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☆ Lithium giant Albemarle halts Australia plant expansion, reviews costs on weak lithium prices
▼ + stars: | 2024-07-31 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

A worker walks past a pile of lithium ore at a Talison Lithium Ltd. site, a joint venture between Tianqi Lithium Corp. and Albemarle Corp., in Greenbushes, Australia. Lithium mining giant Albemarle will halt the expansion of a manufacturing plant in Australia, as the company reviews costs due to headwinds from weak lithium prices. The impacted facility, the Kemerton plant in Australia, is where the company produces battery-grade lithium hydroxide for electric vehicles and other products. It will also idle a lithium processing line at the plant and focus production on a single line. The plant's production capacity will fall to 25,000 tons from 50,000 tons currently as the line is idled, Masters said.

Persons: Kent Masters, Masters, Albemarle Organizations: Ltd, Tianqi Lithium Corp, Albemarle Corp, Albemarle, CNBC Locations: Greenbushes, Australia, Kemerton

☆ What we'd like to see from 3 economic readings and 2 earnings reports next week
▼ + stars: | 2023-11-11 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major averages advanced again this week as earnings results came in largely better than expected, interest rates stabilized and oil prices dropped below $80 a barrel. Looking ahead, we'll get a couple more earnings results and some key inflationary data to chew on. In this past week, we bought 150 shares of DuPont (DD) and added 75 shares of Wynn Resorts (WYNN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Wynn Resort's, WYNN, we'll, That's, —, we're, it's, PANW, Tyson, Henry Schein, Spero, Sanara, Sara Lee Corp, JD.com, Woodward, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Nasdaq, Dow Jones, Coterra Energy, Emerson, Disney, PPI, TJX, Palo Alto Networks, DuPont, Wynn Resorts, WYNN, Tyson Foods, TSN, Tower Semiconductor, Partners, Genius Sports, Spero Therapeutics, Star Bulk Carriers Corp, Beauty Health, Asure, Gladstone Capital Corp, TeraWulf Inc, Harrow Health, Afya, Sea, Paysafe Group Holdings, Solar Inc, Aramark Holdings Corp, Lending, Holding, BioXcel Therapeutics, IHS Inc, Rewalk Robotics, Acurx Pharmaceuticals, Energizer Holdings, Power Solutions, Rekor Systems, Wine Estates, Momentus Inc, SIGMA Lithium Corporation, AlTi, QuickLogic Corporation, Arcturus Therapeutics, Dada Nexus, Solutions, Target Corp, Parts, ZIM Integrated Shipping Services, Alto Networks, Cisco Systems, Chemical & Mining Co, PennantPark Investment Corp, Copa Holdings S.A, Walmart, Arcos Dorados Holdings, ARCO, NICE, Body, Warner Music Group Corp, Ross Stores, Homes, Dolby Laboratories Inc, American Software, ESCO Technologies, ZTO, International, BJ's Wholesale, Jim Cramer's Charitable, CNBC, Maxx Locations: Macau, Chile, Cayman, Pasadena , California

Mining companies in the West are facing two overarching challenges in trying to produce enough metals to enable the energy transition, and at the same time build alternative supply chains to lessen their dependence on China. There is little doubt that Australia is a country well-placed to play a major role in supplying many of the metals vital to the energy transition. The previous models for developing mines appear no longer effective, and even if some projects do progress, they are nowhere near enough to provide enough material for the energy transition. Michael Willoughby, global head of metals, mining and transition materials at HSBC, told a forum at IMARC that there is capital available for mining, but it's located in developing countries such as China, Indonesia and Saudi Arabia. What's not being talked about is how all the new mines, mineral processing and renewable energy equipment is going to be funded.

Persons: Washington Alves, Michael Willoughby, Willoughby, Miral Organizations: Sigma Lithium Corp, REUTERS, Rights, Reuters . Mining, Mining, Resources Conference, HSBC, Reuters, Thomson Locations: Itinga, Minas Gerais, Brazil, China, Sydney, Asia, Australia, CHINA, Indonesia, Saudi Arabia, New South Wales, U.S

☆ Exclusive: Sigma Lithium COO steps down in new leadership shakeup, shares dive
▼ + stars: | 2023-10-05 | by ( Fabio Teixeira | ) www.reuters.com time to read: +1 min

View shows Sigma Lithium Corp production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. Sigma shares were down about 10% around midday in New York. Last week, Reuters reported that divorce proceedings between Sigma Chief Executive Ana Cabral-Gardner and Calvyn Gardner, her husband and former co-CEO, had triggered several lawsuits, including a dispute over some of the mineral rights where Sigma plans to build mining pits. At the time, Sigma told Reuters the dispute would not affect its expansion plans, as it said it can develop the area via a "waste sharing agreement." Gardner left his co-CEO role in January, and Sigma announced a new chief financial officer in August.

