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REUTERS/Steve Marcus/File photoAug 2 (Reuters) - Refining rare earths for the green energy transition is hard. "The (rare earths) commissioning process is painstaking, with stops and starts," Jim Litinsky, MP's CEO and largest shareholder, told investors in May. Rare earths magnets turn power into motion and are the essential components in an electric vehicle's motor. Rare earths refining "is not really being addressed even by those who are developing magnet capacity," said Ryan Castilloux, a minerals consultant at Adamas Intelligence. American Rare Earths is working with U.S. government scientists at the Lawrence Livermore Laboratory to develop bacteria that could process rare earths.

Persons: Steve Marcus, Lockheed Martin's, Lynas, Jim Litinsky, Kray Luxbacker, they've, Allan Walton, Ryan Castilloux, Castilloux, refines, Dysprosium, Tesla, Melissa Sanderson, Nathan Picarsic, Ernest Scheyder, Eric Onstad, Nick Carey, Melanie Burton, Veronica Brown, Susan Heavey Organizations: REUTERS, Lockheed, International Energy Agency, General Motors, University of, University of Birmingham, Adamas Intelligence, Trump, Reuters, Pentagon, Blue, Benchmark Mineral Intelligence, Edge, Sweden's, U.S, Lawrence Livermore Laboratory, Horizon Advisory, Thomson Locations: Pass , California, U.S, China, Apple's, Beijing, Texas, Western Australia, COVID, California, Myanmar, Vietnam, Malaysia, Australia, Kuala Lumpur, United States, San Antonio , Texas, Sweden, South Africa, Karr

☆ Exclusive: Sigma Lithium CEO says in talks with potential buyers
▼ + stars: | 2023-07-28 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +3 min

Bank of America has been Sigma's bank on retainer for some time and has been holding meetings for at least four months with parties that approach with interest in acquiring the lithium miner, Sigma CEO Ana Cabral-Gardner said in an interview. Cabral-Gardner said that while Bank of America is coordinating meetings with parties that approach Sigma, Sigma has not yet picked a bank to advise on any potential transaction. "We need to find someone to marry, and when we find someone to marry, then we choose a priest," Cabral-Gardner said, making an analogy between an M&A banker and a priest. Cabral-Gardner added that Sigma does not plan to sell the Brazilian mine separately from the company itself. Sigma has projected the mine will reach annual free cash flow of $455 million for its first phase of production.

Persons: Ana Cabral, Gardner, Cabral, " Cabral, Ernest Scheyder, Cynthia Osterman Organizations: Sigma, Bank of America, Reuters, LG Energy, Bloomberg News, Tesla Inc, Vancouver, Nasdaq, Thomson Locations: Brazil, Sigma's

☆ Exclusive: Exxon Mobil expands lithium bet with Tetra Technologies deal
▼ + stars: | 2023-06-28 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +3 min

Exxon acquired it earlier this year when it bought a neighboring Arkansas parcel of 100,000 acres from Galvanic Energy. Galvanic remains an independent, privately held company and is not affiliated with Tetra or Exxon. By partnering with Exxon, Tetra gains a large partner with capital to help it produce bromine, which is used in flame retardants, from the acreage. Exxon, meanwhile, gains access to yet another U.S. supply of lithium as the country rapidly expands its EV supply chain. Tetra had previously agreed to lease more than 27,000 acres in Arkansas to Standard Lithium (SLI.V) to produce lithium.

Persons: Tetra, Ernest Scheyder, Chris Reese Organizations: Exxon Mobil, Tetra Technologies Inc, Exxon, Energy, Tetra, Representatives, Eos Energy Enterprises, Arkansas, Reuters, Battery Metals, EnergySource Minerals, Thomson Locations: Arkansas, Tetra

☆ Lithium producers warn global supplies may not meet electric vehicle demand
▼ + stars: | 2023-06-22 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +4 min

"You could end up in a crisis situation where the battery companies don't have the security of (lithium) feedstock," Stu Crow, chairman of Lake Resources (LKE.AX), said on the sidelines of this week's Fastmarkets Lithium and Battery Raw Materials conference in Las Vegas. This week, Lake Resources became the latest lithium company to announce a project delay, pushing back first production from its Kachi lithium project in Argentina by three years. Albemarle (ALB.N), the world's largest lithium producer, is growing rapidly across the Americas, Asia and Australia. Still, it expects global lithium demand to exceed supply by 500,000 metric tons in 2030. ATTENDANCEOnce a niche event attended by industry die-hards, the Fastmarkets conference has grown rapidly alongside breakneck lithium demand.

