News

Pilbara Minerals has confirmed Pilgangoora as one of the world’s largest hard rock lithium resource (reports MiningNews).

The company reported a 39% increase in measured, indicated and inferred resources to 308.9 million tonnes at 1.14% lithium oxide, 105 parts per million tantalum pentoxide and 0.59% iron oxide for 3.5Mt of containing lithium oxide and 71.7 million pounds of tantalum pentoxide at a 0.2% lithium cut-off grade. At a 0.5% cut-off, the lithium resource is 3.4Mt at 1.22%. Measured and indicated resources were up 59% to 2.46Mt of lithium oxide and 47.7Mlb of tantalum pentoxide.

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Lithium has a better claim than most commodities to be the “new oil.” It even comes with the latest geopolitical baggage (reports The Wall Street Journal).

Prices for the lithium-based chemicals that go into rechargeable batteries have soared this year as electric-vehicle sales have revved up, particularly in China. The average price for lithium carbonate, one of the two key compounds used by battery manufacturers, reached $US14,386 a tonne in August, according to Benchmark Minerals, up from $US6,124 in December.

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With Australian upstart Mincor securing the sort of financial support rarely offered to pre-revenue companies at a time when Andrew Forrest and BHP continue to battle over a Canadian nickel explorer (reports The Australian Financial Review).

Money continues to pour in for early-stage nickel stocks, with Australian upstart Mincor securing the sort of financial support rarely offered to pre-revenue companies at a time when Andrew Forrest and BHP continue to battle over a Canadian nickel explorer (reports The Australian Financial Review).

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BHP is joining forces to explore for metals crucial to the energy transition with a start-up backed by a group of tycoons including Jeff Bezos and Bill Gates (reports Bloomberg).

The miner has entered an alliance with Silicon Valley-based KoBold Metals to deploy its artificial intelligence technology to look for metals such as cobalt, nickel and copper, which are used in electrical vehicle chargers and batteries. The two companies will jointly fund and operate exploration programs — initially in WA — and will each have the right to share in any prospects. KoBold has used data-crunching algorithms to build what’s been described as a Google Maps for the Earth’s crust.

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Forming part of the approvals process for its Mount Peake vanadium-titanium-iron project in the Northern Territory, TNG Limited (ASX: TNG) has submitted a detailed assessment of alternative sites for Tivan processing facility (TPF) (reports Small Caps)

The resource and minerals processing tech company is proposing the Middle Arm industrial precinct in Darwin as the location for the facility due to its close proximity to existing utilities and transport infrastructure and availability of gas and water. The company received a direction from the NT Environment Protection Authority in May to provide additional information to supplement its draft environmental impact statement (EIS).

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And Iluka’s bullish assessment of mineral sands prices is good news for Strandline as it ramps up construction of its Coburn project in WA.

It is hard to move the dial when market caps are $8-$20 billion like they are for the leading gold producers. They rely on the gold price to create share price momentum, and when the gold price is going through a consolidation phase at lower levels like it is now, that momentum is to the downside. It is against that backdrop that gold IPOs are attracting greater investor interest than the performance of the leading gold stocks – and gold’s retreat to below $US1800/oz – might have you believe.

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Battery metals, led this week by nickel, continued to outperform the rest of the resources sector while gold took a peek above $US1800 an ounce but faded as U.S. investors turned their focus on interest rate settings ahead of a key central bank meeting

Battery metals, led this week by nickel, have continued to outperform the rest of the resources sector while gold took a peek above $US1800 an ounce but faded as U.S. investors turned their focus on interest rate settings ahead of a key central bank meeting. The gathering of bankers in the Wyoming ski resort of Jackson Hole could be the setting for the Federal Reserve chairman, Jerome Powell, to reveal his plans for winding back monetary support for the U.S. economy.

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Any doubts investors might have had about the power of environment, social and governance (ESG) issues to dictate corporate decision making were blown away this week when BHP caved into activist pressure to quit the oil and gas business.

The deal, which will see Woodside Petroleum acquire BHP Petroleum, has not been well received on financial markets, with both companies sold down and some big BHP shareholders indicating they will oppose the transaction when put to a vote next year. But whether BHP and Woodside achieve their desired marriage of convenience is not the big issue for investors. The more important point is that ESG considerations have now been elevated to a company-making (and breaking) level.

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