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Australia?","will-midstream-go-mainstream-in-australia","article/will-midstream-go-mainstream-in-australia",{"_uid":547,"date":548,"tags":549,"editor":562,"content":572,"excerpt":892,"featured":51,"reporter":893,"_editable":897,"component":898,"seo_title":543,"categories":899,"visibility":908,"author_company":49,"featured_image":909,"seo_description":892,"author_full_name":49,"author_job_title":49,"formattedDate":914,"formattedArticleDate":915},"14b052e6-db30-4067-b43f-f1e121bc812f","2023-08-22 00:00",[550,553,556,559],{"slug":551,"name":552},"australia","Australia",{"slug":554,"name":555},"liontown-resources","Liontown Resources",{"slug":557,"name":558},"mineral-resources","Mineral Resources",{"slug":560,"name":561},"pilbara-minerals","Pilbara Minerals",[563],{"slug":564,"name":565,"content":566},"didi-bostock","Didi Bostock",{"job_title":567,"image":568,"bio":570,"linkedin":571},"Editor - Energy Transition & Economics",{"filename":569},"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":573,"content":574},"doc",[575,600,621,634,639,644,649,654,663,670,675,680,685,690,695,700,721,726,731,736,741,751,756,761,766,787,792,804,809,814,819,824,829,834,847,852,857,877,882,887],{"type":576,"attrs":577,"content":578},"paragraph",{"textAlign":49},[579,582,590,592,598],{"text":580,"type":581},"A number of lithium miners in ","text",{"text":583,"type":581,"marks":584},"Australia have made moves",[585],{"type":586,"attrs":587},"link",{"href":588,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/australia-looks-to-boost-domestic-mineral-processing-industry-with-676-million-fund","url",{"text":591,"type":581}," towards the midstream of ",{"text":593,"type":581,"marks":594},"lithium chemical production",[595],{"type":586,"attrs":596},{"href":597,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/who-will-own-lithium-chemical-production-in-2030",{"text":599,"type":581}," this month.",{"type":576,"attrs":601,"content":602},{"textAlign":49},[603,605,611,613,619],{"text":604,"type":581},"Australia is forecast to produce ",{"text":606,"type":581,"marks":607},"two-fifths of the world’s mined lithium",[608],{"type":586,"attrs":609},{"href":610,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/australia-on-course-to-remain-number-one-lithium-producer-to-2030",{"text":612,"type":581}," year, but only 1.2% of the lithium chemicals, according to ",{"text":614,"type":581,"marks":615},"Benchmark’s Lithium Forecast",[616],{"type":586,"attrs":617},{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://www.benchmarkminerals.com/forecasts/lithium",{"text":620,"type":581},".",{"type":576,"attrs":622,"content":623},{"textAlign":49},[624,626,632],{"text":625,"type":581},"Currently most lithium miners in Australia produce spodumene concentrate, a material with around 6% lithium content. This is primarily shipped to China which is forecast to produce 65% of ",{"text":627,"type":581,"marks":628},"lithium chemicals globally",[629],{"type":586,"attrs":630},{"href":631,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/infographic-chinas-lithium-ion-battery-supply-chain-dominance",{"text":633,"type":581}," this year.",{"type":576,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":581},"“The two main barriers for Australian companies to enter downstream chemical production would be firstly higher capital costs and second a lack of skilled workforce,” Cameron Perks, an analyst at Benchmark, said.",{"type":576,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":581},"This month, Australian miners Mineral Resources and Pilbara Minerals furthered their plans to produce lithium chemicals in Australia and Liontown Resources looked to develop a lithium supply chain between Australia and Japan.",{"type":576,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":581},"This could be a sign that Australia is ready to move beyond lithium mining and into the midstream and bring with it a multitude of benefits.",{"type":576,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":581},"“Going downstream doesn’t just help at the corporate level, society and governments alike are set to benefit with a greater level of job creation and eventual royalty revenue as well,” Perks said.",{"type":576,"attrs":655,"content":656},{"textAlign":49},[657],{"type":658,"attrs":659},"image",{"id":49,"alt":660,"src":661,"title":49,"source":49,"copyright":49,"meta_data":662},"Australia's lihtium mining vs lithium chemicals production forecast","https://a.storyblok.com/f/287943243085208/a1d90799fa/bm-mine-v-refine.png",{},{"type":664,"attrs":665,"content":667},"heading",{"level":666,"textAlign":49},4,[668],{"text":669,"type":581},"Recent moves into lithium chemical production",{"type":576,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":581},"Mineral Resources, an Australian spodumene miner, said it will invest up to A$4.5 million ($2.9 million) to develop and operate a pilot plant to investigate a novel method of producing lithium phosphate referred to as LieNa.",{"type":576,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":581},"This process, developed by Lithium Australia, uses spodumene fines which are typically sent to tailings deposits as it is a waste product in  traditional spodumene