Australia, March 9, 2022
Litherium Australia Mining joined hands with a well-known mining exploration company on March 3, 2022 after acquiring a strategic nickel mine in January. The company’s two nickel-cobalt mines are being integrated with Litherium Australia Mining. At this stage, the mining rights have obtained about 11 million tons of nickel and cobalt reserves, of which the nickel reserves are about 90,000 tons with a grade of 0.85% and a value of about A$2.06 billion, while the cobalt reserves are about 6,000 tons with a grade of 0.058% and a value of about A$440 million.
The group will start preparations for listing in April this year and plans to list on the Australian Stock Exchange (ASX) to carry out the next stage of exploration, mining and sales of the company’s mineral rights. At that time, the group will officially enter the “nickel-cobalt new energy era” and intends to co-operate with world-renowned listed new energy companies such as Tesla, Toyota, BYD and LG, as well as the world’s leading electric vehicle giants and lithium-nickel battery manufacturers.
With the implementation of the global decarbonisation concept, low-carbon and environmentally friendly new energy vehicles have gradually become popular, and the market demand for new energy batteries used in automobiles has grown rapidly. According to the Deloitte research report, the global new energy battery market demand is expected to reach 122.3 billion watt hours in 2025. The price of new energy battery raw materials continues to rise, the lithium-nickel battery sector is growing strongly, the development of new energy is unstoppable, and nickel as the main raw material is ushering in a new era.
Nickel is an important raw material in the production of energy storage batteries and is also used in medical devices and other fields. Currently, the two most widely used lithium-ion batteries are composed of 80% nickel and a small amount of cobalt. In general, the higher the nickel content, the greater the energy density of the battery cell, and thus the greater the cruising range of electric vehicles. Nickel resources are relatively scarce when compared to lithium, making it a popular location for new energy companies to expand their operations.
According to Reuters, Tesla, a world-renowned sustainable energy company, has called on global nickel miners to increase their mining volumes.
‘Please Mine More Nickel’, Musk Urges as Tesla Boosts Production
As Tesla CEO Elon Musk has said, “Mining companies, please mine more nickel. If you mine nickel efficiently and in an environmentally friendly way, Tesla will give you a long-term huge contract.”
In addition to Tesla, LG Energy, a leading Korean battery company, has also long cooperated with Australia’s nickel-cobalt smelting company to ensure continuous nickel supply for the next 10 years.
Litherium Australia Mining Group is a Western Australia-based professional mineral exploration, development and mining integration operation company, providing new energy-related mineral resources for global new energy and battery manufacturers.
In 2021, with the help of SMK Trust Partners Group, using blockchain technology and Binance Smart Chain to issue 50 million Litherium tokens (never additional issuance), in November the Litherium tokens increased in value by 30 times, which was favourable to many investors and laid a solid foundation for the development of the company. In the future, the Litherium Australia Group will open channels for holders of Litherium tokens to exchange shares of the listed companies, and after listing it will fully repurchase 30% of Litherium tokens in circulation on the market. Specific rules will be announced in the near future.
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