CA - Lithium Miners News For The Month Of March 2023

2023-03-27 09:09:37 ET

Summary

• Lithium chemical spot prices were significantly lower and spodumene spot prices were lower the past month. "Surge in Chinese lithium prices has turned into rapid retreat".
• Lithium market news - Beijing probes illegal mining activities in Chinese lithium hub. EU Commission proposes 10% of their critical raw materials supply to be mined in Europe by 2030.
• Lithium company news - SQM reported net income in 2022 of US$3,906.3m compared to US$585.5m in 2021. China’s Tianqi Lithium, Ganfeng Lithium mull acquisition of Sigma’s Brazilian lithium mines.
• Pilbara Minerals reported H2, 2022 $1.24b net profit and inaugural dividend payment. AMG’s low-cost lithium operations drive AMG to record-setting full year earnings.
• Sayona/Piedmont first lithium spodumene concentrate produced at NAL. Core Lithium first spodumene concentrate produced. Lithium Americas commences construction at Thacker Pass.

Welcome to the March 2023 edition of the lithium miner news.

The past month saw a collapse in China spot lithium carbonate prices which are now about 50% below their high point from Nov. 2022. The causes are poorly identified but range from slowing Chinese EV demand, excess inventory, and new supply coming online in 2023. Notably other markets were not hit so much and the mid to long-term demand picture for lithium remains very strong.

Lithium price news

Asian Metal reported during the past 30 days, the 99.5% China lithium carbonate spot price was down 21.15% and the China lithium hydroxide price was down 12.46%. The Lithium Iron Phosphate (Li 3.9% min) price was down 6.91%. The Spodumene (6% min) price was down 9.93% over the past 30 days.

Benchmark Mineral Intelligence reported (paywalled):

Lithium chemicals pricing in China is weighed on by weak demand, compounded by discounts on internal combustion engine [ICE] vehicles.....In response to volatile and falling prices, buyers continued to put off purchasing volumes on a spot basis and drew from waning inventories.....EV demand sentiment was weighed on by some automakers in China heavily discounting ICE vehicles, by as much as 50% for some models, in order to shift excess inventory, particularly in advance of new emissions standards expected to come into effect on 1 July 2023.......

Metal.com reported lithium spodumene concentrate (6%, CIF China) average price of USD 4,800/t, as of March 24, 2023.

China Lithium carbonate spot price 5 year chart - CNY 276,500 (~USD 40,259) ( source )

Wood Mackenzie's lithium price forecast - July 2022 ( Source )

Lithium demand versus supply outlook

2022 - UBS lithium demand v supply forecast to 2030

Lithium demand v supply forecast by Benchmark Mineral Intelligence (mid 2022 forecast)

Fastmarkets lithium demand v supply forecast (as of 2022) ( Source )

BMI (Q2, 2022 forecast ) - Lithium demand to exceed supply mostly this decade

Trend Investing v IEA demand forecast for EV metals ( Trend Investing ) ( IEA )

2021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020 - Increases Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Rare Earths 3x to 7x, And Copper 2x to 3x

Rio Tinto forecasts lithium emerging supply gap (October 2021) - 60 new mines the size of Jadar will be needed

BMI demand growth 2022-2035 (in mtpa) for critical metals. Number of new mines required by 2035 - 78 new lithium mines needed

Lithium market and battery news

An article we missed by Wio News on February 9 reported :

India discovers huge deposits of Lithium critical for electric mobility. India's mining ministry announced on Thursday that the country has found massive 5.9 million tonnes of Lithium deposits in the country's north in Jammu and Kashmir.

On February 23, CNEV Post reported :

Hina Battery becomes 1st battery maker to put sodium-ion batteries in EVs in China. The unveiling of the Sehol E10X test vehicle means that sodium-ion batteries are starting to be used in passenger cars, after the new batteries were mainly used in electric two-wheelers and for energy storage......the Sehol E10X has two pack capacities, 19.7 kWh and 31.4 kWh, with a range of 200 km and 302 km, respectively. The higher capacity pack has an energy density of 141 Wh/kg. The Sehol E10X is currently available in seven versions with a guide price range of RMB 46,900 ($6,810) to RMB 76,400......

