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Friday Five

11th Aug 2022

European Lithium has inked its first-ever offtake agreement with BMW, supplying the luxury automaker with battery-grade lithium hydroxide from its Wolfsberg Lithium Project in Austria.

 

This is a major milestone for the company and a key win for the EV transition supply chain, as it allows EUR to focus on final development stages of the Wolfsberg project while building a portfolio of prospective battery metal projects across Europe.

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Wealth Minerals Ltd. has partnered with Thyssenkrupp Mining Technologies to develop their Ollagüe Salar Lithium exploration project in Chile.

 

The two companies will collaborate to select the most beneficial and environmentally sustainable processing technology for lithium extraction and purification treatment, develop the project from exploration to commercial scale production, and define new standards in green mining.

 

The goal of this strategic partnership is to establish the project as a leading benchmark of green mining in lithium brine resource development.

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The traditional carmakers are behind in the race to electrify their fleets, as they have been slow to invest in battery cell production.

This may be due to a lack of expertise in this area, as former boss Matthias Müller has stated. The raw material costs for batteries are soaring, and China has a monopoly on the supply. This may cause difficulties for non-Chinese car manufacturers as they attempt to power their electric cars.

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CATL is planning to invest in a new battery project in Hungary, with a total investment of up to 7.34 billion euros.

 

This follows other recent announcements from the company on new battery sites, including a 14 billion yuan investment in east China's Shandong province and a 13 billion yuan battery project in Fujian province.

 

CATL is also considering an investment of up to $5 billion in either Mexico or the US, though that announcement has been delayed.

Stanford battery researchers are hard at work developing new and innovative battery technologies that have the potential to improve our daily lives.

 

They are investigating ways to improve battery degradation, reduce the environmental toll of battery production and disposal, and improve the performance of next-generation batteries.

 

Their research could make a real difference in the way we live.

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