Vulcan Begins VULSORB Production for 24,000 mt/yr Lionheart Lithium Project in Germany, Targets 2028 Launch

Anson Resources has signed an MoU with metals trader Wogen Resources and financing adviser Xcelsior Capital Advisors to evaluate a long-term offtake of 2,000-6,000 mtpa of lithium carbonate equivalent (LCE) from its Green River lithium project in Utah, US. The proposed initial offtake term is five years, with scope for larger volumes and a longer term. Xcelsior may evaluate investment or financing support for the project, including debt, product prepayment and strategic investment. Anson expects Green River to start production in 2029/30, subject to development, financing, permitting, construction and commissioning. Under the MoU, the parties will review technical information and representative product samples, conduct lithium carbonate product testing and qualification, evaluate logistics, infrastructure and delivered-product costs, assess financing structures, and negotiate one or more definitive agreements.

On the 21st of September, Argosy Minerals completed crystallization test work for its Rincon Lithium Project in Salta Province, Argentina, which has a planned capacity of 12,000 mtpa. The tests showed the process is designed to achieve a lithium chloride yield above 99%. An independent European technology provider ran laboratory scale continuous, semi continuous and discontinuous tests using lithium brine from Argosy's earlier solvent extraction pilot campaign. The tests covered evaporation crystallization and solid liquid separation, with a focus on impurity rejection and product specification. Product quality met proposed specification, and the process route of pre concentration, sodium hydroxide treatment, solid-liquid separation and evaporation crystallization can produce specification-grade anhydrous lithium chloride. The technology provider will use the data to complete the feasibility basic engineering package for the crystallization unit, scheduled for October 2026. Finalizing the Definitive Feasibility Study (DFS) still requires each major unit operation to be validated through laboratory and pilot scale testing, so Rincon's planned 12,000 mtpa capacity has not yet moved to the construction stage. Argosy holds a 77.5% interest in Rincon and 100% of the Tonopah Lithium Project in Nevada, US.

Today, SMM battery-grade lithium carbonate spot prices continued to edge up slightly from the previous trading day. The lithium carbonate 2701 contract opened lower at 126,000 yuan/mt today, briefly dipping to 125,400 yuan/mt after the open. Subsequently, bulls continued to enter the market, and prices drifted higher along the average price line. Around midday, bulls strengthened again, and prices quickly shot up to an intraday high of 133,700 yuan/mt. In the afternoon, prices moved sideways at high levels, fluctuating around 132,000 yuan/mt in a tug-of-war. Prices pulled back slightly near the close, eventually settling up 3.14% at 132,500 yuan/mt, with open interest increasing by 717 lots. In the spot market, downstream buyers continued to buy the dip to stockpile. As prices drifted higher, some material plants adopted a cautious wait-and-see stance, and purchase willingness weakened slightly. Upstream lithium chemical plants continued to hold prices firm and hold back from selling spot orders. Overall, market inquiries and actual transaction pace slowed down.