On February 26, Mining.com reported :

Beijing probes illegal mining activities in Chinese lithium hub......Ore-processing operations in Yichun have been ordered to stop as investigators probe alleged violations at lithium mines, Yicai newspaper reported. That threatens somewhere between 8% and 13% of global supply.....Yichun currently produces between 10,000 tons and 12,000 tons of lithium carbonate per month, it reported. "If production is suspended for a month, the affected scale may account for about 10% of the global market," the analyst said.

Note: A Seeking Alpha news report stated : "Some lithium operations in Yichun, Jiangxi province, reportedly were halted after Beijing officials arrived over the past week to investigate alleged violations at lithium mines."

On March 2, Mining.com reported :

Tesla lobbying to secure lithium from Chile - report......Tesla executives met last month with Chilean authorities...... The official minutes of the meeting, disclosed by Corfo, show that Tesla is interested in knowing the agency's development plans for the sector as well as the opportunities for collaboration with lithium producers such as Albemarle...... Talks come as the Chilean government is planning to take a page out of Mexico's book and create a state-run lithium company, although authorities are open to let private companies in the sector through tenders.

On March 4, Bloomberg reported :

Shortage of metals for EVs is rising up the agenda in automakers' C-suites......Tesla Inc., Ford Motor Co. and Mercedes-Benz Group AG were among automakers which sent senior staff to mingle with about 1,500 delegates at the BMO Global Metals & Mining Conference...... Car producers "had room-to-room meetings with a lot of companies, like ourselves, trying to understand how to address their own supply chain," said Trent Mell, an attendee and chief executive officer of Electra Battery Materials Corp.........Automakers are also getting involved in the development of new mining projects.

On March 7, Mining Technology reported :

Iran claims to have discovered 8.5 million-ton lithium deposit......The quality of the deposit, as well as Iran's ability to mine and export it, remains to be seen.

On March 7, the Canadian Government announced : "Over $344 million for Canadian critical minerals development....."

On March 8, Euractiv reported : "LEAK: EU Commission wants 10% of critical raw materials mined in Europe."

On March 8, Reuters reported :

EU to set up central buying agency for critical minerals......such as lithium and rare earths and force member states to speed up permitting for new mines and processing plants, according to draft legislation.

On March 8, CNEVPOST reported :

CATL takes over Chinese lithium miner to lock in more material supplies......This means that the battle for Sinuowei's stake, which has been fought by several bidders over the past 10 months, ended with CATL winning......In January, a court in Yajiang approved Sinuowei's restructuring plan, and CATL then proposed an RMB 6.4 billion ($920 million) restructuring package to acquire 100 percent of the company.......

On March 9, Bloomberg reported :

Tesla supplier CATL smashes profit estimate as EV sales soar......CATL now commands 37% share of world's market for EV cells.......reported net income for the 12 months ended Dec. 31 of 30.72 billion yuan ($4.4 billion), an increase of 92.9% from the previous year.

On March 9, The Globe and Mail reported :

Ottawa considering equity stakes, advancing loans to critical minerals companies.......The Canada Growth Fund was announced in last year's budget, and will be backed by $15-billion in federal funds. The money will be invested in the shares of companies involved in low-carbon industries, including critical minerals companies aiming to produce metals such as lithium, cobalt, nickel and graphite, which are used in electric vehicle batteries. The fund's objective is to help Canada better compete against similar global initiatives like the 10-billion-Australian-dollar (about $9.1-billion) clean energy finance corporation in that country, and Japan's 2-trillion-yen (about $20.3-billion) green innovation fund......

On March 10, Bloomberg reported :

China lithium probe puts spotlight on reserves and ESG risks. Inspections target illegal mining of a key battery material.....China is the world's biggest producer of new energy vehicles but holds only a modest slice of global reserves of lithium.......A government inspection last month, which has shuttered some producers at a lithium mining hub in eastern China, is a clear signal that Beijing is turning its attention to better marshaling its domestic resources of the mineral, against a backdrop of record prices and short supply across the globe.

