[SMM Analysis] Key Lithium News Abroad 3.17-3.21

The Russian Ministry of Natural Resources stated on Monday that it plans to produce at least 60,000 mt of lithium carbonate by 2030 to reduce dependence on imports and boost the production of high-capacity EV batteries. Lithium and other critical minerals, including rare earth metals, have gained global attention in recent months as US President Donald Trump sought to counter China's dominance in the sector through production agreements with Ukraine and Russia. Lithium, a metal crucial for EV production, has been listed as one of 50 critical minerals by the U.S. Geological Survey (USGS). Russia reported having up to 3.5 million mt of lithium oxide reserves. However, according to USGS estimates, Russia's lithium reserves were around 1 million mt in 2024, ranking 14th globally. Notably, the pure lithium content in lithium oxide is approximately one-third, while in lithium carbonate, it is about 20%. The Russian Ministry of Natural Resources stated that domestic industrial lithium production is expected to start in 2030. Russian President Vladimir Putin also emphasized last month that Russia should accelerate its lithium mining plans, and demand for lithium has surged in recent years as Russian companies have heavily invested in large-scale lithium battery and EV production. The ministry further added that Russia has historically relied on lithium imports and now urgently needs to rapidly establish facilities to increase economic extraction and processing of this strategic resource. The department revealed that exploration licenses have already been issued for three major lithium ore deposits: Kholmovskoye and Polmostundrovskoye in the Murmansk region of north-west China, and Tastygskoye in the Tuva region bordering Mongolia. It is expected that these three deposits and their associated production facilities will be operational by 2030. Source: Reuteres Recently, KBR (headquartered in Houston, Texas, USA) and ISU Specialty Chemicals Co., Ltd. (headquartered in Seoul, South Korea) have advanced the PureLi2S(SM) lithium sulfide technology to commercial scale following successful operations at a pilot plant in Wonsan, Ulsan, South Korea. Under a joint development agreement signed in 2023, the two companies established a pilot plant and successfully produced lithium sulfide that met specifications and gained market recognition. This experience, combined with KBR's expertise in scaling up process technologies, will be key to designing commercial facilities and bringing the technology to the global market. KBR's PureLi2S technology aims to produce battery-grade lithium sulfide for all-solid-state batteries (ASSBs). Compared to traditional liquid electrolytes, ASSBs offer higher energy density, enhanced safety, and superior efficiency. The technology can produce high-purity lithium sulfide while minimizing off-spec material, a significant advantage given the complexity and inherent chemical properties. Transitioning to larger-scale continuous production from existing batch processes will also improve cost-effectiveness and scalability. Hari Ravindran, Senior Vice President of KBR Technology Solutions, said, "We are excited to deepen our collaboration with ISU Specialty Chemicals, leveraging two years of joint R&D to scale up lithium sulfide production. With PureLi2S technology, we not only support improved EV performance and driving range but also drive the affordability needed for mass electrification." Seung-Ho Lyu, CEO of ISU Specialty Chemicals, stated, "Our Wonsan plant has exceeded expectations, consistently producing specification-compliant lithium sulfide. We are thrilled to partner with KBR to bring this breakthrough technology to market." Source: Chemical Engineering On March 17, the UK's first commercial geothermal lithium production plant was approved, with Cornish Lithium planning to demonstrate its ability to extract valuable battery materials and thermal energy from rocks beneath Cornwall. Cornish Lithium has received planning permission to build production facilities at the Cross Lanes site near Chacewater. The first phase of the project will include drilling two wells to a depth of 2,000 meters: one for extracting lithium-rich water from underground and the other for reinjecting the water after lithium is removed using direct lithium extraction technology. Since 2021, Cornish Lithium has been testing various direct lithium extraction technologies at a nearby site, including membrane separation technology provided by GeoLith and Evove. However, the company declined to disclose which companies it will collaborate with in the new containerized process plant, stating only that it is "still exploring which direct lithium extraction technology will be used." Traditional lithium production methods involve heating mined rock or using large evaporation ponds for a slow evaporation process. Emerging direct lithium extraction methods are expected to increase recovery rates by up to 90%, although they may be more capital-intensive. Cornish Lithium also noted that the project will assess the potential to use the thermal energy from the hot water to heat local homes and businesses. The second phase will