This Week (11.24-11.28) Overseas Lithium Highlights [SMM New Energy Overseas Weekly Highlights]

[Q2 Metals Expands Mineralized Body Scale of Quebec Lithium Mine Project Using Space Exploration Technology]

Q2 Metals recently announced that its Cisco lithium mine project in Quebec has discovered multiple thick, highly mineralized intervals through drilling. This achievement benefited from the real-time multi-physics imaging technology support provided by Fleet Space's ExoSphere platform.

As part of the ongoing 2025 drilling program, Q2 Metals stated that it has identified high-grade mineralized bodies through three drill holes, further confirming the regional development potential of the area as one of Canada's most promising emerging lithium ore districts.

The Cisco lithium mine project is located in the Eeyou Istchee James Bay region, covering an area exceeding 410 square kilometers. The initial exploration target resource is estimated at 215 million to 329 million metric tons, with a lithium oxide (Li₂O) grade ranging between 1% and 1.38%.

The company stated that, with the mineralization of multiple thick pegmatite zones confirmed, the project is expected to enhance the resilience of the North American lithium supply chain.

Drill hole CS25-038 intersected 17 independent mineralized intervals, with the widest being 66.5 meters (1.55% Li₂O grade) and 58.9 meters (1.09% Li₂O grade) respectively. Another drill hole, CS25-039, discovered 12 independent mineralized intervals, including thick, high-grade sections of 108.5 meters (1.62% Li₂O grade), 71 meters (1.84% Li₂O grade), 77.7 meters (1.48% Li₂O grade), and 107.4 meters (1.87% Li₂O grade).

Furthermore, drilling results from hole CS25-036 extended the known mineralized zone of the Cisco project, identifying 9 mineralized intervals. The widest interval reached 272.5 meters (1.61% Li₂O grade), and this mineralized zone remains open at depth and along strike.

The company indicated that a fourth drill rig has been added to support exploration efforts, with the target of completing an initial mineral resource estimate in H1 2026.

Last month, the Cisco project was nominated as a candidate for the "Discovery of the Year Award" by the Quebec Mineral Exploration Association (AEMQ).

Source: mining.com

[Chariot Advances Small-Scale Regulated Mining of Nigerian Lithium Ore Assets]

Perth-based Chariot Resources has signed a binding conditional agreement with local partner Continental Lithium Company to conduct structured small-scale mining operations in four project areas across Oyo and Kwara States, marking a decisive step towards generating early cash flow from its Nigerian lithium ore assets.

The agreement, signed through the joint venture entity C&C Minerals (Chariot holds 66.667%, Continental Lithium holds 33.333%), will become effective after Chariot completes the acquisition of interests in the Nigerian lithium ore assets – a transaction announced to the Australian Securities Exchange in July 2025. Upon completion of the transaction, C&C Minerals will become the holding company of the relevant licenses.

The aforementioned four asset packages include eight exploration licenses and two small-scale mining leases, covering four major mining area clusters: Fengluo, Gubugu, Igana, and Saki, with a total area of 254 square kilometers. Artisanal mining activities are prevalent in this region. Since 2021, local miners have been selling high-grade spodumene to Chinese buyers, demonstrating the grade advantage of the lithium ore and market demand in the area.

According to the cooperation structure stipulated in the agreement, Continental Lithium will leverage its local operational foundation established since 2018 to be responsible for on-site mining and logistics management; Chariot will lead project financing, compliance supervision, and advance negotiations for offtake agreements with multiple international commodity buyers.

The project will be developed in three phases, aiming to transition artisanal mining activities into standardized small-scale mining operations:

The first phase focuses on detailed mapping, sampling, and selective drilling around existing mining pits, with the goal of delineating localized JORC-compliant resources in priority areas such as Fengluo and Igana;

The second phase will conduct metallurgical testing to determine the optimal beneficiation process (gravity separation, flotation, or a hybrid process) and evaluate potential by-product revenues from tantalum, tin, etc. The test results will support the development of a reliable beneficiation flow sheet and commercial feasibility assessment;

The third phase will comparatively evaluate two processing routes: one involves toll processing at emerging spodumene processing plants in Nigeria, and the other involves setting up modular on-site processing facilities. A comprehensive analysis considering transportation distance, trucking costs, and the initial commissioning timetable will be conducted to ultimately determine the fastest and commercially feasible route to market.

Chariot's management stated that this cooperation positions the company as one of the first listed exploration enterprises with substantial lithium resource reserves in Nigeria. As Nigeria is a region with significant hard-rock lithium potential but underexplored in Africa, this strategic move holds great importance.

Source: https://newsbase.com

[Century Lithium Announces Latest Progress on Angel Island Lithium Mine Project in Nevada]

Bill Willoughby, President and CEO of Century Lithium, stated, "As the Angel Island lithium mine project advances, our team remains focused on completing several key tasks. The project has made progress in multiple areas: the team and consultants have completed and submitted all baseline data required for the Angel Island project operation plan ahead of schedule; the update of the 2024 feasibility study report is also steadily progressing. We believe that the Angel Island Project will create high-quality U.S. jobs, support the domestic critical minerals supply chain, and help Century Lithium become a U.S.-based producer of battery-grade lithium carbonate.

