33.3 C
Supported byspot_img

Rare Earth Minerals after Czech lithium property development quietly covers the lithium bases

Member of Europium Groupspot_img
Supported byspot_img

It owns 19.8% of European Metals, the owner of the potential huge Cinovec deposit in the Czech Republic, just a little distance away from the plants of the giant European car makers.
Lithium batteries have emerged as a favoured solution for electric vehicles

As momentum behind electric cars grows, so does interest in how these vehicles are going to be powered.

Lithium batteries have emerged as a favoured solution and in the wake of projections of huge demand for the lightweight metal, a jostling for position among potential suppliers is getting underway.

Supported by

Rare Earth Minerals PLC has already made its move and in March added Australia to a portfolio of stakes in sizeable lithium prospects in Mexico and the Czech Republic.

REM will pay will pay C$300,000 through a share subscription for a 15.5% stake in Toronto-listed MacArthur Minerals.

MacArthur has applied for ten prospective lithium exploration licences covering 946sq km in the Pilgangoora district, the Eastern Pilbara, and the Mid-West region of Western Australia.

The Eastern Pilbara prospects contain pegmatite deposits similar to those under development by Aussie–listed Pilbara Minerals and Altura Mining.

Small stake big potential

Taking small, non-controlling stakes in deposit owners is the Rare Earth way.

It owns 19.8% of European Metals, the owner of the potential huge Cinovec deposit in the Czech Republic, just a little distance away from the plants of the giant European car makers.

Cinovec has just had its resource upgrade by European Metals to a total resource of 5.7Mt contained in 532Mt of ore with a further 3.4-5.3Mt in exploration targets.

Indicated resources amount to 0.5Mt of lithium from 49.1Mt of ore at a grade of 0.43%.

Down Mexico way

It is a similar story in Mexico where through a 17.2% stake in Bacanora Minerals and direct stakes in two tenements, REM has a decent-sized interest in the Sonora deposit.

The project now houses an indicated estimate of 259 Mt for 4.5 Mt of LCE, while the inferred resource is 160 Mt averaging 3,200 ppm Li for 2.7 Mt of LCE.

REM also has a 30% free carried interest to bankable feasibility study on the Yangibana Rare Earth Minerals Project, Australia and four rare earths exploration licences in Greenland.

Board changes

Originally one of the many companies in the stable of serial small cap promoter David Lenigas, that changed in December when he stood down as chairman to be replaced by Andrew Suckling.

Since then, newsflow has been steady as the projects push on but until it gets to a production decision catalysts for the share price are likely to come from outside.

Tesla the touchstone

Electric car maker Tesla for instance is seen as the touchstone for the lithium battery business.

Tesla’s ambitious plans are to produce 500,000 cars in 2018, but if its plans for extending battery performance can be brought to fruition that may be only the tip of iceberg for lithium demand as the mainstream manufacturers speed up their own plans.


Supported byElevatePR Digital

Related News

CATL explores $1.5 billion fund to boost global battery supply chain

China's Contemporary Amperex Technology (CATL), the world's largest electric vehicle battery manufacturer, is in discussions with overseas sovereign wealth funds and private offices of...

Securing Europe’s critical raw materials: Addressing funding challenges for sustainable extraction

Bernd Schäfer, CEO of EIT Raw Materials, advocates for substantial investment in Europe's mining sector following the implementation of the Critical Raw Materials Act...

Strengthening global sustainability: The SCMA and critical minerals for climate goals

Canada's Minister of Energy and Natural Resources, Jonathan Wilkinson, together with Sweden's Minister for Energy, Business and Industry, Ebba Busch, announced Sweden's accession to...

Nickel mining and the green energy challenge: Balancing supply with environmental responsibility

Nickel is poised as a critical element in the global shift towards green energy, yet its extraction poses significant environmental challenges, recently highlighted by...
Supported by
Supported by
Supported by
error: Content is protected !!