concentration processes.",{"type":576,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":581},"Lithium phosphate can be used in the production of lithium iron phosphate (LFP) cathode material or further processed to lithium carbonate or lithium hydroxide.",{"type":576,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":581},"In China, most LFP cathode production uses a solid-state synthesis process using lithium carbonate as the feedstock. Rob Burrell, an analyst at Benchmark, suggests that some developers may look at using lithium phosphate directly as a promising route.",{"type":576,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":581},"Pilbara Minerals is also looking to produce lithium phosphate. A demonstration plant is planned at its Pilgangoora mine site with technology developer Calix. The plant will produce lithium phosphate using Calix’s electric calcination technology. A Financial Investment Decision for the plant was passed this month.",{"type":576,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":581},"Also this month, Liontown Resources reached an agreement with Sumitomo Corporation, a Japanese conglomerate. Through the partnership, the feasibility of converting spodumene from Liontown’s Kathleen Valley mine site into lithium hydroxide in Japan will be assessed.",{"type":576,"attrs":701,"content":702},{"textAlign":49},[703,705,711,713,719],{"text":704,"type":581},"In May, ",{"text":706,"type":581,"marks":707},"Albemarle",[708],{"type":586,"attrs":709},{"href":710,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/albemarle-looks-to-acquire-more-lithium-resources-to-secure-post-2030-supply",{"text":712,"type":581}," announced it planned to invest at least $1 billion to double the capacity of its ",{"text":714,"type":581,"marks":715},"Kemerton lithium hydroxide production facility ",[716],{"type":586,"attrs":717},{"href":718,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/albemarle-plans-to-double-kemerton-hydroxide-capacity-as-australian-lithium-chemical-production-ramps-up",{"text":720,"type":581},"in Australia to 100,000 tonnes per year.",{"type":576,"attrs":722,"content":723},{"textAlign":49},[724],{"text":725,"type":581},"The facility was operated as a joint venture between Albemarle and Mineral Resources. However, last month the two companies reached an agreement in which Albemarle would take complete ownership of the plant. Mineral Resources will also not invest in any of Albemarle’s Chinese assets.",{"type":576,"attrs":727,"content":728},{"textAlign":49},[729],{"text":730,"type":581},"There are many factors that can influence whether it is viable for a miner to move downstream: ",{"type":576,"attrs":732,"content":733},{"textAlign":49},[734],{"text":735,"type":581},"“Spodumene miners and project developers would be wise to at least consider a scoping study downstream to show their investors and offtakers they are covering off all of their bases,” Perks said.",{"type":664,"attrs":737,"content":738},{"level":666,"textAlign":49},[739],{"text":740,"type":581},"Competing against China",{"type":576,"attrs":742,"content":743},{"textAlign":49},[744,746],{"text":745,"type":581},"Although 41% of mined lithium is forecast to come from Australia this year, the country will account for only 1.2% of lithium chemical production, according to ",{"text":747,"type":581,"marks":748},"Benchmark’s Lithium Forecast.",[749],{"type":586,"attrs":750},{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":589},{"type":576,"attrs":752,"content":753},{"textAlign":49},[754],{"text":755,"type":581},"China, by contrast, is forecast to produce just 18% of mined lithium but 65% of lithium chemicals this year.",{"type":576,"attrs":757,"content":758},{"textAlign":49},[759],{"text":760,"type":581},"Part of the reason China became dominant in the lithium ion battery industry was the generous tax incentives and strong policy direction China gave, and continues to give.",{"type":576,"attrs":762,"content":763},{"textAlign":49},[764],{"text":765,"type":581},"“In terms of capital cost, I believe that is just a commonly known fact about building in Australia or indeed other western nations, particularly when you consider that Chinese capital is subsidised by the government,” Perks said.",{"type":576,"attrs":767,"content":768},{"textAlign":49},[769,771,777,779,785],{"text":770,"type":581},"Through the ",{"text":772,"type":581,"marks":773},"Inflation Reduction Act",[774],{"type":586,"attrs":775},{"href":776,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/opinion-what-will-be-the-eventual-cost-of-the-us-inflation-reduction-act",{"text":778,"type":581},", the US is following in these footsteps offering production tax credits. Europe is pursuing its ",{"text":780,"type":581,"marks":781},"Critical Raw Materials Act",[782],{"type":586,"attrs":783},{"href":784,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/opinion-critical-raw-materials-act-europes-attempt-to-have-both-quality-speed",{"text":786,"type":581}," to help boost production.",{"type":576,"attrs":788,"content":789},{"textAlign":49},[790],{"text":791,"type":581},"“In that respect,” Perks said, “Australia probably does need some sort of higher level of government investment tax rebates and so on, to