Lithium News Round up for the First and Second Week of October 2024
Notable and interesting news about the lithium industry.
Because of a head cold, I missed last week’s news roundup, so I picked articles from the last two weeks that I feel best represent the scale and scope of what is happening in the lithium industry.
Fact Check: Hurricanes Cannot Be Directed to a Specific Location, Such as Albemarle Lithium Mine in Kings Mountain, North Carolina
Hurricane Helene's path near Kings Mountain, North Carolina, sparked conspiracy theories on platforms like X, suggesting it was manipulated to aid lithium mining interests by devaluing land, a claim thoroughly debunked by experts, government officials, and basic common sense which confirms hurricanes can't be directed for such purposes, emphasizing the natural origins of the storm and dismissing any strategic land acquisition motives. I have spent a few agonizing moments on X debunking such feldercarb, but then I remembered you can’t fix stupid.
CATL Chairman Sees Recycled Lithium as the Future of EV Battery Making
CATL, under the leadership of Chairman Zeng Yuqun, predicts a significant industry shift where by 2042, half of all lithium-ion batteries for EVs could be made with recycled lithium, highlighting a sustainable pivot in line with the EU's Battery Regulation initiatives. Currently, CATL processes 100,000 tons of waste batteries into 13,000 tons of lithium carbonate, emphasizing its commitment to sustainability. In the EV battery market, CATL holds a dominant position with a 37.1% market share in the first eight months of 2024, showcasing its lead over competitors like BYD, which stands at 16.4%.
Hyundai partners with Lithion for electric vehicle battery collection and recycling in Canada
Hyundai Auto Canada Corp. has entered into a strategic partnership with Lithion, a Quebec-based company, designating Lithion as its primary partner for the recycling of electric vehicle batteries. This collaboration facilitates over 250 Hyundai and Genesis dealers and distributors across Canada in managing end-of-life EV batteries, allowing them to coordinate with Lithion for the transport of these batteries to its recycling facility in Saint-Bruno, near Montreal. The agreement, which follows a previous validation of Lithion's technology in 2021.
Lithium in the Silver State
Nevada's lithium sector is gearing up for a significant expansion, with projects like Thacker Pass potentially creating thousands of jobs and contributing an estimated $13.5 billion to the state's economy over 15 years. This development, supported by a substantial $2.26 billion DOE grant, aims to make Nevada a central hub for domestic lithium production, reducing reliance on imports. The economic forecast includes a long-term impact of up to $100 billion from ancillary lithium processing activities.