TLG - Media, page-2356

From moneymorning.com.au

The Perth-based company Talga Group Ltd [ASX:TLG] share price is up more than 8%…for no apparent reason. The company released no news today.

The company has been around since 2010.Talga Group are looking to become a vertically integrated producer of lithium-ion battery anode products in Europe.Looking to take a piece of the European marketTalga aims to build Europe’s largest anode supply chain outside of Asia to provide for the European electric vehicle (EV) market.

The company has some large natural graphite resource projects in Sweden, with nunasvaara as their main graphite deposit in the Vittangi project. The company says it is the highest-grade JORC/NI43-101 resource in the world with 16.9 metric tonnes at 25.6% graphite.Talga is also building an integrated graphite anode facility in Sweden that will run on 100% renewable electricity.Using renewable energy gives it a competitive advantage in the fact that it will provide lower emission products compared to some of its competitors.

According to the company, lithium-ion battery manufacturing in Europe will need 500,000 tonnes of new graphite anode per year until 2029.Talga is also building a pilot processing facility in Germany and have a battery anode product and technology centre in the UK.Europe EVs have been growing at a fast pace…even during the pandemicIn 2020, Europe overtook China for the first time in the last five years when it comes to EV sales.

While the pandemic drove the overall car sale market to collapse by 20% in Europe, plugin sales increased by a whopping 137% from 2019.In comparison, China saw a 12% increase and the US a 4% in EV sales for the year.With EVs rolling out at a faster pace in Europe, Talga Group also had a great year.

At time of writing, Talga Resources is trading at $1.43, up 8.33% since yesterday’s close and a whopping 367% higher than this time last year.If you are interested in lithium news you can read more here.

Best,Selva Freigedo