Persons: Washington Alves, Brian Talbot, Talbot, Ana Cabral, Gardner, Calvyn Gardner, Fabio Teixeira, Gabriel Stargardter, Brad Haynes, Susan Fenton, Rosalba O'Brien Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Sigma Chief, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver, New York

☆ Exclusive: Sigma Lithium COO steps down in latest leadership shakeup
▼ + stars: | 2023-10-05 | by ( Fabio Teixeira | ) www.reuters.com time to read: +1 min

View shows Sigma Lithium Corp production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. REUTERS/Washington Alves/File Photo Acquire Licensing RightsRIO DE JANEIRO, Oct 5 (Reuters) - Sigma Lithium (SGML.V) Chief Operating Officer Brian Talbot left the company at the end of last month, he told Reuters on Thursday, in the latest management shakeup at the Vancouver-based miner. Last week, Reuters reported that divorce proceedings between current Sigma Chief Executive Ana Cabral-Gardner and Calvyn Gardner, her husband and former co-CEO, had triggered several lawsuits, including a dispute over some of the mineral rights where Sigma plans to build mining pits. At the time, Sigma told Reuters the dispute would not affect its expansion plans, as it said it can develop the area via a "waste sharing agreement." Gardner left his co-CEO role in January, and Sigma announced a new chief financial officer in August.

Persons: Washington Alves, Brian Talbot, Talbot, Ana Cabral, Gardner, Calvyn Gardner, Fabio Teixeira, Gabriel Stargardter, Brad Haynes, Susan Fenton Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver

☆ Exclusive: Brazil mineral rights dispute casts shadow on Sigma Lithium expansion
▼ + stars: | 2023-09-28 | by ( Fabio Teixeira | ) www.reuters.com time to read: +6 min

View shows Sigma Lithium Corp SGML.V production at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. That transaction, Gardner's lawyers argued, would grant Sigma mineral rights to valuable lithium deposits and hurt RI-X's ability to develop its own mining project. At the time of the transfer, Gardner owned 49% of RI-X and Cabral-Gardner held 51%, documents show. Sigma shares, which had been up 4% in afternoon trading on Thursday, erased gains to close more than 2% lower after Reuters reported on the court injunction. Sigma declined to comment on the New York lawsuit, and said "the divorce proceedings are a private, personal matter and have no impact on how Sigma Lithium conducts business."

Persons: Washington Alves, Ana Cabral, Gardner, Calvyn Gardner, Cabral, Sigma, Fabio Teixeira, Ernest Scheyder, Gabriel Stargardter, Brad Haynes, Rosalba O'Brien Organizations: Sigma Lithium Corp, REUTERS, DE, Sigma, Reuters, Deloitte, Brazilian Mining Association, New, Thomson Locations: Itinga, Minas Gerais, Brazil, DE JANEIRO, Vancouver, Sao Paulo, New York

☆ Sigma Lithium to explore alternatives after proposals for miner, Brazil unit
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

Workers of Sigma Lithium Corp are seen at the Grota do Cirilo mine in Itinga, in Minas Gerais state, Brazil April 18, 2023. REUTERS/Washington Alves/File Photo Acquire Licensing RightsSept 13 (Reuters) - Miner Sigma Lithium (SGML.V), said on Wednesday it is evaluating strategic alternatives for the whole company, including its Brazilian unit, sending the company's U.S.-listed shares up 14.8% in premarket trading. The company said it has received multiple proposals for its Grota do Cirilo project in Brazil, Sigma Brazil and parent company Sigma Lithium. The proposals were from "global industry leaders in the energy, auto, batteries and lithium refining industries", according to Sigma Lithium. Sigma Lithium CEO Ana Cabral-Gardner said in July that Bank of America was coordinating talks with parties interested in acquiring it.

