Lithium Miners News For The Month Of August 2024

seekingalpha08-27

Lithium prices were lower the past month.Lithium market news — With no recovery in sight, lithium prices force miners to reevaluate output. Lithium weakness pushes Chinese producers to consider output...

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Lithium weakness pushes Chinese producers to consider output...</p>\n\n<a href=\"https://seekingalpha.com/article/4717351-lithium-miners-news-for-the-month-of-august-2024\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lithium Miners News For The Month Of August 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLithium Miners News For The Month Of August 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-27 22:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4717351-lithium-miners-news-for-the-month-of-august-2024><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lithium prices were lower the past month.Lithium market news — With no recovery in sight, lithium prices force miners to reevaluate output. Lithium weakness pushes Chinese producers to consider output...</p>\n\n<a href=\"https://seekingalpha.com/article/4717351-lithium-miners-news-for-the-month-of-august-2024\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1548497426.USD","symbol_name":"安联环球人工智能AT Acc","start_time":0,"source_url":"https://seekingalpha.com/article/4717351-lithium-miners-news-for-the-month-of-august-2024","article_id":"2462995194","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2049011448/image_2049011448.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2462995194","pubTimestamp":1724770343,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Lithium prices were lower the past month.Lithium market news — With no recovery in sight, lithium prices force miners to reevaluate output. 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Lithium weakness pushes Chinese producers to consider output cuts: sources.Lithium company news — Albemarle pulls back on Kemerton lithium hydroxide facility expansion. SQM reports H1, 2024 net loss. Arcadium Lithium to pause two expansion plans.   Just_Super Welcome to the August 2024 edition of the lithium miner news. The past month saw lithium prices lower, approaching a 5-year low. Lithium price news Metal.com reported lithium spodumene concentrate Index (Li2O 5.5%-6.2%, excluding tax/insurance/freight) spot price of USD 772, as of August 23, 2024. China lithium carbonate spot price 5 year chart — CNY 74,000 (~USD 10,393) (source) Trading Economics Lithium demand versus supply outlook China's CITIC Futures forecasts lithium surpluses in 2024 and 2025 (source) — In 2024 they forecast a China lithium carbonate price average of CNY 100,000/t (~US$14,000/t) Mining.com courtesy CITIC Futures Benchmark Mineral Intelligence forecasts lithium surpluses to end 2028, then deficits to increase significantly from 2029 (as of May 2023) (source) Reuters courtesy BMI Trend Investing vs. IEA demand forecast for EV metals (Trend Investing) (IEA) Trend Investing & the IEA Lithium market and battery news On July 22 Bloomberg reported: With no recovery in sight, lithium prices force miners to reevaluate output. Reports from big producers could give clues on future supplies. Price drop may spark output cuts, project delays: S&P Global. BMI forecasts lithium surpluses to end 2028 (as of July 2024) (source) Bloomberg courtesy Benchmark Mineral Intelligence On July 23 Benchmark Mineral Intelligence reported: Rise of DLE will open up new sources of lithium supply this decade... helping to avert a forecast shortfall of supply...There are currently 13 operating DLE projects forecast to produce around 124,000 tonnes LCE of lithium chemicals in 2024. By 2035, DLE is expected to contribute 14% of total lithium supply, at around 470kt LCE, according to Benchmark’s Lithium Forecast. The majority of the 2035 supply is set to come from continental brines, but with geothermal and oil fields expected to take a 9%, 14% share respectively, according to Benchmark.  