Last Week (12.29-1.2) Overseas Lithium Highlights [SMM New Energy Overseas Weekly Highlights]

[Chile's Codelco and SQM Lithium Joint Venture Holds Board Meeting to Commence Operations]

Chilean miner Codelco and SQM's newly established lithium business joint venture officially commenced operations this Monday (by holding a board meeting). NovaAndino Litio was established after an agreement signed in May 2024 was approved; the agreement is valid until 2060. This move allows the Chilean government to strengthen its control over SQM's operations in the Atacama Salt Flat. Under the agreement model, the Chilean government, which holds Codelco, will receive up to 70% of the operating profit related to new production from 2025 to 2030. Starting in 2031, this proportion will increase to a maximum of 85%, including lease fees paid to the national development agency, taxes paid to the Ministry of Finance, and Codelco's profits.

The plan includes adopting new technologies and improving process flows, such as reducing net brine extraction. The chairman of the company's board will be Maximo Pacheco, Chairman of Codelco's Board of Directors, and the vice chairman will be Ricardo Ramos, CEO of SQM. The remaining members include two other members from Codelco's board and two members from SQM. The company's CEO will be Carlos Diaz, who previously headed SQM's lithium business, and the CFO will be Eduardo Foix.

Source: mining.com

[CNGR: Secured Supply of 500-600 Million WMT of Nickel Ore Resources, Controls Over 10 Million MT of Lithium Carbonate Resources]

On December 30, CNGR released a record of investor relations activities. Currently, the company has secured the supply of 500-600 million wmt of nickel ore resources through investments, equity participation, long-term cooperation agreements, and offtake agreements, and has established four nickel raw material industrial bases in Indonesia. Additionally, the company has deployed a capacity of 200,000 mt of iron phosphate and 50,000 mt of LFP in Kaiyang, Guizhou. Regarding resource layout: for phosphorus resources, the company controls high-quality phosphate ore resources in Kaiyang, Guizhou, with phosphate ore resources amounting to 98.44 million mt and an average grade of 25%; the planned annual mining volume is 2.8 million mt, and construction is expected to commence soon. For lithium resources, the company accurately acquired two salt lake lithium mines in Argentina at low cost during the bottom of the industry cycle, with advantageous acquisition costs, controlling over 10 million mt of lithium carbonate resources. Furthermore, for iron resource synergy, the high-grade nickel matte by-produced from the smelting production lines in Indonesia contains iron, which can be used for LFP production, achieving resource synergy.

Source: CLS

[Chariot Resources Signs Memorandum of Understanding to Supply 200,000 MT of Nigerian Lithium Ore Annually to China]

Chariot Resources has signed a non-binding memorandum of understanding with Shanghai GEM Co., Ltd., a leading Chinese battery materials producer, to explore cooperation regarding its potential lithium ore asset portfolio in Nigeria. The memorandum specifies the selection of one project from Chariot Resources' four lithium mine projects in Nigeria to supply up to 200,000 mt of spodumene concentrates (the primary ore for lithium) annually. It also includes options for development financing, credit facilities, and prepayments for offtake, aimed at accelerating project exploration and capacity deployment. The two parties will also assess the feasibility of establishing lithium ore processing facilities in Nigeria to enable the local purification of raw ore into concentrates. The project is expected to incorporate multiple sustainable operation solutions, such as the use of electric mining equipment and the construction of a PV+ESS microgrid to power the mining area.

Shanghai G-Power operates multiple production sites in China, specializing in battery-grade materials like lithium carbonate, and can provide substantial technical expertise and mature supply chain resources for this collaboration. Its core customers include Seoul-based battery manufacturer LG Energy Solution—which holds a 4.02% stake in Shanghai G-Power. Other customers of the company span globally leading lithium-ion battery manufacturers for EVs and ESSs, including CATL, as well as international enterprises such as BMW and Samsung. Key offtake terms outlined in the memorandum plan for initial direct shipping of ore (DSO) to the Sagamu consolidation point in Nigeria, with a gradual transition to long-term priority supply of spodumene concentrates. Pricing will be benchmarked against international reference prices for lithium oxide content ranging from 5.5% to 6.0%. Any subsequent binding agreements are subject to further negotiations, due diligence, and Chariot Resources' completion of the acquisition of mineral assets in Nigeria. According to Chariot Resources' announcement on the Australian Securities Exchange on December 3, 2025, the company has reached amended terms to the share purchase agreement with Continental Lithium, strengthening exclusivity protections, refining conditions precedent (including the full transfer of relevant mining licenses to the joint venture C&C Mining), and extending the agreement deadline to May 5, 2026. To facilitate the license transfer and transaction completion process, Chariot Resources has provided a convertible loan of $379,195 (equivalent to A$566,584) to the counterparty, which is guaranteed by Continental Lithium. The two parties aim to complete the asset acquisition in Q1 2026. The memorandum of understanding is non-exclusive initially but will trigger a 90-day exclusive negotiation period after G-Power selects a preferred cooperation project. The agreement may be terminated with 30 days' prior notice or will automatically expire upon the execution of a formal agreement.

