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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":728,"relatedVideos":729},112471999568808,"3251770e-db61-4ffa-97fb-854de0a203c3","Lithium majors Tianqi and SQM make swoop for Australian juniors","lithium-majors-tianqi-and-sqm-make-swoop-for-australian-juniors","article/lithium-majors-tianqi-and-sqm-make-swoop-for-australian-juniors",{"_uid":547,"date":548,"tags":549,"editor":550,"content":560,"excerpt":707,"featured":51,"reporter":708,"_editable":712,"component":713,"seo_title":543,"categories":714,"visibility":720,"author_company":49,"featured_image":721,"seo_description":707,"author_full_name":49,"author_job_title":49,"formattedDate":726,"formattedArticleDate":727},"981739bd-cab3-436e-83a0-e38edbfe9f14","2023-01-13 00:00",[],[551],{"slug":552,"name":553,"content":554},"didi-bostock","Didi Bostock",{"job_title":555,"image":556,"bio":558,"linkedin":559},"Editor - Energy Transition & Economics",{"filename":557},"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":561,"content":562},"doc",[563,580,585,590,595,600,607,617,622,627,632,637,642,647,652,657,662,667,672,679,684,689,694,699],{"type":564,"attrs":565,"content":566},"paragraph",{"textAlign":49},[567,570,578],{"text":568,"type":569},"Two of the world’s largest lithium producers, China’s Tianqi Lithium and Chile’s SQM, moved to secure future feedstock supply in ","text",{"text":571,"type":569,"marks":572},"Western Australia",[573],{"type":574,"attrs":575},"link",{"href":576,"uuid":49,"anchor":49,"target":49,"linktype":577},"https://source.benchmarkminerals.com/article/australia-on-course-to-remain-number-one-lithium-producer-to-2030","url",{"text":579,"type":569}," this week, with over $100 million worth of investments in two lithium explorers. ",{"type":564,"attrs":581,"content":582},{"textAlign":49},[583],{"text":584,"type":569},"Tianqi Lithium Energy Australia, which is owned by Tianqi and Australian miner IGO, made a A$136 million ($94 million) offer for all of Essential Metals, which owns the Pioneer Dome lithium project. SQM also offered to invest up to A$20 million ($14 million) in Azure Minerals in return for a 20% stake in the company, which owns the Andover project. ",{"type":564,"attrs":586,"content":587},{"textAlign":49},[588],{"text":589,"type":569},"The investments highlight the need for the two lithium majors to secure future supply, which could feed their investments in lithium hydroxide refineries in Australia. ",{"type":564,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":569},"Tianqi’s Kwinana refinery outside Perth is set to ramp up production of lithium hydroxide this year, while SQM’s refinery, being developed in joint venture with Australian conglomerate Wesfarmers in a similar location is set to start in 2024. ",{"type":564,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":569},"Spodumene prices have risen by 150% over the past year to $6,000 a tonne (FOB Australia), according to Benchmark’s Lithium Price Assessment. ",{"type":601,"attrs":602,"content":604},"heading",{"level":603,"textAlign":49},4,[605],{"text":606,"type":569},"Australia’s lithium dominance",{"type":564,"attrs":608,"content":609},{"textAlign":49},[610,615],{"text":611,"type":569,"marks":612},"Australia is set to remain the world’s largest lithium producer",[613],{"type":574,"attrs":614},{"href":576,"uuid":49,"anchor":49,"target":49,"linktype":577},{"text":616,"type":569}," this decade, accounting for around 28% of global lithium supply by 2032, according to Benchmark’s Lithium Forecast, due to its deposits of lithium-containing spodumene. ",{"type":564,"attrs":618,"content":619},{"textAlign":49},[620],{"text":621,"type":569},"There are over 30 exploration projects in the country, mostly in Western Australia and Northern Territory.",{"type":564,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":569},"The Tianqi JV already owns a 51% stake in Australia’s largest lithium mine, the Greenbushes mine, while SQM owns a stake in the Mt Holland lithium mine along with Wesfarmers. The Mt Holland lithium mine is set to start production this year. ",{"type":564,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":569},"Currently almost all of Australia’s spodumene is sent to China to be processed, but the start of refineries to produce lithium hydroxide in the country could mean more of this material is kept within Australian borders.",{"type":564,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":569}," In