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Greetings Contrarian,
Source: Trading Economics, Numerco.
This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and prepare a delicious feijoada.
Here are the highlights:
👏 Lithium Deal In Brazil
🙃 Nickel Ramp Up
🧐 Visual Of The Day
👏 Lithium Deal In Brazil
Sigma Lithium (TSXV: SGML; NASDAQ: SGML) has prepared 22,500 tonnes of lithium concentrate for shipment to Glencore as part of their collaboration to establish a sustainable electric vehicle supply chain. Glencore will make a 50% prepayment, 9% above the average metal price in Asia, before the shipment.
This partnership aims to provide responsibly produced, low-carbon lithium for the battery and EV industry, aligning with the transition to clean energy. Sigma's Greentech plant in Brazil, powered by renewable energy and eco-friendly practices, produces high-grade lithium with 5.5% lithium oxide.
The Grota do Cirilo mine is set to produce 130,000 tonnes of concentrate in 2023. Sigma plans further expansions for increased production.
Spigot is turning on, and at premium. Not bad, Sigma amigos.
🙃 Nickel Ramp Up
The two largest nickel producers in the Philippines are planning significant investments of around $1 billion each to construct processing plants.
Nickel Asia Corp. is in final negotiations to acquire rights to a mining project in the Pujada peninsula for a potential high-pressure acid leaching (HPAL) plant, costing over $1 billion. Global Ferronickel Holdings Inc. is in talks with a Chinese firm for its first HPAL facility near its mines, also requiring a $1 billion investment.
These investments align with the Philippines' strategy to boost its downstream mineral industry and become a major player in the electric-vehicle supply chain. Both projects are subject to feasibility studies, with support from the government to expedite permitting processes.
Support from the government to expedite permitting. Yes, you are reading this right.
This is why we love “exotic” countries.
📰 In Other News:
🧐 Visual Of The Day
'The U.S. has been the world's biggest oil producer since 2018 and continued its dominance in 2022 by producing close to 18 million barrels per day. This accounted for nearly one-fifth of the world's oil supply.' visualcapitalist.com/charted-worlds…
— Jesse Felder (@jessefelder)
3:09 PM • Sep 22, 2023
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Happy Speculating!
The Editor
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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