Member Info for jimb2

Indeed @Barksy1,

the lithium dream isn't what he thought it would be, Argentina, Chile and Bolivia are all looking at private investment with Bolivia delaying their decision (again) until December having committed to June 15th for their selection - someone lost out for being ten minutes late in submitting :

Worth reading through the article,

https://www.mining.com/energyx-disqualified-from-bolivian-lithium-race-on-technicality-company-says/

“The company humbly acknowledges it was 10 minutes late in submitting its final report (12:10 am, May 16, 2022), and YLB has indicated that this missed deadline was the reason EnergyX was disqualified from the evaluation process,” EnergyX said in the release.

#####

Like as if Ganfeng isn't the best option for Mexico to develop an industry - mining, battery, plant and_____?

Disruption,

Lake resources, debt financing not a problem!

https://company-announcements.afr.com/asx/lke/feb30a41-edda-11ec-8631-5a0386c0e199.pdf

Offtake Discussions Advanced: Two offtake non-binding agreements for approximately 25,000 tonnes per annum of lithium (LCE) each from the Kachi Project has been signed in non-binding Memorandum of Understanding (MoU) with Ford Motor Company (Ford) and with a major Japanese partner, Hanwa Co., Ltd. (“Hanwa”), over 10 years to be priced at average quarterly benchmark market prices. The MoU also provides for Hanwa to consider providing some financial support such as a meaningful equity investment,
(Refer ASX announcements 11 April 2022; 29 March 2022).

The results of the Tender Panel implied that indicative bank appetite for the Kachi Lithium Project was in excess of 5 times the required amount, reflecting the strong interest by international banks for this project and the indicative support of the Export Credit Agencies (ECA’s).

Could it be the DLE environmental credentials or general appetite for lithium resources?

I'm astounded people are distracted from what's unfolding in EV and energy, all the boxes are being ticked and yes our SP is disappointing but the decision to buy, sell or hold is your own responsibility.

https://www.benchmarkminerals.com/events/battery-gigafactories-usa-2022/

Benchmark has some high-profile speakers and industry sponsors - Hyatt Regency Capitol Hill Washington DC

Lithium is the new oil and the supply chain is high on the agenda of all major industrialised countries, @EV_Bull keep those figures coming, please!

I'm looking forward to what comes from that event after the Goldman Sachs lithium market forecasts responses - they don't appear to understand lithium grades required for EV batteries as many of the experts have alluded to.

#####

Now it is possible Ganfeng could announce commencement at Sonora at any time, the then our other assets?

I think the reality is hitting home,

The goal is to get stewardship [of lithium resources]. It is by no means a question of eliminating the private sector,” Armenta said at the event, adding that the idea is for the country to sell lithium derivatives instead of the raw material.

https://www.bnamericas.com/pt/feature/o-setor-privado-tera-um-papel-na-mineracao-mexicana-de-litio

#####

I would be very surprised if Ganfeng are being kept in the dark and their position just might be becoming stronger with their expertise in lithium from several fronts -

Indeed world events are a concern but the future is crystal clear with critical minerals and we have JV's in significant resources.

https://www.reuters.com/markets/commodities/us-partners-enter-pact-secure-critical-minerals-lithium-2022-06-14/

A nice read looks to be an original article looking with fresh eyes and reaching the same conclusion that some here agree with:

https://expansion.mx/empresas/2022/06/15/ganfeng-gigante-chino-unico-yacimiento-litio-mexico

But a handful of new clients, with production of electric vehicles in North America, could be interested in lithium from the Sonora deposit, above all, because according to the new T-MEC rules, the batteries of the vehicles that are manufactured in the region have to meet a regional content percentage.

Thanks, @EV_Bull that's intriguing,

https://youtu.be/Egnk8VfzIZU?t=125

developments, ink, and soon.

Still, the timing is right for contracts to be secured so we shouldn't be surprised, is it possible Ganfeng will announce an agreement involving Sonora regardless of A_L.O?

Massive announcements on practically a daily basis for battery plants and lithium production!

Soaring and frenzy in one headline!

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/geopolitical-fears-soaring-prices-spur-lithium-m-a-frenzy-in-china-70642094

Many Chinese companies are avoiding buying lithium projects in Australia and turning to South America and Africa, on concerns that the Australian Foreign Investment Review Board might restrict Chinese investment in the country, Chen said.

"The various difficulties encountered in multinational operations" has become one of Ganfeng Lithium Co. Ltd.'s biggest challenges, Chairman Li Hongbin told investors on an April 8 call. Mexico is planning to establish a state lithium company and might cancel the permit for Ganfeng's Sonora mine in the country.

Ganfeng is aiming to "develop as [many] domestic and foreign lithium resources as possible to meet the growth of market demand," Li said.

#####

good for the 30% JV's

http://www.aastocks.com/en/stocks/news/aafn-con/NOW.1189168/popular-news

The broker heightened BYD COMPANY's EV sales volume forecasts from 1.08 million units to 1.5 million units for 2022, and from 1.39 million units to 2 million units for 2023.

** 2023 I'll take 3 million-plus **

Also, we now have it official that Tesla will be using BYD's LFP in some vehicles, BYD has also passed VW to become the third-largest car company on MCAP

Well, it's disruption J curves -

If Mexico still wants a car manufacturing industry I'm pretty sure they will need Ganfeng producing lithium and very likely batteries/powertrains.

