Lithium Junior Miner News For The Month Of March 2021
Mar. 26, 2021 6:43 AM ETABEPF, ALLIF, ARYMF...8 Comments10 Likes
Matt Bohlsen
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Summary
- Lithium prices surged higher the past month.
- Lithium market news - UBS forecasts overall lithium demand to lift 11-fold from ~400kt in 2021 through to 2030. Carmakers desperate to find reliable EV battery supply.
- Junior lithium miner company news - Ganfeng completes purchase at Sonora (JV with Bacanora). CATL maintains its 8% ownership in Neo Lithium. AVZ signs second binding SC6 Offtake Agreement.
- Piedmont Lithium raises A$159 million with Public Offering of American Depositary Shares (each ADS representing 100 of its ordinary shares). Standard Lithium successfully produces >99.985% purity battery quality lithium carbonate.
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Welcome to the March 2021 edition of the "junior" lithium miner news. I have categorized those lithium miners that won't likely be in production before 2022 as the juniors. Investors are reminded that most of the lithium juniors will most likely be needed in the mid and late 2020's to supply the booming electric vehicle [EV] and energy storage markets. This means investing in these companies requires a higher risk tolerance, and a longer time frame.
March saw lithium prices surge higher and lots of good news from the lithium juniors.
Lithium spot and contract price news
During the past 30 days, 99.5% lithium carbonate China spot prices were up 6.42%. Lithium hydroxide prices were up 8.09%. Spodumene (6% min) prices were up 11.96% over the past month.
Fastmarkets (formerly Metal Bulletin) reports 99.5% lithium carbonate battery grade spot midpoint prices cif China, Japan & Korea of US$10.25/kg (US$10,250/t), and min 56.5% lithium hydroxide battery grade spot midpoint prices cif China, Japan & Korea of US$11.50/kg (US$11,500/t).
Benchmark Mineral Intelligence as of Mid-March reported lithium carbonate prices of US$11,700/t (technical grade) to US$12,625 (battery grade), and for lithium hydroxide prices of US$9,625/t, and for spodumene-6% no figure was quoted (for January it was US$415/t, latest reports I have heard is that the price is now ~US$510/t).
Lithium carbonate & hydroxide, battery grade, cif China, Japan & Korea
Source: Fastmarkets
Lithium market news
For a summary of the latest lithium market news and the "major" lithium company's news, investors can read my "Lithium Miners News For The Month Of March 2021" article. Highlights include:
Benchmark Mineral Intelligence lithium demand v supply forecast
- Battery grade lithium carbonate prices (Benchmark Lithium Carbonate, Battery Grade, EXW China, ≥99.5% Li2CO3) increased by 68% in the first 2 months of 2021 in China on the back of high battery demand.
- Carmakers desperate to find reliable EV battery supply.
- Investors see ‘gold rush on steroids’ for green battery metals.
- U.S. looks to Canada for minerals to build electric vehicles -documents.
- UBS forecasts overall lithium demand to lift 11-fold from ~400kt in 2021 through to 2030.
Good News & Bad News, page-63
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