North America lithium supply deal anchors Stardust Power–Prairie Lithium partnership

Stardust Power

A new North America lithium supply deal links Stardust Power and Prairie Lithium from 2027. The agreement secures lithium chloride feedstock from Saskatchewan for Stardust Power’s planned refinery in Oklahoma. As a result, the North America lithium supply deal strengthens regional battery material security for EV and energy storage markets.

Structuring a long-term North America lithium supply deal

The North America lithium supply deal commits Prairie Lithium to deliver 6,000 t/yr of lithium carbonate equivalent. Prairie will supply lithium chloride produced from brines in Saskatchewan’s Duperow Formation using direct lithium extraction technology. Meanwhile, initial deliveries will begin in 2027 under a six-year non-binding contract, with options for two extensions.

Stardust Power is building its Muskogee, Oklahoma refinery with a Phase 1 capacity of 25,000 t/yr. Therefore, the North America lithium supply deal will cover only part of its nameplate output, leaving room for additional offtakes. Early lithium chloride shipments can be stored on-site, supporting commissioning and ramp-up flexibility.

Building a regional lithium value chain in North America

The North America lithium supply deal fits Saskatchewan’s push to monetise subsurface brine resources. Prairie controls mineral rights over more than 345,000 acres, providing scale for future expansions. At the same time, direct lithium extraction could lower environmental footprints versus traditional hard-rock mining.

Downstream, Stardust Power is locking in long-term customer visibility through a non-binding 10-year supply agreement with Sumitomo. This dual strategy, combining upstream Prairie volumes and downstream Japanese demand, reduces project risk. As a result, the North America lithium supply deal becomes a central pillar in a cross-border value chain spanning Canada, the US and Asia.

The Metalnomist Commentary

This North America lithium supply deal underscores how brine projects and midstream refineries are reshaping regional battery raw material flows. For metal and chemical producers, the combination of secure feedstock and long-dated offtake highlights where capital will concentrate along the EV value chain.

Yahua Terminates Finniss Lithium Offtake Deal with Core Lithium Following Project Suspension

Yahua Lithium

Chinese lithium producer Yahua terminated its spodumene offtake agreement with Australia's Core Lithium for the suspended Finniss project operations. The Yahua Finniss lithium deal termination follows Core Lithium's decision to halt operations at the Australian project in July 2024. Core Lithium agreed to pay Yahua a $2 million settlement to resolve the contractual obligations under the original 2019 offtake agreement for the Yahua Finniss lithium supply arrangement.

Original Offtake Agreement Targeted 75,000 Tonnes Annual Spodumene Supply

The terminated offtake agreement required Yahua to purchase at least 75,000 metric tonnes per year of spodumene concentrate from Core Lithium's Finniss project. The parties signed this long-term supply contract in 2019 when lithium market fundamentals appeared more favorable for Australian project development. However, the Finniss project faced operational challenges and market headwinds that ultimately led to the suspension of mining activities.

Core Lithium's decision to halt operations reflects broader challenges facing Australian lithium projects amid volatile pricing and operational complexities. The $2 million settlement payment compensates Yahua for the terminated supply relationship while releasing both parties from future contractual obligations. Meanwhile, the Yahua Finniss lithium deal termination demonstrates the risks facing long-term offtake agreements when projects encounter operational difficulties.

Diversified Supply Strategy Shields Yahua from Feedstock Disruption

Yahua emphasized that the Finniss project termination will not affect its lithium feedstock supply security due to diversified sourcing strategies. The Chinese lithium producer owns the Kamativi lithium assets in Zimbabwe, providing direct control over spodumene production and processing operations. As a result, this backward integration strategy reduces Yahua's dependence on third-party Australian suppliers for critical lithium raw materials.

The company maintains additional supply agreements with established lithium miners including Australia's Pilbara Minerals and other global producers. These diversified supply relationships ensure consistent feedstock availability despite individual project disruptions or market volatility. Therefore, Yahua's multi-sourced approach provides operational flexibility and supply chain resilience across different geographic regions and mining operations.

Yahua's response to the Finniss project termination highlights the importance of supply diversification in the volatile lithium market. Chinese lithium processors increasingly pursue backward integration strategies and multiple supplier relationships to manage supply risks. Consequently, the Yahua Finniss lithium deal termination reinforces the strategic value of diversified sourcing approaches for lithium chemical producers.

The Metalnomist Commentary

The Yahua-Core Lithium offtake termination illustrates the fragility of long-term supply agreements in volatile commodity markets, particularly for emerging lithium projects facing operational and financial pressures. Yahua's emphasis on supply diversification through asset ownership and multiple supplier relationships reflects the evolving risk management strategies of Chinese lithium processors seeking to secure feedstock supplies amid market uncertainty and project development challenges.

Appalachian Lithium Reserves Could Strengthen US Domestic Supply Security

USGS

Appalachian lithium reserves could give the US a much larger domestic resource base than previously recognised, according to a new assessment from the US Geological Survey. The agency said the eastern US Appalachian region may contain enough undiscovered, economically recoverable lithium to replace 328 years of US imports at 2025 levels.

Appalachian lithium reserves are hosted in pegmatites, large-grained rocks similar to granite. The southern Appalachian region is estimated to contain 1.43mn t of lithium oxide, while the northern Appalachian region holds another 0.90mn t.

Appalachian lithium reserves matter because the US still depends heavily on imported lithium. The country has only one current lithium producer and relied on imports for more than half of its supply in 2025.

The assessment adds another possible domestic supply route alongside lithium brine projects in the Smackover formation. Together, these resources could reshape US lithium strategy if they can be converted into permitted, economic and commercially scalable projects.

Pegmatite Resources Add a Hard-Rock Lithium Option

The Appalachian assessment points to hard-rock lithium potential in the eastern US. Pegmatite-hosted lithium is different from brine-based production because it usually requires mining, concentration and chemical conversion.

This gives the US another possible supply pathway. Hard-rock projects can produce spodumene concentrate, which can then be converted into lithium chemicals for batteries, energy storage and industrial uses.

Albemarle is already planning a lithium concentrator facility at Kings Mountain, North Carolina. The project is designed to produce 420,000 t/yr of lithium concentrate from spodumene.

That project is important because it could help rebuild a US hard-rock lithium supply chain. Domestic spodumene production would reduce reliance on foreign raw material and support future US conversion capacity.

However, resource estimates alone do not guarantee supply. Appalachian lithium projects would still need exploration, permitting, mine development, processing investment, environmental approvals and downstream customer qualification.

The strategic significance is still clear. The US lithium conversation is expanding beyond Nevada brines and western projects into eastern hard-rock resources with long-term supply potential.

Smackover Brines and Appalachian Pegmatites Broaden US Lithium Strategy

The Appalachian estimate follows earlier USGS work on the Smackover formation in southwest Arkansas. In 2024, the agency assessed that Smackover brines contain 5mn-19mn t of lithium, although it did not define economically recoverable volumes.

