[Nigerian Foreign-Owned Lithium Mine Seized, Case Value Exceeds 8 Billion]
Recently, the Mines Enforcement Team of the Nigerian Security and Civil Defence Corps (NSCDC) sealed an illegal lithium ore mining site located in Libata, Ngaski Local Government Area, Kebbi State. The enforcement team accused the enterprise of violating mining regulations and illegally profiting over 1.43 trillion naira (approximately 8.447 billion yuan) within two years, suspected of defrauding the federal government.
This operation was conducted under the authorization of the Federal High Court, and the company involved is under investigation for large-scale mineral theft and multiple violations. It is reported that the company is suspected of colluding with foreign personnel, illegally mining lithium ore valued at over 1.43 trillion naira without obtaining legal permits.
Regulatory authorities pointed out that the enterprise seriously exceeded the scope stipulated by its Small Scale Mining License (SSML) and Exploration License, unlawfully entering plots with legal mining rights owned by others, constituting illegal occupation. This behavior violates Section 46(2) of the Minerals and Mining Act, 2007 and Section 48 of the Nigerian Mining Regulations, 2011, causing significant financial losses to the state and undermining the legal protection of mineral resources.
Joint law enforcement personnel inspected the mine site and have officially shut down the illegal mining point. Although the investigating authority repeatedly summoned the director of "Three Crown Mines," the other party refused to attend citing "inconvenience," which the enforcement team expressed strong dissatisfaction with, warning against using excuses to delay the investigation.
Source: SMM New Energy
[EnergyX Expands US Smackover Acreage to Reduce Lithium Costs]
This month, after General Motors-backed lithium technology startup EnergyX acquired an additional 35,000 acres in the Smackover region for $26 million in cash and stock, the company's holdings in the area increased to 47,500 acres. Smackover is an underground geological formation rich in lithium brine, stretching from Florida to Texas. Smackover may contain over 4 million mt of lithium, sufficient for millions of EVs and other electronic devices.
EnergyX's latest acquisition places it among the significant enterprises in the region. Its land holdings are surrounded by 125,000 net acres controlled by Chevron and 120,000 gross acres held by Exxon.
The private company has been growing rapidly. Its recent moves included obtaining a 90,000-acre mining concession in Chile in 2023 and acquiring a 40,000-square-foot production facility in Austin, Texas, in 2024.
These acquisitions are also crucial for the company, which made headlines in 2022 when it, along with Argentina's energy company Tecpetrol, had its qualification to mine lithium in Bolivia revoked due to technical issues.
Bolivia had attempted to partner with foreign companies to develop its abundant lithium resources. This Latin American country holds the world's largest lithium resources but has struggled for decades to achieve commercial mining.
Source: mining.com
[POSCO Bids $62 Million Cash for Assets of Argentina's Lithium South]
Lithium South stated that it has received a $62 million cash offer from South Korea's POSCO for its portfolio of exploration assets in the Hombre Muerto salt lake in Argentina.
The company's primary asset is the 100%-owned Hombre Muerto North (HMN) project in Salta Province, comprising nine mining concessions totaling 56.9 square kilometers. It also holds purchase options for two additional nearby mining blocks, with a total area of 55.5 square kilometers.
A new preliminary economic assessment for HMN last year indicated a post-tax net present value (at an 8% discount rate) of $934 million, an internal rate of return of 31.6%, a mine life of 25 years, and a payback period of 2.5 years.
Annual lithium carbonate production is projected at 15,600 mt, an estimate based on established solar evaporation technology and proven resources of 1.58 million mt of LCE from the Alba Sabrina, Natalia Maria, and Tramo mining concessions. Since the release of the preliminary economic assessment, Lithium South has been seeking further exploration of the HMN mineral resources, aiming to expand this resource base and conduct a feasibility study. Just last week, the company announced plans to develop a comprehensive development plan covering every stage of the feasibility process, from construction to commissioning, targeting submission of the report by Q1 2026.
Following the project sale announcement, Lithium South's stock price surged by 28%, bringing the company's market capitalization to C$35.3 million.
Source: mining.com
[Lithium Miners Issue Warning as Weak EV Demand Intensifies Pressure]
The global lithium market has been volatile for years, and the situation is now further complicated by lower-than-expected growth in EV demand, coupled with the withdrawal of regulatory support by US President Donald Trump. Prices for this battery metal hit record highs in 2022 but subsequently fell by nearly 90% due to a severe supply surplus.
Liontown said on Tuesday that a portion of lithium originally intended for Ford was resold to a Chinese buyer, indicating that challenges in the US are rippling through the entire supply chain. This US automaker's EV sales declined significantly in Q2, as the company is undertaking a comprehensive strategic overhaul.
"The reality is, the EV market landscape has materially changed over the past few years, and we see an opportunity to represent Ford in selling these volumes to another new customer who needs the product," Liontown Chief Commercial Officer Grant Donald told investors on Tuesday.
Source: mining.com
[Spark Company Discovers New Lithium-Bearing Pegmatite Zone in Brazil's Lithium Valley]
Reported by Eugene Hodgson, Spark Company in Vancouver, British Columbia, is rapidly advancing its flagship Arapaima project located in Brazil's Lithium Valley, having identified potential lithium mineralization. Continued field investigations have revealed extensively weathered pegmatite veins (containing residual quartz-feldspar-tourmaline) – the primary geological host for lithium in the region.
Over the past five weeks, more than 90 samples (such as surface rock chips and stream sediments) were collected from areas containing tourmaline-rich quartz gravels and pegmatite veins. This data will assist Spark Company in Brazil's Lithium Valley in further refining priority drilling targets within the already extensive lithium pegmatite deposit.
"The geological characteristics discovered at Arapaima are highly compelling," noted Jon Hill, Vice President of Exploration at Spark Company. "We have mapped multiple pegmatite zones at the surface, identified key indicator minerals, and observed structural features consistent with other known lithium-bearing systems in Brazil's Lithium Valley. The scale and consistency of these indicators suggest the potential for a relatively mature pegmatite system. The upcoming assay results will be crucial for advancing our drilling targets."
Source: Junior of mining