On July 25 Fastmarkets reported: China’s lithium carbonate imports remain high in June, adds to oversupply. Persistently high import volumes of lithium carbonate into China have intensified oversupply in the country's domestic market for the material at a time when demand remains weak, sources told Fastmarkets on Tuesday July 23. On August 7 Reuters reported: Australia's lithium industry seen bearing brunt of supply cuts. Arcadium Lithium on Wednesday joined a growing list of producers reviewing lithium operations in Australia amid a rout in prices for the battery raw material that is expected to result in more production cuts...Goldman Sachs expects spodumene prices to average $800 over the next year. Australia which supplies a little less than half of the world's lithium, and is higher cost than South American brine producers, is likely to bear the brunt of the next round of production cuts, analysts said.  On August 12 Bloomberg News reported: China drives African lithium surge to lock in key battery metal. Chinese miners and refiners are driving a surge in African lithium output, shrugging off concerns over a glut to lock in future supplies of the critical battery metal. The continent is projected to account for almost 11% of global supply this year, compared with close to zero at the start of the decade, according to S&P Global Commodity Insights. That’s projected to increase to more than 14% by 2028. More than two-thirds of the continent’s output comes from Zimbabwe, where Chinese firms, including Zhejiang Huayou Cobalt Co., Sinomine Resources Group Co. and Chengxin Group Co., have spent billions of dollars to commission mines and processing plants. Companies from China or with Chinese backing are also developing projects in Mali, Namibia and Nigeria. Across Africa, 15 mines that are under development or being expanded are due to be producing by 2030, according to Lukasz Bednarski, S&P’s principal research analyst for lithium and battery metals. Most are “sustainable,” even at current prices, he said. “It’s really significant growth in the last three years,” Bednarski said. On August 16 Fastmarkets reported: Lithium weakness pushes Chinese producers to consider output cuts: sources. Several Chinese lithium producers are considering production cuts or complete suspension to mitigate losses from high costs amid the ongoing lithium price decline and muted demand, sources told Fastmarkets.  On August 21 Fastmarkets reported: EV-related fire in South Korea ignites calls for battery transparency; LFP share grows. Concerns over battery security have escalated the debate over nickel cobalt manganese (NCM) and lithium iron phosphate (LFP) battery origins in South Korea following an electric vehicle fire due to a faulty battery according to sources.  On August 23 Fastmarkets reported: Albemarle’s Eric Norris says better incentive pricing needed in lithium market to avoid slowing of energy transition. Lithium miner news Albemarle (ALB)  On July 31, Seeking Alpha reported: “Albemarle Non-GAAP EPS of $0.04 misses by $0.42, revenue of $1.43B beats by $100M.” On July 31, Seeking Alpha reported: Albemarle announces asset and cost actions to enhance competitiveness and proactively respond to dynamic market conditions...As part of the initial review to optimize its network, Albemarle today announced changes to the operating footprint at its Kemerton lithium hydroxide conversion site in Australia. The company will:  Stop construction activities at Train 3. Idle production at Train 2 and place the unit in care and maintenance. Focus manufacturing efforts on the continued ramp and qualification of Train 1.  On August 5, Seeking Alpha reported: “Albemarle urges state help to compete with China as lithium producer struggles.” Sociedad Quimica y Minera S.A. (SQM), Covalent Lithium (SQM/WES JV) - Wesfarmers [ASX:WES] (OTCPK:WFAFY) The Mt Holland Lithium Mine is a 50/50 JV (“Covalent Lithium”) between Wesfarmers and SQM, located in Western Australia. Stage 1 plans to ramp to 300ktpa spodumene production after beginning in March 2024. On July 29, Sociedad Quimica y Minera S.A. announced: “SQM informs about Tianqi's appeal for illegality against the CMF.” On August 20, Sociedad Quimica y Minera S.A. announced: “SQM reports earnings for the second quarter of 2024.” Highlights include:  “SQM reported total revenues for the six months ended June 30, 2024, of US$2,378.1 million compared to total revenues of US$4,315.6 million for the