On March 13, Ontario.ca reported :

Canada and Ontario welcome historic investment from Volkswagen. German automaker to build its first overseas battery manufacturing plant in Ontario, Canada.

On March 16, the European Commission announced :

Critical Raw Materials: ensuring secure and sustainable supply chains for EU's green and digital future...... The Regulation sets clear benchmarks for domestic capacities along the strategic raw material supply chain and to diversify EU supply by 2030:

• At least 10% of the EU's annual consumption for extraction ,
• At least 40% of the EU's annual consumption for processing ,
• At least 15% of the EU's annual consumption for recycling ,
• Not more than 65% of the Union's annual consumption of each strategic raw material at any relevant stage of processing from a single third country.............

The proposed Regulation will be discussed and agreed by the European Parliament and the Council of the European Union before its adoption and entry into force.

On March 17, Fastmarkets reported : "EC names critical, strategic raw materials under proposed new act." All the battery metals were included.

On March 22, Mining.com reported :

Chile pushes new lithium extraction method in risk to future supply...... "For us, any future development has to done with direct extraction," Minister Hernando said. With direct lithium extraction, or DLE, brine can be reinjected back into salt flats, reducing the environmental impact and accelerating production. But it has to be adapted to the particular conditions of each salt flat.......The administration of Chile's left-leaning President Gabriel Boric is creating a bigger role for the state in lithium. Its new policy will include the creation of a state lithium company, with which private firms would partner to develop projects in unexplored brine deposits.

On March 22, Seeking Alpha reported :

Surge in Chinese lithium prices has turned into rapid retreat. Prices of lithium carbonate have been cut in half since rocketing to a record last November, Bloomberg reported Wednesday, reflecting the prospect of more global supply coming online this year and signs that the breakneck growth of China's electric vehicle sector is starting to moderate. "Lithium carbonate prices saw a greater rate of decline as greater supply growth outlook for the year coincides with weaker demand sentiment," BloombergNEF said in a report.

On March 23, Reuters reported :

Huayou starts trial production at Zimbabwe lithium mine, invests in Namibian project.....Huayou, one of the world's biggest cobalt producers, acquired Arcadia from Australia-listed Prospect Resources (PSC.AX) and its Zimbabwean partners in a $422 million deal completed in 2022. After the transaction, Huayou said it would spend $300 million to build a plant to process 4.5 million tonnes of lithium ore at Arcadia.

On March 24 Benchmark Mineral Intelligence reported : "US planned LFP battery production capacity soars past Europe with LGES and Gotion plants."

Lithium miner news

Albemarle (NYSE: ALB )

On February 22 Albemarle announced : "Albemarle Corporation announces agreements for restructure of MARBL Joint Venture in Australia and investment by Mineral Resources Limited in Albemarle conversion assets in China." Highlights include:

In Australia, upon closing of the restructured MARBL arrangements, which are subject to Australian regulatory approvals:

• "Albemarle will increase its interest in the first two conversion trains of the Kemerton processing plant from 60% to 85%. Albemarle will operate Kemerton trains 1 and 2 on behalf of the joint venture.
• MinRes will increase its interest in the Wodgina Lithium Mine Project from 40% to 50%. MinRes will operate the Wodgina mine on behalf of the joint venture.
• Consideration for Albemarle's increased stake in Kemerton will be offset by consideration for MinRes's increased stake in Wodgina.
• Albemarle will supply MinRes's 15% share of spodumene for use by the joint venture at the Kemerton plant from the Greenbushes mine. MinRes will pay market price for this share of Greenbushes spodumene.
• Each of Albemarle and MinRes will market its own share of lithium products converted from Wodgina spodumene.
• Albemarle and MinRes will enter into a commercial agreement for Albemarle to arrange conversion of both parties' shares of Wodgina spodumene. MinRes commits to fund 50% of the capital costs for downstream conversion capacity Albemarle nominates to process Wodgina spodumene. MinRes is expected to pay approximately US$350 million for its initial share of capital costs of this conversion capacity as of closing. Albemarle is expected to pay MinRes a completion adjustment currently estimated to be US$100 million to US$150 million reflecting the April 1, 2022, effective date."