include building a demonstration plant to produce lithium samples for battery and EV manufacturers. If successful, Cornish Lithium plans to construct a commercial lithium production plant on the site. Jeremy Wrathall, CEO of Cornish Lithium, said the approval is a "key milestone in our efforts to produce domestic lithium from geothermal waters first discovered in Cornwall in 1864. It marks another step in the UK's journey from complete reliance on imported lithium to maximizing the potential of what lies beneath Cornwall." Source: Public Information Compilation Zijin Mining, one of the world's fastest-growing mining companies, is accelerating its global expansion, planning to significantly boost copper, gold, and lithium production over the next five years. The China-based mining company, with a market value of around $60 billion, aims to achieve 1.5 million mt of copper and 3.2 million ounces of gold by 2028. In an interview at the 2025 PDAC conference, Zijin Mining Vice President Shaoyang Shen attributed the company's success to an aggressive M&A strategy, technological advancements, and a commitment to sustainability. "Our clear goal is to become a green, high-tech, and globally leading mining company," Shaoyang Shen told Kitco Mining, adding that by 2030, over 30% of its energy will come from renewable sources. Zijin Mining has been actively investing in mining assets in Africa, the Americas, and Europe. As part of a broader strategy to increase gold production, the company recently spent $1 billion to acquire Newmont's Akyem gold mine in Ghana. "Our target is to produce 3.2 million ounces of gold by 2028, with an annual growth rate of 7% to 8%," Shaoyang Shen said. He noted that while the company's gold output is increasing, Zijin Mining's copper business currently generates more revenue, reflecting changes in market dynamics. Meanwhile, Zijin Mining is also expanding in the lithium sector, a key metal for the EV revolution. Shaoyang Shen confirmed that Zijin Mining will begin producing 40,000 mt of LCE in 2025, positioning itself as a significant player in the battery metals sector. Operating in multiple jurisdictions, Zijin Mining has strategically diversified its portfolio to mitigate market volatility. "When it comes to industrial metals like copper and zinc, they are influenced by macroeconomic trends," Shaoyang Shen explained, "while gold serves as a safe-haven asset during times of economic uncertainty." Zijin Mining's dual focus on industrial and precious metals allows the company to remain resilient amid global economic fluctuations. "Our metal portfolio is relatively balanced and sustainable," Shaoyang Shen stated. Zijin Mining's global ambitions come at a time of heightened geopolitical tensions. Despite the challenges, Shaoyang Shen emphasized the importance of international mining cooperation. "The mining industry really needs international cooperation," he said, "some countries are rich in resources but lack financial or technical capabilities... Canada plays a significant role in setting mining standards and facilitating global transactions." While Zijin Mining is currently listed on the Shanghai and Hong Kong stock exchanges, Shaoyang Shen did not rule out the possibility of listing on international markets such as Canada, the US, or London in the future. Source: Kitco News Recently, the lithium processing plant being constructed by Zheli Mining Investments in Zvishavane, Zimbabwe, is nearing completion, with the final stages of work almost finished. The $1.5 million plant, capable of processing 500 mt of ore per day, is expected to commence operations next month. Owen Ncube, Minister of Provincial Affairs and Devolution for the Midlands Province, highlighted the strategic importance of the project. During a recent inspection, Ncube said, "We gather here not only to witness the significant progress in lithium mining but also to reflect on the broader potential of our province's rich mineral resources, including gold in various regions. These resources are crucial for the social and economic development of our country and are an integral part of our 'Vision 2030'." Kudakwashe Zimhondi, General Manager of Zheli Mining Investments, expressed confidence in the project's progress. He said, "We have completed the installation phase and conducted trial runs to test its efficiency. So far, we are very excited about the results. The government's support for the lithium industry has been key to our success, and we appreciate their efforts in creating a favorable investment environment." Once fully operational, the lithium processing plant is expected to create jobs and promote economic empowerment and skill development in Zvishavane. Additionally, Zimbabwe continues to play a significant role in the global lithium market, attracting many investments in the sector. With the surging demand for lithium resources in EV batteries and renewable energy storage, the project will further enhance Zimbabwe's competitiveness among lithium-producing countries. Source: African Mining Market

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[SMM Analysis] Key Lithium News Abroad 3.17-3.21

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