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cancels Portuguese lithium refinery following Northvolt collapse","galp-cancels-portuguese-lithium-refinery-following-northvolt-collapse","article/galp-cancels-portuguese-lithium-refinery-following-northvolt-collapse",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":693,"featured":51,"reporter":694,"_editable":698,"component":699,"seo_title":553,"categories":700,"visibility":706,"author_company":49,"featured_image":707,"seo_description":693,"author_full_name":49,"author_job_title":49,"formattedDate":712,"formattedArticleDate":713},"e362c6e9-1046-48f6-a5ab-47cf600c2691","2024-11-28 00:00",[560,563,566],{"slug":561,"name":562},"europe","Europe",{"slug":564,"name":565},"galp","Galp",{"slug":567,"name":568},"northvolt","Northvolt",[570],{"slug":571,"name":572,"content":573},"didi-bostock","Didi Bostock",{"job_title":574,"image":575,"bio":577,"linkedin":578},"Editor - Energy Transition & Economics",{"filename":576},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":580,"content":581},"doc",[582,607,612,625,630,637,642,653,658,663,668,673,678,683,688],{"type":583,"attrs":584,"content":585},"paragraph",{"textAlign":49},[586,589,597,599,605],{"text":587,"type":588},"Development of the ","text",{"text":590,"type":588,"marks":591},"50:50 joint venture",[592],{"type":593,"attrs":594},"link",{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/northvolt-moves-upstream-with-galp-lithium-hydroxide-jv?_branch_match_id=1544391513654564874&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWzwm2cAlyiiwI8U%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAT6mG2kgAAAA%3D","url",{"text":598,"type":588}," lithium hydroxide refinery between Northvolt and Portuguese oil and gas major Galp has ended after ",{"text":600,"type":588,"marks":601},"Northvolt collapsed",[602],{"type":593,"attrs":603},{"href":604,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/northvolt-files-for-bankruptcy-in-us-as-ceo-steps-down?_branch_match_id=1544391505164126653&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWT6syda2o8CgI8U%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUA9HEV%2FEgAAAA%3D",{"text":606,"type":588}," and Galp failed to find an alternative partner.",{"type":583,"attrs":608,"content":609},{"textAlign":49},[610],{"text":611,"type":588},"The refinery was planned to have a capacity of up to 35,000 tonnes of lithium hydroxide (30,000 tonnes lithium carbonate equivalent) and come online in 2026.",{"type":583,"attrs":613,"content":614},{"textAlign":49},[615,617,623],{"text":616,"type":588},"This comes as a disappointing blow for ",{"text":618,"type":588,"marks":619},"Europe’s aspirations",[620],{"type":593,"attrs":621},{"href":622,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/europes-last-shot-can-europe-act-fast-enough-to-compete-in-the-battery-supply-chain?_branch_match_id=1544391522433247155&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWT8yI9PMt8SsI8U%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUA20l6m0gAAAA%3D",{"text":624,"type":588}," of developing a lithium industry that could bolster its domestic supply of the critical battery chemical.",{"type":583,"attrs":626,"content":627},{"textAlign":49},[628],{"text":629,"type":588},"“Galp’s exit represents a major setback for Europe’s Net Zero Industry Act objectives,” said Federico Gay, principal lithium analyst at Benchmark. “Combined with delays in Serbia’s Jadar mine and Northvolt’s challenges, the continent’s efforts to secure a resilient lithium supply chain have taken a hit.”",{"type":631,"attrs":632,"content":634},"heading",{"level":633,"textAlign":49},4,[635],{"text":636,"type":588},"Could Northvolt’s collapse impact demand for lithium in Europe?",{"type":583,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":588},"However, even without Northvolt’s mineral demand, Europe is forecast to remain in a significant supply deficit for both mined lithium and lithium chemicals.",{"type":583,"attrs":643,"content":644},{"textAlign":49},[645,651],{"text":646,"type":588,"marks":647},"Europe’s Critical Raw Materials Act",[648],{"type":593,"attrs":649},{"href":650,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/",{"text":652,"type":588}," is targeting 10% of Europe’s critical mineral demand to be met by domestic mining and 40% by domestic processing.",{"type":583,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":588},"“While the setback is significant, the broader context remains unchanged: the energy transition targets are pressing, and the looming deficit in lithium and other critical minerals persists,” Gay said.",{"type":631,"attrs":659,"content":660},{"level":633,"textAlign":49},[661],{"text":662,"type":588},"What was Galp’s position in Europe’s lithium industry?",{"type":583,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":588},"Europe currently has a very small-scale lithium industry. Its only operating lithium mine is Sociedade Mineira’s de Pegmatite’s mine in Portugal which produces under 2,000 tonnes LCE per year.",{"type":583,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":588},"One of the mines due to come online in this time period is the Mina do Barroso spodumene mine. This is 74% owned by Savannah Resources, 16% by AMG Lithium and 10% owned by Galp.",{"type":583,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":588},"“Galp made a strategic investment in Mina do Barroso to secure feedstock for the Aurora Lithium project” Gay said.",{"type":583,"attrs":679,"content":680},{"textAlign":49},[681],{"text":682,"type":588},"The Aurora refinery was due to come online in 2026 and reach full capacity by 2030.",{"type":583,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":588},"The cancellation of Aurora is a particular blow to Portugal’s lithium industry which is already struggling with setbacks to its mining projects.",{"type":583,"attrs":689,"content":690},{"textAlign":49},[691],{"text":692,"type":588},"“Portugal’s dream of leading the European lithium-ion supply chain has encountered significant setbacks in recent months,” Gay said. “Despite hosting some of the continent’s largest identified lithium resources, particularly at Savannah Resources’ Mina do Barroso project, environmental activism and opposition from local agricultural communities have stalled its progress.”","Development of the 50:50 joint venture lithium hydroxide refinery between Northvolt and Portuguese oil and gas major Galp has ended after Northvolt collapsed and Galp failed to find an alternative partner. The refinery was planned to have a capacity of up to 35,000 tonnes of lithium hydroxide (30,000 tonnes lithium carbonate equivalent) and come online […]",[695],{"slug":571,"name":572,"content":696},{"job_title":574,"image":697,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"e362c6e9-1046-48f6-a5ab-47cf600c2691\", \"id\": \"\"}-->","article",[701,704],{"slug":702,"name":703},"critical-minerals","Critical Minerals",{"slug":705,"name":8},"lithium","private",{"id":49,"alt":708,"name":708,"focus":708,"title":708,"source":708,"filename":709,"copyright":708,"fieldtype":710,"meta_data":711,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/900070f9ae/bm-portugalflagg.jpg","asset",{"alt":708,"title":708,"source":708,"copyright":708},"Nov 28, 2024","28th November 2024",[],[],1792773893386]