In China, which is subject to Chinese regulatory approvals:

• "MinRes will acquire a 50% interest in Albemarle's 100%-owned Qinzhou and Meishan plants in China. Qinzhou has a designed capacity of 25ktpa. The plant will undergo modifications to be able to convert Wodgina spodumene and is expected to commence that conversion in early 2024. The Meishan plant, which is under construction with a designed capacity of 50ktpa, is scheduled to be commissioned by year-end 2024. Albemarle will continue to operate Meishan and Qinzhou."

On March 22 Albemarle announced :

Albemarle Corporation announces new U.S. Lithium Mega-Flex Processing Facility in South Carolina. Planned investment of at least $1.3 billion to help meet surging demand for electric vehicles and lithium-ion batteries.

Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM ), Wesfarmers [ASX:WES] ( WFAFY ), Covalent Lithium (SQM/WES JV)

On March 1, Sociedad Quimica y Minera S.A. announced : "SQM reports earnings for the twelve months ended December 31, 2022." Highlights include:

• "SQM reported net income(1) for the twelve months ended December 31, 2022 of US$3,906.3 million compared to US$585.5 million for the same period the year before. Earnings per share totaled US$13.68 for the first twelve months ended December 31, 2022, significantly higher than the US$2.05 reported for the same period of 2021.
• Revenues for the twelve months ended December31, 2022, were US$10,710.6 million.
• During the twelve months ended December 31, 2022, contributions to the Chilean treasury surpassed US$5.0 billion."

Upcoming catalysts:

Q4, 2023 - Mt Holland spodumene production to begin (SQM/Wesfarmers JV).

Q4, 2024 - 50ktpa Lithium hydroxide [LiOH] refinery (SQM/Wesfarmers JV).

Investors can read SQM's latest presentation here or the latest Trend Investing article on SQM here .

Jiangxi Ganfeng Lithium [SHE:002460] [HK: 1772] ( GNENF ) ( GNENY )

No significant news for the month; however see Sigma Lithium news on a possible takeover offer coming soon from Ganfeng or Tianqi Lithium. ("China's Tianqi Lithium, Ganfeng Lithium mull acquisition of Sigma's Brazilian lithium mines").

Investors can read the latest Trend Investing article on Ganfeng Lithium here .

(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 news for the month; however see Sigma Lithium news on a possible takeover offer coming soon from Tianqi or Ganfeng Lithium. ("China's Tianqi Lithium, Ganfeng Lithium mull acquisition of Sigma's Brazilian lithium mines").

Kwinana lithium refinery JV (51% Tianqi: 49% IGO) in Western Australia

Pilbara Minerals [ASX:PLS] ( OTC:PILBF )

On February 22, Pilbara Minerals announced :

Debt facilities executed to support growth strategy at Pilgangoora. A$250m long-term debt facility from Australian Government Agencies executed and existing syndicated debt facility to be refinanced on improved terms.

On February 23, Pilbara Minerals announced : "December 2022 half-year financial results. Record half-year operating performance and strong lithium market conditions underpin $1.24b net profit and inaugural dividend payment." Highlights include:

• "Production - 309,255 dry metric tonnes (dmt) of spodumene concentrate (1H FY22: 169,235 dmt). 83% up from 1H FY22.
• Shipments - 286,876 dmt of spodumene concentrate (1H FY22: 170,228 dmt). 68% up from 1H FY22.
• Sales - average realised sales price1 of US$4,993/dmt ~SC5.4 basis (CIF China) (1H FY22: US$1,232/dmt). 305% up from 1H FY22.
• Sales revenue - $2.18 billion (1H FY22: $291.7 million), supporting a substantial 959% increase in gross margin2 to $1.85 billion (1H FY22: $174.3 million). 647% up from 1H FY22.
• Earnings - EBITDA2 $1.81 billion, before depreciation and amortisation costs of $47.7 million, tax expense of $533.0 million, and net financing income of $11.0 million (1H FY22: EBITDA of $152.1 million). 1,091% up from 1H FY22.
• Profit - statutory net profit after tax of $1.24 billion (1H FY22: statutory profit of $114.0 million). 989% up from 1H FY22.
• Cash balance - $2.23 billion, a $1.63 billion improvement against the cash balance of $591.7 million as at 30 June 2022. 31 December 2022 net cash2 position of $2.08 billion after secured debt of $147.8 million (30 June 2022: $431.9 million). $1.63B up since June 22.
• Inaugural dividend (interim fully-franked) to shareholders, with the payment of $329.8 million to be paid in late March 2023. 11 cents per share."