Persons: Washington Alves, Calvyn Gardner, Ana Cabral, Gardner, Sourasis Bose, Shounak Dasgupta Organizations: Sigma Lithium Corp, REUTERS, Sigma, Sigma Lithium, of America, LG Energy, Thomson Locations: Itinga, Minas Gerais, Brazil, U.S, Sigma Brazil, Vancouver , British Columbia, Bengaluru

☆ Sigma Lithium, eyeing buyout, sues ex-CEO and daughter-in-law over trade secrets
▼ + stars: | 2023-08-22 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 22 (Reuters) - Sigma Lithium (SGML.V), , which produces metal used in electric vehicle batteries, has sued a former co-chief executive officer, accusing him of stealing trade secrets to undermine the company's effort to sell itself. The lawsuit said Cabral-Gardner and Gardner lead a fund, A10 Investimentos, with a 44% stake in the company, with Cabral-Gardner owning 76% of the fund and Gardner owning 24%. In a July 28 interview, Cabral-Gardner said Sigma has been looking to strengthen its "unique environmentally competitive position" in the global supply chain. The case is Sigma Lithium Corp v Gardner et al, U.S. District Court, Southern District of New York, No. Reporting by Jonathan Stempel in New York; Additional reporting by Tatiana Bautzer; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Calvyn Gardner, Sigma's, Ana Cabral, Gardner, Luisa Valim, Gardner's, Valim, Cabral, Sigma, misappropriated, Jonathan Stempel, Tatiana Bautzer, Jonathan Oatis Organizations: Sigma, Bank of America, Sigma Lithium Corp, Court, Southern District of, Thomson Locations: Manhattan, Vancouver , British Columbia, Brazil, U.S, Southern District, Southern District of New York, New York

☆ EV brand Smart plans funding led by Tianqi Lithium
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, July 13 (Reuters) - EV brand Smart said on Thursday it planned to raise $250-300 million via series-A funding which it hoped would enhance its long-term sustainable development strategy and accelerate its global development. Chinese lithium producer Tianqi Lithium Corp (002466.SZ) has agreed to invest $150 million in the fund raising, Smart said in a statement. Smart, a joint venture of Germany's Mercedes-Benz Group AG (MBGn.DE) and China's Zhejiang Geely Holding Group (GEELY.UL), said both firms will remain equal controlling shareholders. "Thanks to the support from Mercedes-Benz and Geely, Smart now is accelerating its global development and business operation. Meanwhile, we are more than glad to welcome the strategic investments of worldwide industry leaders, such as Tianqi Lithium," Smart's Global CEO Tong Xiangbei said in the statement.

Persons: Smart, Germany's Mercedes, Tong Xiangbei, Zhang Yan, Brenda Goh, Meg Shen Organizations: Lithium Corp, Benz Group AG, Zhejiang Geely Holding, Mercedes, Benz, Smart, Thomson Locations: SHANGHAI, Zhejiang

☆ Australia's Allkem, Livent to merge into $10.6 bln lithium giant
▼ + stars: | 2023-05-10 | by ( Harish Sridharan | ) www.reuters.com time to read: +2 min

May 10 (Reuters) - Lithium producer Allkem Ltd (AKE.AX) has agreed to merge with U.S.-based Livent Corp (LTHM.N) to create one of the world's most valuable producers of the key raw materials used in electric-vehicle batteries. The all-stock deal will create a $10.6 billion entity, the fifth-largest in the world after Albemarle Corp (ALB.N), Sociedad Quimica y Minera de Chile S.A. (SQMA.SN), Ganfeng Lithium Group (002460.SZ) and Tianqi Lithium Corp (002466.SZ). ASX-listed Allkem produces lithium carbonate from its Sal de Vida facility in Argentina, which is near Livent's Hombre Mureto lithium project. Livent, based in Philadelphia, supplies lithium products to multiple U.S. automakers, including General Motors Co (GM.N), Tesla Inc (TSLA.O) and BMW (BMWG.DE). Under the deal, Allkem shareholders will get one share in the combined entity for each of their shares and the company will ultimately own 56% of the new firm.

☆ Australia signs land deal for proposed battery material plant
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +2 min

The proposed facility in Western Australia, the country's largest mining state, would be Australia's first to produce nickel-cobalt-manganese precursor cathode active material, used to make components for the lithium-ion batteries common in electric vehicles. IGO acting CEO Matt Dusci said the land deal was a "critical step" to better integrate into the battery supply chain. "We believe the area where Australia can be most competitive is in mid-stream battery chemical processing," Dusci said in a statement. A final investment decision for the project is subject to a feasibility study, due in mid-2024, and finding a project partner with battery chemical processing experience. Western Australia, which holds a majority of the country's critical mineral reserves, is at the forefront of the push to build processing capacity.

