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looks north for its spodumene ambitions","livent-looks-north-for-its-spodumene-ambitions","article/livent-looks-north-for-its-spodumene-ambitions",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":709,"featured":50,"reporter":710,"_editable":714,"component":715,"seo_title":553,"categories":716,"visibility":720,"author_company":49,"featured_image":721,"seo_description":709,"author_full_name":49,"author_job_title":49,"formattedDate":726,"formattedArticleDate":727},"425853f1-de72-498d-97e4-ffdd236a798c","2020-11-20 00:00",[560,563,566],{"slug":561,"name":562},"canada","Canada",{"slug":564,"name":565},"livent","Livent",{"slug":567,"name":568},"spodumene","Spodumene",[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",[582,589,594,599,604,609,614,619,624,629,634,641,646,651,666,671,684,695,700],{"type":583,"attrs":584,"content":585},"paragraph",{"textAlign":49},[586],{"text":587,"type":588},"Livent and The Pallinghurst Group have formed a joint venture to acquire assets from Nemaska Lithium, and will own 50% of the newly named project, New Nemaska. The remaining 50% will be held by Investissement Quebec.","text",{"type":583,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":588},"Nemaska Lithium had stretched itself with capital expenditure overruns as it pursued its vertically integrated spodumene-hydroxide Whabouchi project in Quebec, which had a nameplate capacity of 37,000 tpa of lithium hydroxide. However, the company faced growing financial difficulties and filed for bankruptcy at the end of 2019, and the project ultimately changed ownership this year.",{"type":583,"attrs":595,"content":596},{"textAlign":49},[597],{"text":598,"type":588},"Livent was previously set to receive material from the project, having agreed an offtake agreement with Nemaska in 2016 for 8,000 tonnes of lithium carbonate. However, at the start of 2019 Nemaska announced it had terminated this agreement and relations soured as Livent confirmed it would take legal action over the disputed supply deal.",{"type":583,"attrs":600,"content":601},{"textAlign":49},[602],{"text":603,"type":588},"Four years on and Livent is again set to source lithium from the Whabouchi project. But this represents a very different structure to its previous offtake agreement with Nemaska Lithium, with greater potential risks as it takes a direct stake in the hard rock operation.",{"type":583,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":588},"Livent will bring its established hydroxide expertise to the project and, along with Pallinghurst and Investissement Quebec, will be hoping to avoid the issues that Nemaska Lithium faced in developing the project.",{"type":583,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":588},"The investment community has been hesitant to invest in projects during lithium’s bear market, which has persisted since June 2018. But if Livent and its partners successfully bring this project online ready for the next growth stage in the lithium market it will place them in a strong position, ahead of any price rises.",{"type":583,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":588},"Livent’s move follows the path of the larger brine majors that have looked to hard rock sources of lithium to support their hydroxide aspirations.",{"type":583,"attrs":620,"content":621},{"textAlign":49},[622],{"text":623,"type":588},"Albemarle holds a share of the Greenbushes mine with Tianqi and the Wodgina project with Mineral Resources, while SQM has a joint share of the Mt Holland Mine with Wesfarmers.",{"type":583,"attrs":625,"content":626},{"textAlign":49},[627],{"text":628,"type":588},"Unlike its peers, which are sourcing their hard rock supply from Western Australia and processing in China, Livent’s spodumene operation is set to be closer to home in Canada.",{"type":583,"attrs":630,"content":631},{"textAlign":49},[632],{"text":633,"type":588},"This sits more comfortably in the localisation playbook, which is becoming increasingly important as western OEMs look to minimise their supply chain’s footprints.",{"type":635,"attrs":636,"content":638},"heading",{"level":637,"textAlign":49},4,[639],{"text":640,"type":588},"Expansions scaled back",{"type":583,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":588},"While this move shows Livent’s plans to secure feedstock, the company has not been immune to the pressures