Several companies, including Equinor, ExxonMobil, EnergyX and Standard Lithium, are developing lithium projects in the Smackover region. Some are targeting commercial output around 2027.

The Smackover and Appalachian resource bases are strategically different but complementary. Smackover projects depend on brine extraction and processing technologies, while Appalachian projects would likely depend on hard-rock mining and spodumene concentration.

This diversification matters for US supply security. A lithium strategy based on multiple geological sources is more resilient than one dependent on a single basin, technology or company.

The US will still need processing capacity. Mining lithium ore or extracting lithium from brine does not automatically create battery-grade lithium carbonate or hydroxide.

That midstream gap remains the critical issue. Domestic resources must be connected to refining, chemical conversion, permitting, infrastructure and offtake agreements before they can reduce import dependence.

For battery manufacturers, the Appalachian assessment offers a long-term signal. More domestic resource potential could support future supply chains for electric vehicles, grid storage and defence-related battery applications.

The Metalnomist Commentary

The Appalachian lithium assessment is a resource-security signal, not an immediate supply solution. The US has the geology, but the decisive bottleneck will be converting resources into permitted mines, concentrators and battery-grade lithium chemicals.

Lopal Marble Bar Lithium Project Deal Extends Chinese Battery Material Supply Strategy

Lopal

Lopal Marble Bar lithium project acquisition will give China’s battery cathode material producer Lopal Tech another upstream position in Western Australia’s lithium sector. The company has agreed to acquire the Marble Bar project from Global Lithium Resources for A$14.85mn.

The Lopal Marble Bar lithium project is located in the Pilbara region of Western Australia. The project has an estimated resource of 18mn t grading 1.0% lithium oxide.

The Lopal Marble Bar lithium project deal reflects a continuing push by Chinese battery material producers to secure upstream lithium resources. Cathode and battery material companies are looking beyond processing capacity and moving closer to mine supply.

This matters because lithium raw material security remains central to battery supply chains. Even as lithium prices fluctuate, companies with long-term access to spodumene resources can better protect conversion plants, cathode output and customer supply.

Marble Bar Adds Pilbara Resource Exposure

The Marble Bar project gives Lopal direct exposure to a known lithium-bearing region. Western Australia remains one of the world’s most important hard-rock lithium supply bases, with spodumene projects feeding converters and battery material producers across Asia.

The project’s 18mn t resource at 1.0% lithium oxide gives Lopal a potential raw material position, although the acquisition price suggests the asset is still at an early development stage.

For Global Lithium Resources, the sale allows the company to focus more heavily on its larger Manna lithium project. Manna has a resource estimate of 52mn t grading 1.0% lithium oxide.

This creates a clearer portfolio structure. Lopal gains Marble Bar, while GL1 retains its larger Manna asset and existing downstream-linked partnerships.

The transaction also shows that Chinese battery material producers remain willing to invest in Australian lithium assets despite market volatility. Long-term supply security continues to matter more than short-term price weakness.

Manna Links Lopal to Future Offtake Supply

Lopal already has exposure to GL1 through the Manna project. It holds a 5% equity interest in Manna and has signed an offtake agreement to buy 40% of the project’s output.

China’s Canmax has agreed to take another 30% of Manna’s output and also holds a 9.45% stake in GL1. Australian lithium miner Mineral Resources owns 9.85% of GL1.

These relationships show how lithium supply chains are being structured around equity stakes and offtake agreements. Battery material companies want secured feedstock before projects enter production.

For Lopal, the Marble Bar acquisition adds another layer to its Australian lithium strategy. It gives the company project ownership while maintaining future offtake exposure through Manna.

The broader industrial meaning is clear. Chinese battery material producers are not relying only on spot markets. They are building upstream positions, offtake rights and strategic relationships to support long-term lithium chemical and cathode material supply.

The Metalnomist Commentary

Lopal’s Marble Bar deal shows that lithium strategy is shifting from price speculation to resource control. Even in a weaker lithium market, Chinese battery material companies continue to secure upstream positions that can support future conversion and cathode supply.

Hancock Lithium Mine Plan Advances as Spodumene Prices Recover

Hancock Lithium Mine

Hancock lithium mine plans in Western Australia are moving forward as stronger lithium concentrate prices revive confidence in large-scale spodumene development. Hancock Prospecting plans to build the A$1bn Andover mine, targeting production of up to 1.1mn t/yr of lithium concentrate.

Hancock lithium mine construction is scheduled to start in November 2028, with a two-year construction period. The project is planned for a 30-year operating life and would process 6mn t/yr of ore.

Hancock lithium mine development reflects a shift in lithium sentiment after the deep price collapse that forced project delays and suspensions across the sector. Spodumene prices have rebounded as Chinese battery demand improves and supply expectations tighten.

The Andover project is strategically important because Australia remains one of the world’s key hard-rock lithium supply bases. New capacity from Western Australia could support converters, battery producers and electric vehicle supply chains seeking long-term spodumene feedstock.

Andover Adds Scale to Western Australia’s Spodumene Pipeline

The Andover mine would become a major new lithium concentrate source if developed as planned. Annual output of up to 1.1mn t would give the project meaningful weight in the seaborne spodumene market.

The project sits within a broader ownership structure shaped by recent consolidation. Hancock Prospecting and Chilean lithium producer SQM partnered to acquire Azure Minerals in a A$1.7bn deal completed in May 2024 through their jointly owned company, SH Mining.

Andover is 60% owned by Azure, while Croydon Gold, a subsidiary of the Creasy Group, holds the remaining 40%. The involvement of Hancock and SQM gives the project both Australian mining strength and global lithium-market experience.

SQM’s role is especially relevant. The Chilean producer brings downstream lithium market knowledge, while Hancock adds financial capacity and Australian project execution capability.

The planned 30-year mine life also matters. Battery supply chains need long-duration feedstock sources, not only short-cycle spot supply. A project of this scale could support long-term offtake and conversion strategies.

Price Recovery Revives Lithium Project Economics

The Andover plan comes after a sharp recovery in spodumene concentrate prices. Prices rose in April as tighter supply expectations followed Zimbabwe’s introduction of export quotas for lithium concentrate.

Spodumene prices had previously collapsed to $900-1,100/t cif China in January 2024, down 83% after supply growth outpaced demand. That downturn forced many lithium developers to slow, delay or reassess projects.

Prices later began recovering in late 2025 as demand from China’s lithium-ion battery sector improved market sentiment. Stronger pricing has now made large hard-rock projects more attractive again.

However, lithium remains a volatile market. New supply from Australia, Africa, South America and China can quickly change balances if demand growth slows or inventories rebuild.

For Hancock, timing will be critical. Construction is not expected to start until late 2028, meaning the project will enter the market after the current price recovery has already been tested by several more years of battery demand and supply growth.

The strategic value remains clear. If lithium demand continues to rise from electric vehicles and energy storage, Andover could become an important feedstock source for global converters. If supply again expands too quickly, project economics may face renewed pressure.

