Highly Reactive: Could Sodium Ease Battery Market Pressures?
Some say ‘Na’: Sodium seeking energy storage stature
In a time of instability amongst various critical battery metals, the emergence of non-critical alternatives is all but inevitable, industry sources say.
And sodium-ion batteries are a top contender and alternative for lithium-ion batteries, as supply deficits for the latter continue to grow, IDTechEx Senior Technology Analyst Shazan Siddiqi says.
Speaking to Mining.com.au, Siddiqi suggests sodium, which can be used for the development of sodium-ion batteries (Na-ion), could alleviate the supply pressures of the battery market.
“An opportunity does exist from a potential shortage of lithium supply in the medium-term, given the lack of necessary investment into raw material extraction. While there is sufficient lithium resource to meet forecast demand from lithium-ion before accounting for recycling, the capacity to mine this lithium has not grown at the necessary rate, offering an opportunity for alternative chemistries in the medium and long-term.
Sodium-ion batteries are beginning to become increasingly relevant in 2024 after many mass production announcements were made in 2023. OEMs may look to alternative chemistries to reduce reliance on critical minerals, with potentially volatile supply chains.”
True North Copper signs Glencore offtake agreement
True North Copper (ASX:TNC) has signed binding offtake and toll-milling agreements with global diversified natural resource company Glencore (LON:GLEN) for its Cloncurry Copper Project.
True North Copper Managing Director Marty Costello says executing the agreements with an industry major such as Glencore is a significant milestone for True North Copper.
Glencore has agreed to purchase 100% of the copper metal produced at the project, where True North can process up to 1 million tonnes of ore each year through a nearby processing plant.
“CCP is fully permitted and TNC is on track to soon be in production for copper with CCP located in a tier-one jurisdiction. TNC’s investment thesis since listing last year has only improved, and we are excited to demonstrate this in the weeks and months to come."
‘It’s a huge deposit’: Black Canyon’s Brendan Cummins on the manganese potential at Balfour
With two new Exploration Target Estimates now published within the Balfour Manganese Field, Black Canyon (ASX:BCA) Executive Director Brendan Cummins says the company is looking towards end-users and potential partnerships to help diversify the global supply of this important but lesser-known metal.
Impact Minerals expediting Caligula drilling campaign
Impact Minerals (ASX:IPT) is expediting work programs to identify specific drill targets with follow-up aircore (AC) drilling to be launched soon at the Caligula prospect, as part of its wholly owned Arkun Project in Western Australia.
An infill and extensional soil geochemistry survey is in progress to better define the scale and size of Caligula, and, a detailed interpretation of the airborne magnetic, EM and MMT data is also in progress.
Impact intends to drill Caligula and other significant targets such as Hyperion, Swordfish, and other target areas as soon as practicable in 2024. The drilling timing will depend on statutory approvals and, in particular, landholder consent, but it is planned for Q2 to Q3 this year.
The $34.37 million market capitalisation company says drilling is being designed after the company announced today (24 January 2024) it has flagged a ‘large, significant’ target for porphyry copper mineralisation in soil geochemistry data.
Viking reaps rewards of fruitful Q4 2023
Viking Mines (ASX:VKA) has identified areas for further growth in 2024 following a December 2023 quarter dedicated to levelling up its Canegrass Battery Minerals and First Hit Lithium and Gold projects in Western Australia.
On 20 November last year, Mining.com.au reported the $13.32 million market capitalisation company had delivered a JORC 2012 Mineral Resource Estimate (MRE) increase of 103% for Canegrass, which now contains 2.2 billion pounds of critical mineral vanadium pentoxide (V2O5).
Industry consultants MEC Mining completed the MRE update and was the product of an ‘extensive’ exploration program undertaken by Viking after acquiring the project in November 2022.
‘The highest value of them all’: ABx’s Dr Mark Cooksey on dysprosium and terbium within Wind Break
ABx Group (ASX:ABX) has posted ‘high-grade’ rare earth element (REE) results from maiden REE drilling at the Wind Break deposit in Tasmania which confirm the 100km-square exploration target area. CEO and MD Dr Mark Cooksey tells Mining.com.au this is the first drilling campaign ABx has actually done at Wind Break for rare earths specifically. So far, it is returning similar results to what ABx has been finding at the Deep Leads-Rubble Mound REE resource.