On February 27, Pilbara Minerals announced : "POSCO Pilbara downstream JV secures debt facility. KRW600B (US$460M1) debt facility executed to fund the balance of the capital costs for the development of the 43ktpa LHM chemical facility in South Korea." Highlights include:

• "Joint venture company, POSCO Pilbara Lithium Solution Co Ltd (the POSCO Pilbara JV Company or Joint Venture) has executed a KRW600 billion (US$460M) debt facility with Korean government-owned banks.
• Debt facility represents the balance of the total funding requirement (approximately 60%) for the development and commissioning of the 43ktpa Lithium Hydroxide Monohydrate (LHM) Chemical Facility (Chemical Facility) currently under construction in Gwangyang, South Korea.
• Each JV participant has already contributed their share of equity funding, with Pilbara Minerals' initial 18% equity participation (with an option to increase to 30%) funded through the previously announced A$79.6M 5-year Convertible Bond Agreement provided by POSCO (see ASX announcement: 28th February 2018).
• Construction of the Chemical Facility is well underway with commissioning of the first 21,500tpa train scheduled from late CY2023."

On March 2, the AFR reported :

CATL sells $601m Pilbara Minerals stake ; Goldman, UBS split block. Chinese battery developer Contemporary Amperex Technology has banked a giant profit in Australian lithium group Pilbara Minerals, selling its stake for $601 million overnight.....CATL sold its 146 million shares for $4.10 a share......The trade followed CATL's earlier selldown, worth $250 million, on Tuesday morning, and sees the investor exit Pilbara Minerals in full.

Upcoming catalysts:

• Q4, 2023 - P680 Expansion Project set to begin production.
• Late 2023 - Plan to commission production of POSCO/Pilbara Minerals (18%, option to increase to 30%) JV LiOH facility in Korea.

Mineral Resources [ASX:MIN] ( MALRF )

Mineral resources lithium assets include Mt Marion Mine (50% MIN: 50% Ganfeng). Wodgina Lithium Mine (50% ALB: 50% MIN). The 50ktpa Kemerton Lithium Hydroxide refinery trains 1 & 2 (85% ALB: 15% MIN) to take feed from Greenbushes. Qinzhou (25ktpa) and Meishan (under construction - 50ktpa) conversion plants in China (50% ALB: 50% MIN) will take feed from Wodgina.

On February 24, The West Australian reported :

Mineral Resources chief Chris Ellison chasing more government incentives to secure lithium plants. Mineral Resources boss Chris Ellison has warned that Australia risks losing out to more generous countries unless the Albanese Government steps up its financial backing for downstream processing of battery minerals.

On February 24, Mineral Resources reported :

Half-year results announcement. MinRes generated underlying earnings before interest, tax, depreciation, amortisation and impairment (Underlying EBITDA)1of $939 million, up 503% on the prior corresponding period (pcp)2. The Company delivered a strong first-half performance, driven by record Lithium earnings from the conversion of both Mt Marion and Wodgina spodumene concentrate into lithium battery chemicals. The first-half performance was further underpinned by consistent Mining Services earnings and an improved contribution from Iron Ore on the back of higher achieved prices. Group underlying earnings after tax1were $387 million, up $423 million on pcp. Statutory net profit after tax was $390 million, up $370 million on pcp. Operating cash flow of $281 million was up $399 million on pcp from increased earnings with corresponding increases in working capital associated with the conversion of MinRes' spodumene concentrate into lithium hydroxide. The Board of Directors has declared a fully franked interim dividend for FY23 of $1.20 per share. The dividend is due to be paid on 30 March 2023 to shareholders on the register at 10 March 2023.

Investors can read the latest Trend Investing article on Mineral Resources here .