The Metalnomist Commentary

Hancock’s Andover plan shows that lithium investment confidence is returning, but only for projects with scale, strong sponsors and long-term strategic value. The market has recovered from its deepest downturn, but future winners will still need cost discipline and secure downstream demand.

Chevron Joins the US Lithium Hunt

Chevron US lithium

Oil Majors Target Lithium in Smackover Formation

Chevron has officially entered the US lithium sector, joining ExxonMobil and Equinor in exploring lithium-rich brines in the Smackover formation. The oil giant acquired about 125,000 net acres in northeast Texas and southwest Arkansas, where high lithium content in briny groundwater has already attracted major interest.

The company plans to leverage its subsurface expertise to extract lithium from brine, aiming for lower costs and reduced environmental impact compared with hard rock mining or evaporation ponds. Chevron says this effort aligns with its broader strategy to support US energy leadership and build resilient domestic lithium supply chains.

Expanding Lithium Supply Amid Energy Transition

Chevron’s move mirrors a growing trend of oil companies pivoting toward critical minerals to secure positions in the energy transition. Smackover Lithium, a joint venture between Standard Lithium and Equinor, has already announced plans to produce 22,500 t/yr of lithium carbonate by 2028. Meanwhile, ExxonMobil signed a deal in November 2024 to supply up to 100,000 t of lithium carbonate to South Korea’s LG Chem, also sourced from the Smackover formation.

As demand for EV batteries accelerates, the region could become a cornerstone of the US lithium industry. Chevron’s participation underscores the convergence of oil and mining sectors, with traditional hydrocarbon firms now competing in battery materials.

Strategic Implications for US Lithium Supply

Chevron’s lithium strategy emphasizes domestic production to reduce reliance on imports and strengthen critical mineral supply chains. By applying oilfield brine extraction techniques, the company hopes to commercialize lithium with fewer environmental trade-offs.

Industry analysts believe oil companies could soon rival established lithium producers. As independent analyst Joe Lowry noted, “By early next decade, big oil and big mining will replace the likes of Albemarle at the top of the lithium world.”

The Metalnomist Commentary

Chevron’s entry into the lithium market highlights a strategic realignment of oil majors toward critical minerals. The Smackover formation is fast becoming a global lithium hotspot, and Chevron’s move strengthens US ambitions for secure, domestic supply. If successful, this strategy could reshape the balance of power in the lithium industry, positioning oil giants as major players in the battery supply chain.

Finniss Lithium Operation Restart Signals Australian Spodumene Supply Return

Core Lithium

Finniss Lithium Operation is returning to production after Core Lithium restarted mining at the Grants open pit in Australia’s Northern Territory. The move marks the reopening of an asset that had been in care and maintenance since 2024 because of weak lithium prices.

Finniss Lithium Operation will process its first ore in the September quarter, with the first spodumene concentrate shipment expected in the December quarter. Additional shipments are planned for 2027.

Finniss Lithium Operation restart reflects the sharp recovery in spodumene prices after supply constraints emerged in late 2025. Core Lithium approved the restart in March as stronger pricing improved the economics of bringing idled capacity back online.

The Grants pit will provide access to around 800,000t of ore and deliver about 100,000t of spodumene concentrate on a 5% lithium oxide basis. Mining has started in line with Core Lithium’s final investment decision schedule and cost expectations.

Grants Pit Brings Near-Term Spodumene Back to Market

The Grants open pit gives Core Lithium a near-term route back into the seaborne spodumene market. First ore processing in the September quarter and first shipment in the December quarter create a clear restart timeline.

This matters because Australian lithium producers are beginning to respond to stronger market conditions. Several operations that were halted during the downturn are now restarting as prices recover.

Spodumene prices have rebounded sharply from the lows reached in December 2025. The recovery has made previously idled hard-rock assets more attractive, especially those with existing infrastructure and established development plans.

For buyers, the return of Finniss adds incremental Australian supply at a time when lithium converters are reassessing feedstock security. But the restart also adds new supply into a market still vulnerable to oversupply if too many projects return at once.

Core Lithium’s timing is therefore important. The company is moving before the next wave of supply fully arrives, but it must still prove stable mining, processing and shipment performance after a long shutdown.

BP33 Sets Up Longer-Term Finniss Expansion

Core Lithium is also advancing infrastructure work at the BP33 underground mine. The company awarded a A$274mn underground mining services contract to Develop Global for a three-to-five-year period.

BP33 is expected to be developed by mid-2027. It should help lift ore production at Finniss to 1.2mn t/yr by mid-2028.

Core Lithium’s final investment decision summary outlines a longer-term plan to produce spodumene concentrate over a 20-year mine life. Expected unit costs are around A$762/t, giving the operation leverage to higher spodumene pricing if execution stays on track.

The restart and BP33 development show how lithium producers are rebuilding confidence after the 2024-25 market downturn. The key difference now is that investors and customers will focus more closely on cost discipline, grade, logistics and customer commitments.

For the broader battery supply chain, Finniss adds another signal that Australian spodumene remains central to global lithium raw material supply. The market recovery is bringing supply back, but long-term balance will depend on whether battery demand can absorb returning and new production.

The Metalnomist Commentary

Core Lithium’s restart shows that the lithium cycle has turned enough to bring idled Australian mines back into action. The risk is that recovering prices invite too much supply too quickly, making cost discipline and offtake quality more important than restart headlines.

Argentina Lithium Growth Could Challenge Chile’s Regional Lead

Argentina Lithium

Argentina lithium growth could reshape Latin America’s lithium map over the next decade as new projects advance under more investor-friendly rules. Argentina is expected to match Chile’s lithium output by 2035, with some industry participants arguing it could overtake Chile even earlier.

Argentina lithium growth is being supported by faster permitting, large brine resources and stronger investment incentives. By contrast, Chile’s lithium expansion remains constrained by restrictive legislation, lengthy approval processes and uncertainty around new project development.

Argentina lithium growth is strategically important because lithium remains central to electric vehicles, energy storage and battery supply chains. Global buyers want large-scale, politically stable and western hemisphere supply outside more exposed jurisdictions.

Chile remains the region’s largest producer today. However, its future output growth depends heavily on existing producers and slow-moving new projects, while Argentina has a deeper pipeline of advanced developments.

Chile’s Lithium Policy Slows New Supply

Chile has long been Latin America’s dominant lithium producer, but its regulatory system is limiting new investment. Lithium remains non-concessionable and is still treated under legislation linked to nuclear materials.

Companies seeking to extract lithium in Chile must apply for special mining contracts. These contracts are granted through public bidding processes that can be lengthy, bureaucratic and uncertain.

This creates a major exploration problem. Companies may be reluctant to explore land if they cannot be confident of later securing extraction rights.

Chile’s national lithium strategy also requires all new projects to use direct lithium extraction. DLE is viewed as more environmentally friendly than traditional evaporation ponds, but it creates technical and cost challenges.

Each DLE process must be designed around the specific chemistry of each brine resource. That means technology used at one salar cannot simply be copied at another.

