U.S. auto giant Ford Motor Co. has followed in the footsteps of Tesla and Korea’s LG Energy Solution after striking a deal with Australia’s Liontown Resources for the lithium supply for the next five years. The move comes as automakers scramble to secure the supply of the valuable commodity as the global pursuit of net-zero…
Ford Motor Follows Tesla Locking in Lithium Supply With Australian Miner Liontown
June 29, 2022
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Automotive Giant Stellantis Buys Stake in Aussie Miner as Lithium Costs Skyrocket
June 24, 2022
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The world’s fifth-largest automaker Stellantis—manufacturer of 14 makes, including Jeep, Maserati, and Chrysler—will become the second-largest shareholder of Australian lithium miner Vulcan Energy Resources. To fuel its ongoing electric vehicle sales, the carmaker will pay $76 million (US$52.45 million) to acquire an eight percent stake in Vulcan. The move comes as electric automakers explore ways…
Beijing and Chinese Companies Seek to Control Africa’s Rich Lithium and Cobalt Mines
The Chinese Communist Party (CCP) is stepping up its efforts to seize and control Africa’s natural resources. In particular, Chinese companies have accelerated their acquisition of lithium mines as lithium is an essential material used in the production of electric car batteries. A news release published in China’s The Paper last May indicated BYD Company,…
Bolivia Again Delays Announcement on Lithium Mining Tie-Ups
LA PAZ—Bolivia’s government on Wednesday declined to name which of six short-listed companies it would select to help mine its untapped lithium riches, with the chief of the country’s state-run lithium company saying more than one could be eventually selected. The government had already postponed a final announcement on its selection last month, amid high…
Austin-Based Startup EnergyX Out of Bolivian Lithium Race Over Technicality
American startup EnergyX and Argentine energy firm Tecpetrol have been disqualified from a race to mine Bolivian lithium, the government said, as the country aims to tap its vast resources in partnership with one or more foreign companies. Bolivia has the world’s largest lithium resources but it has struggled for decades to mine them commercially,…
Stellantis, Controlled Thermal in Lithium Hydroxide Deal
June 3, 2022
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Automaker Stellantis has reached a deal to have Controlled Thermal Resources Ltd. supply battery-grade lithium hydroxide for its electric vehicles in North America. CTR will supply Stellantis, the company that combined PSA Peugeot and Fiat Chrysler, with up to 25,000 metric tons per year of lithium hydroxide over the 10-year term of the agreement. CTR…
Aussie Firm Likely to Lose Major Lithium Mine to Web of Chinese Interests: Advisory
May 20, 2022
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Hedge fund research firm Boatman Capital says Australian miner AVZ will likely lose control of the valuable Manono lithium project in Africa to a coordinated web of Chinese interests. On May 20, Boatman released its analysis of the troubled Manono Lithium and Tin Project in the south of the Democratic Republic of Congo—estimated to contain…
‘Do You Like Minting Money?’: Musk Advises Entrepreneurs to Step Into Lithium Industry
Tesla Inc. chief executive officer Elon Musk has advised entrepreneurs to get into the lithium business as he seeks to expand the fast-growing industry that is crucial for products such as electric vehicles (EV). “We think we’re going to need to help the industry on this front,” Musk said on an earnings call on Wednesday. “I…
Chinese Firm to Acquire 13 Percent of Canadian Lithium Company for $5 Million
A Chinese firm that specializes in industrial explosives is planning to acquire an over 10 percent stake in a Canadian lithium company for $5 million. On April 17, China-based company Sichuan Yahua Industrial Group Co. Ltd announced its plan to acquire 13.2 percent of Ultra Lithium Inc., a Vancouver-based lithium and gold exploration firm, through its…
With Lithium Prices Up Ninefold, Report Underscores US Dependence on Foreign Minerals
April 11, 2022
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A recent white paper has laid out some of the challenges in supplying minerals for any energy transition from fossil fuels, offering a timely warning for policymakers as the increased demand for electric vehicles (EVs) drives up the costs of materials used in such products. Notably, the benchmark prices of lithium, lithium carbonate, and lithium…
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