Lithium Miners To Watch In Upcoming Years

Jan 10, 2023 | RESEARCH, MINING

Lithium Miners Poised for Success in 2024

December was a good month for lithium miners, despite dropping prices. Investors looking to get involved with these companies should be aware that these lithium miners’ mid-to-late 2020s production plans require a higher risk tolerance and longer time frame than other stocks within this industry. These lithium miners also saw plenty of progress during December.

Lithium miners

Lithium miners

Junior Lithium Miners that Could Soar in the Upcoming Years

Many lithium miners have been identified as juniors since they are likely to reach production after 2024. Let’s take a look at some of these Junior Lithium Miners.

1. Australian Companies

Liontown has made a bold commitment to the environment, signing a binding Power Purchase Agreement that will bring forth one of Australia’s largest emissions-free renewable facilities, which is the 95MW hybrid power station in Kathleen Valley. This remarkable project can produce up to 46 MW from wind and solar energy and battery storage.

  • Leo Lithium Limited [ASX: LLL]

Leo Lithium Limited recently announced remarkable results from its Danaya Resource drilling program. Among the highlights were impressive down-hole spodumene pegmatite intercepts spanning 82 meters at 1.67% Li2O, 47 meters at 2.43% Li2O, and 20 meters at 1.56% Li2O, respectively.

Vulcan Energy Resources has been making waves in the Australian lithium mining industry. Holding a staggering 15.85 million metric tonnes of Lithium Carbonate Equivalent (LCE) with an impressive average grade level of 181 mg/L, they can proudly claim to have Europe’s largest resource pool for this valuable mineral.  

AVZ Minerals is affirming its claim on the Manono Project through legal action as it seeks a declaration to solidify its 15% stake in one of the most lucrative lithium projects worldwide. By taking this step, they will clearly protect and safeguard their interests in what has become an incredibly valuable asset.

  • Global Lithium Resources [ASX: GL1]

Global Lithium Resources has made a groundbreaking discovery at Manna and Marble Bar, resulting in an immense 148.5% increase of lithium-rich resources to 50.7Mt with 1.0% Li2O content.

  • Galan Lithium [ASX:GLN]

Galan Resources Ltd. recently achieved a major milestone with their acquisition of 100% ownership in the Greenbushes South Lithium Project and will commence an exciting maiden drill program to unlock its mineral wealth.

  • Rio Tinto [ASX: RIO] [LN: RIO] (RIO)

On December 6, three iconic lithium miners – Rio Tinto, OZ Minerals, and Boliden agreed to collaborate on pioneering solutions that will lower the environmental impacts of their mines.

Essential Metals have just announced a remarkable milestone with their Pioneer Dome Lithium project boasting an impressive 11.2 million tonnes of lithium Mineral Resources containing 1.16% Li2O, making it one of the most resource-rich deposits in Australia.

  • Lithium Energy Limited [ASX: LEL]

On December 14, Lithium Energy Limited made an exciting announcement: they had encountered intersections of conductive brines in further drill holes of their Solaroz project located in South America’s captivating Argentina.

  • Winsome Resources Limited [ASX: WR1] (OTCQB: WRSLF) [FSE:4XJ] 

Winsome Resources has forged a lasting commitment with Hong Kong-based Sinomine, securing their interests in the renowned Case Lake Project. This monumental agreement solidifies Winsome’s stance as a bold and decisive leader in the mining industry.

On December 8, Neometals made an exciting announcement that would accelerate the commercial activities of Primobius. The company formed a 50:50 ownership venture with SMS group GmbH to gain access to their sought-after lithium battery recycling IP. 

2. South Korean Company

  • POSCO [KRX:005490] (PKX)

Posco is making a savvy move in the battery materials market by investing heavily in Argentina’s saltwater reserves. Last year, an extensive survey conducted by US consulting firm Montgomery & Associates revealed that these waters surprisingly contain 13.5 million metric tons of lithium which is more than what Posco initially estimated back in 2018.