☆ Australia risks losing pole position in critical minerals race
▼ + stars: | 2023-03-30 | by ( Melanie Burton | ) www.reuters.com time to read: +5 min

The Grattan Institute, a think tank, estimates the critical minerals industry could add more than $400 billion to the economy by 2050, a bigger contribution than the coal industry, Australia's no.2 export, today. They want rapid action in light of new competition from the U.S., Canada and the European Union, which have laid out critical minerals strategies including billions of dollars in incentives. King said on Wednesday a critical minerals strategy would be released "soon". However the government has not said when it would deliver its national battery strategy. "The elements for an effective critical minerals strategy are in place.

☆ Lithium Industry Looks to Australia for Refining, Not Just Mining
▼ + stars: | 2023-02-21 | by ( Yusuf Khan | ) www.wsj.com time to read: +4 min

Chinese companies refine it into lithium sulfate and then process it into the lithium hydroxide used to make cathodes for batteries. China plays an outsize role in battery production, accounting for 44% of all lithium refining globally and 70% of battery cell production, according to Benchmark Mineral Intelligence. Some companies also are building European facilities for the next stage of the process: refining lithium sulfate into lithium hydroxide. Lithium mining projects in Germany and Portugal have emerged, although the permitting process can be complex, particularly if there is local opposition. In the meantime, new processing facilities can be built in three to five years, creating more opportunities for lithium mining companies.

☆ Lithium miner Sigma jumps on report Tesla considering buyout
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: +2 min

Feb 17 (Reuters) - U.S.-listed shares of Sigma Lithium Corp rose 21% in extended trading on Friday after Bloomberg News reported that Tesla Inc (TSLA.O) was weighing a takeover of the Canada-based battery metals miner. Tesla and Sigma Lithium did not immediately respond to Reuters requests for comment. U.S. stock of Sigma Lithium, which has a market capitalization of $3.21 billion, nearly trebled in value last year. Tesla and other automakers routinely talk to mining companies of all sizes about potential supplies of lithium and other EV metals without necessarily signing contracts. Tesla also has supply contracts for nickel, lithium and a range of other EV metals from suppliers across the globe.

SYDNEY, Jan 9 (Reuters) - A venture headed by China's Tianqi Lithium (002466.SZ) made an A$136 million ($94.07 million) bid to buy Australian lithium developer Essential Metals (ESS.AX), in a big test of Australian regulators' appetite for Chinese-led foreign investment. Tianqi Lithium Energy Australia (TLEA), which is 51% owned by Shenzhen- and Hong Kong-listed Tianqi Lithium Corporation and 49% by Australian miner IGO Ltd (IGO.AX), set the bid at 50 Australian cents per share. The deal requires the approval of Australia's Foreign Investment Review Board (FIRB), with Treasurer Jim Chalmers having the ultimate say. Essential Metals' shares surged as much as 40% on Monday, trading as high as 48.50 Australian cents. It expects the Essential Metals deal to be completed by May 2023.

The flurry of deals comes even as warnings emerge that lithium prices, driven to records by rapid growth in electric vehicles, may peak next year because of a looming supply glut. It also bought majority stakes in the Lakkor Tso Lithium Salar mine in China's Tibet region and the Xiangyuan lithium mine in Hunan province. Zijin has a market capitalisation of about $35 billion and net profit of 15.7 billion yuan ($2.2 billion) last year. Some firms are also working to develop alternative battery materials, which could reduce lithium demand in the long term. Zijin told investors recently it made its mine acquisitions based on lithium carbonate prices of 100,000 yuan a tonne.

☆ Peru targets local lithium battery production, official says
▼ + stars: | 2022-09-28 | by ( Marcelo Rochabrun | ) www.reuters.com time to read: +2 min

It has some lithium deposits in the southern region of Puno which are currently being explored by American Lithium Corp (LI.V). To be sure, Peru currently produces no lithium and no country in Latin America produces lithium batteries at a commercial scale even if they do mine lithium. Bolivia has the world's largest lithium resources but has for years struggled to mine them at a commercial scale. Mexico nationalized its lithium resources earlier this year and announced a state lithium mining company but has yet to start lithium production. Lithium battery production is currently dominated by China.

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