This raises development costs and lengthens project timelines. Industry participants estimate that DLE projects may require investment of up to $44,000 per tonne of lithium carbonate equivalent, compared with about $26,000/t for evaporation projects.

Chile’s new supply pipeline is therefore moving slowly. The first major new project, Rio Tinto’s Maricunga, is expected only by the end of 2030, with another new project expected in 2032.

Until then, Chile may rely mainly on capacity increases from existing producers. That could limit its ability to respond to rising lithium demand if Argentina’s project pipeline accelerates.

Argentina’s Rigi Regime Attracts Lithium Capital

Argentina is moving in the opposite direction. Its government has streamlined licensing and introduced the Rigi incentive regime for large investments.

Rigi provides tax exemptions, import-export benefits and legal protections for approved projects. It also allows companies to settle certain disputes in courts outside Argentina, improving investor confidence.

Ten lithium projects have already applied to Rigi, with three approved. The programme has become a major signal to international investors seeking policy stability and faster project execution.

Argentina now has more than 60 active lithium projects and seven producing assets, the most in Latin America. Two new developments are expected to come on line this year, lifting projected output to 159,000t of lithium carbonate equivalent.

That remains below Chile’s 305,000t in 2024. However, Argentina has more than 20 projects in advanced stages, including eight close to production.

Argentina’s mining ministry expects output to reach 583,000 t/yr of lithium carbonate equivalent by 2035. That would put the country in position to match or overtake Chile if Chile’s permitting regime does not change.

The investment logic is clear. Argentina offers large brine resources, a more open policy framework and exposure to western hemisphere supply chains. That combination is increasingly attractive to battery makers, automakers and mining companies.

Chile still has enormous lithium potential. But potential alone does not create supply. Without faster approvals and clearer rules, Chile risks losing regional leadership to Argentina.

For the lithium market, this shift matters. Argentina’s rise could increase competition, diversify supply and give buyers more options in South America. It could also make Latin America’s lithium growth less dependent on Chile’s policy choices.

The Metalnomist Commentary

Argentina’s lithium advantage is not only geological; it is regulatory. Chile still has world-class resources, but Argentina is turning policy speed into supply-chain momentum.

Argentina Lithium Growth Could Challenge Chile’s Regional Lead

Argentina Lithium

Argentina lithium growth could reshape Latin America’s lithium map over the next decade as new projects advance under more investor-friendly rules. Argentina is expected to match Chile’s lithium output by 2035, with some industry participants arguing it could overtake Chile even earlier.

Argentina lithium growth is being supported by faster permitting, large brine resources and stronger investment incentives. By contrast, Chile’s lithium expansion remains constrained by restrictive legislation, lengthy approval processes and uncertainty around new project development.

Argentina lithium growth is strategically important because lithium remains central to electric vehicles, energy storage and battery supply chains. Global buyers want large-scale, politically stable and western hemisphere supply outside more exposed jurisdictions.

Chile remains the region’s largest producer today. However, its future output growth depends heavily on existing producers and slow-moving new projects, while Argentina has a deeper pipeline of advanced developments.

Chile’s Lithium Policy Slows New Supply

Chile has long been Latin America’s dominant lithium producer, but its regulatory system is limiting new investment. Lithium remains non-concessionable and is still treated under legislation linked to nuclear materials.

Companies seeking to extract lithium in Chile must apply for special mining contracts. These contracts are granted through public bidding processes that can be lengthy, bureaucratic and uncertain.

This creates a major exploration problem. Companies may be reluctant to explore land if they cannot be confident of later securing extraction rights.

Chile’s national lithium strategy also requires all new projects to use direct lithium extraction. DLE is viewed as more environmentally friendly than traditional evaporation ponds, but it creates technical and cost challenges.

Each DLE process must be designed around the specific chemistry of each brine resource. That means technology used at one salar cannot simply be copied at another.

This raises development costs and lengthens project timelines. Industry participants estimate that DLE projects may require investment of up to $44,000 per tonne of lithium carbonate equivalent, compared with about $26,000/t for evaporation projects.

Chile’s new supply pipeline is therefore moving slowly. The first major new project, Rio Tinto’s Maricunga, is expected only by the end of 2030, with another new project expected in 2032.

Until then, Chile may rely mainly on capacity increases from existing producers. That could limit its ability to respond to rising lithium demand if Argentina’s project pipeline accelerates.

Argentina’s Rigi Regime Attracts Lithium Capital

Argentina is moving in the opposite direction. Its government has streamlined licensing and introduced the Rigi incentive regime for large investments.

Rigi provides tax exemptions, import-export benefits and legal protections for approved projects. It also allows companies to settle certain disputes in courts outside Argentina, improving investor confidence.

Ten lithium projects have already applied to Rigi, with three approved. The programme has become a major signal to international investors seeking policy stability and faster project execution.

Argentina now has more than 60 active lithium projects and seven producing assets, the most in Latin America. Two new developments are expected to come on line this year, lifting projected output to 159,000t of lithium carbonate equivalent.

That remains below Chile’s 305,000t in 2024. However, Argentina has more than 20 projects in advanced stages, including eight close to production.

Argentina’s mining ministry expects output to reach 583,000 t/yr of lithium carbonate equivalent by 2035. That would put the country in position to match or overtake Chile if Chile’s permitting regime does not change.

The investment logic is clear. Argentina offers large brine resources, a more open policy framework and exposure to western hemisphere supply chains. That combination is increasingly attractive to battery makers, automakers and mining companies.

Chile still has enormous lithium potential. But potential alone does not create supply. Without faster approvals and clearer rules, Chile risks losing regional leadership to Argentina.

For the lithium market, this shift matters. Argentina’s rise could increase competition, diversify supply and give buyers more options in South America. It could also make Latin America’s lithium growth less dependent on Chile’s policy choices.

The Metalnomist Commentary

Argentina’s lithium advantage is not only geological; it is regulatory. Chile still has world-class resources, but Argentina is turning policy speed into supply-chain momentum.

Nevada North Lithium Project Resource Growth Strengthens US Lithium Supply Potential

Nevada North Lithium Project has increased its measured and indicated resource base, improving the scale potential of one of the more closely watched US lithium development assets. Canadian developer Surge Battery Metals updated the project’s estimate to 6.7mn t of lithium carbonate equivalent.

Nevada North Lithium Project now carries measured and indicated resources grading 3,820ppm lithium. That compares with 3.6mn t grading 4,016ppm in the project’s preliminary economic assessment.

Nevada North Lithium Project resource growth is strategically important because the US continues to seek domestic lithium supply for batteries, electric vehicles, energy storage and critical minerals security.

The project is jointly owned by Surge Battery Metals, with a 71% stake, and Evolution Mining, with 29%. Surge plans to deliver a comprehensive pre-feasibility study in the fourth quarter of 2026.

Larger Resource Base Improves Development Scale

The revised estimate shows a larger resource base, although the average lithium grade is slightly lower than in the preliminary economic assessment. That trade-off is common as projects expand and include broader mineralised zones.