compete.”",{"type":576,"attrs":793,"content":794},{"textAlign":49},[795,797,802],{"text":796,"type":581},"Earlier this year, Australia released its ",{"text":798,"type":581,"marks":799},"Critical Minerals Strategy",[800],{"type":586,"attrs":801},{"href":588,"uuid":49,"anchor":49,"target":49,"linktype":589},{"text":803,"type":581}," which aims to attract A$500 million ($338 million) of new investments into critical minerals projects, and establish a fund to provide A$1 billion ($676 million) for value-added projects.",{"type":576,"attrs":805,"content":806},{"textAlign":49},[807],{"text":808,"type":581},"Mineral Resources has been lobbying for tax concessions, according to Perks.",{"type":576,"attrs":810,"content":811},{"textAlign":49},[812],{"text":813,"type":581},"The partnership between Calix and Pilbara Minerals to investigate the electric calcination technology is supported by A$20 million grant from Australia’s Modern Manufacturing Initiative awarded in May last year.",{"type":664,"attrs":815,"content":816},{"level":666,"textAlign":49},[817],{"text":818,"type":581},"Building a workforce",{"type":576,"attrs":820,"content":821},{"textAlign":49},[822],{"text":823,"type":581},"Through its prolonged dominance of lithium chemical production, China has a highly skilled workforce that is difficult to compete with.",{"type":576,"attrs":825,"content":826},{"textAlign":49},[827],{"text":828,"type":581},"“Australia has skilled labour of course but it would be a long time before they are trained to a sufficient level so they could compete in terms of knowledge and efficiency,” Perks said.",{"type":576,"attrs":830,"content":831},{"textAlign":49},[832],{"text":833,"type":581},"One way to make the move downstream easier is for Australian companies to partner up with Chinese companies to maximise on their knowhow.",{"type":576,"attrs":835,"content":836},{"textAlign":49},[837,839,845],{"text":838,"type":581},"This is what IGO, an Australian miner, did through ",{"text":840,"type":581,"marks":841},"partnering up with China’s Tianqi Lithium",[842],{"type":586,"attrs":843},{"href":844,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/lithium-majors-tianqi-and-sqm-make-swoop-for-australian-juniors",{"text":846,"type":581},". However, Tianqi found that what works in China doesn’t necessarily translate to other countries.",{"type":576,"attrs":848,"content":849},{"textAlign":49},[850],{"text":851,"type":581},"“Tianqi thought that they could simply use their blueprints from China and apply what they know to Australia, including their ability to train staff, but they did not plan for things like [occupational health and safety] laws,” Perks said.",{"type":664,"attrs":853,"content":854},{"level":666,"textAlign":49},[855],{"text":856,"type":581},"Competitive on sustainability",{"type":576,"attrs":858,"content":859},{"textAlign":49},[860,862,868,870,876],{"text":861,"type":581},"Benchmark’s Lithium Forecast and ",{"text":863,"type":581,"marks":864},"Lithium ESG Report",[865],{"type":586,"attrs":866},{"href":867,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://www.benchmarkminerals.com/esg/lithium",{"text":869,"type":581}," show that 54% of Australia’s mined lithium production this year is associated with “Benchmark Approved” producers–that is, producers who meet all of ",{"text":871,"type":581,"marks":872},"Benchmark’s ESG criteria",[873],{"type":586,"attrs":874},{"href":875,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/benchmark-ranks-lithium-producers-in-new-esg-report",{"text":620,"type":581},{"type":576,"attrs":878,"content":879},{"textAlign":49},[880],{"text":881,"type":581},"This compares to 0% in China.",{"type":576,"attrs":883,"content":884},{"textAlign":49},[885],{"text":886,"type":581},"“[Australia] is competitive when it comes to sustainability and transparency,” Perks said.",{"type":576,"attrs":888,"content":889},{"textAlign":49},[890],{"text":891,"type":581},"Sustainability-minded miners moving into chemical production “may, in some way, also help with conversations with downstream players,” Perks said. “Like OEMs, who want greater level of transparency, simplicity, and lower levels of reliance on China for their lithium procurement.”","A number of lithium miners in Australia have made moves towards the midstream of lithium chemical production this month. Australia is forecast to produce two-fifths of the world’s mined lithium year, but only 1.2% of the lithium chemicals, according to Benchmark’s Lithium Forecast. Currently most lithium miners in Australia produce spodumene concentrate, a material with […]",[894],{"slug":564,"name":565,"content":895},{"job_title":567,"image":896,"bio":570,"linkedin":571},{"filename":569},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"14b052e6-db30-4067-b43f-f1e121bc812f\", \"id\": \"\"}-->","article",[900,903,906],{"slug":901,"name":902},"critical-minerals","Critical Minerals",{"slug":904,"name":905},"geopolitics","Geopolitics",{"slug":907,"name":8},"lithium","private",{"id":49,"alt":910,"name":910,"focus":910,"title":910,"source":910,"filename":911,"copyright":910,"fieldtype":912,"meta_data":913,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/50e807439e/bm-kemerton-expansion-project-2.jpg","asset",{"alt":910,"title":910,"source":910,"copyright":910},"Aug 22, 2023","22nd August 2023",[],[],1784908379361]