Samsung SDI Signs $1.5T ESS Battery Deal with US Firm, Supply to Run Until 2029

On June 11, Lithium Ionic announced that it has placed the first long-lead equipment order for its Bandeira lithium project, located in the Lithium Valley region of Minas Gerais, Brazil. The order covers a 138/13.8 kV main power transformer for the project’s internal substation. The equipment will be supplied by Brazilian manufacturer Blutrafos. According to the company, the transformer is a critical-path item that must be secured in advance of construction. The order marks the formal commencement of long-lead equipment procurement and indicates that the Bandeira project is gradually progressing from the engineering phase toward construction readiness. Lithium Ionic stated that overall engineering progress at Bandeira has reached approximately 65%. To support detailed engineering and construction planning, the company has completed 1,352 metres of geotechnical drilling across the project area. The capital expenditure estimate is also being updated based on the latest engineering work, while additional long-lead equipment packages are expected to move forward through tendering and procurement. The Bandeira project is 100% owned by Lithium Ionic and is located in Minas Gerais, one of Brazil’s key lithium-producing regions.

Raw material side, lithium carbonate prices edged up this week, nickel sulphate prices fluctuated, and cobalt sulphate prices continued to fall.