The resource is constrained by an optimised pit shell based on a lithium carbonate equivalent price of $20,000/t. This assumption helps define what material could be economically considered under the current mine planning framework.

The increase to 6.7mn t of LCE improves the project’s strategic profile. Scale matters in lithium because battery supply chains need long-term, reliable and expandable sources of feedstock.

For Surge, the next milestone is the pre-feasibility study. That study will need to clarify mining design, processing route, capital cost, operating cost, recovery assumptions and permitting requirements.

Nevada North Li Project

US Lithium Projects Gain Momentum as Prices Improve

Recent lithium price increases are encouraging more exploration and development activity. Higher prices can improve project economics and attract financing, especially for assets in strategically important jurisdictions.

Nevada is already central to US lithium ambitions. The state offers domestic resource potential, established mining experience and proximity to battery and electric vehicle supply chains.

However, resource growth alone does not guarantee production. The project must still prove technical feasibility, commercial processing, environmental compliance and customer relevance.

The larger estimate gives Surge a stronger platform heading into the pre-feasibility stage. It also reinforces the wider US push to reduce dependence on imported lithium chemicals and battery raw materials.

If advanced successfully, Nevada North could become part of a more diversified North American lithium supply chain. Its value will depend on whether scale can translate into qualified, cost-competitive lithium production.

The Metalnomist Commentary

Surge’s updated estimate strengthens Nevada North’s strategic relevance, but the real test now moves from resource size to development economics. US lithium security will depend on projects that can pass feasibility, permitting and processing hurdles, not only publish larger resource numbers.

Eramet Argentina Lithium Plant Reaches 80% Capacity as Ramp-Up Recovers

Eramet Argentina Lithium Plant

Eramet Argentina lithium plant performance improved sharply in March as the Centenario-Ratones project reached around 80% of its designed capacity. The French mining group said the plant operated near 80% of its 24,000 t/yr nameplate capacity after recovering from February production setbacks.

The Eramet Argentina lithium plant is strategically important because Argentina is becoming one of the fastest-growing lithium supply regions globally. Stronger output from Centenario-Ratones supports the country’s push to challenge Chile’s long-standing lithium leadership.

The Eramet Argentina lithium plant produced 3,720t of lithium carbonate in the first quarter. Output was limited by downstream equipment shutdowns and natural gas supply constraints, but operations normalised in March.

Centenario-Ratones Recovers After February Disruptions

Eramet temporarily shut part of its downstream equipment in February for an extended period. The work was designed to implement improvements and support the ramp-up process.

Natural gas supply constraints also limited production during the quarter. These disruptions show that lithium brine projects depend not only on resource quality, but also on reliable processing equipment and energy supply.

Centenario-Ratones achieved its highest production rate to date in March. This suggests the project is moving closer to stable commercial performance after early ramp-up challenges.

The ramp-up is expected to be completed by July at the latest. If achieved, this would strengthen Eramet’s position in Argentina’s lithium supply chain and improve near-term lithium carbonate availability.

Lithium Sales Highlight Stronger Price Environment

Eramet sold 3,920t of lithium carbonate in the first quarter, generating €57mn in revenue. That implies an average realised price of roughly $16,986/t.

The first-quarter lithium revenue already exceeded Eramet’s lithium revenue for all of 2025. This highlights the impact of stronger lithium carbonate prices and improving sales volumes.

The result matters for project economics. Higher lithium prices can support ramp-up costs, equipment improvements and working capital needs during the early production phase.

For Argentina, Centenario-Ratones adds to a growing pipeline of lithium projects backed by more investor-friendly policies. Successful ramp-up would reinforce Argentina’s role as a major future source of lithium carbonate for battery supply chains.

The Metalnomist Commentary

Centenario-Ratones shows both the opportunity and execution risk in Argentina’s lithium growth story. Strong prices improve project economics, but stable energy supply and processing reliability will decide whether ramp-up targets become sustained production.

ABM Utah Lithium Project Targets Direct Extraction and Magnesium Output

ABM

ABM Utah lithium project plans could add a new US domestic source of lithium carbonate equivalent and magnesium if feasibility work supports development. American Battery Materials is assessing a direct lithium extraction facility in Utah tied to its Lisbon Valley project.

The ABM Utah lithium project is designed to produce 10,000 t/yr of lithium carbonate equivalent. The proposed facility would also produce 20,000 t/yr of magnesium ingots, giving the project a broader critical minerals profile.

The ABM Utah lithium project is located in the Paradox Basin, which straddles southern Utah and Colorado. The region sits in a historic seabed and contains lithium, magnesium, bromine, potash and potassium.

Historical data from Lisbon Valley show lithium values ranging from 81-500ppm. The next test is whether those values can support a commercial direct lithium extraction operation with competitive recovery, cost and product quality.

Direct Lithium Extraction Could Support US Battery Supply

Direct lithium extraction is becoming more important as the US seeks domestic lithium supply without relying only on hard-rock mining or traditional evaporation routes. DLE can potentially recover lithium from brines faster and with a smaller surface footprint.

For ABM, the strategic opportunity is to convert Lisbon Valley brine resources into battery-linked lithium carbonate equivalent. A 10,000 t/yr project would not dominate the market, but it could become a useful domestic supply source if successfully developed.

The project also fits US policy priorities. Washington is trying to secure more lithium, magnesium and other critical materials for batteries, defence, energy storage and manufacturing.

However, DLE projects remain technically demanding. Brine chemistry, recovery rates, reagent consumption, water handling, scaling, impurity control and operating cost will determine whether the Lisbon Valley project can move beyond feasibility.

Product qualification will also matter. Battery customers need consistent lithium carbonate quality, and that requires reliable processing from brine extraction through purification and final product production.

Magnesium Adds Strategic Value to the Project

The planned magnesium output gives the project an additional industrial angle. Magnesium ingots are used in aluminium alloys, die casting, lightweight components and specialty applications.

US magnesium supply has strategic relevance because magnesium supports automotive lightweighting, aerospace materials and defence-linked manufacturing. A domestic source could help reduce exposure to imported material.

The Paradox Basin’s broader mineral endowment also strengthens the project’s optionality. Lithium, magnesium, bromine, potash and potassium create potential for multi-product development, depending on commercial recovery and market conditions.

Multi-product projects can improve economics if by-products are saleable and processing flows are integrated efficiently. However, they can also add complexity because each product requires its own specification, market and operating route.

For ABM, feasibility work will need to prove both the lithium and magnesium business cases. Investors and customers will watch the project’s recovery assumptions, capital cost, permitting path and development timeline.

If successful, the Lisbon Valley project could support a more diversified US critical minerals base. Its importance lies not only in lithium supply, but in the possibility of linking battery materials with magnesium production from one regional resource system.

The Metalnomist Commentary

ABM’s Utah plan shows how US lithium projects are increasingly being framed as multi-mineral supply platforms. The key question is whether direct lithium extraction can turn Paradox Basin brines into qualified lithium carbonate and meaningful magnesium output at commercial cost.

