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Ultra Lithium, Power Metals respond to Government of Canada’s order for Chinese divestment in critical minerals

Green Car Congress

The Government of Canada has ordered three Chinese companies to divest from three Canadian critical mineral companies: Power Metals, Lithium Chile, and Ultra Lithium. Power Metals also expressed surprise at “Canada’s stance towards Chinese investment into Canada’s critical minerals industry”. Earlier post.)

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Copper prices rise to 10-year high, near record

Green Car Congress

Total Chinese stocks (658kt) are equivalent to 2.6 Chinese refined consumption rebounded 18% YOY in Q1 2021. Goldman Sachs and Robert Friedland, Founder of Ivanhoe Mines, suggest prices of US$15,000/t might be seen by 2025, due to restricted supply and bullish demand growth. These stocks, however, currently represent only 1.9

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LME copper prices at 9-year high

Green Car Congress

Total visible copper stocks (LME + COMEX + SHFE + Chinese bonded warehouses) amounted to just 560kt at the end of January, noted critical materials supply chain intelligence company Roskill—only 11kt more than the lowest recent stock level of 549kt in December 2019.

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It’s too late to China-proof the lithium supply chain – ET Auto

Baua Electric

Parts of our key supply chains, including for clean energy, are currently over-concentrated in China,” US Treasury Secretary Janet Yellen said earlier this month during a visit to Chile, home to the largest lithium reserves. the Charlotte, North Carolina-based miner whose processing plant Yellen visited during her trip to Chile.

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Another Tesla price cut possible thanks to plummeting lithium prices

Teslarati

Several factors have likely helped push Chinese lithium to its meager price. Foremost, the Chinese government recently ended incentives for electric vehicles, which has slightly slowed their adoption in recent weeks.

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Tesla battery supplier CATL plans to acquire lithium mining company in Canada

Teslarati

Chile, Argentina, and Bolivia make up the “Lithium Triangle,” holding more than 75% of the world’s lithium supply in their salt flats. Millennial Lithium may help CATL streamline its supply chain for battery production. Earlier this year, CATL extended its battery supply deal with Tesla.

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China’s economic stimulus to spark robust copper consumption in 2024 – ET Auto

Baua Electric

The Chinese government’s potential moves, including lowering the Required Reserve Ratio (RRR) for major banks, could further energize metal demand and support copper prices. The report also highlights that global copper supply may face disruptions due to issues in major producing countries like Chile , Peru, and Panama.