Lithium latest news

  • March 2015

    SQM to lose $7m from Q1 2015 income following tax probe

    31 March 2015

    The result of the investigation into SQM's tax status will hit the company hard, costing it $7m in net income from its first quarter 2015 results. At the end of last year, the group's results were propped up by an extra $13m net income from the sale of mining rights to Antofagasta Minerals, but accusations about payments to politicians have dogged the company in recent months and led to the ousting of its CEO.

  • Tesla CEO tweet keeps market guessing about new product launch

    31 March 2015

    Tesla founder Elon Musk is known for hype generating about his business ventures, and just over a year after announcing plans to build a lithium-ion Gigafactory in Nevada, the CEO has tweeted about a top secret new Tesla product due to be launched at the end of April.

  • FMC Lithium’s logistics disrupted by Argentina rainfall chaos

    31 March 2015

    US-based FMC Corp. said that although deliveries to its Salar del Hombre Muerto brine production facility have been disrupted by 15 times the average rainfall in the region in the last week, lithium supply has not been dented. The news however highlights the vulnerability of South American brine operations to weather events.

  • Galaxy Resources' lithium plant sale finally reaches closing stages

    31 March 2015

    Galaxy is approaching the final hurdles in closing its Jiangsu lithium plant sale to Tianqui Lithium, which may spell the end of leasing agreements struck to give Galaxy some capital in the intervening period.

  • Floods halt Chilean lithium, potash and iodine production

    30 March 2015

    Freak rainfall has caused Chile's SQM, the world's largest producer of lithum, to suspend some of its Atacama desert salar plants as a precautionary measure. Other companies with assets in the region, such as Albermarle, may follow suit if weather conditions continue to hinder operations, while Argentinian lithium projects are also rumoured to have been affected.

  • IM Lithium News in Brief 20 – 26 March

    26 March 2015

    Qantas has become the most recent global airline to ban lithium-ion batteries from its cargo holds; US Li-ion battery developer XALT Energy signs $1bn global exclusive agreement with Hybrid Kinetic Group of China for the supply of its lithium titanate batteries.

  • SQM ousts CEO after 25 years at the helm

    20 March 2015

    Reign of lithium leader ends after quarter of a century; PotashCorp. directors resign over SQM tax scandal.

  • PDAC 2015: Battery minerals an oasis in the mining desert

    20 March 2015

    Battery mineral companies happier than most as short term demand sources disputed.

  • PotashCorp. representatives resign from SQM as Chilean company’s shares drop by 30%

    19 March 2015

    All three of PotashCorp.’s representatives on SQM’s board have resigned from SQM, putting momentum behind the share price battering observed throughout Wednesday. Media attention on the Chilean miner’s high-profile scandals has been intense, particularly following the firing of quarter-of-a-century serving CEO, Patricio Contesse.

  • SQM board ousts CEO after 25 years at the helm

    17 March 2015

    Patricio Contesse has been pushed out of SQM after a quarter of a century as its leader at an extraordinary general meeting. The company has provided no information on the content of the board meeting, but market speculation is focussing on the board’s perception of SQM’s public image, following a number of high-profile scandals.

  • Lithium News in Brief 26 February – 9 March

    10 March 2015

    Airlines call for worldwide ban on lithium battery shipments; No delays to Tesla's Gigafactory.

  • Rodinia Lithium nets $408,000 through land asset sales

    09 March 2015

    Rodinia has raised further funds by selling off a portion of its Centenario and Ratones properties. Together with a share swap cancelling $998,583 of debt owed to Aberdeen International in 2014, the company is moving towards a healthier balance sheet.

  • LG Chem to improve lithium ion battery life with Shenzen Senior Technology

    09 March 2015

    LG Chem has entered a second licence agreement using its patented separator technology. The patented ceramic coating improves the battery life of lithium-ion batteries.

  • PDAC 2015: Battery minerals an oasis in the mining desert

    06 March 2015

    Most commodities are presently operating in a depressed market and financing environment. Lithium and graphite, and now to a lesser extent rare earths, are receiving interest that other minerals are not, owing to excitement in electric vehicles, grid storage solutions and high tech industries. However, even considering the extra attention, times are hard for battery mineral developers.

  • Lithium battery ban on planes inconsequential for market

    05 March 2015

    The effect of banning lithium battery shipments on planes is likely to be zero. Most shipments take place by container on the ground, and lithium production has grown despite various air travel restrictions in the past years, say analysts.

  • Orocobre lithium project brings first customer on board

    05 March 2015

    The Olaroz Lithium project has its first customer ahead of beginning production in the second quarter of 2015. Financing liquidity has enabled the company to get things moving - most famously, the 25% contribution from Toyota, which has a vested interested in ensuring long-term lithium supply to the market.

  • SQM's earnings fall in low price environment

    04 March 2015

    SQM's results show how low prices have offset a rise in sales volumes in response to higher demand. Even though iodine prices are subdued, the group is working to increase its market share and overcome this hurdle. Meanwhile, current high demand for potassium chloride is not expected to last into 2015.

  • PDAC 2015: Battery demand drivers disputed; purity and processing efficiency is key

    04 March 2015

    Although attendees at PDAC disagreed on whether EV or grid storage demand would emerge first to drive battery growth, there was all round agreement that product value will lie in processing technology and increasing purity

  • PDAC 2015: Rare earths forgotten in a lithium and graphite focused EV and high-tech world

    03 March 2015

    The decline of interest in rare earths in favour of graphite and lithium, despite relatively similar end markets, has been questioned by rare earths companies. It has been suggested that China may wish to take a strategic interest in the emerging technologies that use rare earths to continue its rare earths dominance.

  • Galaxy Resources' Jiangsu plant sale faces further delays

    03 March 2015

    Galaxy Resources has been forced to extend its share trading suspension yet again, as a lack of clarity pervades on the sale of its Jiangsu plant to China's Tianqi Lithium. The delay may be compensated for by more leasing activity by Galaxy to ensure financial flexibility.

  • FMC's $1.64bn sale of soda ash arm to Tronox clears antitrust

    03 March 2015

    FMC is one step closer to becoming fully focused on lithium, now that the sale of its soda ash business to Tronox has cleared the antitrust review.

  • REM ups Bacanora stake to 15% but chairman declines interest in CEO position

    03 March 2015

    UK-listed speciality mineral investor Rare Earth Minerals Plc has increased its holding in Mexico-focused Bacanora as it pushes for more exposure to the revival of interest in lithium exploration.

  • Johnson Matthey closes $75m battery acquisition from Clariant

    02 March 2015

    Johnson Matthey is ready to launch an entity focusing entirely on battery materials after making two acquisitions in the sector.