MINE Australia’s Post

Bald Hill Lithium shifts into maintenance mode Australian Mining has informed that Mineral Resources Limited announced that its Bald Hill lithium mine in Western Australia will shift into care and maintenance mode due to current low lithium prices. Mineral Resources acquired Bald Hill for $260 million in late 2023 to ensure profits remained within Australia. By transitioning the mine into care and maintenance, MinRes aims to preserve cash flow and safeguard the spodumene orebody’s value until the global lithium market rebounds. Mining and mobile maintenance activities will cease on November 13, with operations at the spodumene concentrate plant and accommodation village halting by early December. During this period, MinRes will continue to optimise mine plans and operating structures for a future restart. The last shipment of spodumene concentrate is scheduled for December. Unfortunately, around 300 employees will be affected, but MinRes is committed to redeploying staff across its other WA sites. Where redeployment isn't possible, redundancy packages will be offered. A dedicated team of 10 employees will stay on-site to manage the scale-down and ongoing care and maintenance. Despite the temporary shutdown, Mineral Resources has boosted Bald Hill’s mineral resource by 168%—now standing at 58.1 million tonnes at 0.94% lithium oxide. Chris Ellison, Mineral Resources Managing Director, stated: “Bald Hill represents a significant value opportunity for MinRes once lithium market conditions improve. The decision to place it on care and maintenance is prudent and aligns with our recent cost reduction efforts.” MinRes remains focused on monitoring lithium prices and operational costs to resume operations when the market stabilizes. Source of feature photo: Mineral Resources official webpage #mining, #miningindustry, #lithium, #austrialia

MinRes Navigating the Lithium Landscape for Future Growth Infrastructure Retrofitting for Lithium: Retrofitting a nickel plant for lithium processing reflects MinRes's innovative approach to leveraging existing infrastructure for strategic advantage. The $15 million investment signifies an adaptive reuse of assets, positions MinRes to enhance its lithium processing capabilities and reduces capital expenditure and approval timelines compared to greenfield developments. Strategic Acquisitions: MinRes's acquisition of the Bald Hill lithium mine for $260 million despite the valuation challenges (potential adverse tax rulings) demonstrates its focus on securing strategic assets within the lithium market. Despite market fluctuations, MinRes's plans to double Bald Hill's production and extend its mine life reflect optimism in lithium's long-term prospects. Diversification: The commitment to the Onslow iron ore project is expected to add $2.5 billion a year to group EBITDA, broaden MinRes's resource portfolio, and leverage the sustained demand for iron ore in the global steelmaking industry. https://bit.ly/49XuyKC #LithiumMarket #MineralResources #SustainableMining #ElectricVehicles #RenewableEnergy #StrategicInvestment #MarketResilience #MineralResources Mineral Resources Limited Global Lithium Resources Liontown Resources Limited

Piedmont Lithium Inc. (ASX:PLL, OTC:PLLTL) Inc, a leading North American supplier of #lithiumproducts critical to the U.S. #electricvehiclesupplychain, today reported its first quarter 2024 financial results. The company’s project, North American Lithium, the largest producing #spodumene operation in North America, achieved record quarterly production of 40,439 dry metric tons (dmt) of spodumene concentrate in the first quarter of the year. NAL is jointly owned by Piedmont (25%) and Sayona Mining Limited (75%). The operation exceeded plan with #lithium recoveries of 69% in March 2024, setting a new monthly record. Overall safety performance improved as NAL recorded its lowest quarterly incident rate since the restart of operations in March 2023. More at #Proactive #ProactiveInvestors #ASX #PLL #PiedmontLithium http://ow.ly/CVgU105sv6Q