This strategic collaboration underscores Nigeria's emerging role in the global lithium supply chain, effectively linking Chariot Resources' high-grade, shallow-buried pegmatite lithium mine projects in Funlo, Igana, Saki, and Gubub with the substantial demand from China's downstream EV battery market. Although this cooperation is currently non-binding and depends on the finalization of the mineral asset acquisition, the partnership is expected to provide critical funding support and stable offtake guarantees for the project, accelerating the lithium mine development process. Chariot Resources continues to advance its "dual-track strategy" in Nigeria: on one hand, actively pursuing early returns from small-scale mining, and on the other hand, steadily expanding production to achieve scaled operations, complementing its core lithium mine assets in the US. With the asset acquisition progressing orderly and the newly signed memorandum of understanding injecting development momentum, 2026 has become a pivotal year for Chariot Resources to expand its lithium mine footprint in Africa.

Source: https://thewest.com

[Super Volcano Discovery Reveals Disruptive Lithium Mine, Poised to Reshape Tech Industry Landscape]

Researchers have discovered astonishingly rich lithium clay ore layers within the McDermitt Caldera, which straddles the border between the US states of Nevada and Oregon. Preliminary estimates indicate that the lithium deposit discovered within this super volcano contains lithium-bearing material reserves ranging from 20 million to 40 million mt, placing it among the world's known large lithium mines. If commercial development validates these reserve figures, the lithium mine could be valued as high as $1.5 trillion. More importantly, this deposit is expected to reshape the US lithium resource supply chain and enterprises' long-term business planning.

Profound Impact on Battery Supply and the Technology Sector:If the McDermitt Caldera lithium mine achieves full-scale commercial operation, it could bring breakthrough changes to the lithium resource supply for the technology sector. Enterprises involved in EV manufacturing, battery production, renewable energy, and the electronics industry will all benefit from more stable domestic lithium resource supply. Currently, the Thacker Pass lithium mine project within the caldera is under construction and is expected to commence production by the end of 2027. Even if your enterprise is not directly involved in lithium ore production, declining battery costs can help reduce operational expenses, improve product profit margins, and open market opportunities for new services based on ESS technology or EV fleets.

Practical Recommendations for Seizing the Super Volcano Mineral Resource Opportunity:Although this lithium discovery is still in its early stages, enterprises can take the following actions to gain a first-mover advantage: closely monitor supply chain fluctuations caused by lithium resource and battery price volatility; diversify supplier channels, establish cooperative relationships with US domestic lithium miners, and sign long-term contracts to secure more favorable purchase prices; track relevant policy developments, such as subsidies, tax credits, and loan support linked to domestic resource procurement; emphasize sustainable marketing, highlighting that the lithium resources used are sourced from the US and extracted in a compliant and responsible manner, thereby enhancing brand reputation. Of course, not all major mineral discoveries ultimately achieve commercial success. Factors such as delays in the approval process, opposition from local communities, and technical challenges in extraction can all slow down project progress.

Macro Perspective: Implications of This Discovery for US Resource Strategy:Beyond the lithium resources themselves, this discovery further underscores the immense development potential of supervolcano mineral resources within the United States. This trend also confirms the US is accelerating the push for the reshoring of critical materials and focusing on securing its domestic energy supply. The lithium ore in this supervolcano is expected to become a crucial cornerstone for the future development of the US technology industry and will also build a genuine competitive advantage for enterprises that positioned themselves early. Although it will take several more years to verify the reserves and achieve commercial production at the McDermitt Caldera lithium mine, and whether its actual value can meet market expectations remains to be seen, it has already compelled numerous enterprises to re-evaluate their sources of lithium ore supply.

Source: https://uncommonsolutions.com