Vulcan Lithium Hydroxide Project Advances as German Construction Begins

Vulcan Lithium

Vulcan lithium hydroxide project development has moved into major construction in Germany, marking a key step for Europe’s domestic battery materials supply chain. Australian-listed Vulcan Energy has started building its 24,000 t/yr Lionheart lithium hydroxide project in the German state of Hesse.

The Vulcan lithium hydroxide project is scheduled to produce first output in 2028. The construction start follows Vulcan’s receipt of a six-year commercial production licence for the facility in March.

The Vulcan lithium hydroxide project is strategically important because Europe remains heavily dependent on imported lithium chemicals for battery manufacturing. Local lithium hydroxide production could support electric vehicle, battery cell and cathode supply chains across the region.

Vulcan plans to produce battery-quality lithium from low-impurity geothermal subsurface brines. The company will use direct lithium extraction technology, linking lithium production with geothermal resource development in the Upper Rhine Valley.

Geothermal Brines Support Europe’s Local Lithium Strategy

The Lionheart project is part of Europe’s broader effort to build domestic critical minerals capacity. Lithium hydroxide is a key input for high-nickel cathode chemistries used in electric vehicle batteries.

Vulcan’s route is different from conventional hard-rock lithium mining or evaporation pond production. The company plans to extract lithium from geothermal brines, then process it into battery-quality lithium hydroxide.

This matters because direct lithium extraction can reduce land use and accelerate processing compared with traditional evaporation routes. However, DLE projects still face technical and commercial execution risk because each brine system has different chemistry and operating requirements.

Construction of the surface extraction plant at Landau in the Upper Rhine Valley began in February. This upstream extraction work is critical because the lithium hydroxide plant depends on reliable brine supply and stable lithium recovery.

The project’s low-impurity geothermal brine base could give Vulcan a useful advantage if it can scale the process reliably. Battery customers require consistent quality, traceability and long-term supply security.

Public Funding Highlights Strategic Battery Materials Push

The Lionheart project received around €104mn in funding from Germany’s federal government and the states of Rhineland-Palatinate and Hesse last year. This public support shows how lithium processing has become an industrial policy priority in Europe.

Germany has a major automotive industry and is expanding battery manufacturing capacity. Domestic lithium hydroxide production could reduce exposure to overseas conversion hubs and strengthen regional supply resilience.

The project also fits Europe’s push to localise more of the battery value chain. Mining or extraction alone is not enough. Europe needs lithium chemicals, cathode materials, battery cells, recycling and downstream qualification with automakers.

Vulcan’s 24,000 t/yr planned capacity would not satisfy Europe’s full lithium demand. However, it could become a meaningful regional source if production starts as planned in 2028.

The next challenge is execution. Vulcan must complete construction, prove DLE performance, operate the geothermal brine system and qualify lithium hydroxide with battery customers.

The Metalnomist Commentary

Vulcan’s construction start shows that Europe’s battery supply-chain strategy is moving from policy ambition to industrial buildout. The project’s success will depend on whether geothermal brine extraction and lithium hydroxide conversion can scale reliably enough to meet automotive-grade standards.

Stardust Lithium Chloride Feedstock Agreement Supports Oklahoma Refinery Plan

Stardust Power

Stardust lithium chloride feedstock agreement has strengthened the company’s plan to supply its Muskogee, Oklahoma refinery with domestic lithium brine material for battery-grade lithium carbonate production. The deal covers lithium chloride feedstock from a California brine project, with initial deliveries scheduled for the first half of 2028.

The agreement could provide up to 15,000 t/yr of lithium carbonate equivalent. Stardust Power has not yet disclosed the specific project name or location, saying those details will follow after a definitive agreement is signed.

Stardust lithium chloride feedstock agreement is strategically important because the company’s Muskogee refinery is planned for up to 50,000 t/yr of LCE capacity. Securing feedstock is one of the most important requirements for any lithium conversion project, especially as the US tries to build more domestic battery materials capacity.

California Brine Supply Adds Domestic Feedstock Option

The feedstock will come from a lithium brine project in California, making the agreement part of a wider US push to connect brine resources with domestic refining. California’s Salton Sea region has become one of the most closely watched lithium extraction zones in North America.

Companies active in the region include Berkshire Hathaway Energy Renewables, EnergySource and Controlled Thermal Resources. Based on expected integration and potential volume, Controlled Thermal Resources is considered the most likely supplier.

This matters because lithium chloride from brine projects can become an important input for downstream lithium carbonate production. If direct lithium extraction and brine processing projects scale successfully, they could reduce US dependence on imported lithium chemicals.

The timing remains important. Deliveries are not expected until 2028, which means Stardust still needs to manage project development, financing, permitting, customer qualification and feedstock conversion before commercial output can be secured.

Muskogee Refinery Builds a Broader Lithium Supply Network

Stardust’s Muskogee refinery is planned to produce battery-grade lithium carbonate, a key material for cathode production and lithium-ion batteries. The project is designed for up to 50,000 t/yr of LCE capacity, making feedstock diversification essential.

The California agreement adds to Stardust’s existing feedstock network. Other partners include Prairie Lithium in Canada and Mandrake Resources in Utah, giving the company multiple potential raw material streams.

The company also has a non-binding offtake agreement with Sumitomo for up to 25,000 t/yr of LCE over 10 years. That agreement gives Stardust a potential downstream sales channel, but commercial execution will depend on turning feedstock agreements into qualified battery-grade production.

For the US lithium supply chain, the project reflects a broader challenge. Domestic refinery announcements are increasing, but long-term success depends on reliable brine supply, conversion technology, customer qualification and competitive production costs.

The Metalnomist Commentary

Stardust’s agreement shows that lithium refining projects are only as strong as their feedstock base. The Muskogee refinery could become a meaningful US lithium carbonate platform, but its real test will be converting domestic brine supply into bankable, battery-grade output.

Vulcan Energy German Lithium Licence Advances Lionheart Supply Plan

Vulcan Energy

Vulcan Energy German lithium licence approval strengthens the company’s plan to bring its Lionheart lithium hydroxide project in Germany into commercial production in 2028. The Australian developer has secured a six-year commercial production licence for its Insheim production area, a key part of the planned 24,000 t/yr lithium hydroxide project.

The licence supports Vulcan Energy’s integrated geothermal lithium model. At Insheim, the company extracts lithium-rich geothermal brine while generating renewable energy, linking battery materials production with low-carbon power generation.

The Vulcan Energy German lithium licence also improves project credibility at a critical stage. The company began construction at Lionheart in February 2026 and secured a mix of grant, equity, and debt funding in December 2025. Further production licences will still be needed as Vulcan expands the project footprint.

German Geothermal Lithium Gains Industrial Relevance

Germany’s battery supply chain needs domestic and regional lithium sources to reduce dependence on imported raw materials. Vulcan’s Lionheart project targets that gap by producing lithium hydroxide from geothermal brine in Europe’s largest automotive market.