same period last year. Net loss(1), (2) for the six months ended June 30, 2024, of (US$655.9) million or (US$2.30) per share, compared to net income(2) of US$1,330.1 million or US$4.66 per share for the same period last year. Strong sales volumes growth in lithium, iodine, and fertilizer businesses. Record-high quarterly sales volumes in lithium and iodine businesses, surpassing 52,000 metric tons and 4,000 metric tons, respectively. Signed definitive partnership agreement with Codelco to jointly develop and operate lithium assets in the Salar de Atacama until 2060. Signed a long-term agreement with Hyundai Motors Co. Ltd. and Kia Corporation. Launched SQM International Lithium to develop our lithium business outside of Chile.”  Upcoming catalysts: H1, 2025 — Production to start and then ramp to 50ktpa Lithium hydroxide [LiOH] at the Kwinana refinery in WA (SQM/Wesfarmers JV). Arcadium Lithium (ALTM) [ASX:LTM](formed from the Allkem and Livent merger in Jan. 2024) On August 2, Arcadium Lithium announced: Arcadium Lithium acquires Li-Metal's Lithium Metal business to enhance production capabilities and meet demand for next generation battery materials...The all-cash US$11 million acquisition includes the intellectual property and physical assets related to lithium metal production, including a pilot production facility in Ontario, Canada... On August 6, Arcadium Lithium announced: “Arcadium Lithium releases second quarter 2024 results.” Highlights include:  “Realized Average Pricing of $17,200 / Product Metric Ton for Lithium Hydroxide and Carbonate in the Second Quarter. Tracking Towards High End of $60 to 80 million Cost Savings Guidance in 2024 and Accelerating Further Cost Reductions. Projecting a 25% increase in combined Lithium Hydroxide and Carbonate volume in both 2024 and 2025 versus the prior year. Reducing capital spending by ~$500 million over next 24 months in response to current market conditions. Arcadium Lithium Investor Day scheduled for September 19th.”  On August 7, Seeking Alpha reported: Arcadium Lithium to pause two expansion plans amid price weakness... Given high costs and falling prices of raw material spodumene, Arcadium said it plans to pause its 40K metric ton spodumene Galaxy project in Canada and is exploring the opportunity to bring in a partner for a long-term strategic investment. Arcadium also is revisiting the sequencing of its combined 25K metric ton lithium carbonate projects at the Salar del Hombre Muerto in Argentina; rather than execute both at the same time, the projects will now be completed sequentially. As a result of the actions, Arcadium said it will immediately reduce its capital spending and plans to spend ~$500M less over the next two years. The company said it has no plans to alter the development of the 32K metric ton Nemaska Lithium integrated spodumene to hydroxide project in Canada.  Ganfeng Lithium Group [SHE:002460] [HK: 1772] (OTCPK:GNENY) On August 16, Reuters reported: Ganfeng Lithium to invest battery production in Turkey...its holding unit signed an agreement with a Turkish battery producer to set up a $500 million joint venture for lithium battery production. Jiangxi Ganfeng Lithium Battery Technology and Turkish top lead-acid battery producer YİĞİT AKÜ (YIGIT.IS), plan to build a 5GWh-annum production lithium battery plant in Turkey, according to a filing Ganfeng filed to Shenzhen Stock Exchange. (Chengdu) Tianqi Lithium Industries Inc. [SHE:002466], Tianqi Lithium Energy Australia (TLEA) is a JV with Tianqi Lithium (51%) and IGO Limited (49%). TLEA owns the Kwinana lithium hydroxide facility in WA No significant news for the month. Pilbara Minerals [ASX:PLS] (OTC:PILBF) On July 24, Pilbara Minerals announced: “Replacement announcement: June 2024 quarterly activities report.” Highlights include:  “Strong operational performance with record production volume of 226.2 thousand [K] dry metric tonnes (dmt) of spodumene concentrate in the three-month period ended 30 June 2024 (June Quarter). Relative to the March Quarter 2024 (prior Quarter), prices increased by 4% to an average estimated realised price of US$840/dmt 3 (CIF China) on a SC5.3 basis with sales increasing by 43% to 235.8k dmt. Revenue increased by 58% to $305M compared to the prior