Angel Island Project Overview

The Angel Island Lithium Mine is one of the largest known sedimentary lithium resources in the United States, with superior geological, geographical, and logistical conditions. The company is advancing an integrated, end-to-end development strategy aimed at converting lithium-bearing claystone into finished lithium carbonate. A key advantage of the project is Century Lithium’s patented chlor-alkali extraction technology—which converts solid or brine-form sodium chloride into key reagents required for the entire production process. This closed-loop system offers sustainability benefits, reducing reliance on external chemical raw material supplies while delivering significant cost savings and environmental benefits.

Permitting Progress

All baseline data studies and environmental studies supporting the Angel Island Project have been completed and accepted by the U.S. Bureau of Land Management. The company is finalizing the Plan of Operations (PoO), which will define the mine layout, processing plant configuration, water and water management systems, waste rock and tailings disposal plans, transportation infrastructure, and environmental mitigation measures. Upon submission of the Plan of Operations, the federal permitting process under the National Environmental Policy Act will commence. Century Lithium continues to advance related work to meet the timeline requirements set by the Federal FAST-41 Dashboard.

Demonstration Plant Relocation

The demonstration plant has been fully dismantled and relocated to the company’s site in Tonopah, Nevada. The 20-acre site, located within the Tonopah Airport, also serves as the Angel Island Project’s field office and previously provided critical support for bulk sample preparation and processing during the Amargosa Valley pilot plant program. Century Lithium is currently evaluating further upgrades to the site and facilities to expand R&D capabilities.

Feasibility Study Update

The 2024 update of the Angel Island Project feasibility study is progressing well. Current priorities include optimizing the mining plan and related equipment configuration to improve projected operational efficiency, as well as reducing the land footprint and refining plant design with the goal of lowering estimated operating costs. Key optimization areas include improvements to the fluid management system, direct lithium extraction (DLE) design, and lithium carbonate production process—all adjustments are based on years of development testing results from the demonstration plant. The power infrastructure plan is connected to NV Energy's adjacent Greenlink West transmission project, an under-construction 525 kV transmission system linking Las Vegas, Nevada, with the Fort Churchill substation near Yerington. The updated feasibility study report still focuses on lithium carbonate as the core end-use product, while also generating additional revenue from excess sodium hydroxide produced through the chlor-alkali process.

Source: https://www.prnewswire.com

[Lithium Price Rebound and Surging Demand Drive SQM's $2.7 Billion Expansion Plan]

Sociedad Química y Minera de Chile (SQM) reported solid performance for the third quarter of 2025, although earnings slightly missed Wall Street expectations—the company's net income per share was $0.62, just $0.02 below analyst forecasts.

Boosted by strong performance in its lithium business, quarterly revenue reached $1.17 billion. Record lithium sales were the main driver of revenue growth, highlighting the rapid recovery of global battery market demand.

Lithium Business Momentum Drives SQM's Strong Performance in 2025

Gross profit increased 23.1% YoY, reaching $345.8 million, marking a strong rebound after low lithium prices earlier in the cycle. Reuters noted that SQM benefited from rising lithium prices, supported by recovering electric vehicle (EV) demand and the global expansion of large-scale ESS projects. Given these strengthening trends, SQM raised its forecast for global lithium demand growth in 2025 from around 17% to over 20%.

Looking ahead, SQM maintains optimistic market expectations. The company plans to invest $2.7 billion over the next three years to expand lithium capacity in Chile. SQM expects lithium prices to continue rising in the fourth quarter of 2025, driven by accelerating demand for EVs and energy storage systems.

Optimistic Outlook in Chinese Market Triggers Industry-Wide Rally

Although SQM delivered strong results, global lithium market sentiment warmed further after China's Ganfeng Lithium issued a highly optimistic forecast. According to Bloomberg, Ganfeng Lithium's Chairman Li Liangbin projected lithium demand to grow 30% next year. His comments promptly triggered a sharp rise in lithium prices and mining stocks.

The most active lithium carbonate futures contract on the GFEX surged by the 9% daily limit, hitting 95,200 yuan per mt (approximately $13,400). Investors reacted quickly, pushing shares of major producers higher: SQM's stock rose as much as 14%, while Albemarle's shares climbed about 9.3% amid the rally.

This price surge provided strong support for SQM's quarterly financial performance. The company's Q3 net profit reached $178.4 million, up 36% YoY from $131.4 million in the same period last year; revenue increased 8.9% YoY, rising from $1.08 billion to $1.17 billion. As investor confidence grew, SQM's US-listed shares hit $64.60, reaching their highest level in over two years.

Lithium Market Enters Recovery Track

Despite the strong performance, the lithium industry continues to navigate a significantly fluctuating market environment. After lithium prices hit historic highs in 2022, they pulled back sharply as supply growth outpaced demand, putting pressure on the profit margins of major producers like SQM and Albemarle.

However, a noticeable turnaround occurred in H2 2025. SQM stated that lithium demand during the July-September period exceeded expectations.