Troilus Announces Sale of Select Non-Core Properties to Comet Lithium and Provides Board Update MONTREAL, July 15, 2024 (GLOBE NEWSWIRE) -- Troilus Gold Corp. (“Troilus” or the “Company”, TSX: TLG; OTCQX: CHXMF; FSE: CM5R) announces that it has entered into an agreement with Comet Lithium Corporation (“Comet Lithium”) for the divestiture of its non-core properties, the Mercator, Monarch and Elmer East projects located in the James Bay Region (“The Transaction”) (See property locations in Figure 1). The Company would also like to announce the resignation of Dr. Eric Lamontagne and the appointment of Mr. François Biron, former General Manager of the Troilus Mine, to the Board of Directors (the “Board”). The sale of the non-core claims to Comet Lithium supports the company’s goal to focus solely on the development of its flagship Troilus Gold-Copper project located in North Central Quebec while maintaining exposure to the exploration upside of these properties. Details of the Transaction: Pursuant to an agreement dated July 12, 2024, Comet Lithium has agreed to acquire the Mercator, Monarch and the East Elmer projects from Troilus in exchange for 1,500,000 Consideration Shares to Troilus at an issue price of C$0.315 per Share (the “Issue Price”). The transaction will result in Troilus owning approximately 6% of Comet Lithium. In addition, Troilus has been granted a 2% Net Smelter Royalty (“NSR”) on each of the Mercator, Monarch and Elmer East projects. Comet Lithium will have the right to repurchase 1% for $3 million on each of the projects respectively. In addition, Troilus has been granted a 24-month participation right, allowing the Company to participate in any equity financing to maintain its equity percentage in Comet Lithium, subject to certain conditions, including Troilus Gold holding 750,000 common shares of Comet Lithium at the time of the equity financing. Justin Reid, CEO of Troilus Gold Corp., commented, “The sale of these non-core properties to Comet Lithium is a strategic step in our commitment to concentrate resources and efforts on the Troilus Gold-Copper Project as we advance towards production. We are confident in Comet Lithium's capabilities to develop these assets and are keen to see their progress.”   For a Full TLG: TSX Profile View and Press Release visit them at: https://lnkd.in/ge7CMyp #goldmining #preciousmetals #miningstocks #goldstocks #investing #stockstowatch #smallcapstocks #stockmarketinvesting #stockstobuy #investments #investors #gold #goldinvestment #investment #Quebec #tsx #exploration #stocks #mining #invest #TroilusGold #Copper #QuebecMining $TLG $CHXMF $CM5R

Exciting news in the world of lithium today with Rio Tinto announcing a blockbuster acquisition of Arcadium Lithium for $6.7 billion, representing a 90% premium to Arcadium's closing price on October 4, 2024, and a 39% premium since the formation of Arcadium on January 4, 2024. While many observers are surprised by the move and the deal size, we at Ridgeline are not. Lithium remains among the fastest growing commodities and there is potential for significant supply deficits in the coming years, and it's clear Rio Tinto is positioning for that future at a time when lithium prices appear to have bottomed (in their own words, the acquisition represents a "counter-cyclical expansion").     Ridgeline owns a 0.5% royalty on the Galaxy (formerly known as James Bay) lithium project in Quebec that will now be in the hands of one of the largest mining companies in the world, Rio Tinto ($114 billion market cap). We are excited to have Rio Tinto as a counterparty on the royalty and look forward to a potentially accelerated timeline for the project. https://lnkd.in/eCH6h-JF   #lithium #batterymetals #royalties #ridgelineroyalties

Piedmont Lithium Inc. (ASX:PLL, OTC:PLLTL) is nearing steady-state production at the jointly owned North American Lithium (NAL) #SpodumeneConcentrate processing plant, having shipped about 14,000 dry metric tonnes (dmt) of concentrate in the second quarter. The financial period also marked a record quarterly production of 49,660 dmt, a 23% increase in production from the previous quarter, having also achieved a new record in #lithium recoveries of 68% and process plant utilisation, at 83%. "As one of only a handful of active spodumene mines globally, NAL is a highly strategic asset with excellent operational performance as the ramp-up to steady-state production continues,” Piedmont Lithium president and CEO Keith Phillips said. More at #Proactive #ProactiveInvestors #LithiumProcessing #LithiumMining #BatteryMetals #CriticalMinerals http://ow.ly/la5s105C9BK

Updated: Rio Tinto buys Arcadium Lithium for $6.7 billion cash. Rio Tinto (ASX, LON, NYSE: RIO) will acquire #Arcadium #Lithium (ASX: LTM)(NYSE: ALTM), in an all-cash transaction, valuing the latter at $6.7 billion, the Anglo-Australian giant confirmed on Wednesday. Reuters Breaking News: "Rio’s $6.7 bln lithium bet is a pricey slow burn" "Buying the group will allow Rio to increase its annual lithium capacity from 108,000 tonnes to 373,000 tonnes, the world’s second biggest. Lithium prices may have fallen 80% from their 2022 peak level, but from 2030 there is likely to be a supply deficit, according to Benchmark Mineral Intelligence forecasts. The International Energy Agency reckons lithium demand could rise eightfold to 1.3 million tonnes by 2040." Reuters Breaking News: Rio’s $6.7 bln lithium bet is a pricey slow burn https://lnkd.in/dm3wyuV8