Persons: Stu Crow, Eric Norris, Sarah Maryssael, Allkem, Goldman Sachs, Rahim Bapoo, Tara Berrie, Ernest Scheyder, David Gregorio Our Organizations: LAS VEGAS, Ford, Lake Resources, Raw Materials, Exxon Mobil, Banking, JPMorgan, BMO Capital Markets, Mitsui, hasn't, Rivian, Thomson Locations: Stellantis, Las Vegas, Argentina, Americas, Asia, Australia

Boric's shock announcement was all the more surprising as no DLE technology has reached commercial production without the use of those ponds, sparking competition to be the first. "Given those demand projections, there's definitely need for more supply from DLE," said Jordan Roberts, a Fastmarkets lithium industry analyst. A customer aiming to produce 15,000 metric tons of lithium each year, for example, could buy three stackable IBAT lithium plants. Exxon has also held talks with EnergySource Minerals about licensing DLE technology, two of the people said. Many brine deposits have varied chemical compositions, meaning it's unlikely that one DLE technology will emerge as a global leader.

Persons: DLE, Ken Hoffman, Gabriel Boric, Eramet, Sunresin, John Burba, That's, Alec Lucas, Jordan Roberts, IBAT, Garry Flowers, Eli Horton, Gavin Rennick, Sinead Kaufman, Dave Snydacker, Steven Schoffstall, doesn't, Chris Doornbos, Ernest Scheyder, Veronica Brown, Claudia Parsons Organizations: . Geological, EV Battery Materials Research, McKinsey & Co, Minerals, Battery Metals, Rio Tinto, Battery Tech, Fastmarkets, Exxon Mobil, Chevron, Reuters, Exxon, EnergySource Minerals, Koch Industries, Ford, SLB's New Energy, Mining, Solutions, BNP, BMW, Breakthrough Energy Ventures, Lake Resources, Miners, General Motors, Canadian, Imperial Oil, Thomson Locations: CHARLES , Louisiana, Europe, Asia, North America, Rio, U.S, DLE, Louisiana, Arkansas, Salton, Salt, Chile, Schlumberger, Nevada, Argentina

It has supported mine development by taking stakes in mining companies to help battery materials makers that do not have mines overseas like those owned by China's top lithium producers Ganfeng Lithium (002460.SZ), (002460.SZ) and Tianqi Lithium (002466.SZ). Separating lithium from lepidolite can cost as much as 100,000 yuan per metric ton, compared to 40,000-50,000 yuan for brine and 50,000-60,000 yuan for spodumene, analysts said. 'NATURAL RESOURCES CHAOS'Further dimming the outlook for lepidolite, environmental damage is a growing concern. As it gets stricter now, lithium resources in Yichun will lose their competitiveness with the higher costs for environmental protection," Ma said. UBS analysts see China's supply of lithium from lepidolite tripling to 280,000 metric tons, or 13% of global supply, between 2022 and 2025, well short of Yichun's target.

Persons: YICHUN, Yang Yaohua, Yang, Wu Wei, Eric Norris, Norris, Yongxing, Yichun, Ma Jun, Ma, Vicky Zhao, Li Qi, Siyi Liu, Dominique Patton, Ernest Scheyder, Tony Munroe, Sonali Paul Organizations: Australia, Guosen, Macquarie, Gotion High Tech, CRU, Xiamen University, Energy, Corp, Reuters, Materials Technology, Institute of Public & Environmental Affairs, UBS, Benchmark Mineral Intelligence, Beijing Newsroom, Thomson Locations: China, Yichun, lepidolite, Beijing, Sichuan, Qinghai, Tibet, Shanghai, Jin, U.S, Jiangxi, Houston

Interior Department on Tuesday removed one of the last remaining obstacles to Lithium Americas Corp's (LAC.TO), Thacker Pass mine project in Nevada by finding nearly all of the site contains the metal used to make electric-vehicle batteries. The opinion from the department's solicitor comes amid an acrimonious debate about whether more U.S. mines should be built to produce lithium and other green energy transition metals. Of the dozens of mining claims at the Thacker Pass site held by the company, the government found fewer than 10 did not contain lithium mineralization, an Interior Department official told Reuters. "They're going to be able to start construction and production without these claims being in the plan of operation," the official said of Lithium Americas. "We're in favor of increasing domestic mineral production when it's being done in the right location and in the right way," the official said.

