With batteries being the most costly component of electric vehicles (EVs), it is clear why EV makers are looking for ways to secure supply of key metals such as lithium.
Despite a current global slump, demand for EVs is expected to continue trending upward going forward as the world moves away from fossil fuels to greener sources of energy.
Current lithium producers have already committed to contracts with battery manufacturers and carmakers, but which juniors have inked deals for supply yet to come on stream? Read on to find out. All lithium stock data was current as of September 5, 2024.
Market cap: AU$1.52 billion; share price: AU$0.62
Market cap: AU$705.71 million; share price: AU$3.75
Market cap: US$680.16 million; share price: US$3.12
Lithium Americas owns 100 percent of the Thacker Pass lithium claystone project in the US, which is projected to begin production in the second half of 2027. With a mine life of 40 years, the project will have an annual production capacity of 40,000 MT per year during Phase 1 and 80,000 MT per year in Phase 2. According to estimates from the company, the lithium extracted and processed from the project will be able to support the production of up to 1 million EVs on an annual basis.
Market cap: AU$328.34 million; share price: AU$0.14
Market cap: AU$206.82 million; share price: AU$0.12
Piedmont will deliver approximately 125,000 MT of spodumene concentrate from its portion of production to Tesla from the second half of 2023 through to the end of 2025. Tesla has the option to extend the arrangement for another three years.
Market cap: C$118.46 million; share price: C$1.17
In the years to come, the company expects to source raw material from recycling discarded batteries, pledging to have 50 percent of its feedstock at its German convertors come from recycled lithium by 2030.
Market cap: C$116.61 million; share price: C$0.095
Anson Resources has two key properties under development in Utah’s resource-rich Paradox Basin: the Paradox and Green River lithium projects, both within 50 kilometers of each other. Paradox has the potential to become a significant lithium-producing operation. The project hosts a mineral resource estimate of 1.04 million MT of lithium carbonate equivalent and 5.27 million MT of bromine. Anson Resources is also conducting a major resource expansion program at Paradox.
Market cap: AU$53.13 million; share price: AU$0.038
European Lithium’s fully licensed Wolfsberg hard-rock lithium deposit in Austria is expected to start production in Q1 2025. According to a March 2023 definitive feasibility study, the asset would have an average production rate of 780,000 MT per year, peaking at 840,000 MT, over a 14.6 year life of mine. The ASX-listed company is aiming for the operation to be the first and largest local supplier of lithium hydroxide in the region.
Market cap: AU$12.69 million; share price: AU$0.053
Australia-based Greenwing Resources is a critical minerals explorer and developer that has lithium and graphite projects spread across Madagascar and Argentina.
This is an updated version of an article first published by the Investing News Network in 2023.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: European Lithium is a client of the Investing News Network. This article is not paid-for content.
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