MinRes' production expansion targets as of Nov. 2022 ( source ) - Includes doubling Mt Marion capacity from 450-900ktpa in early 2023 ( now from July 2023 ) and Wodgina from 500ktpa to 750ktpa (Train 3 adds 250ktpa) by mid 2023

Livent Corp. ( LTHM )[GR:8LV]

No news for the month.

Allkem [ASX:AKE] [TSX:AKE] ( OROCF )(formerly Orocobre)

On February 24, Allkem announced : "FY23 half year results." Highlights include:

• "Group revenue for the period increased almost 3x to US$558 million on the previous corresponding period ("PCP").
• The Olaroz Lithium Facility1 achieved record production of 7,542 tonnes, 13% higher than the prior record in 2019.
• Record revenue from Olaroz increased ~4.5x to US$296 million on sales of 6,852 tonnes of lithium carbonate with an additional US$5 million of revenue generated from by-product sales. Average pricing increased almost 4x from the PCP to US$43,236/t FOB2. The gross profit margin was ~90%.
• Spodumene revenue increased by 65% from the PCP to US$190m from sales of 36,951 dry metrics tonnes (dmt) of spodumene concentrate at an average price of US$5,136/tonne CIF2. Gross cash margin of 76%.
• Additional revenue of ~US$72 million generated from sales of low-grade product from both Mt Cattlin and Olaroz reflecting very strong market conditions and demand from customers.
• Excellent operating performance and highly supportive market conditions generated group gross profit of US$462 million with group EBITDAIX of US$401 million and consolidated net profit after tax of US$219 million reflecting improved product prices, focused operational management and comprehensive cost control mitigating inflationary pressures.
• Strong cash generation and existing net cash balance of US$552m is expected to fully fund committed projects.
• Q3 FY23 lithium carbonate prices are expected to be approximately ~US$53,000/t FOB, excluding Naraha feedstock which is an intermediate input for the production of battery grade lithium hydroxide.
• Customer demand in the spodumene market remains robust, driven by strong lithium hydroxide requirements, and pricing in the March quarter is expected to be 5% above the December quarter."

Development Projects

• "New development and expansions are expected to see the business expand three-fold as the lithium industry continues to grow with the increasing adoption of electric vehicles.
• By the end of January Olaroz Stage 2 reached 97% completion, pre commissioning and commissioning activities are underway, with full commissioning activities expected to commence later in Q1 CY23. First production is planned for Q2 CY23.
• Naraha successfully achieved first production of lithium hydroxide and product quality exceeded expectations. Approximately 200 tonnes of lithium hydroxide produced during the quarter has been sold to third party customers. At the date of this report the plant was operating consistently at 85% utilisation producing on-spec battery grade lithium hydroxide.
• The first two strings of ponds at Sal de Vida Stage 1 are currently at ~87% completion and the EPC contract for the process plant has been awarded. First production currently estimated in mid-2024.
• James Bay obtained approval by the Joint Assessment Committee (Federal government) of the ESIA. Comex approval (Quebec government and CREE Nation) of the ESIA, agreement of the IBA."

Upcoming catalysts include:

• Q2, 2023 - Olaroz Stage 2 expansion production followed by a 2 year ramp to 25ktpa. When combined with Stage 1 total capacity will be 42.5ktpa.
• Mid 2024 - Sal De Vida Stage 1 production targeted to begin and ramp to 15ktpa . SDV Stage 2&3 combined will begin about 2025 and ramp to an additional 30ktpa. Total combined when completed will be 45ktpa.
• ?2025 - James Bay production targeted to start.

You can read the latest investor presentation here . You can read the latest Trend Investing Allkem article here .

AMG Advanced Metallurgical Group NV [NA:AMG] [GR:ADG] ( OTCPK:AMVMF )

On February 22, AMG Advanced Metallurgical Group N.V., announced :

AMG's low-cost lithium operations drive AMG to record-setting full year earnings.....Dr. Heinz Schimmelbusch, Chairman of the Management Board and CEO, said, "AMG's full year 2022 EBITDA, revenue, gross profit, operating cash flows, return on capital employed, and net income were the highest in the company's history by significant margins. This result is due to the AMG Clean Energy Materials segment, specifically AMG Lithium and its Brazil operation with an EBITDA contribution of $215 million, or 63% of the total EBITDA for the year. Moreover, AMG exceeded $100 million of EBITDA for the second straight quarter. EBITDA for the fourth quarter of 2022 was $104 million compared to $44 million in the fourth quarter of 2021, an increase of $60 million, or 137%.....AMG reaffirms its guidance for the full year 2023 to exceed $400 million EBITDA.