We have reached ICE price parity and range anxiety shouldn't be an issue from this year on, as well as fear of batteries combusting plus battery pack longevity.

Just to add to what was posted yesterday,

https://mexicobusiness.news/mining/news/sener-will-administer-lithium-state-company

Worth reading also:

https://newsrnd.com/news/2022-03-15-ganfeng--%22we-are-going-to-continue-in-sonora-because-the-laws-of-mexico-allow-lithium-to-be-exploited%22.rJfzAYYpZq.html

“The operation involved a change in shares of the Mexican companies holding the concessions,

The company assures that there is "no type of irregularity" in the approval and that they are not concerned with the president's order to open an investigation in this regard.

"The purchase of the part of Bacanora that Ganfeng did not have is completely legal and in accordance with Mexican law," says the spokesman.

Of the 20 operators currently working on the pilot project, the company indicates that they will hire more than 250 workers to operate the large-scale plants, "95% of whom will be from Mexico," they point out.

The Chinese giant considers that given the absence of a lithium industry in the country and the technical and metallurgical processing complexity of the deposit, they are the only ones that can provide the knowledge and technology necessary for the operation.

Thanks, @Amor_fati, that's very welcome news,

https://thehill.com/driving-into-the-future/3513236-evs-heading-into-price-ranges-fit-for-mass-adoption/

all falling into place, BYD reached 348% growth YOY despite COVID lockdown in May, launching new EV's based on platform 3 blade technology, the new model Seal launching in June with 22,000 plus orders in six hours competing with Tesla model 3, a new Han that competes with model S, China building Gigafactories with 50 GWh output - check out Simon Moore's tweet from yesterday.

https://twitter.com/sdmoores?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

#####

see the new launches from BYD coming in the next couple of months:

https://www.youtube.com/watch?v=BfDkrn-X7LY&ab_channel=TheElectricViking

Thanks @Mullins58, indeed very funny,

#####
Some responses expected next week from Benchmark and other industry commentators:

https://smallcaps.com.au/goldman-sachs-sends-shockwave-through-battery-metals-markets/

https://www.yicaiglobal.com/news/china-byd-snaps-up-six-african-lithium-mines-to-get-ten-years-supply-of-ev-battery-materials

Some of the mines will start deliveries in July and the lithium will be used to make BYD’s new blade batteries next quarter, the source said.

#####

BYD making such a move must be a sign of the pending shortage with raw material shipping to being in a battery in a matter of weeks!

Seems the EV disruption is unfolding as some here believed so many years ago, let's hope next weeks Americas summit touches on EV supply chains, Argentina, Brazil and Chile are there A_L.O doesn't seem to have rallied support for his boycott.

https://www.theyucatantimes.com/2022/05/us-senators-ask-biden-for-immediate-action-against-amlos-anti-business-rhetoric/

A dozen Republican and Democratic senators from the United States sent a letter addressed to President Joe Biden in which they expressed their concern about what they called “anti-business rhetoric”

https://thedailyguardian.net/they-leave-amlo-almost-alone-in-his-absence-from-the-top/

But, at the same time, companies in the United States are noticing with concern the deterioration of trust that has led to many companies using or going to use the Mexican judicial system or the legal tools of TMEC to file complaints against the actions and decisions of a Mexican state.

There's n Americas summit on June 6th that A_L.O has attempted to represent other countries in pressurising Joe Biden for them to be invited, I would imagine patience is wearing thin given his recent antics, interesting to see how the US responds.

#####
Brazil lithium project planned for 72,000 tonnes phase 1 due to begin December 2022:

https://www.nasdaq.com/articles/sigma-lithium-doubles-production-target-at-brazil-mine-ceo

https://www.bnamericas.com/en/analysis/mexico-warned-of-flood-of-lithium-lawsuits

Mexico is facing a potential “flood” of lawsuits by mining companies impacted by the government’s move to effectively nationalize lithium, as US and Mexican politicians ramp up pressure on the government to reverse or amend the move.

I think A_L.O is going to have a bumpy few weeks with his domestic and foreign policies, he seems to be punching above his weight.

Not directly related but likely more press on this tomorrow.

Glencore:

Attorney General Merrick Garland holds news briefing to discuss market manipulation

https://youtu.be/bOCZZ0xL0nM?t=213

I hope Ganfeng goes to litigation sooner rather than later, I do believe fossil fuel backers would rather see lithium staying in the ground as I mentioned a few days ago A_L.O looks to be duplicating Trump's playbook, from five minutes in:

https://www.forbes.com/sites/nathanielparishflannery/2021/04/19/is-president-lopez-obrador-destroying-mexico/?sh=10da9b0950ab

Considering that's a year old!

https://www.youtube.com/watch?v=vrsMVGqKKmM&ab_channel=Trendingnews

a pity, but this is the changing world - its's disruption!

Thanks, @EV_Bull and so reassuring that the reasons I have held for so long were covered in one webcast.

And not surprisingly:

https://www.bbc.co.uk/news/world-australia-61539426

Anthony Albanese, who won Saturday's election with the opposition centre-left Labor Party, said Australia could become a renewable energy superpower.

agree @Zoom56,

If I were Ganfeng I'd be asking for incentives to develop Sonora after these antics!

It will be critical for Mexico to be part of the EV revolution to have their own locally sourced lithium from Ganfeng together with the recycling and battery plant, which could leave the future of the Mexican car industry hanging in the balance