Quarter, reflecting a 43% increase in sales volume and a 4% increase in average realised price. Unit operating cost (FOB) of $591/dmt decreased by 12% compared to the prior Quarter, primarily driven by increased production volume due to the continuous operation of the P680 primary rejection facility and improved recoveries resulting from successful plant optimisation. Strong balance sheet position, with June Quarter end cash balance of $1.6B. Cash reduced by $156M in the June Quarter, largely due to continued capital expenditure for P680 and P1000 expansion projects. Both projects remain on schedule and on budget. Commencement of construction of the mid-stream demonstration plant at Pilgangoora Operation. Release of the P2000 pre-feasibility study [PFS] which determined that production capacity at the Pilgangoora Operation could be expanded to 2.0 million tonnes per annum (Mtpa) with the construction of an additional plant. 2024 financial year (FY24) guidance achieved or exceeded across all three metrics; production volume, unit operating cost (FOB) and capital expenditure. Guidance for FY25 released providing a further increase in production capacity care of two major brownfields expansion projects (P680 crushing and ore sorting and the P1000 Project) being brought online during the course of the year.”  On August 15, Pilbara Minerals announced: “Pilbara Minerals to acquire Latin Resources.” Highlights include:  “All-share consideration from Pilbara Minerals… On-strategy, counter-cyclical transaction which delivers both a premium to Latin Resources shareholders and is expected to be accretive to Pilbara Minerals across a range of key metrics including net asset value (NAV), Mineral Resources and future production. Salinas has the potential to make a significant contribution to the pro forma Pilbara Minerals by: immediately adding ~20% to Pilbara Minerals’ Mineral Resources;2 contributing up to ~30% of pro forma steady state production upon Salinas achieving steady state production at a cost base that is expected to be competitive with Pilgangoora; 1 and providing new supply opportunities into the North American and European battery markets. Latin Resources shareholders will receive 0.07 new Pilbara Minerals shares for each Latin Resources share... Based on Pilbara Minerals’ closing price of A$2.85 per share on 14 August 2024, the transaction implies a value of ~A$0.20 per Latin Resources share (Implied Offer Price) 3 which represents a: 57% premium to Latin Resources’ 10-day volume-weighted average price (VWAP) of A$0.127 per share; and 32% premium to Latin Resources’ 30-day VWAP of A$0.151 per share. The Latin Resources Board has unanimously recommended the Scheme in the absence of a Superior Proposal… All of the directors of Latin Resources’ Board (who together hold 4.8% of Latin Resources’ total issued shares) have confirmed their intention to vote in favor of the Scheme, subject to those same qualifications. Latin Resources’ largest shareholder José Luis Manzano (7.9%) has confirmed his intention to vote his Latin Resources shares in favour of the Scheme in the absence of a Superior Proposal emerging and subject to the independent expert concluding (and continuing to conclude) that the Scheme is in the best interests of Latin Resources shareholders. Latin Resources’ Managing Director, Chris Gale, has agreed to join Pilbara Minerals as a consultant for a period of 12 months to provide leadership continuity with key stakeholders, including the Latin Resources in-country team, senior government officials and local community representatives to progress key activities at Salinas.”  Upcoming catalysts:  2024 — Results of the Latin Resources takeover offer.  End Q2, FY 2024 — P680 Expansion Project set to reach full capacity.  Q3 FY, 2025 — P1000 Expansion Project set to begin production.  