This reads to me as a gamble from the buyer that LiOH prices will fall below LiOH-equivalent spodumene prices, and a gamble from Pilbara on the reverse. It also suggests that had a BMX auction proceeded it might have surprised the market (to the downside, perhaps significantly)

Interesting how CATL's RMB200/US$29 /KG #lithium price fix for strategic battery customers is similar to the claimed US$30/KG for lepidolite-route lithium in Jiangxi, which will could become CATL's largest source of Li units. Not that I buy the US$30/KG claim!

Wonder how this will sit with the US’ DFC that is an LP alongside Mercuria in TechMet, the PE fund whose focus is on technology metal projects:

Er, what minerals 🫤 We have a little nickel and cobalt, a bit of lithium coming and graphite, alu and copper foil, and a few other bits n pieces, but struggling badly even for our own ecosystem. It would be good news for EU projects, but why give their output to the US?

Another political 🤝 on CRMs. But where is the industrialisation strategy and capital that turns intent into action (on UK side at least). Oh wait… there isn’t one 🙄

👀 on European projects now:

First there was 👀 on the #CRMAct (10% mined, 40% processed CRMs target for EU by 2030), and now 👀 EU raw materials qualifying for EV tax credits in US; for EU projects/mines March sees 🎅🏼 arriving twice. Just the small matter of a) few such projects/mines and b) er, permitting!

AMG in for 25% of Zinnwald #Lithium becoming its cornerstone, strategic industry investor. Probably not directly related, but first signs of the EU’s CRM Act effect? We need more established players to step up and help projects in Europe, following Sibanye’s lead with Keliber.

.Treasury Department has released the critical mineral reqt. to be eligible for the $3,750 EV credit. Value based, escalating 40-80% over 2023-27, and "extracted or processed in the USA or a country with which the USA has a FTA, or be recycled in N. America": home.treasury.gov/news/press-rel…

In days gone by, the use of #lithium in other, new, applications ex- battery industry was a stronger talking point. Now it just gets lost in the noise. But still exciting to see #lithium helping us get into space. #notpossibletoelectrifyrockets (if it was, Elon would be on it!)

If you've been unable to see the softened demand picture clearly from other battery raw material producers, Syrah nicely sum up the situation from the #graphite perspective. Midstream overexuberance in H2 2022 = a hangover in H1 2023 #itsnotaboutEVsales: syrahresources.com.au/investors/asx-…

BTR see #nickel prices falling to US$8,000/T as Indonesia (China) starts to dominate supply, however this would mean bifurcation of prices (MHP/NiSO4 from Class I) as very few ROW Class I suppliers can compete at this price level: financialpost.com/pmn/business-p…

South32 is considering a foray into #manganese supply for the LIB industry, potentially beyond its Hermosa AZ Zn-Ag-Mn project. This would mean processing its own HG ore, a potentially lower cost option to compete with Chinese HPMSM exports: miningweekly.com/article/austra…

Quoted here on "#Ford strikes major #lithium deals" cen.acs.org/energy/energy-… via C&EN (Chemical & Engineering News) “There’s still a basket of other [materials] that are problematic.... you can’t make three-quarters of a car. You’ve got to make the whole car." referring to the other raw materials needed.

We mean business. The #battery industry is of strategic importance, with some 160 industrial projects, incl. 30 gigafactories, supported by the #EUBatteryAlliance - now 800 members strong and growing.

We weren’t quite in stealth mode, but… Pleased to be officially launching the EBA Strategic Battery Materials Fund to help finance and support the evaluation phases of battery raw material projects in Europe and overseas. 🥅 = 💪🏼 🔋 ⛓️ in ⛏️ 🧪 & ♻️

Seems a prudent time given the current (sulphide-route) #nickel market troubles on “low” prices to re-up this from April 2023:

Strategic European investors the go-to as 'retail market dries up': mining.com.au/strategic-euro…

Canada 🇨🇦 playing by China’s 🇨🇳 playbook:

“Cobalt Holdings did not give reasons for the U-turn after pricing its shares at $2.56 each last week. However, sources cited by Reuters have indicated that the process was halted due to a lack of investor demand.” A somewhat predictable eventuality! mining.com/cobalt-holding…