addition, Australia has a free trade agreement with the US, making the material eligible for tax credits under the Inflation Reduction Act and as such may see more feedstock shipped to other nations. ",{"type":564,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":569},"Australia is forecast to produce 419,000 tonnes LCE of spodumene concentrate in 2023, up from 302,000 LCE in 2022, as the Mt Holland mine starts production, amongst others. Production is set to grow by 300,000 tonnes LCE by 2026 due to expansions and new projects. ",{"type":564,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":569},"The Greenbushes mine will produce 44% of this year’s forecast production, according to Benchmark’s Lithium Forecast, highlighting the mine’s dominant share of Australia’s production. ",{"type":601,"attrs":648,"content":649},{"level":603,"textAlign":49},[650],{"text":651,"type":569},"Tianqi’s move on Pioneer Dome",{"type":564,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":569},"Tianqi and IGO’s offer for Essential Metals was at a 45% premium to the company’s share price before the deal was announced.  ",{"type":564,"attrs":658,"content":659},{"textAlign":49},[660],{"text":661,"type":569},"Tianqi said the deal is subject to shareholder approval and regulatory approval. Tianqi said it was uncertain whether it needed to be submitted to Australia’s Foreign Investment Review Board for approval and it could not “rule out” intervention by the board.    ",{"type":564,"attrs":663,"content":664},{"textAlign":49},[665],{"text":666,"type":569},"In early 2020 Australia rejected an investment from China’s Yibin Tianyi in AVZ Minerals, which has a lithium project in the Democratic Republic of the Congo. ",{"type":564,"attrs":668,"content":669},{"textAlign":49},[670],{"text":671,"type":569},"The project covers 450 square metres and has total lithium resources of 11.2 million tonnes at 1.16% lithium oxide, with a mining life of 6.19 years. It is around 130 kilometers south of Kalgoorlie and 275 kilometers north of the Port of Esperance.",{"type":601,"attrs":673,"content":674},{"level":603,"textAlign":49},[675,677],{"text":676,"type":569},"SQM expands Australia presenc",{"text":678,"type":569},"e",{"type":564,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":569},"Unlike Tianqi’s cash offer, SQM chose to make only an initial investment A$4.2 million in Azure Minerals. It will invest a further A$15.8 million for a 19.99% stake in the ASX-listed company, subject to certain conditions. ",{"type":564,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":569},"These include an offtake agreement for 25% of all lithium produced by Azure on “commercially competitive” terms. ",{"type":564,"attrs":690,"content":691},{"textAlign":49},[692],{"text":693,"type":569},"The company said that the investment will allow Azure to “to draw upon SQM’s technical expertise in pegmatite-hosted lithium exploration, project development, production and marketing.” ",{"type":564,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":569},"Azure said last year that exploration had identified “widespread lithium-bearing pegmatites across the Andover project,” in the West Pilbara region.",{"type":564,"attrs":700,"content":701},{"textAlign":49},[702],{"text":703,"type":569,"marks":704},"Edit (17/01/23): Corrected SQM’s initial investment to A$4.2 million. ",[705],{"type":706},"italic","Two of the world’s largest lithium producers, China’s Tianqi Lithium and Chile’s SQM, moved to secure future feedstock supply in Western Australia this week, with over $100 million worth of investments in two lithium explorers. Tianqi Lithium Energy Australia, which is owned by Tianqi and Australian miner IGO, made a A$136 million ($94 million) offer […]",[709],{"slug":552,"name":553,"content":710},{"job_title":555,"image":711,"bio":558,"linkedin":559},{"filename":557},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"981739bd-cab3-436e-83a0-e38edbfe9f14\", \"id\": \"\"}-->","article",[715,718],{"slug":716,"name":717},"critical-minerals","Critical Minerals",{"slug":719,"name":8},"lithium","private",{"id":49,"alt":722,"name":722,"focus":722,"title":722,"source":722,"filename":723,"copyright":722,"fieldtype":724,"meta_data":725,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/a93bf1c228/bm-australian-lithium-mine.jpg","asset",{"alt":722,"title":722,"source":722,"copyright":722},"Jan 13, 2023","13th January 2023",[],[],1780670079102]