This Week (9.22-9.26) Overseas Lithium News [SMM New Energy Overseas Weekly News]

[Nevada Lithium's Stock Soars on Collaboration with South Korea's Hydro for Critical Mineral Extraction]

Nevada Lithium Resources' stock surged on Wednesday after the company disclosed a collaboration with South Korea's Hydro Lithium to extract critical minerals from its flagship Bonnie Claire project.

In its press release, Nevada Lithium stated that the two parties signed a letter of intent on September 7, involving the use of proprietary extraction technology developed by Hydro Lithium CEO Dr. Uong Chon to recover valuable elements, including those on the US critical minerals list, from the Bonnie Claire mineral deposit.

The letter of intent also covers a framework for the two parties to cooperate on extracting critical minerals from other mineral deposits in North America.

Hydro Lithium currently produces battery-grade lithium hydroxide and lithium carbonate at its Geumsan-gun plant, with an annual capacity of 3,600 mt.

Nevada Lithium CEO Stephen Rentschler welcomed the collaboration, highlighting Dr. Chon's prior involvement in developing PosLX, a lithium extraction technology currently used by POSCO. He added that at Hydro, Dr. Chon continues to achieve technological advancements by developing the CULH (battery-grade lithium chemicals production) and CULX (lithium extraction from natural resources) processes. "The US has numerous potential sources of critical minerals, including lithium, many of which may face challenges for economically viable extraction. Our proprietary CULX technology addresses these challenges," Dr. Chon said in a statement.

Following the news, Nevada Lithium's stock rose as much as 23% by midday, boosting the market capitalization of the Vancouver-based lithium developer to C$46.8 million ($33.7 million).

Source: mining.com

[Rumors of Trump Stake Boost Lithium Americas Stock by 95%]

Lithium Americas' stock nearly doubled on Wednesday afternoon in New York, surging over 95% intraday, after reports suggested the US government might seek an equity stake in the Canada-listed lithium miner.

The company confirmed it is in discussions with the US Department of Energy (DOE) and its partner General Motors regarding the terms for drawing the first $2.3 billion loan, which will support the construction of its Thacker Pass lithium project in Nevada.

Reportedly, the Trump administration is considering adjusting the terms of this record loan in exchange for up to a 10% equity stake. The loan was finalised in 2024.

The Thacker Pass project, approved towards the end of Trump's first presidential term, holds the largest known lithium ore reserves in North America. Phase 1 is expected to produce 10,000 mt annually of battery-grade lithium carbonate, sufficient for approximately 800,000 EVs, with a target to commence production by the end of 2027.

Full-scale production is scheduled for 2028, at which point the mine will become the largest source of lithium in the Western Hemisphere. Its output will far exceed that of larger peer Albemarle's Silver Peak project in Nevada, which produces approximately 5,000 mt of lithium carbonate annually. The project is crucial for General Motors, which holds a 38% stake and saw its shares rise 2.5% in early New York trading. Lithium Americas stated that funding from the Department of Energy will cover the majority of the costs for the processing plant near the mine.

Trump administration officials also explored taking equity stakes in MP Materials and Intel to strengthen domestic manufacturing and reduce reliance on foreign supply chains.

Lithium Americas stock last traded at $6.04, up 97% from Tuesday's closing price, giving the company a market capitalization of $1.45 billion.

Source: mining.com

[Australia's Anson Signs Lithium Supply Agreement with LG Energy Solution]

Australian miner Anson Resources signed a battery-grade lithium carbonate offtake agreement with South Korea's LG Energy Solution on Wednesday.

Under the agreement, the South Korean battery manufacturer will procure up to 4,000 dmt per year of battery-grade lithium carbonate from Anson's Paradox Basin project in southern Utah, US, starting in 2028. The initial term of the agreement is five years, with an option to extend for another five years.

This supply volume represents nearly 40% of the project's Phase I annual capacity (approximately 10,000 mt) and is expected to support Anson's debt financing for the final investment decision stage.

Anson CEO Bruce Richardson said, "This final offtake agreement establishes the foundation for a long-term partnership, and we are proud to supply LG Energy Solution with low-cost US lithium produced from the Paradox Basin."

As of 00:45 GMT, Anson's share price surged as much as 24.7%, marking its largest intraday gain in over two months, while the benchmark ASX 200 index fell 0.6%.

Due to EV demand growth falling short of expectations, the price of lithium, a key material for lithium batteries, has been in a year-long slump. From a broader perspective, this deal indicates that battery technology remains a critical component.

Source: mining.com

[DRC President: Will Not 'Auction' Mineral Resources to the US]

Democratic Republic of the Congo President Felix Tshisekedi said on Monday that despite appreciating US President Trump's mediation efforts, the peace agreement signed with Rwanda in June under US mediation has not quelled the conflict in eastern Congo.

On June 27, facilitated by the US, the DRC and Rwanda reached a peace agreement aimed at ending what Washington and UN experts describe as Kigali's support for the M23 rebel group. The Trump administration expressed its desire to end the conflict that had claimed thousands of lives this year and attract billions of dollars in Western investment to the region rich in tantalum, gold, cobalt, copper, and lithium. The U.S. set a partial agreement implementation deadline for the end of this month.

Tshisekedi told reporters in New York that he supported U.S. mediation but "that does not mean we will auction off our mineral resources."

He said, "As part of the partnership, we will focus on developing the mining sector, building value chains, and constructing infrastructure, with particular emphasis on the energy sector."

Tshisekedi revealed that Congo had already signed a strategic partnership with China, "Today we are negotiating a similar partnership with the U.S., hoping to reach an agreement eventually," but he did not provide details of the cooperation.

Congolese officials stated that the success of the agreement depended on whether Rwanda ceased its support for M23. Kinshasa accused M23 of committing atrocities in the east, while M23 denied attacking civilians, and Rwanda has long denied aiding M23, stating that its troops' actions were in self-defense.

Source: mining.com