U.S. electric vehicle maker Tesla has proposed joining Indonesia's plans to create an EV battery supply chain within the country, a senior Indonesian government official said on Friday.

Shares of Albemarle dropped 2.8% in Tuesday’s extended market trading session after the global producer of lithium announced the launch of a $1.3 billion stock sale to fund its growth expansion plans and pay down debt. Specifically, Albemarle (ALB) disclosed that the sale proceeds will be used to fund the construction and expansion of its lithium operations in Australia, Chile and Silver Peak, Nevada, as well as opportunities in China. In addition, the lithium producer seeks to use the net proceeds for debt repayment in the short-term and other general corporate purposes.

CEP Energy, whose chairman is former NSW premier Morris Iemma, has secured a 30-year lease to install a 1,200-megawatt battery at Kurri Kurri north-west of Newcastle.

Sales of electric and plug-in hybrid cars in the European Union almost trebled to over 1 million vehicles last year, accounting for more than 10% of overall sales, data showed on Thursday. The jump in sales shows electrified vehicles are becoming more mainstream products after years of being a niche market and it came at a time when overall EU car sales plunged nearly 24% to 9.9 million because of COVID-19 lockdowns.

from the ASX...

AGY: $30M Placement to Fund 2,000tpa Production

Argosy has received firm commitments to raise $30 million through a significantly oversubscribed Placement supported by high quality institutional investors.

Rincon Lithium Project now fully funded through to 2,000tpa lithium carbonate production and cash-flow generation.

Argosy’s exclusive and proprietary environmentally clean chemical process technology is producing high purity battery quality lithium carbonate acceptable for high-specification international markets.

Funding enhances planned next stage 10,000tpa scale development of Rincon Lithium Project.

Proceeds from the Placement also applied to:

• Rincon 10,000tpa operation feasibility and development works
• Exploration at Tonopah Lithium Project in Nevada, USA
• Strategic opportunities and acquisitions

Core raises $40million to advance development of the Finniss Lithium Project in placement to global institutional investors.

Project substantially de-risked with funding through to construction, anticipated to commence prior to year-end, subject to FID.

Core well capitalised to accelerate resource drilling, further increase mine life, advance spodumene project development and preliminary LiOH design.

Shares placed to a select group of high-quality global institutional investors, primarily in North America, Europe and Australia.

Firm commitments received to raise A$54.6 million, with cornerstone investments from North American, German and Australian institutional investors.

Strong institutional investor interest highlights EcoGraf’s superior, environmentally responsible purification technology, providing customers with sustainably produced battery anode materials.

EcoGraf is now fully funded to complete phase one construction of its Australian commercial-scale battery anode material purification facility.

Vulcan has received firm commitments to raise A$120million (before costs) through a strongly supported placement at A$6.50per share to a suite of ESG-focused institutions. Goldman Sachs and Canaccord Genuity acted as Joint Lead Managers.

Proceeds from the Placement will support Vulcan through to final investment decision at its Zero Carbon Lithium® Project, with funds being applied to:

• Project development, feasibility study costs and permitting
• Drill site acquisition and preparation
• Strategic opportunities to accelerate project development

Upon settlement of the Placement, Vulcan will have a cash balance (before costsof the Placement) of ~A$125 million.

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