Mineral Resources [ASX:MIN] (OTCPK:MALRF) Mineral Resources core lithium assets include Mt Marion Mine (50% MIN: 50% Ganfeng) and the Wodgina Lithium Mine (50% ALB: 50% MIN). No significant news for the month. Sigma Lithium Resources [TSXV:SGML] (SGMLF) (SGML) Sigma is producing lithium spodumene at its Grota do Cirilo Mine in Brazil. On July 29, Sigma Lithium Resources announced:”Sigma Lithium signs inaugural deferred US$ 22.4 million letter of credit export financing with Banco do Brasil.” On August 13, Sigma Lithium Resources announced: Sigma Lithium completes full year of consistent operational cadence with 22,000t of quintuple zero green lithium loaded at the port; achieved zero work accidents for 365 days. On August 16, Sigma Lithium Resources announced: “Sigma Lithium announces 2q 24 results: reduced cash costs by 22%, increased fob margins to 54% achieving guidance ahead of schedule.” Highlights include: 2Q Operational Highlights [USD]  “...Achieved sales volumes of 52,572t in 2Q24. The Company expects total production of 5.0 Green Lithium in 3Q 24 of 60,000t. Continues to increase sales price premium relative to peer lithium producers:Maintained average of 10% price premiumization year to date.  Established track record of delivering high quality lithium materials to leading supply chains, increasing commercial assertiveness and flexibility Diversified commercial relationships by selling and engaging with new South Korean industrial, trading and battery manufacturing companies. Sigma’s 11th shipment sold to a large Japanese industrial conglomerate...    2Q Financial Highlights [USD]  “Revenues from volumes of lithium concentrate sold in 2Q totaled $54.4 million:Reported revenue totaled $45.9 million.  Achieved cost guidance ahead of schedule: 22% reduction in unit cash costs year to date, amongst the lowest in the sector: CIF equivalent (1) cash costs of $515/t / (2024 Guidance: $510/t). FOB cash costs of $424/t / (2024 Guidance: $420/t). Cash costs at industrial plant gate averaging $364/t / (2024 Guidance: $370/t).   Robust adjusted cash EBITDA margins of 29%, up from 16% in 1Q 24. Consistent operational performance and reliability of monthly shipments results in robust access to liquidity via export-linked credit lines at attractive interest rates: Comfortable liquidity position with cash balances as of August 14 of $99 million. Decreased cost of debt linked to export financing:From 15% per year in Jan. 24 to <6% per year (in USD).”     Upcoming catalysts: 2024/2025 - Grota do Cirilo Mine construction to double capacity to 520,000tpa of spodumene. AMG Critical Materials N.V. [NA:AMG] [GR:ADG] (OTCPK:AMVMF) (Formerly AMG Advanced Metallurgical Group NV) On July 31, AMG Critical Materials N.V. announced: AMG’s Critical Materials’ portfolio delivers strong quarterly results... second quarter 2024 revenue of $364 million, a 17% decrease versus the second quarter of 2023. Despite significant declines in lithium and vanadium prices compared to the same period in 2023, AMG achieved an adjusted EBITDA of $39 million by leveraging its diversified portfolio. AMG continued to experience robust structural demand for its critical materials which is a testament to the strategic positioning of our businesses and the low-cost position of all of our operations...Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, “...In terms of our growth initiatives, our major lithium projects continue on-schedule, with our Brazilian mine expansion and our lithium conversion plant ramp-up in Germany. Both projects strengthen our position in the lithium market. In June 2024, we took an additional step to expand our lithium resource portfolio with the capital investment in Savannah Resources, Europe’s largest spodumene lithium deposit. With current low price levels, AMG has been able to increase its control over lithium resources with minimal capital outlays. Additionally, our low-cost operations in Brazil are delivering continued profitability in lithium concentrate and are ramping up production ahead of schedule.” Upcoming catalysts:  2024 — Stage 2 production at Mibra Lithium-Tantalum mine (additional 40ktpa) forecast to begin ramping up. Total nameplate capacity to reach 130ktpa by end 2024. 2025-2028 — German LiOH facility expansion plan with Modules 2-5 (100,00tpa LiOH).  