Lithium miner news for the month of january 2017 – global x lithium etf (nysearca_lit) _ seeking alpha


On January 4, Seeing Alpha via Newswire reported, “Albemarle receives final approval to expand lithium operations in Chile. Usd to jpy The amended agreement provides Albemarle with sufficient lithium to produce over 80,000 MT annually of technical and battery grade lithium salts over the next 27 years at its expanding battery grade manufacturing facilities in La Negra, Antofagasta, Chile.” The problem is the deal is not good for Albermarle, with a tiered payment share, maximizing once they sell lithium carbonate over USD10,000/t when they are required to pay the Chilean government 40%. 10101 binary Little wonder Albermarle and SQM are both expanding outside of Chile. Gold chart 2016 Albermarle had previously discussed plans to bring on around 20ktpa via its planned La Negra (Chile) processing plant in 2018.

They also plan a new lithium processing plant (with Tianqi) at Kwinana in Western Australia, capable of processing around 160ktpa of spodumene (from their JV Greenbushes mine) to become 24 ktpa of lithium hydroxide) from late 2018. Usd to yen conversion We can see from the news above Albermarle are making moves to expand their lithium production.

On January 13, SQM released a document titled Essential Fact, wherein SQM stated, “the Company has agreed to pay a penalty of 15 million dollars, as a consequence of the violation of sections 13(2)(A) and (B) of the U.S. Stock market futures definition Securities Exchange Act relating to the bookkeeping and internal accounting control systems required of securities issuers in the United States.” The mater was “in relation to the investigations by such agencies (SEC, DOJ) of facts related to payments to providers and entities that were tied to persons with political exposure between 2008 and 2015.”

On the positive side, SQM were also beneficiaries (being JV partner in Salar de Cauchari with LAC) of the recent deals done by LAC with Gangfeng and Bangchak (see below in LAC section).

No new news from Tianqi. Binary pdf Investors are reminded that Tianqi will benefit as JV partner (with Albermarle) in the Kwinana lithium conversion plant planned for Western Australia (discussed above), as well as their 2016 purchase of 2.1% of SQM. Commodity definitions Tianqi own 51% of the Greenbushes mine in Western Australia, with Albermarle owning 49%.

On January 3, Galaxy announced, “that following the successful recommissioning of the Mt Cattlin project, it has loaded its first shipment of lithium concentrate at the Esperance Port in Western Australia. Fx rate cad usd A total of approximately 10,000mt was loaded on the NY Trader 1 bound for Lianyungang Port in China.”

On January 19, Galaxy announced that they had, “secured debt facility of up to US$40 million executed with tier one bank BNP Paribas, to be utilised for repayment of existing OCP Asia facilities and for general corporate purposes. Euro to aud chart Key terms of the facility provide Galaxy with a highly flexible and competitively priced finance package.”

• 2017 – Mt Cattlin production ramp up to at least 160ktpa. Us to rmb exchange rate This will significantly increase earnings. Rmb conversion to usd Also, Galaxy has AUD 214 million in unused tax losses, so it is unlikely to pay any income tax for a few years.

Some news I missed back in November 2016, when Altura reported: “A strategic agreement with Kairos Minerals.” Altura “recently signed a Letter of Agreement with Kairos Minerals (ASX: KAI – “Kairos”) at Kairos ‘ Wodgina East Project, located approximately 15km west of Altura’s 100% owned Pilgangoora Lithium Project. Dollar rupee exchange rate today Under the terms of the agreement, Altura has an exclusive right to explore for lithium for a five (5) year period on the Kairos’ Wodgina East tenements comprising E45/4780 and E45/4715. Yen to usd It includes an extensive pegmatite field with well-documented lithium (spodumene) mineralization and grades of up to 1.6% Li2O reported from historical reconnaissance rock chip sampling. Us stock market today In return, Altura is to make an upfront cash payment of $100,000 to Kairos. Funny quotes about love and life In addition, Altura may choose to acquire a 75% interest in the Wodgina East tenements by spending a total of $1.25 million over 5 years, or at any time in that 5 year period by paying $1.25 million less the cost of any exploration or mining expenditure undertaken by Altura on the tenements. Exchange rate pound to us dollar If Altura takes up these rights, then Kairos will retain a 25% free carried interest in the tenements.” Good move from Altura to secure potentially more lithium at a nearby location.