Dec 11-Electric vehicle car and battery makers invest in mines
Canadian developers of cobalt and lithium mines stand to benefit from a round of investments from the makers of electric vehicles and the batteries powering them, a potential game-changer for small miners short on money to develop deposits of these critical battery ingredients.
Several, mostly lithium, mine developers in Australia have secured investment from automakers and battery makers, or held talks with them, as these downstream manufacturers look to secure raw materials that are forecast to be in short supply in coming years.
Here is a list of deals this year:
Oct. 24 - Lithium-ion battery chemicals producer Wuxi Baichuan Chemical Industry Co. said it would acquire a 10 percent stake in lithium mining company Metalstech Ltd for A$1.8 million in a bid to ensure sufficient supplies for the development of its lithium battery business in future.
Oct. 19 - China's Jiangxi Special Electric Motor Co Ltd, which makes electric vehicles and lithium batteries, said its German division had agreed to pay A$20 million for an 11.45-percent stake in Tawana Resources NL.
Tawana owns a 50-percent interest in the Bald Hill lithium and tantalum mine in Western Australia, which is expected to ship its first lithium concentrate shipment in March 2018.
Oct. 3 - Australian lithium miner Galaxy Resources Ltd said in a filing that it was in informal discussions with a number of parties in the battery supply chain, including Japan's Panasonic Corp.
Galaxy also said it was in informal talks with unnamed car manufacturers in respect of the long-term supply of lithium.
Sept. 28 - China automaker Great Wall Motor Co Ltd will take a 3.5 percent stake in Australian lithium mine developer Pilbara Minerals Ltd for A$28 million.
Great Wall has also agreed an off-take deal with Pilbara for 75,000 tonnes a year of spodumene concentrate - a source of lithium - for the second stage of its Pilgangoora project's development, set to begin in 2020, the firms said.
Great Wall also has the option to secure a further 75,000 tonnes a year of the mineral if it provides Pilbara with US$50 million of debt financing for the project's expansion.
Jan. 19 - Lithium Americas secures $112 million in funding to advance the Cauchari-Olaroz lithium project in Argentina from Thailand's Bangchak Petroleum Public Co, in exchange for an equity stake in the company, the right to buy a fixed portion of future production and debt funding.
Jan. 17 - Lithium Americas secures a $174 million in financing from Chinese lithium processor Ganfeng Lithium in exchange for a 19.9 percent stake in the company, future production from the its Cauchari-Olaroz project in Argentina and $125 million in debt funding.
(Reporting by Nicole Mordant in Vancouver)
Canadian developers of cobalt and lithium mines stand to benefit from a round of investments from the makers of electric vehicles and the batteries powering them, a potential game-changer for small miners short on money to develop deposits of these critical battery ingredients.
Several, mostly lithium, mine developers in Australia have secured investment from automakers and battery makers, or held talks with them, as these downstream manufacturers look to secure raw materials that are forecast to be in short supply in coming years.
Here is a list of deals this year:
Oct. 24 - Lithium-ion battery chemicals producer Wuxi Baichuan Chemical Industry Co. said it would acquire a 10 percent stake in lithium mining company Metalstech Ltd for A$1.8 million in a bid to ensure sufficient supplies for the development of its lithium battery business in future.
Oct. 19 - China's Jiangxi Special Electric Motor Co Ltd, which makes electric vehicles and lithium batteries, said its German division had agreed to pay A$20 million for an 11.45-percent stake in Tawana Resources NL.
Tawana owns a 50-percent interest in the Bald Hill lithium and tantalum mine in Western Australia, which is expected to ship its first lithium concentrate shipment in March 2018.
Oct. 3 - Australian lithium miner Galaxy Resources Ltd said in a filing that it was in informal discussions with a number of parties in the battery supply chain, including Japan's Panasonic Corp.
Galaxy also said it was in informal talks with unnamed car manufacturers in respect of the long-term supply of lithium.
Sept. 28 - China automaker Great Wall Motor Co Ltd will take a 3.5 percent stake in Australian lithium mine developer Pilbara Minerals Ltd for A$28 million.
Great Wall has also agreed an off-take deal with Pilbara for 75,000 tonnes a year of spodumene concentrate - a source of lithium - for the second stage of its Pilgangoora project's development, set to begin in 2020, the firms said.
Great Wall also has the option to secure a further 75,000 tonnes a year of the mineral if it provides Pilbara with US$50 million of debt financing for the project's expansion.
Jan. 19 - Lithium Americas secures $112 million in funding to advance the Cauchari-Olaroz lithium project in Argentina from Thailand's Bangchak Petroleum Public Co, in exchange for an equity stake in the company, the right to buy a fixed portion of future production and debt funding.
Jan. 17 - Lithium Americas secures a $174 million in financing from Chinese lithium processor Ganfeng Lithium in exchange for a 19.9 percent stake in the company, future production from the its Cauchari-Olaroz project in Argentina and $125 million in debt funding.
(Reporting by Nicole Mordant in Vancouver)