“Our ionic adsorption clay rare earths resources are exceptionally enriched in the two most critical rare earths, namely dysprosium and terbium, and the Wind Break discovery continues this pattern.”
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Toro Energy: bull-ish by name, bullish by nature
Its steady price gains throughout 2023 have in recent weeks turned into an all-out bull run, sparked partly by a warning in mid-January by the world’s largest producer, Kazatomprom, that it was likely to fall short of its production targets over the next two years. The Kazakhstan-based company, which accounted for 23% of global uranium production in 2022, cited poor supplies of sulphuric acid and delays in developing new deposits as factors that might make meeting its targets “challenging”.
The news followed a similar update from Cameco (TSX:CCO) in early September, in which the Canadian company — the world’s second-largest producer, accounting for 12% of global production — said challenges at its Cigar Lake and Key Lake operations were expected to impact its 2023 production figures.
But the volatility has been good for price buoyancy. Not only did uranium blast through the US$100-a-pound ceiling for the first time since 2007, but uranium-related stocks have also been climbing since the start of 2024 — Deep Yellow (ASX:DYL) by 34%, Bannerman Energy (ASX:BMN) and Paladin Energy (ASX:PDN) by roughly 23%, and Boss Energy (ASX:BOE) by 30%, as of Friday, 19 January.
‘Keep working hard’: Torque Metals’ Cristian Moreno on a new addition and a renewed focus
Torque Metals (ASX:TOR) is looking to deliver a maiden exploration target by early February at its New Dawn Lithium Project after completing the acquisition of the Penzance tenement package. Managing Director Cristian Moreno tells this news service the addition of lithium to Torque’s portfolio has elevated the company to an even more attractive investment proposition to the market. He says Torque now has an ‘amazing’ 800km-square of land exposed to 3 commodities – gold, nickel, and lithium – “and the idea is to explore these tenements as quickly as possible”.
Redstone Resources: riding the Canadian lithium wave
Of the companies likely to be strapping in for a big one in 2024, Redstone Resources (ASX:RDS) — freshly on the other side of a busy year in 2023 — is surely one.
Not only did the Perth-based explorer make good headway at its flagship West Musgrave Project in Western Australia, but it added a suite of Canadian lithium assets to its portfolio, ushering in — according to Redstone’s annual report published at the end of October — “a transformational period for the company.”
The deployment of a greater focus on lithium, Redstone added, falls in line with its broader plans to establish itself as an emergent player in the battery minerals game. But in order to understand that aspiration and just how achievable it might be, one needs to understand how Redstone got here in the first place.
Aurora Energy Metals: Capitalising on the aura of a charged-up uranium market
Managing Director Greg Cochran tells Mining.com.au the company believes the conclusion of a ‘successful’ Scoping Study will lead to broader recognition of its flagship project’s inherent value. He says while the recent high in price is ‘great’ for those in the industry like him ‘who have a longer memory than 2007’ the latest move has been a historic one. “The reality is, this is only the second time in history that the uranium spot price has breached US$100 per pound.”
Having ‘dabbled’ in uranium as a student in the 1980s and throughout the 1990s until today, Cochran says with having a longer perspective of uranium ‘it’s so exciting to see where it is today’. He says the sector has managed to ‘capture the early money’ with some large funds such as Sprott Asset Management getting involved, however the more broader industry funds are only now becoming interested.
“Importantly, Mandilla just keeps delivering thick, high-grade intersection and we're really looking forward to growing our mineral resources at the Mandilla Project."
'The funding is non-dilutive, and we also get access to BHP's world-class networks and expertise,' says Hamelin Gold MD Peter Bewick.
Aruma Resources (ASX: AAJ) MD Glenn Grayson discusses the highest REE grades to date posted from the company's project in WA. Listen on to uncover what these results mean for the company heading into 2024.
Impact Minerals (ASX:IPT) MD Dr Mike Jones believes the company is on the right path towards a porphyry copper discovery at its project in WA after defining a new prospect.