The supply contract negotiated by Tesla with the Australian lithium producer Core Lithium will not be concluded. According to Core Lithium, the deadline for the deal was 26 October 2022, but the contract was not finalised.
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The South Korean battery cell manufacturer SK On has signed a lithium supply contract with the Australian company Lake Resources. In total, the Korean battery manufacturer can purchase 230,000 tonnes of lithium from Lake Resources, which is enough to produce batteries for around 4.9 million electric cars.
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Chinese electric car manufacturer Nio has taken a stake in the Australian lithium company Greenwing Resources. Nio will pay 12 million Australian dollars (currently approx. eight million euros) to Greenwing through its subsidiary Blue Northstar in exchange for around twelve per cent of the company’s shares.
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Ford has signed a binding off-take agreement for lithium with Australian company Liontown Resources. The five-year contract provides for the supply of lithium-spodumene concentrate from the Kathleen Valley project in Western Australia from 2024.
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Tesla has signed another offtake agreement for lithium. Australia-based Liontown Resources says it has signed a five-year agreement with Tesla to supply lithium-spodumene concentrate from its Kathleen Valley project in Western Australia.
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The Serbian government has denied permission for the Jadar project of the British-Australian mining company Rio Tinto. Rio Tinto wanted to build a lithium mine in Serbia as part of the project.
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The Australian-German lithium startup Vulcan Energy Resources has acquired a geothermal power plant in Germany for €31.5Mn ($35.7Mn). Vulcan wants to upgrade the 4.8 MW Insheim plant previously owned by local utility Pfalzwerke to set up a new test facility for low-carbon lithium production.
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Australian mining company European Lithium is in the process of securing two promising lithium deposits in Ukraine, aiming to become the largest lithium supplier in Europe and an essential part of an integrated European battery supply chain.
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The German-Australian lithium producer Vulcan Energy is planning a dual listing on the stock exchanges in Australia and Germany. With the intended inclusion in the Prime Standard of the Frankfurt Stock Exchange, the company wants to become more attractive for European investors.
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The BMW Group has just concluded a supply contract with Ganfeng Lithium based in Jiangxi, China, with a forecast volume of €540M for the supply of lithium hydroxide for battery cells. The lithium will be extracted in Australia with deliveries to start next year.
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The BMW Group is changing its strategy for purchasing raw materials for electric cars. In the case of important materials such as lithium and cobalt, intermediaries are to disappear from the supply chain.
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Australia is growing its lithium mining and Tesla is intent on exploiting that fact. Their latest contract with Kidman Resources will see them supply Tesla with battery material lithium hydroxide for their electric cars for 3 years initially.
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Toyota Tsusho, the trading arm of Toyota, has acquired a 15% share in Australian lithium miner Orocobre. The deal cost Toyota 232m dollars but the investment is to secure exclusive lithium supply for its future EV batteries.
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