Last Week (10.20-10.24) Overseas Lithium Highlights [SMM New Energy Overseas Weekly Highlights]

[Lithium Miner Pilbara Says ESS Demand Is Offsetting US EV Market Weakness]

Australian pure lithium producer Pilbara Minerals Ltd. said demand for battery metals from the ESS sector is helping to offset the impact of slowing EV growth in the US.

Pilbara CEO Dale Henderson noted in an interview with Bloomberg Television that the ESS industry is showing "leapfrog growth." Although EV demand in the US has "seen a pullback" due to policy adjustments, the global lithium market outlook remains optimistic.

According to BNEF forecasts, ESS installations are expected to set consecutive annual records through 2035, with a projected surge of 23% in 2025. The agency stated on Tuesday that LFP batteries will continue to dominate the technology roadmap, with China and the US remaining the largest markets.

Meanwhile, US EV demand is gradually shrinking as the Trump administration canceled tax credits and effectively repealed fuel economy standards at the end of last month. General Motors recorded a $1.6 billion charge related to its exit from the EV sector, while Ford plans to reduce lithium procurement volume and delay shipments from Australian producer Liontown Resources.

Affected by a global supply surplus, lithium prices have fallen nearly 90% from their 2022 peak. Over the past few months, lithium prices have experienced significant volatility amid growing supply-side concerns in China. "The lithium market has always been highly volatile since its inception," Henderson said. With the emergence of more efficient spot trading mechanisms and futures and options (which are still in a "very nascent stage"), this volatility is expected to moderate over time.

"Although more hedging tools are emerging, actual hedging opportunities remain limited," Henderson noted.

Pilbara Minerals facilitates price discovery through small spot sales while reserving the majority of its production for medium and long-term offtake agreements. The company, formerly known as Pilbara Minerals, completed a brand upgrade earlier this year.

Source: amg-nv.com

[Kodal Minerals Begins Exporting Lithium Products from the Bougouni Mine]

Kodal Minerals PLC (LSE: KOD) has dispatched the first trucks carrying spodumene concentrates from the Bougouni Mine in southern Mali to the port of San Pedro in the Republic of Côte d'Ivoire, marking the official launch of its export business.

The Bougouni Mine team began production in February and has now shipped 30,000 mt of spodumene concentrates from inventory to Hainan, China.

The entire 45,000 mt inventory will be gradually transferred over the next four to six weeks to ensure subsequent export supply via the port of San Pedro.

CEO Bernard Aylward stated, "This is a major milestone for the Bougouni project. With the first shipment of spodumene concentrates exported (…), the construction of the heavy media separation plant, and the processing of ore from the Ngoualana open-pit mine, we are now able to sustainably manage the export of spodumene concentrates."

Under the offtake agreement, the company expects to achieve its first revenue following the loading of the initial 10,000 mt shipment. Kodal plans to provide further updates as operations progress.

Bougouni is located 170 km south of Bamako, the capital of Mali, in a region with multiple active mines, including Hummingbird Resources' Yanfolila gold mine and B2Gold's Fekola mine.

Source: amg-nv.com

[Appian and World Bank Launch $100 Million Critical Minerals Fund]

UK private equity firm Appian Capital Advisory is partnering with the World Bank's International Finance Corporation to launch a $100 million fund focused on critical minerals, metals, and mining, which will target emerging markets.

According to a statement released on Tuesday, the Washington-based IFC will serve as the anchor investor for the fund, contributing an initial $100 million, while its asset management division will raise additional capital. The fund aims to support "responsible, high-impact" mining projects for commodities critical to economic growth, energy transition, and key digital technologies.

Appian founder and CEO Michael Scherb said in the statement that IFC's commitment "is a strong endorsement of our ability to identify and responsibly develop high-quality assets, which will release long-term value for partners."

"It also underscores the critical role mining can play in driving sustainable economic growth and delivering lasting benefits to local communities, particularly in regions with the most urgent development needs."

Managed by London-based Appian, the fund will target equity, credit, and royalty investments in emerging markets, with a focus on Africa and Latin America. It will finance mineral development projects across all stages, including construction, production, and expansion. This is the first dedicated investment fund focused on the mining sector in emerging markets. Atlantic Nickel

IFC's first investment went to Atlantic Nickel's Santa Rita nickel-copper-cobalt open-pit mine in Bahia, Brazil. As the Santa Rita mine transitions to underground production, its annual output is expected to climb to approximately 10,000 mt of nickel equivalent, with a mine life exceeding 30 years. Atlantic Nickel is controlled by Appian Capital, and the International Finance Corporation will invest on the same terms as other investors.

In a March interview, the head of Appian Capital's base metal business stated that the company is expected to invest $600 million in the underground transformation of the mine by 2030.

In a Tuesday statement, International Finance Corporation Managing Director Makhtar Diop said: "Mineral resources are crucial for building industrial systems, creating jobs, and driving economic growth. Partnering with enterprises like Appian Capital helps channel more private capital into regions most in need of funding, expands access to critical resources, and enables local communities to benefit from the development of their mineral resources."

All investments must comply with the International Finance Corporation's performance standards and environmental, social, and governance guidelines, which meet or exceed international best practices for responsible mining.

This marks the first time the International Finance Corporation has co-established a fund with a private equity investor in the metal mining sector. The International Finance Corporation and Appian Capital have collaborated for a decade, with two joint investments in African rare earth and gold projects leading to the construction and commissioning of mines. Appian, which manages approximately $5 billion in assets, has brought 12 mining projects into production since 2016. According to the private equity firm, this number exceeds the combined total of the five largest international mining companies during the same period.

Source: amg-nv.com

[Bolivia’s New President Brings Cautious Hope to Rekindle Long-Stalled Lithium Mine Dream]

The election of Bolivia’s centrist leader Rodrigo Paz is sparking cautious optimism. After two decades of setbacks under socialist rule, the more market-friendly leader could pave the way for international investment in the country’s vast lithium reserves.

Bolivia holds the world’s largest resources of ultra-light lithium metal for EV batteries, but political opposition and laws mandating state control over the lithium sector have hindered its development and dampened broad investor interest.

Apart from calling for foreign investment that benefits the local Potosí region, Paz has not yet discussed specific policy plans for Bolivia’s 23 million mt of lithium resources.

Diego von Vacano, a Bolivia expert at Texas A&M University, said Paz needs to unveil details within the first few months of his presidency for the global mining community to take him seriously.

He warned that otherwise, investors may perceive it as "business as usual," and Bolivia could once again "miss the boat."

Source: https://www.reuters.com/world/china/bolivias-new-president-rekindles-cautious-hope-long-stalled-lithium-dreams-2025-10-21/