Sayona Mining [ASX:SYA] (OTCQB:SYAXF) On July 25, Sayona Mining announced: “Quarterly activities report June 2024.” Highlights include: North American Lithium achieves further concentrate production records Québec, Canada  “Ore mined of 233,699 wet metric tonnes [WMT] was 33% lower than the previous quarter as high ROM pad inventories were utilised while in-pit inventory increased by 44%. Process plant utilisation reached a new high of 83% up from 73% in the prior quarter. Lithium recovery for the quarter was also a new high of 68%, up from 67% in the prior quarter. Record production up nearly 23% to a record 49,660 tonnes of spodumene concentrate at an average grade of 5.3% for the quarter as a result of excellent mill utilisation and recovery. Daily production reached a new record of 919 tonnes in June and monthly production reached 19,314 tonnes in May. Unit operating costs for NAL decreased 2% Quarter on Quarter to A$1,506/dmt (US$995/dmt). Two marine cargoes of concentrate were sold by NAL during the quarter. A scheduled third cargo at the end of the June was delayed due to weather and departed port on 1 July. Consequently, shipments in the September quarter are now expected to be a minimum of 50,000 dry metric tonnes (dmt) and up to 65,000 dmt depending upon the timing of a shipment scheduled for late September. Total concentrate sold during the quarter was 27,729 dry metric tonnes. The average realised selling price (FOB) decreased by 11% to A$885/dmt (US$604/dmt) compared to the previous quarter. NAL revenue was A$25 million for the quarter, which was impacted by unfavourable quotational period adjustments and a delayed shipment. Major capital projects were completed at NAL, including the Crushed Ore Dome and refeed facility which was reflected in lower capital spend in this quarter and going forward.”  Western Australia, Australia “An orientation ground gravity survey was completed to assist in targeting the pegmatite system and potential lithium rich zones at depth. Reverse circulation [RC] drilling commenced in late May with 21 holes for 3,538 metres now complete. Assays are pending.” Corporate  “Mr. Lucas Dow was appointed as Managing Director and CEO on 3 July. Mr. Dow is a highly experienced mining executive who has a strong operational focus. Mr. James Brown will serve as an Executive Director until 31 January 2025 after which he will continue in a non-Executive Director role. The balance of cash and cash equivalents at the end of the quarter was $90.6 million, an $8.3 million decrease over the equivalent balance of $98.9 million at 31 March 2024.”  Upcoming catalysts include: 2024 — Spodumene production ramp up at NAL operations (owned SYA 75%: PLL 25%). Piedmont Lithium (PLL)[ASX:PLL]  Piedmont Lithium 100% own the Carolina Lithium spodumene project in North Carolina, USA; as well as 25% of the North American Lithium [NAL] Project in Canada and up to 40.5% of the Ewoyaa Lithium Project in Ghana (JV with Atlantic Lithium and Ghana Gov + Ghana MIIF). On July 26, Piedmont Lithium announced: “Piedmont Lithium announces Q2 2024 NAL production results.” Highlights include: Piedmont Lithium On August 9, Piedmont Lithium announced: “Piedmont lithium reports q2 2024 results. NAL achieves steady-state production; Shipments shift to contract customers.” Highlights include:  “NAL set quarterly records in Q2’24 for production (up 23% QoQ), lithium recovery (68%), and mill utilization (83%). NAL achieved steady-state production in June 2024; H2’24 production forecast supports Piedmont shipping guidance. Piedmont revenue of $13.2 million on sales of approximately 14,000 dmt of spodumene concentrate in Q2’24. Piedmont plans H2’24 customer shipments of approximately 96,500 dmt of spodumene concentrate. $59.0 million in cash as of June 30, 2024; capital expenditures and investments to significantly decrease in H2’24. Carolina Lithium mining permit received in Q2’24 from the state of North Carolina, renewing funding discussions. U.S. lithium hydroxide production strategy consolidated to leverage capital and technical resources.”  Upcoming catalysts include:  2024-25 — Carolina Lithium (100%) — Off-take or project funding announcements.  2025 — Ewoyaa Project in Ghana (up to 40.5% PLL) construction targeted to begin, subject to funding. ?2026+ — Tennessee Lithium hydroxide Project targeted to begin.  