3. African Company

  • Atlantic Lithium Limited [LSE: ALL] [ASX: A11] (OTCQX: ALLIF)

On December 13, Atlantic Lithium Limited took a major step forward with the award of their processing plant FEED contract to Primero. A highly-experienced Project Manager has also been appointed for the Ewoyaa Lithium project in Ghana, West Africa. 

4. American Companies

On December 20, ioneer Ltd celebrated a milestone as the Rhyolite Ridge Project reached the final stage of permitting. 

  • Lithium Power International [ASX: LPI] (OTC: LTHHF) 

LPI has taken a major leap with the purchase of water rights for their Maricunga Lithium Brine Project, fully consolidating control and setting clear pathways to harvest one of Chile’s most promising lithium sources.

  • American Lithium Corp. [TSXV: LI] (OTCQB: LIACF) (acquired Plateau Energy Metals Inc.) 

American Lithium Corp. recently announced an impressive surge in lithium reserves at their Tonopah Lithium Claims.

  • Standard Lithium [TSXV: SLI] (SLI) 

Standard Lithium is driving forward the innovative design of its first commercial-scale lithium plant, taking a major step towards reshaping how we use and access this precious mineral.

5. Austrian Company

European Lithium has sealed a powerful partnership with BMW, having successfully finalized an impressive binding lithium offtake agreement. 

6. Canadian Companies

Frontier Lithium has encountered an extensive pegmatite deposit containing whopping 126.8 million tonnes of lithium ore boasting stunning grades up to 1.79% Li2O and 459 ppm Ta2O5. 

Patriot Battery Metals is thrilled to announce their commencement of trading on the ASX, as well as a successful 113.4-meter drilling result and 79% recovery in Dense Media Separation test work while also showcasing an impressive 1.61% Lithium Oxide content.

Lithium Americas has been ambitious to acquire Arena Minerals to consolidate a highly sought-after project in the Pastos Grandes Basin. 

  • Green Technology Metals [ASX: GT1]  

Green technology Metals’ flagship Seymour is pioneering its production of high-grade spodumene concentrate and a remarkable recovery rate of lithium, topping out at 72%.

Umicore and Nano One have joined forces in a groundbreaking endeavor to develop innovative battery materials process technology. This collaboration promises exciting new possibilities with the potential to revolutionize energy storage capabilities around the world.

7. Argentina Company

Lithium South conducted a deep-level drill sample, HMN 140. This extraction was taken at 52m below the surface and returned staggering results of 725 mg/l Li, which is an exceptionally high yield.

8. Other Junior Lithium Miners

In addition to these companies, an impressive group of junior lithium miners has announced their presence in the space, including 5E Advanced Materials Inc. [ASX: 5EA] (FEAM), which has its sights set on becoming a dominant figure in the boron & lithium mining industry with an emphasis on promoting decarbonization worldwide.

Other notable junior lithium miners are American Lithium Minerals Inc. (OTCPK: AMLM), Ardiden [ASX: ADV](OTC: ARDDF), and Anson Resources [ASX: ASN] [GR: 9MY].

Lithium Price Update

Over the past month, many junior lithium miners have been impacted by the price fall. Asian Metal has reported a decrease in spot prices across major lithium derivatives. China’s Lithium Carbonate and Hydroxide dipped by 4.06% and 3.77%, respectively, while Spodumene (6%) witnessed a 1.45% fall, along with Lite Iron Phosphates by 9%.

Lithium Market Update

There is no doubt that the lithium market is growing as the demand for sustainable and greener energy requiring lithium minerals increases. This has been beneficial to junior lithium miners working on smaller projects around the world. 

Goldman Sachs expects lithium prices to climb higher due to the Congress passing the US Climate Bill. Canada has also made strides with their $3.8-billion Critical Minerals Strategy, which will help speed up new projects related to these elements crucial for clean inclusive growth worldwide.

Meanwhile, Tesla co-founder J B Straubel’s Redwood Materials plans on investing heavily in battery recycling plants around South Carolina, USA – further adding value towards modernizing the energies of today’s generation.  

In contrast, Australia anticipates an eventual pullback in 2024 regarding supply & demand regarding production costs associated with mining these materials.