Western governments should consider stockpiling critical battery metals such as cobalt and lithium, the International Energy Agency said, in a stark warning of the geopolitical risks that accompany the green-energy transition. That call comes as some policy makers worry the shift from burning fossil fuels to a greener economy will expose the world to new threats. Unlike oil, a relatively ubiquitous commodity, production and processing of minerals such as lithium, cobalt and some rare earth elements is highly concentrated, with the top three producers accounting for more than 75% of global supply.

IGO Limited says work is about to restart in earnest on completing Australia’s first lithium hydroxide plant after a troubled history of delays, cost blowouts and legal battles involving the Chinese owner. A handful of workers are back on site at the plant owned by Shenzhen Stock Exchange-listed Tianqi, with a new contractor expected to hit the ground within weeks to complete construction work and start commissioning.

Spain is moving aggressively to land new battery and electric vehicle plants, using billions of European Union pandemic relief funds to avoid being left behind as the global auto sector undertakes the biggest technology transformation in a century. As Europe's second largest car-producing nation behind Germany, and with the automotive sector accounting for 10% of its economy, Spain has a lot to lose as automakers overhaul supply chains and manufacturing for electric vehicles.

General Motors plans to invest more than $1 billion in a plant in Mexico to produce electric vehicles. The facility will begin producing at least one EV beginning in 2023, GM said. United Auto Workers Vice President Terry Dittes, who leads GM members, called the investment a “slap in the face” to the union members and U.S. taxpayers.

Renault CEO Luca de Meo set new targets for the electrification of the brand in Europe at the annual general meeting. In 2025, the share of electrified passenger cars should be 65 per cent. By 2030, the goal is a share of at least 90 per.

The California Independent System Operator (CAISO), which oversees much of the US state’s electricity infrastructure and markets, is preparing for the coming “surge” in energy storage deployments. CAISO said last week that it is exploring market reforms that would help it “embrace a historic tide of commercial-scale storage technology onto its system in the next few years”.

from the ASX...

AJM: Altura Negotiates Earn In Option for Nevada Lithium Project

Altura has been a shareholder in Lithium Corporation since 2012 and will now focus on upgrading its passive interest to active project involvement.

Letter of Intent for Earn-in Option for 60% of Fish Lake Valley project.

Fish Lake Valley is strategically located to support the North America lithium and electric vehicle market.

Altura to leverage its established battery materials relationships to uplift value for both Lithium Corporation and Altura.

Updated DFS released with outstanding results.

HPA project NPV8% increased to US$1.014b.

FYI progresses HPA MoU with Alcoa Australia.

FYI’s commences ESG certification.

Commenced process for quotation on the OTC market in US.

GEM Global takes initial strategic interest in FYI.

Alcoa and FYI joint pilot plant trial samples achieve average of 99.9986% Al2O3.

Renascor entered into non-binding Memoranda of Understanding (MOUs) to supply a total of up to 20,000tpa of Purified Spherical Graphite (PSG) from its 100%-owned Siviour Battery Anode Material Project (Siviour) in South Australia to leading Japanese-based global trading company, Hanwa Co., Ltd. (Hanwa),and Jiangxi Zhengtuo New Energy Technology Co. Ltd. (Zeto), a top ten anode producer globally.

• Renascor has now achieved total potential commitments covering in excess of 100% of current Siviour Stage 1 PSG production capacity of 28,000tpa, after previously executing a MOU for up to 10,000tpa with anode company Shanxi Minguang New Material Technology Co. Ltd (Minguang New Material).

As a response to PSG demand from Renascor’s existing offtake partners and increasing inbound enquiries from major anode manufacturers, Renascor commenced work to investigate a substantial increase to PSG production through an increaseto Siviour’sStage 1 PSG production capacity and a subsequent Stage 2 expansion.

Renascor achieved first stage product qualification of Siviour PSG with both Zeto and Minguang New Material, with the results enabling the two parties to progress engagement towards binding PSG offtake agreements.

Advanced mineral processing trials undertaken by leading independent battery mineral consultancy group Dorfner Anzaplan have confirmed the suitability of Renascor’s eco-friendly, hydrofluoric acid-free (HF-free) proprietary technology to purify graphite to battery grade, with results of up to 99.98% total carbon (TC) (versus anode industry standard of 99.95% TC).

Letter of in-principle support received from the Clean Energy Finance Corporation (CEFC), an Australian Government backed clean energy technology financier. The CEFC support adds to in-principle financing support received from Export Finance Australia (EFA), and Atradius, the respective export credit agencies of the Australian and Dutch Governments.

Renascor received confirmation from the South Australian Government Treasury that Siviour has been classified as a ‘New Mine’ for the purposes of State royalty calculations. The granting of New Mine status means that the Siviour will incur a reduced royalty rate of 2% of the net value of the minerals recovered from Siviour through 30 June 2026, representing a reduction from 3.5% over the initial years of production.

On 23 April 2021,Renascor announced a placement (Placement) to raise approximately $15 million (before costs) led by institutional investors in Australia and overseas. With the proceeds from the Placement, the SiviourProject is now fully funded up to the construction phase, targeted to commence in 2022.

Renascor’s cash position as of 31 March 2021 was approximately $4.1m. This does not include $15 million in proceeds (before costs) from the Placement, which are expected to be received in the current quarter.

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