Core Lithium Ltd. [ASX:CXO] [GR:7CX] (OTCPK:CXOXF) (CORX) Core 100% owns the Finniss Lithium Project (Grants Resource) in Northern Territory Australia. On August 19, Core Lithium Ltd. announced: Response to Charger Metals announcement – Non binding Indicative Offer by Core...Core remains interested in the possibility of a mutually beneficial transaction with Charger and calls upon the board of Charger to engage constructively with Core and provide access to due diligence information, which Core is yet to receive. On August 21, Core Lithium Ltd. announced: “Drilling commences at Finniss.” Highlights include:  “Drilling started at Finniss following the completion of Core’s maiden drilling programs targeting lithium and gold at Shoobridge. Shoobridge drilling program was extended with an additional four holes completed. Finniss drilling focussing on expanding the Finniss lithium project through the discovery of new lithium resources within trucking distance of Grants processing infrastructure. Core holds ~500km2 of the Bynoe pegmatite field and considers there to be significant exploration upside. First assay results from Shoobridge are expected in September, and Finniss results are due in the December quarter.”  Upcoming catalysts include: 2024 — Any resumption of mining operations at the Grants open pit at Finniss where mining has been suspended in Jan. 2024. Lithium Americas Argentina [TSX:LAAC](LAAC) Lithium Americas Argentina owns the Argentina assets (Cauchari Olaroz JV, Pastos Grandes, Sal de la Puna) from the LAC split. On August 13, LAAC announced: Second quarter 2024 results...During the three months ended June 30, 2024, Caucharí-Olaroz produced approximately 5,600 tonnes of lithium carbonate, up 24% from the first quarter of 2024. Caucharí-Olaroz is currently operating at approximately 70% of the design capacity of 40,000 tonnes per year and has achieved production levels over this level on a limited basis. Production guidance of 20,000 – 25,000 tonnes of lithium carbonate in 2024 remains unchanged...In the current price environment, Caucharí-Olaroz is expected to remain operating cash flow positive when adjusted for working capital changes. Unit costs are expected to decrease as production volumes increase and as the plant approaches continuous production and nameplate capacity. During the ramp up phase, production is being primarily sold to Ganfeng Lithium Co. Ltd. (“Ganfeng”). Production during the second quarter of 2024 averaged approximately 99.5% lithium carbonate content...The Company is planning to use a portion of the $70M proceeds from the Pastos Grandes Transaction (as defined below), along with contributions from Ganfeng, to provide over $100M in additional liquidity to reduce leverage at Exar. Ganfeng and the Company continue to advance financing options to replace short-term debt with longer-term financing for Exar. On August 16, LAAC announced: Lithium Argentina closes Pastos Grandes transaction with Ganfeng Lithium...whereby Ganfeng Lithium acquired $70 million in newly issued shares of Proyecto Pastos Grandes S.A. (“PGCo”), the Company’s wholly-owned Argentinian subsidiary holding the Pastos Grandes project (“Pastos Grandes”) in Salta, Argentina, representing a 14.9% interest in PGCo and Pastos Grandes... Upcoming catalysts: 2024/25 — Cauchari-Olaroz lithium production ramp to 20,000-25,000tpa and then to 40,000tpa. From 2025+ a Stage 2 20ktpa+ expansion is planned. NB: Ganfeng Lithium (51%) and Lithium Americas Argentina (49%) own the JV company Minera Exar S.A., which owns 91.5% interest and is entitled to 100% of the production from the Cauchari-Olaroz Project. The 8.5% interest is owned by Jujuy Energia y Mineria Sociedad del Estado (“JEMSE”) (a company owned by the Government of Jujuy province). Zijin Mining Group [SHA:601899] [HKSE:2899] (OTCPK:ZIJMF) Zijin Mining owns 100% of the 3Q Lithium Mine in Argentina, with Stage 1 production started producing 2,903t LCE in 2023 and planning to ramp to 25,000tpa LCE. Zijing Mining is a large diversified mining group with global mines focused on copper, gold, zinc/lead, silver and lithium. No lithium related news. Argosy Minerals [ASX:AGY][GR:AM1] (OTCPK:ARYMF) Argosy has an interest in the Rincon Lithium Mine in Argentina. Argosy initially plans to ramp Stage 1 to 2,000tpa lithium carbonate. On July 26, Argosy Minerals announced: “Quarterly activities report – June 2024.” Highlights include:  “EIA regulatory approval granted for development of 10,000tpa LCE production