LG Energy signs battery material deals with Canadian firms 

23 September | DEALS

South Korean battery maker LG Energy Solution (LGES) has reached agreements with three major critical mineral suppliers in Canada to strengthen its key battery materials supply chain in North America. 


The firm signed the agreements with Electra Battery Materials, Snow Lake Resources and Avalon Advanced Materials. Under the binding term sheet with LGES, Electra will deliver 7,000 tonnes of cobalt sulphate over three years, beginning next year. 


The material is planned to be supplied from Electra’s cobalt sulphate refinery located north of Toronto, Canada. Furthermore, LGES signed two non-binding memorandums of understanding with Snow Lake and Avalon to secure a stable lithium supply. 


Avalon agreed to supply 11,000tpa (tonnes per annum) of lithium hydroxide to LGES for an initial period of five years, starting in 2025. During the initial five years, Avalon will provide at least 50% of its initial lithium hydroxide production from its Thunder Bay facility, also located in the proince of Ontario. 


LG Energy Solution CEO Youngsoo Kwon said: “As we have recently announced our mid-term to long-term strategy to focus on North America, the fastest growing EV market, these partnerships serve as a crucial step towards securing a stable key raw material supply chain in the region. 

23 September | exploration

Molten Metals obtains exploration licence for Slovakian tin mine 


Molten Metals has received an exploration licence through its wholly owned unit Slovak Antimony for the Bear Creek Tin mine at Hnilec in central Slovakia. 


Located 25km south of Spišská Nová Ves and 35km north of Rožňava, the licence covers an area of 4.37km². It is located in the same region as the company’s Tienesgrund Antimony-Gold project. 


From 1971 to 1981, state-owned enterprise Geologický Prieskum carried out exploration on the result of a tin soil anomaly. During the exploration period, Geologický Prieskum’s team drilled 47 surface drill holes and excavated 36 trenches, 82 underground drill holes, two adits and a 10m-deep shaft. 


Based on the exploration results, the project was estimated to hold reserves of 863kt of ore with a tin grade of 0.19%. Molten Metals said tin-rich parts of the deposit are identified in veins.


Molten Metals CEO Christopher Ecclestone said: “We identified this asset some months ago and made an application for it and are very pleased to now add it to our asset base in Slovakia. 

22 September | exploration

Elcora and Gold Lion reach exploration deal for Morocco manganese licence 


Canadian firms Elcora Advanced Materials and Gold Lion Resources have signed an agreement to commence exploitation on a manganese mining research licence in Morocco. 


Gold Lion picked a 25% stake in the manganese licence by paying $75,000 in cash and issuing five million of its common shares worth $250,000.


The company also holds an option to acquire another 15% stake in the property by paying $125,000 in cash within five business days of receiving notice of the exploitation licence grant.


Elcora unit Ermazon SARL currently owns the Moroccan mining licence for manganese research. Upon securing the exploitation licence, Elcora plans to start producing ore on the concession using the proceeds from the deal. 


Elcora CEO Troy Grant said: “Elcora is pleased to work with Gold Lion to develop the manganese site. Manganese is a critical metal used in the EV battery industry and is an important piece of our strategy to supply the increasing global demand for manganese, vanadium, lead and copper.  

21 September | deals

Lithium Americas forms strategic alliance with Green Technology Metals 


Lithium Americas and Australia’s Green Technology Metals (GT1) have announced an agreement to advance the development of an integrated lithium chemical supply chain in North America. 


Under the strategic collaboration agreement (SCA), the companies will undertake collaborative activities, including resource sharing and development related to hard rock lithium pegmatite assessments, new techniques, opportunities and consultations on findings. 


This agreement is expected to help the firms jointly develop midstream and downstream processing strategies and routes for battery-grade lithium chemicals in North America. 


The SCA follows Lithium Americas’ $10m equity investment in GT1 earlier this year, and provides the two firms with non-exclusive rights to undertake collaborative activities. 


The two companies will also establish a strategic management committee to discuss opportunities to jointly explore or develop, develop a strategic development framework and enable a joint development plan with a focus on Canada and the US. 