The Insheim licence gives Vulcan a regulated path to commercial production in one of its core operating areas. The initial term runs for six years, but the company plans to apply for an extension of at least 30 years. That longer horizon matters because battery material customers need supply security beyond short contract cycles.

The Vulcan Energy German lithium licence also supports Europe’s broader industrial policy goals. Lithium hydroxide remains essential for high-nickel cathode chemistries used in electric vehicles. A domestic German source could help automakers and cathode producers reduce supply chain risk.

Offtake Commitments Support Lionheart Financing

Vulcan has already placed most of its initial Lionheart output under offtake arrangements. The company expects to sell 94-99pc of early production to four customers, including Glencore and Stellantis.

Glencore will receive around 20pc of Lionheart output over eight years. This commitment gives Vulcan a major commodity partner while providing Glencore with exposure to European lithium hydroxide supply.

The project still faces execution risk. Vulcan must secure additional licences, complete construction, prove commercial-scale brine processing, and deliver consistent battery-grade lithium hydroxide. However, permitting progress, customer commitments, and financing support make Lionheart one of Europe’s more advanced lithium supply projects.

The Metalnomist Commentary

Vulcan’s progress matters because Europe needs lithium projects that are both local and commercially bankable. The licence does not remove technical risk, but it moves geothermal lithium closer to becoming a real part of Germany’s battery materials supply chain.

AMG Lithium Processing Strategy Targets a Fully Western Supply Chain

AMG Critical Materials (lithium)

AMG lithium processing strategy is moving toward a more fully Western supply chain. The company is exploring new lithium processing investments in both Brazil and Portugal. Its goal is to reduce dependence on China in the spodumene midstream. As a result, AMG lithium processing strategy now centers on regional integration and logistics control.

This matters because AMG already operates one of the few Western lithium refining platforms. The company runs a lithium hydroxide refinery in Germany using spodumene from Brazil. However, the concentrate still needs processing in China before final refining in Europe. Therefore, AMG lithium processing strategy is aimed at removing one of the biggest inefficiencies in its current chain.

The commercial logic is straightforward. Processing closer to extraction sites would cut transport complexity and reduce costs. It would also improve supply visibility for European refining operations. Consequently, the company is trying to build a more resilient and politically aligned lithium system.

Lithium Processing in Brazil Could Deepen Upstream Integration

Lithium processing in Brazil could become the first major pillar of this strategy. AMG is already the second-largest spodumene producer in the country. That gives it a strong upstream position from which to expand into midstream conversion. Therefore, Brazil offers both feedstock security and industrial logic.

Brazil’s policy environment also supports that direction. Authorities have repeatedly encouraged more value-added critical minerals processing inside the country. That policy push aligns with AMG’s stated aim of building an integrated upstream chain in phases. As a result, lithium processing in Brazil could fit both national strategy and company economics.

The country also offers broader structural advantages. Brazil combines legal stability, resource strength, and growing industrial interest in critical minerals. Those conditions make it an attractive location for longer-term investment. Meanwhile, local processing would reduce the need for back-and-forth shipments through China.

Lithium Processing in Portugal Could Strengthen Europe’s Refining Base

Lithium processing in Portugal offers a different but equally strategic advantage. Portugal sits much closer to AMG’s German refinery, which could simplify logistics and shorten transport routes. That would help reduce cost and improve coordination across the European chain. Consequently, lithium processing in Portugal could become a natural extension of AMG’s existing refining base.

The Barroso project adds further importance to that option. AMG is the top shareholder in Savannah Resources, which is developing what is expected to be Europe’s largest lithium mine. Barroso is scheduled to come online in 2028. Therefore, Portugal could eventually provide both local mine supply and closer midstream support for Europe.

AMG has not yet decided the timing, sequencing, or capacity of any new plants. A midstream project could emerge first in Europe or in Brazil. That uncertainty keeps the strategy flexible, but it also shows the company is still in evaluation mode. Meanwhile, its German refinery is expected to complete ramp-up to 20,000 t/yr by the end of this year.

The Metalnomist Commentary

AMG is addressing one of the biggest weaknesses in the Western lithium chain: the missing midstream. Mining and refining alone do not create supply security if China still dominates the upgrade step. If AMG executes well in Brazil or Portugal, it could become one of the more credible builders of a truly Western lithium supply route.

ABM and XTC Lithium Join Forces on Argentina’s Carachi Lithium Project

ABM

New partnership signals US-Australia collaboration to unlock critical lithium resources in South America

ABM Secures Option to Acquire 50% Stake in Carachi Lithium Project

American Battery Materials (ABM) and XTC Lithium have signed a non-binding agreement on Argentina’s Carachi Lithium Project. The partnership gives ABM the option to acquire up to a 50% interest in the project. ABM can form a joint venture once it secures a 10% stake.

The Carachi project is located in Argentina’s Catamarca Province, a region known for rich lithium brine deposits. The deal marks an early-stage collaboration between the US and Australian developers in a key critical materials hotspot. As lithium demand surges, access to Argentine salars becomes increasingly strategic for global battery supply chains.

XTC Expands Footprint Through Caroline Lithium Acquisition

XTC Lithium controls 21.9 km² of lithium assets through its acquisition of Caroline Lithium. This property includes the Carachi project, which now becomes a joint development opportunity. ABM’s entrance reflects growing investor interest in securing long-term lithium supply from Latin America.

Meanwhile, the non-binding nature of the agreement leaves flexibility for both firms to define next steps. This may include detailed exploration plans, resource estimation, and permitting processes in coming quarters. Industry watchers view such early partnerships as necessary to scale projects quickly in competitive jurisdictions.

Strategic Lithium Alliances Gain Momentum

As a result of tightening global lithium supply, cross-border alliances are gaining momentum. US firms are especially active in Argentina, seeking to diversify supply chains away from Asia. With lithium designated a critical mineral by the US government, projects like Carachi are closely watched.

The ABM-XTC deal represents another step in realigning the lithium industry for the energy transition. With careful execution, the Carachi project could become a vital node in the Western Hemisphere’s lithium map.

The Metalnomist Commentary

Strategic cooperation between American and Australian lithium players in Argentina points to growing urgency for regional lithium independence. If realized, Carachi could play a small but meaningful role in easing pressure on global battery supply chains.

Elevra Mangrove Lithium Offtake Could Strengthen Eastern Canada’s Battery Supply Chain

Elevra Lithium

Elevra Mangrove lithium offtake could become an important building block in Canada’s battery materials chain. Elevra has agreed to supply Mangrove Lithium with up to 144,000 t/yr of spodumene concentrate. The material would come from Elevra’s North American Lithium operation in Quebec. As a result, Elevra Mangrove lithium offtake points to a more integrated regional lithium model.

This deal matters because it links upstream mining with planned downstream conversion in eastern Canada. Mangrove intends to process the concentrate into battery-grade lithium hydroxide or carbonate. That would keep more value inside North America instead of exporting raw material only. Therefore, Elevra Mangrove lithium offtake supports the broader push for localized battery supply chains.