operation expansion at Rincon Lithium Project → significant de-risk for project development. Strategic focus and priority on completing 10,000tpa project pre-development engineering works to a construction-ready stage – in conjunction with global engineering services company with lithium experience. Dynamic modelling produces outstanding results for Rincon Project → brine can be pumped for a period of up to 42 years to produce 12,000tpa of lithium carbonate or for up to 22 years to produce 24,000tpa of lithium carbonate. US$5 million strategic investment completed by Amperex Technology Limited – a world leading producer and innovator of lithium-ion batteries. 5,812ha of additional strategic tenements – increases total Rincon Lithium Project landholding to 8,606ha → provides increased scope for 10,000tpa scale commercial/industrial development and upgrading current JORC Mineral Resource Estimate. Spot sales contract executed for 20 metric tonnes of battery quality >99.5% lithium carbonate product achieving price of US$13,400/t – a premium to market prices. ~80t of lithium carbonate product stockpiled for strategic sale International lithium carbonate price outlook remains supportive to realise Argosy’s lithium production development strategy Strong financial position with cash reserves of ~$11.3 million (with an additional US$589,000 held in Puna Mining S.A. bank account) at 30 June 2024.”  Upcoming catalysts: 2024 — Work on the next stage 10,000tpa project at Rincon Lithium Project. Any re-opening of the suspended 2,000tpa operations at Rincon Lithium Mine. Other Chinese lithium producers (several are not listed)  Zhicun Lithium Group Ltd (private) Chengxin Lithium Group Co Ltd [SHE:002240] — also owns Sichuan Zhiyuan Lithium Industry Co., Ltd Sichuan Yahua Industrial Group Co Ltd [SHE:002497] Jianxiawo (owned by CATL) Jiangxi Nanshi Lithium Battery New Material Co., Ltd (owned by Nanshi Group and Yichun Mining) Jinzhou Yongshan Lithium [SHA:603399]  Lithium miner ETFs  Sprott Lithium Miners ETF (LITP) - A pure play lithium ETF  Global X Lithium & Battery Tech ETF (LIT) ProShares S&P Global Core Battery Metals ETF (ION)  The Amplify Lithium & Battery Technology ETF (BATT)   Global X Lithium & Battery Tech ETF (LIT) 10 year price chart (source)    Seeking Alpha Trend Investing lithium demand v supply model forecasts Trend Investing forecasts lithium demand to increase 11.5x this decade. Note: A Nov. 2020 UBS forecast is for “lithium demand to lift 11-fold from ~400kt in 2021 through to 2030.” Conclusion China lithium carbonate and spodumene prices were lower the past month. Highlights for the month were:  With no recovery in sight, lithium prices force miners to reevaluate output. BMI — Rise of DLE will open up new sources of lithium supply this decade, the majority to come from continental brines. Fastmarkets — China’s lithium carbonate imports remain high in June, adds to oversupply.  Australia's lithium industry seen bearing brunt of supply cuts. China drives African lithium surge to lock in key battery metal. Lithium weakness pushes Chinese producers to consider output cuts: sources. EV-related fire in South Korea ignites calls for battery transparency; LFP share grows. Albemarle pulls back on Kemerton lithium hydroxide facility expansion and idles Phase 2 production. SQM reports net loss for the six months to June 30, 2024 of US$655.9M. Arcadium Lithium to pause two expansion plans amid price weakness. Ganfeng Lithium to invest battery production in Turkey. Pilbara Minerals record Q2 production volume of 226.2kt of spodumene. Pilbara Minerals to acquire Latin Resources. Sigma Lithium Q2 cash costs reduced by 22% to CIF $515/t. Expects total production in Q3 of 60,000t. Sayona Mining — NAL record production in the June quarter, up nearly 23% to a record 49,660t of spodumene. LAAC — In Q2 Caucharí-Olaroz produced ~5,600t of lithium carbonate, now at ~70% of 40,000tpa capacity. Production guidance of 20-25,000t of lithium carbonate in 2024 remains unchanged. In the current price environment, Caucharí-Olaroz is expected to remain operating cash flow positive.  As usual, all comments are welcome.  Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. 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