Lithium Americas president and CEO Jonathan Evans said: “On the back of the passing of the Inflation Reduction Act IRA by US Congress, we are having increased engagement with potential partners and customers focused on North America."

21 September | deals

Russia’s Rusal looks to directly sell aluminium on LME 


Russian aluminium company Rusal is considering selling aluminium directly to London Metal Exchange (LME) warehouses in Asia, reported Bloomberg News. 


The move comes as the firm faces difficulty in finding commodity buyers. While Rusal was not sanctioned in the wake of Russia’s invasion of Ukraine, some notable clients in the US and Europe have refrained from purchasing its metal amid the conflict. 


At the same time, domestic demand for metal in Russia has dropped, driven by a recession in the country. As a result, Rusal plans to sell its surplus production to the LME. 


However, concerns are being raised as large deliveries of the metal to the exchange could result in LME prices “diverging from the global aluminium market”. 


The company is considering a pilot test by delivering a small portion of its aluminium production, the parties stated. The LME said it would carry out a constant review of the situation to maintain an orderly market. 


Furthermore, the exchange said there is no evidence of LME warehouses being used to “offload metal on a long-term basis”. 

19 September | projects

Chinese firms get approval to build $2.83bn metals park in Zimbabwe 


Zimbabwe has given the green light to the development of a $2.83bn battery-metals park, proposed by a group of Chinese investors, reported Bloomberg News. 


Planned to be developed by Hong Kong Eagle International Investment and Pacific Goal Investment, the proposed plant will be equipped to process metals including platinum, lithium and nickel. 


Slated for completion by the end of 2025, the integrated industrial park will comprise a $1bn nickel-sulphate plant, a $500m nickel-chromium alloy smelter, and a $450m lithium-salt plant, Eagle International announced in documents.


Zimbabwe Deputy Mines Minister Polite Kambamura said an agreement is anticipated to be signed between Eagle International and Pacific Goal for the proposed plan, later this week. 


In its document, Eagle International said: “The goal of the New Energy Special Economic Zone Industrial Park is to develop an industrial value chain represented by new energy metals such as lithium and nickel, to increase the added value of the mineral products and form a new energy production base that embraced the world while based in Africa.” 

16 September | Exploration

Tertiary and FQM partner to jointly explore two Zambian copper projects 


Tertiary Minerals and First Quantum Minerals (FQM) have reached a technical cooperation agreement to jointly explore two copper projects in Zambia. The agreement covers the Mukai and Mushima North project interests in Tertiary Minerals in the country. 


Located in the north-western province of Zambia, the Mukai project exploration licence is close to FQM’s Trident Project, which includes the recently opened nickel mine and the sentinel copper mine. The Mushima North exploration licence in the Kasempa District is also located in the active exploration area for FQM. 


According to the agreed terms, Tertiary Minerals and FQM will set up a technical committee to work together on advancing the exploration and development of the two projects. The committee will also help and advise Tertiary on the projects’ technical matters. 


Tertiary Minerals executive chairman Patrick Cheetham said: “This agreement will turbo-charge Tertiary’s Zambian exploration in these two key licence areas."

Covid-19 latest 

Global deaths near 6.5 million 


Infection rates continue to rise, with the virus now reported in 202 countries and territories, with more than 600 million confirmed cases and almost 6.5 million deaths. The US leads the world in both confirmed cases and deaths, with more than 94 million, and over one million, respectively. 

Japan climbs to number three in positive test result percentage 


Between July and August, the percentage of positive test results in Japan increased to 26.37%, enough to move Japan from fifth to third in the world, ahead of Germany and South Korea. Brazil still leads the world in positive test result percentage, with a figure of 43.72%. 

National economies continue to see slower growth 


Around the world, countries are revising down their estimates for GDP growth to the end of the year. Germany, Brazil and Japan are among the countries with the lowest predicted GDP growth rates in 2022, with a mean growth forecast of 1.3%, 1.5% and 1.7% respectively.

