the Lobito corridor linking Angola’s copper belt as a strategic initiative. “Other powers are only interested in extraction, [but] we build local processing industries and value chains because that is how we strengthen our own security,” she said.

    She also expressed determination to secure trade agreements, including with India by year-end, as well as advancing negotiations with South Africa, Malaysia, and the UAE.

    Acknowledging the EU’s slow progress on Draghi’s recommendations — only 11.2% have been fully implemented — von der Leyen stressed the need for urgency. She also reiterated the importance of greater European independence in defence, while cautioning that such efforts “will not happen overnight.”

  • U.S. and Ukraine Earmark $150 Million for Minerals Deal

    U.S. and Ukraine Earmark $150 Million for Minerals Deal

    The United States and Ukraine have committed $150 million to establish a reconstruction investment fund designed to channel foreign capital into Ukraine’s natural resources sector.

    Announced on 17 September by Ukraine’s Economy Minister, Oleksii Sobolev, the fund will see Washington and Kyiv invest $75 million each, with the U.S. contribution provided through the International Development Finance Corporation (DFC). Ukraine will finance its share in two instalments, drawn from this year’s and next year’s budgets.

    “This is definitely enough to make the first proper large-scale investments,” Sobolev told journalists.

    The initiative forms part of a wider U.S.-Ukraine resources agreement, signed in April, granting Washington favourable access to projects in natural resources, infrastructure, and defence. The fund will operate on a project-by-project basis, with both parties contributing only once an investment is approved.

    DFC officials visited Ukraine earlier this month, inspecting potential starter projects such as titanium, zirconium, and hafnium deposits in Kirovohrad Oblast. Mateo Goldman, DFC’s Senior Vice President for Investments, said: “Our $75 million investment is a major step to activating the fund and opening the Ukrainian market to new investment opportunities.”

    The fund’s board is expected to finalise its structure by late November, including the appointment of an administrator and approval of investment guidelines.

    Prime Minister Yulia Svyrydenko described the initial funding as a demonstration of “trust and long-term commitment” from Washington, noting that reinvested profits over the next decade will bolster Ukraine’s economic recovery.

    With U.S. interest in Ukraine’s critical raw materials and gas reserves, Kyiv hopes the partnership will accelerate both energy security and post-war reconstruction.