☆ Livent, Allkem Agree to Create $10.6 Billion Lithium Producer
▼ + stars: | 2023-05-10 | by ( Rhiannon Hoyle | ) www.wsj.com time to read: 1 min

U.S.-based Livent has expertise in the processing of lithium. Photo: ERNEST SCHEYDER/via REUTERSADELAIDE, Australia—Lithium producers Livent and Allkem said they had agreed to a merger that will create a global mining company worth $10.6 billion, illustrating how a surge in demand for the battery mineral used in electric vehicles is sparking a rush to do deals. The all-stock transaction will result in shareholders of U.S.-based Livent owning around 44% of the combined company, with shareholders of Australia-listed Allkem holding the remaining stock, the companies said in a joint statement Wednesday. The enlarged company will have its headquarters in North America, and a primary listing on the New York Stock Exchange.

[1/2] The logo of battery recycler Li-Cycle Holdings Corp is displayed on their offices in Phoenix, Arizona, U.S. June 30, 2022. REUTERS/Ernest ScheyderMay 9 (Reuters) - Battery recycler Li-Cycle Holdings Corp (LICY.N) said on Tuesday it planned to develop a recycling hub in Italy along with Swiss miner and commodity trader Glencore Plc (GLEN.L) to produce battery materials including lithium. Canada-based Li-Cycle had earlier announced in March that it would be building a French battery processing facility amid rising demand for lithium due to its key role in transition towards net zero. The two companies are expected to complete a joint feasibility study for the project by mid-2024, Li-Cycle said. Once the companies make a final investment decision on the project, commissioning of the hub in Portovesme, Italy, is expected to commence in late 2026 to early 2027.

Musk said Tesla aimed to finish construction of the factory next year and then reach full production about a year later. We need lithium," Texas Governor Greg Abbott said at the ceremony. Musk has urged entrepreneurs to enter the lithium refining business, saying it is like "minting money." The refinery is the latest expansion by Tesla into Texas after the company moved its headquarters there from California in 2021. "We are proud that he calls Texas home," Abbott said, saying Tesla and Musk are "Texas's economic juggernauts."

☆ Tesla plans to produce lithium for 1 mln vehicles from Texas refinery -Elon Musk
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: 1 min

[1/2] The Tesla logo is seen on a car in Los Angeles, California, U.S., July 9, 2020. REUTERS/Lucy Nicholson/File PhotoSAN FRANCISCO, May 8 (Reuters) - Tesla (TSLA.O) expects to produce lithium for about 1 million electric vehicles at its upcoming lithium refinery factory in Texas, CEO Elon Musk said on Monday. Tesla broke ground on the lithium refining facility, as it looks to secure supply of the key component used in batteries and meet its ambitious sales target for electric vehicles. Musk said Tesla aims to finish construction of the factory next year and then reach full production about a year later. Reporting by Hyunjoo Jin and Ernest Scheyder Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

May 4 (Reuters) - Albemarle Corp (ALB.N) is open to renegotiating its Chile lithium contract before 2043 and would seek access to even more of the country's vast reserves of the metal used to make electric vehicle batteries, CEO Kent Masters told Reuters on Thursday. Albemarle and SQM's contracts only grant access to the Atacama salt flats, or salars, but Boric hopes to open up many other salars across his country for lithium production, a step that will require DLE technologies. Many DLE technologies use lots of potable water and electricity, a limitation that Albemarle has acknowledged and one it is working to limit. Chile and Albemarle could cement their dominant role in the global lithium and EV industries if they can get one or more DLE technology to succeed. Masters declined to comment on Australian lithium developer's Liontown Resources Ltd (LTR.AX) rejection in March of Albemarle's $3.7 billion takeover bid.