CEO Ricardo Ramos told analysts that, despite ongoing market volatility, SQM holds a "cautiously optimistic" view for the coming months. He emphasized that market fundamentals remain strong – demand growth is coming not only from EVs but also from ESS, which has become a key component of renewable energy power grids.

Ahead of Codelco Cooperation Agreement Finalization, SQM Anticipates Demand Surge

Furthermore, the mining giant expects global lithium demand to exceed 1.5 million mt in 2025, a 25% increase from 2024. Pablo Hernandez, Vice President of Strategy and Development for SQM's Lithium Business in Chile, said lithium demand could climb further to 1.7 million mt by 2026.

However, he noted that despite stronger demand signals, the company remains cautious when estimating next year's growth.

SQM is also preparing to finalize its long-awaited cooperation agreement with Chilean state-owned mining company Codelco. The two parties will establish a joint venture to expand lithium extraction operations at the Atacama salt flat. Chinese market regulators have already approved the transaction; the final step requires approval from Chile's Comptroller General. CEO Ramos expressed confidence that the deal will be completed by year-end.

JP Morgan Raises Long-Term Lithium Price Expectations

Given sustained strong demand and rising mining costs, JP Morgan has raised its long-term lithium price expectations. Earlier this year, the bank had lowered its long-term spodumene price forecast to $1,100/mt, but after reassessing global trends, it now considers that figure too low and has raised it to $1,300/mt.

Key Conclusions

Driven by the robust growth of the EV and ESS industries, the lithium market recovered rapidly, from which SQM benefited. Rising lithium prices, improved demand, and high investor enthusiasm collectively boosted the company's performance. Despite ongoing market volatility, SQM set sales records, established a solid financial foundation, and, supported by supply discipline and stronger pricing prospects, defined a clearer long-term strategy, laying a solid foundation for development in 2026.

Source: https://carboncredits.com

[Panasonic Energy to Supply Lithium-Ion Batteries to Zoox, Marking a Milestone in Its Entry into the Rapidly Growing Autonomous Ride-Hailing Market]

November 25, 2025 - Panasonic Energy Co., Ltd., part of the Panasonic Group, announced today that it signed an agreement with Zoox, an autonomous ride-hailing company under Amazon, to supply cylindrical lithium-ion batteries for the deployment of Zoox's autonomous ride-hailing fleet. Under this multi-year agreement, Panasonic Energy will begin deliveries of the latest 2170-type batteries in early 2026 to support Zoox's expanding autonomous ride-hailing service and operational needs.

Zoox created a customized autonomous ride-hailing vehicle to provide global users with better mobility options. The company recently opened its first mass-production plant for autonomous ride-hailing vehicles in Hayward, California, achieving scaled vehicle production; it has also launched an autonomous ride-hailing service in Las Vegas, becoming the world's first company to offer a fully driverless ride-hailing service using customized autonomous vehicles.

Panasonic Energy's 2170-type batteries offer exceptional energy density, safety, and reliability, which are crucial for Zoox's high-performance autonomous ride-hailing vehicles. This cylindrical battery has been proven in several successful EV products, with unmatched safety. As of September 2025, Panasonic Energy had supplied approximately 20 billion lithium-ion EV batteries globally, enough for 4 million EVs, without any vehicle recalls due to battery-related issues, demonstrating the strong reputation of its high-grade, highly reliable battery products. Initial supply of this advanced battery will start from Japan, with plans to expand soon to Panasonic Energy's plant in Kansas, US.

According to a recent market report released by Grand View Research, the US autonomous ride-hailing market size was approximately $450 million in 2024. Driven by forward-looking urban policies in cities such as San Francisco, Los Angeles, Austin, and Miami, the market is expected to achieve a compound annual growth rate (CAGR) of over 70% by 2030. In hubs such as Phoenix, San Francisco, and Las Vegas, the adoption of on-demand autonomous ride-hailing fleets continues to gain momentum, with market penetration rates accelerating. Globally, this market is projected to exceed $40-50 billion by 2030, with North America and the Asia-Pacific region emerging as core leading markets. Panasonic Energy aims to seize emerging opportunities in this dynamic market to accelerate its own business growth.

Kazuo Tadanobu, CEO of Panasonic Energy, stated: "Zoox is truly unique. This collaboration is a critical step for Panasonic Energy, providing us with the opportunity to support next-generation mobility innovation. Zoox is reshaping urban transportation, and Panasonic Energy will power these autonomous ride-hailing vehicles as we collectively advance toward a safer, more sustainable, and more connected future."

Bruce Baumgartner, Vice President of Supply Chain, Quality, and Reliability at Zoox, said: "This is an incredibly exciting time for Zoox. We are thrilled to welcome Panasonic Energy as a new partner in our joint effort to redefine urban mobility. Their commitment to innovation and quality aligns closely with our mission to create safer, cleaner, and more enjoyable urban transportation. As we continue to scale our autonomous ride-hailing services and operations, we take great pride in collaborating with Panasonic Energy."

Source: https://news.panasonic.com/global/press/en251125-2