facing lithium producers. It carried over approximately 4,000 tonnes of inventory into 2020 on the back of slower than expected demand growth, which was approximately 10% of its total output in 2019 according to Benchmark’s Lithium Forecast.",{"type":583,"attrs":647,"content":648},{"textAlign":49},[649],{"text":650,"type":588},"In response to these oversupply pressures, and in an attempt to mitigate for the fallout from the coronavirus outbreak, Livent announced a slowdown in both its Argentinian lithium carbonate expansion and its hydroxide expansion plans in North Carolina.",{"type":583,"attrs":652,"content":653},{"textAlign":49},[654,656,664],{"text":655,"type":588},"But Livent’s investment in New Nemaska, indicates its confidence for the future dynamics of the lithium market, which ",{"text":657,"type":588,"marks":658},"Benchmark’s Lithium Forecast",[659],{"type":660,"attrs":661},"link",{"href":662,"uuid":49,"anchor":49,"target":49,"linktype":663},"https://www.benchmarkminerals.com/forecasts/#lithium","url",{"text":665,"type":588}," shows is set to move into deficit in 2022.",{"type":583,"attrs":667,"content":668},{"textAlign":49},[669],{"text":670,"type":588},"With Livent having positioned itself as a major producer of lithium hydroxide for the battery market, much of which it produces using feedstock from its brine operation at Hombre Muerto, Argentina, it hopes to benefit from upward trajectory of lithium hydroxide in high nickel cathode cells.",{"type":583,"attrs":672,"content":673},{"textAlign":49},[674,676,682],{"text":675,"type":588},"However, the hydroxide story has taken a knock this year, as the ",{"text":677,"type":588,"marks":678},"resurgence of LFP cathodes",[679],{"type":660,"attrs":680},{"href":681,"uuid":49,"anchor":49,"target":49,"linktype":663},"https://source.benchmarkminerals.com/article/lfps-resurgence-illustrates-the-nuances-of-the-electric-vehicle-supply-chain",{"text":683,"type":588}," and the ever-growing role of energy storage systems have shown carbonate will remain a key ingredient in electric vehicle batteries. Recent reports of electric vehicle recalls have also drawn attention to the greater safety risks associated with high nickel (NCM 811) cathodes.",{"type":583,"attrs":685,"content":686},{"textAlign":49},[687,693],{"text":688,"type":588,"marks":689},"News of Tesla’s plans for a lithium hydroxide processing facility in Texas",[690],{"type":660,"attrs":691},{"href":692,"uuid":49,"anchor":49,"target":49,"linktype":663},"https://source.benchmarkminerals.com/article/exclusive-tesla-becomes-first-automaker-to-enter-lithium-supply-chain-reshapes-foundations-of-china-dominated-spodumene-2",{"text":694,"type":588}," will have also been a warning for Livent, potentially setting a precedent where automakers look to enter the chemical refining stage of the supply chain.",{"type":583,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":588},"Regardless of these developments, Livent and other established lithium producers will remain critical for the next stage of the lithium market’s development, with large-scale ramping up of carbonate and hydroxide chemical production capacity required by the end of the 2030s.",{"type":583,"attrs":701,"content":702},{"textAlign":49},[703,707],{"text":657,"type":588,"marks":704},[705],{"type":660,"attrs":706},{"href":662,"uuid":49,"anchor":49,"target":49,"linktype":663},{"text":708,"type":588}," is showing that hydroxide is set to eclipse carbonate in terms of supply in 2028, with lithium carbonate supply growing 2.8x during this time and hydroxide 8.6x.","Livent and The Pallinghurst Group have formed a joint venture to acquire assets from Nemaska Lithium, and will own 50% of the newly named project, New Nemaska. The remaining 50% will be held by Investissement Quebec. Nemaska Lithium had stretched itself with capital expenditure overruns as it pursued its vertically integrated spodumene-hydroxide Whabouchi project in […]",[711],{"slug":571,"name":572,"content":712},{"job_title":574,"image":713,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"425853f1-de72-498d-97e4-ffdd236a798c\", \"id\": \"\"}-->","article",[717],{"slug":718,"name":719},"critical-minerals","Critical Minerals","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/287943243085208/2f35b021e0/bm-whabouchi-2.jpg","asset",{"alt":722,"title":722,"source":722,"copyright":722},"Nov 20, 2020","20th November 2020",[],[],1792773938233]