[1/2] Lithium evaporation ponds are seen at Albemarle Lithium production facility in Silver Peak, Nevada, U.S. October 6, 2022. REUTERS/Carlos BarriaMay 3 (Reuters) - Lithium producer Albemarle Corp (ALB.N) cut its annual profit forecast on Wednesday despite posting a better-than-expected quarterly earnings, citing softening prices for the metal used to make electric vehicle batteries. For the year, Albemarle cut its sales forecast to a range of $9.8 billion to $11.5 billion, from a prior forecast of $11.3 billion to $12.9 billion. The adjusted earnings forecast was trimmed to a range of $3.3 billion to $4 billion, from a prior $4.2 billion to $5.1 billion. Australian officials said earlier on Wednesday that Albemarle had agreed to spend $1 billion to expand lithium processing facilities in Western Australia.

May 2 (Reuters) - Lithium producer Livent Corp (LTHM.N) boosted its annual forecast on Tuesday after reporting better-than-expected quarterly profit, a bullish outlook fueled by rising prices and demand for the metal used to make electric vehicle batteries. While spot lithium prices in China had softened earlier this year, fueling concern the industry was entering a period of oversupply, Livent's results reflect strong appetite for its lithium and reinforce the company's strategy of selling the metal largely using long-term contracts. Excluding one-time items, Livent earned 60 cents per share. By that measure, analysts expected earnings of 39 cents per share, according to IBES data from Refinitiv. For the year, Livent boosted its revenue forecast to a range of $1.03 billion to $1.13 billion, from a previous range of $1 billion to $1.1 billion.

☆ Chile's lithium takeover plan faces technical, political challenges
▼ + stars: | 2023-04-28 | by ( Fabian Cambero | ) www.reuters.com time to read: +7 min

[1/3] A view of a brine pool of a lithium mine on the Atacama salt flat in the Atacama desert, Chile, August 16, 2018. REUTERS/Ivan Alvarado/File PhotoSANTIAGO, April 28 (Reuters) - While Chile's plan to take control of its lithium industry has caused global shockwaves, state-led production of the metal used to make electric vehicle batteries is seen by analysts as likely years away given technical and political challenges. CODELCO'S ROLEChile's state-run Codelco, the largest copper producer in the world, plays a key role in Boric's lithium plan although it has no experience in producing the white metal. The report noted that Argentina currently has more lithium projects in the pipeline than any other country in the world. Albemarle has said it needs new water sources to expand in Chile's Atacama salt flat, noting a desalination project was awaiting permits and construction.

Many DLE technologies use lots of potable water and electricity. SQM (SQMA.SN) and Albemarle Corp (ALB.N), Chile's two existing lithium producers, use evaporation ponds to produce the metal. Livent Corp (LTHM.N) uses a variation of DLE technology in Argentina alongside evaporation ponds. Lake Resources is working with Bill Gates-backed Lilac Solutions Inc to deploy Lilac's DLE technology in Argentina. In Chile, DLE companies see a business opportunity despite the nationalization plans given that Boric's new state lithium company is expected to need technical support.

Most new gas plants currently do not pay for emitting carbon, so the rules could make it harder for them to compete with solar and wind power. Second, the Inflation Reduction Act created tax credits making carbon capture and hydrogen more affordable and affirmed EPA's authority to regulate power plants. Existing technology can capture and store approximately 90% of carbon emissions, Lynch said. The EIA projected that this year, 54% of new generation (21GW) will be solar and 14% will be natural gas (7.5GW). Southern, which also runs the National Carbon Capture Center with the Department of Energy, said commercial deployment of carbon capture technology "is many years away" despite the cost-reduction potential of the Inflation Reduction Act.

SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. SQM has a larger footprint in Chile, with 81,000 hectares (about 200,000 acres) for lithium extraction compared with Albemarle's 16,000 hectares. Argentine state energy firm YPF last year began exploring lithium, while Bolivia has long maintained strict control over its huge though largely untapped resources. Mexico's President Andres Manuel Lopez Obrador and Bolivia's Luis Arce have touted the idea of a regional lithium "OPEC" to coordinate on lithium policy and benefit local economies.

