PAN GLOBAL INTERSECTS 83 METERS OF 1.74 g/t GOLD, EXPANDING NEW GOLD ZONE AT CÁRMENES PROJECT, SPAIN

Today, SMM battery-grade lithium carbonate spot prices fell sharply from the previous working day. The lithium carbonate 2701 contract opened lower at 123,800 yuan/mt today, briefly rebounded to 124,200 yuan/mt after the open, then came under sustained pressure from bears, drifting lower below the average price line; in the afternoon, losses widened, and in late trading the decline accelerated, hitting a low of 118,800 yuan/mt and closing near the day's low, ultimately settling down 5.69% at 119,000 yuan/mt, with open interest down 5,315 lots. In the spot market, downstream buyers continued dip-buying for stockpiling, while some downstream players that had largely completed pre-holiday stockpiling remained cautious and wait-and-see; upstream lithium chemical plants maintained a strategy of holding prices firm and holding back from selling for spot orders, with some lithium chemical plants executing spot order shipments by increasing long-term contract volumes. Overall, market inquiries and actual transactions remained relatively active.

[Australia's Largest Battery Energy Storage Project Running at Full Capacity] Australia's most powerful battery energy storage project has begun operating at full capacity, adding critical fast-response capability to the power system as aging coal-fired plants are retired and renewable energy generation expands. The New South Wales government said on Monday that the Australian Energy Market Operator has approved the Waratah Super Battery in the state for full operation. The battery has an energy storage capacity of 1,680 megawatt hours and has been in partial operation since August 2025. State Energy Minister Penny Sharpe said in a statement: "As aging coal-fired power plants retire, this project will help ensure electricity supply for households and enterprises while allowing more renewable energy to flow into the grid."