Unemployment rate declines in “major economies” 


According to the OECD, the unemployment rate in OECD nations stood at 4.9% in July this year, declining from 6% in the same month of 2021. The unemployment rate among G7 nations declined to 3.9% in July this year, compared to 4.03% in the previous month, according to figures from 12 September.

15 September | Licencing

Pacific Nickel’s Kolosori project gets mining lease in Solomon Islands 


Australian firm Pacific Nickel Mines has received a mining lease from the Solomon Islands Ministry of Mines, Energy and Rural Electrification for the Kolosori Nickel project located on Isabel Island. 


The firm also signed a surface access rights agreement with landowners, as well as a mining agreement with the Solomon Islands Government that outlines the mining, environmental and fiscal terms for the Kolosori Nickel Project. 


The firm now plans to finalise the Definitive Feasibility Study (DFS) for the project while Australian Mine Design and Development is preparing the project’s reserve estimate. 


Pacific Nickel intends to accelerate the construction of the wharf and haul road.


The project is planned to reach full production of about 1.3 million wet metric tonnes annually of direct shipping nickel ore during 2023. 


The Kolosori Nickel Project is 80% owned by Pacific Nickel. The remaining 20% stake is held by the area’s traditional landowners. 


Pacific Nickel CEO Geoff Hiller said: “Now that we have been awarded a mining Lease, it allows the company to begin progressing development operations for Kolosori. The next step is to finalise a DFS for the project. 


“The timing of the DFS relies on a LiDAR survey and the construction of a second trial stockpile to assess moisture content. We are pleased to report that the initial LiDAR survey has been completed and that the second trial stockpile is under construction.” 

14 September | Environment

India’s JSW Steel partners SMS Group to reduce carbon emissions 


India’s JSW Steel has collaborated with Germany-based engineering and technology company the SMS group to explore research and development projects to produce green steel in India. 


The two firms signed a memorandum of understanding for exploring solutions to help decarbonise projects across various JSW Steel plants in India. 


The SMS group will provide its technology experts in design, engineering consultancy and commissioning for various projects to help JSW Steel reduce emissions at its various plants, according to APN News. 


SMS group managing board chairman and CEO Burkhard Dahmen said the firm’s experience in metallurgy combined with its digital expertise and plant technology consultancy will allow the SMS group and JSW Steel to create a greener metals industry.


JSW Steel has set a target to invest $1.3bn (Rs100bn) to reduce carbon dioxide emissions from steel manufacturing facilities. 


It aims to reduce greenhouse gas emissions to less than 1.95 tonnes of carbon dioxide per tonne of crude steel produced by the end of this decade. This equates to a 42% reduction from 2005 levels. 


JSW Steel chairman and managing director Sajjan Jindal said: “While the steel industry accounts for 0.7% of the world’s economic output, the industry also contributes 7% towards global emissions. We need a new transformative approach focused on a green steel vision.” 

Covid-19 latest 

Global deaths near 6.5 million 


Infection rates continue to rise, with the virus now reported in 202 countries and territories, with more than 600 million confirmed cases and almost 6.5 million deaths. The US leads the world in both confirmed cases and deaths, with more than 94 million, and over one million, respectively. 

Japan climbs to number three in positive test result percentage 


Between July and August, the percentage of positive test results in Japan increased to 26.37%, enough to move Japan from fifth to third in the world, ahead of Germany and South Korea. Brazil still leads the world in positive test result percentage, with a figure of 43.72%. 

National economies continue to see slower growth 


Around the world, countries are revising down their estimates for GDP growth to the end of the year. Germany, Brazil and Japan are among the countries with the lowest predicted GDP growth rates in 2022, with a mean growth forecast of 1.3%, 1.5% and 1.7% respectively. 

Unemployment rate declines in “major economies” 


According to the OECD, the unemployment rate in OECD nations stood at 4.9% in July this year, declining from 6% in the same month of 2021. The unemployment rate among G7 nations declined to 3.9% in July this year, compared to 4.03% in the previous month, according to figures from 12 September. 

ALROSA launches project to convert its vehicles to natural gas


Russian miner ALROSA has launched a project to convert its vehicles from gasoline and diesel to natural gas to cut greenhouse gas emissions and boost economic efficiency.