The shock move in the country with the world's largest lithium reserves would in time transfer control of Chile's vast lithium operations from industry giants SQM (SQMA.SN) and Albemarle (ALB.N) to a separate state-owned company. "Nevertheless, projects with strategic values for the country, this partnership has to have a majority participation of the state," Boric said. The president added that there will be a division dedicated to advancing technology to minimize environmental impacts, including favoring direct lithium extraction over evaporation ponds. Privately held Summit Nanotech Corp, which is developing direct lithium extraction technology and recently opened a Santiago office, welcomed Boric's announcement. Boric said the country would look to protect biodiversity and share mining benefits with indigenous and surrounding communities as lithium extraction evolves.

The move would see Chile, the world's second largest lithium producer, shift to a model with the state holding a controlling interest in all new lithium projects through a public company that would partner with private mining firms. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. In early trading on Friday, Chilean firm SQM's U.S.-listed shares slid 6.2%, while Albemarle was down 2.5%. SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mining shares in London fell sharply too.

☆ Big copper deals to take centerstage in Santiago as demand heats up
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +4 min

Lundin Mining Corp (LUN.TO) is paying nearly $1 billion for control of Chile's Caserones copper mine despite ongoing political uncertainty in the country. "The green transformation theme remains a strong tailwind for copper, the king of green metals," Saxo Bank strategist Ole Hansen told Reuters. Global copper demand expected to reach 53 million tonnes annually by 2053 - more than double current levels - but supply is still expected to fall short, according an S&P Global (SPGI.N) study. And Hudbay Minerals Inc (HBM.TO) last week said it would pay $439 million for rival Copper Mountain Mining Corp (CMMC.TO). Neighboring Peru, the world's second-largest copper producer, also expects to boost production this year.

[1/2] A train loaded with copper cathodes travels along a rail line inside the Chuquicamata copper mine, which is owned by Chile's state-run copper producer Codelco, near Calama city, Chile, April 1, 2011. Lundin last month agreed to pay $950 million for 51% control of the mine, calling the deal "an endorsement that we believe the mining royalty and taxation discussions are trending in the right direction." In the past 18 months, mining giants have been vocal about concerns in Chile. BHP Group Ltd (BHP.AX) said it might reevaluate its investments depending on new tax plans by the government, while Freeport-McMoRan Inc (FCX.N) has said it would pause expansion plans in Chile, citing political uncertainty. Lundin remains confident in the future of the Caserones project, which began operations in 2014 and has annual output of 100,000 tonnes of copper.

[1/2] The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Many teem with lithium, calcium and other minerals, and DLE technologies aim to separate out the lithium and leave the rest. LITHIUM METAL FROM BRINEEnergyX has said its technology can make lithium metal directly from brine, a tantalizing prospect for GM that could let the automaker bypass lithium refining, which is widely seen as a key supply chain bottleneck. The EnergyX investment comes after GM in January agreed to pay $650 million to become the largest shareholder in Lithium Americas Corp (LAC.TO), which is developing the Thacker Pass clay lithium project in Nevada. "This GM investment will completely change the trajectory of EnergyX," said Teague Egan, the startup company's founder and chief executive.

TORONTO, April 10 (Reuters) - Glencore Plc (GLEN.L) Chief Executive Gary Nagle plans to meet with some of Teck Resources Ltd's (TECKb.TO) Canadian shareholders in Toronto this Thursday to personally lobby them for support of Glencore's proposed takeover of the copper and zinc miner, according to a source who was invited. Royal Bank of Canada's (RY.TO) RBC Capital Markets will host the Toronto lunch meeting, according to Jonathan Case of CI Global Asset Management, a Teck shareholder who was invited. RBC has been one of Glencore's bankers in the past. Teck's executives on Monday reinforced their rejection of Glencore's unsolicited $22.5 billion takeover offer. Reporting by Divya Rajagopal in Toronto; Editing by Ernest Scheyder and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ UN to start taking deep-sea mining applications this July
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

Deep-sea mining would extract cobalt, copper, nickel, and manganese - key battery materials - from potato-sized rocks called "polymetallic nodules" on the ocean's floor at depths of 4 to 6 km (2.5 to 4 miles). They are abundant in the Clarion-Clipperton Zone (CCZ) in the North Pacific Ocean between Hawaii and Mexico. The council plans to meet virtually before July to debate further whether approval of such applications could be delayed once received, according to the document. Its executives have repeatedly said they believe deep-sea mining would have less impact than traditional mining for battery metals on land. Reporting by Clara Denina and Ernest Scheyder; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

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