Poseidon Nickel Ltd (ASX:POS, OTC:PSDNF) will sell its Lake Johnston assets to Mineral Resources Ltd (ASX:MIN), enabling the company to intensify exploration activities and focus on operational efficiencies. The freshly inked Binding Heads of Agreement sets out the sale of the Lake Johnston #nickel concentrator plant and associated tenure, for which Poseidon will receive A$15 million from MinRes. The payment consists of an A$1 million non-refundable payment upon execution, with A$6.5 million to follow after the completion of the Sale and Purchase Agreement, and a A$7.5 million deferred payment 12 months post-completion. Additionally, Poseidon secures a 0.75% free-on-board (FOB) royalty on lithium minerals and a 1.5% net smelter return royalty on other minerals and metals extracted from the Lake Johnston tenements. More at #Proactive #ProactiveInvestors #ASX #OTC #POS #PSDNF #Mining #Nickel #BaseMetals http://ow.ly/hT59105mlbz

We have a gap in #copper supply, soaring demand that will drive price. #mininginvestment isn’t keeping up. A problem. The question we need to answer is why isn’t demand driving supply, what are the gaps in business models getting in the way of #criticalminerals growth. As business models evolve: 🎉 are approaches community-centric, building trust that flips conflict risks toward collaborative productivity? 🎉 are we taking advantage of #blendedfinance to catalyze investment? 🎉 are small scale exploration companies setup for success, or are they too often vehicles for capital misallocation and irrational exuberance? 🎉 are LSM’s working with artisanal miners toeard win/win growth, supporting formalizatiin that enhances productivity? Those who optimize collaboration, shifting yesterday’s business models to reflect today’s realities will be tomorrow’s winners. The Blended Capital Group and our partners are committed to reimagining outcomes in artisanal mining. We know that formalization enhances the dignity and productivity of work, a compelling investment proposution for #mininginvestment and #impactinvestment. #asm is a strategic soyrce of critical minerals, an opportunity for bridging supply gaps. Now is the time. Alliance for Responsible Mining (ARM) Levin Sources BanQu Inc. Napier Meridian #esg #sdgs #energytransition #netzero #responsiblemining #mining https://lnkd.in/gedx3aWc

📃 𝗟𝗶𝘁𝗵𝗶𝘂𝗺 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗼𝘃𝗲𝗿𝘃𝗶𝗲𝘄 𝗶𝗻 𝗤𝟰 𝟮𝟬𝟮𝟯 𝗟𝗶𝘁𝗵𝗶𝘂𝗺 𝗖𝗼𝗻𝗰𝗲𝗻𝘁𝗿𝗮𝘁𝗲: Australia mines performed well throughout the year 𝗠𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗲: By Q4 2023, a total of 8 projects were in operation. SC6 concentrate mine output reached 849,000 tons, +27% Y-o-Y/+6% M-o-M, primarily due to the steady increase Marion, PLA Wodigna and Bald Hill after operation recovery. Apart from Greenbush, the major lithium mines in Australia saw an increase during the past quarter. Europe & Americas brief: Projects in Latin America expanded steadily. NAL project in North America was under difficulties due to high cost. Being hindered by environment and approval issues, it is highly possible that lithium projects under construction is lower than expectation within the region. 𝗦𝗮𝗹𝗲𝘀: 𝗖𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝗣𝗿𝗶𝗰𝗶𝗻𝗴 𝗠𝗲𝗰𝗵𝗮𝗻𝗶𝘀𝗺 𝗮𝗻𝗱 𝗗𝗲𝘀𝗶𝗿𝗮𝗯𝗹𝗲 𝘀𝗮𝗹𝗲 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗶𝗻 𝗤𝟰 Apart from Greenbushes remained at M-1 contract, current lithium mine pricing mechanism has shifted from M+1 / M+2, driving to increasing sales. SC6 sold 767,000 tons in Q4 2023, +7.5% Y-o-Y / +3.0% M-o-M African lithium mines sold smoothly in the past quarter; newly-added capability in America started shipment from Q3 2023 and the sales were relatively smooth due to the signing of underwriting agreements or active cooperation with price adjustments. 𝗟𝗶𝘁𝗵𝗶𝘂𝗺 𝗖𝗼𝗻𝗰𝗲𝗻𝘁𝗿𝗮𝘁𝗲 𝗣𝗿𝗶𝗰𝗲: Due to the newly-adopted pricing mechanism, the price of Australia mine plummeted in Q4, and the price adjustment ranges from 19% to 71% on a monthly basis. 𝗟𝗶𝘁𝗵𝗶𝘂𝗺 𝗖𝗼𝗻𝗰𝗲𝗻𝘁𝗿𝗮𝘁𝗲 𝗖𝗼𝘀𝘁: The increasing yielding led to lower unit cost, and the cost curve of Australian lithium mine saw a decrease. With the growing output and sales of major miners such as Marion, Pilbara and Wodgina, the cost decreased on a monthly basis. However, the cost guidance of Greenbushes increased because of shrinking production. #Lithium #mine #battery #pricing #basemetal #Australia