On March 16, AMG Advanced Metallurgical Group N.V., announced : "AMG Publishes 2022 Annual Report."

On March 22, AMG Advanced Metallurgical Group N.V., announced :

AMG Advanced Metallurgical Group N.V. announces 25% shareholding in Zinnwald Lithium Plc......The shares will be subscribed for at a 10% premium to the 20-day Volume Weighted Average Price ("VWAP") as of the close of market on March 20, 2023, that is, a price of 10.41 pence per share. Upon admission of the newly issued ordinary shares, expected on March 29, AMG will become a 25% shareholder of Zinnwald.

On March 23, AMG Advanced Metallurgical Group N.V., announced :

AMG Advanced Metallurgical Group N.V. announces finalization of 25% shareholding in Zinnwald Lithium Plc.....

Upcoming catalysts:

• H2, 2023 - Stage 2 production at Mibra Lithium-Tantalum mine (additional 40ktpa) forecast to begin, bringing total production capacity to 130ktpa.
• Q4, 2023 - Lithium hydroxide facility in Bitterfeld-Wolfen Germany to be commissioned. First module to be 20,000tpa LiOH.
• 2025-2028 - German LiOH facility expansion plan with Modules 2-5 (100,00tpa LiOH).

You can view the latest company presentation here or the Trend Investing article here .

Sayona Mining [ASX:SYA] ( SYAXF )

On February 27, Sayona Mining announced : "New NAL milestone with successful process plant start up."

On March 7, Sayona Mining announced : "C$50m raising to advance Quebec Lithium Projects." Highlights include:

• "A$54.9 million flow?through?shares ((FTS)) raising to advance Sayona's Québec lithium projects.
• FTS to be placed at A$0.315 per share, representing a 34% premium to Sayona's last closing price and a 41% premium to the 10 day VWAP.
• Funds to facilitate further exploration and resource drilling at the Company's lithium projects in Québec, as Sayona advances leading hard rock lithium resource base in North America."

On March 8, Sayona Mining announced : "First lithium concentrate produced at NAL." Highlights include:

• "First spodumene (lithium) concentrate produced at North American Lithium [NAL] operation in Québec; commissioning proceeding on schedule and within budget.
• Large scale drilling program planned with Jourdan Resources of over 50,000m at NAL and Jourdan's adjacent Vallée Lithium Project (earn?in claims).
• New drilling program one of the largest in Québec in 2023, targeting defining larger resource base capable of supplying more tonnes and enhanced material quality to NAL concentrator."

On March 16, Sayona Mining announced : "1,200 tonnes saleable lithium concentrate produced at NAL." Highlights include:

• "First saleable (commercial grade) spodumene (lithium) concentrate produced at North American Lithium [NAL] operation in Québec, Canada.Approximately 1,200 tonnes produced including SC6 (6% lithium grade), demonstrating ability to produce commercial concentrate in new milestone for NAL restart.
• Sayona on track to become North America's leading hard rock lithium producer, contributing to Québec's electrification drive amid continuing battery/EV investment surge."

On March 16, Sayona Mining announced : "Financial report for the half year ended 31 December 2022."

Upcoming catalysts include:

• 2023 - Spodumene production ramp at NAL (SYA 75%: PLL 25%) operations.

Piedmont Lithium (Nasdaq: 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 50% of the Ghana Lithium Project.

On March 9, Piedmont Lithium announced :

Piedmont Lithium responds to short report.....Piedmont notes that Atlantic has denied the allegations contained in the Short Report and outrightly refutes the allegations of impropriety made by the Short Report.

On March 9, Piedmont Lithium announced :

North American Lithium produces first spodumene concentrate as restart plans advance.....

For further details see:

Lithium Miners News For The Month Of March 2023