The commercial structure also deserves attention. Pricing will follow a market marker with both a floor and a ceiling. That approach can reduce downside risk while also limiting extreme upside exposure. Consequently, the deal structure appears designed for stability rather than pure spot-market volatility.

Quebec Spodumene Supply Gains a New Domestic Processing Route

Quebec spodumene supply is becoming more strategically important as downstream conversion capacity develops nearby. Elevra plans to begin supplying Mangrove in 2028 and ramp up deliveries to 144,000 t/yr by 2030. That timeline gives both companies room to align mine output with conversion buildout. As a result, Quebec spodumene supply could gain a stronger domestic destination.

The agreement is still conditional, which is important. The parties may sign a binding deal later, but only if Mangrove commits before June 2027 to build its conversion facility. That means project execution remains the real next test. Meanwhile, the announcement still signals serious intent from both sides.

Eastern Canada Lithium Conversion Could Broaden Elevra’s Offtake Portfolio

Eastern Canada lithium conversion could give Elevra a more diversified commercial base. The company already has offtake agreements with LG Chem and Tesla. Those contracts use different pricing formulas linked to spodumene and lithium hydroxide. Therefore, Elevra Mangrove lithium offtake would add another channel with a more regional conversion focus.

For Mangrove, the agreement is equally strategic. Securing future spodumene supply is essential if the company wants to build a viable conversion business. Without feedstock certainty, downstream lithium projects often struggle to gain credibility. Consequently, this proposed deal helps strengthen the case for an eastern Canada lithium conversion platform.

The Metalnomist Commentary

This agreement matters because it connects mine output with regional chemical conversion, which is where North America still needs more depth. The bigger issue now is not whether the idea makes sense. It is whether Mangrove can commit to the plant and turn this framework into a binding supply chain.

Ganfeng Lithium Begins Production of Spodumene Concentrate at Goulamina Mine in Mali

Ganfeng Lithium

Ganfeng Lithium, one of the world's leading producers of lithium, has officially started producing spodumene concentrate at its Goulamina lithium mine in Mali. This marks a significant step in the development of the mine, which is being constructed in two phases. The first phase, which began in 2022, has a production capacity of 506,000 tonnes per year (t/yr) of spodumene concentrate, with commercial production starting on December 15, 2024. The second phase, when completed, will raise the total capacity to 1 million t/yr.

Goulamina Lithium Mine: A Major Step for Ganfeng's Global Lithium Supply

The Goulamina project is one of Ganfeng's key international investments, located in Mali, a country that is becoming increasingly significant in the global lithium supply chain. The mine has a total resource base of 7.14 million tonnes (mn t) of lithium carbonate equivalent (LCE), with an average grade of 1.37% lithium oxide (Li2O), a quality that positions it as a key source of lithium in the coming years.

As part of its development, Ganfeng has announced that its wholly owned subsidiary Lithium du Mali SA (LMSA) holds a 100% stake in the project. However, in a move to strengthen its relationship with the host nation, Ganfeng will transfer a 35% stake in LMSA to the Mali government. This will see the government receive 10% of the stake for free, while the remaining 25% will be acquired for approximately $32 million.

Expanding Ganfeng’s Global Lithium Portfolio

Ganfeng Lithium is investing heavily in lithium extraction from both spodumene ore and brine sources across the globe. In addition to the Goulamina mine, Ganfeng has major operations in Australia, Argentina, Mexico, Ireland, and China. The company is also ramping up its Cauchari-Olaroz project in Argentina, which boasts an annual 40,000 t/yr capacity for lithium carbonate production.

The move to secure assets in Africa is part of a broader trend among Chinese lithium producers, who are increasingly looking to diversify their supply chains. Companies such as Huayou, Sinomine, Chengxin, and Yahua have been sending shipments from their Zimbabwe-based mines to lithium refineries in China, highlighting the growing importance of African countries as key players in the global lithium market.

Strategic Implications for Global Lithium Markets

Ganfeng’s investment in Mali and its expanding operations across Africa signal an ongoing shift in the global lithium mining landscape, with Chinese firms increasingly focusing on securing access to critical resources outside traditional markets like Australia and South America. As demand for lithium continues to surge, driven by the rapid growth of electric vehicles (EVs) and renewable energy storage solutions, these strategic moves will play a pivotal role in shaping the future of the lithium supply chain.

Bald Hill Lithium Mine Restart Signals Stronger Spodumene Recovery

Bald Hill Lithium

Bald Hill lithium mine operations are restarting after Mineral Resources responded to a sustained recovery in lithium prices. The Western Australian mine had been on care and maintenance since November 2024.

Bald Hill lithium mine ramp-up will begin in late May, with crushing and mining operations scheduled to start in June. First spodumene concentrate production is expected in July.

Bald Hill lithium mine shipments are planned from the Port of Esperance in the third quarter of 2026. Full capacity is expected in the fourth quarter.

The restart shows that stronger spodumene prices are beginning to bring suspended Australian lithium capacity back into the market. It also confirms that producers are becoming more confident after the severe lithium downturn that forced project closures and delays.

Spodumene Prices Bring Idled Capacity Back

Bald Hill has production capacity of about 165,000 dry metric tonnes per year of 5.1% spodumene concentrate. On a normalized 6% spodumene concentrate basis, capacity is around 140,000 dmt/yr.

The restart is modest compared with Australia’s largest lithium operations, but it matters for market sentiment. Idled mines returning to production show that the price recovery is no longer only a paper-market signal.

Mineral Resources also operates the Wodgina and Marion lithium mines. The company has lifted production guidance for both assets for the fiscal year ending June 2026.

Wodgina guidance increased to 280,000 dmt of SC6, while Marion guidance rose to 220,000 dmt of SC6. Together with Bald Hill, these assets strengthen MinRes’ position as a major Australian spodumene producer.

The restart also adds more supply to the seaborne lithium concentrate market. That could help converters secure feedstock, but it also raises the risk that returning capacity eventually caps price upside if demand growth slows.

Posco Stake Reinforces Battery Supply Chain Link

South Korean steelmaker Posco acquired a 30% stake in MinRes in November 2025 for $765mn. That investment gives the restart a stronger downstream battery supply-chain connection.

Posco has been expanding across battery materials, and access to Australian spodumene can support long-term lithium chemical production. For MinRes, the relationship provides strategic capital and potential customer alignment.

Western Australia remains one of the world’s most important lithium supply regions. Its hard-rock mines feed converters in China, South Korea and other battery manufacturing hubs.

The Bald Hill restart therefore fits a wider supply-chain pattern. Lithium producers are trying to rebuild volumes as prices recover, while downstream players seek more secure feedstock before battery demand accelerates again.

The key question is whether the recovery remains strong enough to absorb returning supply. If prices hold, more idled lithium capacity could follow Bald Hill back into production.

The Metalnomist Commentary

Bald Hill’s restart shows that lithium’s recovery is becoming operational, not just financial. The market now needs to watch whether returning Australian supply supports battery security or creates the next round of oversupply pressure.