Lithium is the metal every battery on Earth depends on — an EV uses tens of kilos of it, and nothing else can replace it at scale, which is why people call it "white gold." But its real story is a brutally violent price cycle: it spiked nearly 10x in 2022, then crashed more than 80%, sending giants into multi-billion-dollar losses, mine shutdowns, and layoffs — before bouncing back again in 2026. And behind all of it, one country controls the single most important step.
Albemarle Fair Value Cut 7.8% to US$172.56 as Analysts Reset Lithium Assumptions
Albemarle's fair value estimate has been revised down from US$187.16 to US$172.56, a reduction of about 7.8%, as analysts reset their lithium assumptions. The revision reflects updated modeling assumptions, with revenue growth revised from 7.91% to 5.15%, the net profit margin assumption shifted from 34.27% to 35.74%, the future P/E multiple changed from 11.57x to 10.30x, and the discount rate adjusted from 7.41% to 7.50%. Wall Street targets moved broadly lower: Truist cut its target to US$225 from US$245, Scotiabank trimmed its target to US$190 from US$200 while maintaining an Outperform view, RBC Capital reduced its target to US$166 from US$257 while keeping an Outperform rating, and BofA moved its target to US$155 from US$225. On the bearish side, Morgan Stanley cut its target to US$161 from US$189, Mizuho lowered its target to US$185 from US$205 with a Neutral stance, and JPMorgan reduced its target to US$140 from US$160 while maintaining a Neutral rating after updating its model following the Q2 report.
Albemarle Shares Fall 14.3% as Analysts Cut Earnings Estimates
Albemarle has drawn heightened investor attention after its shares returned -14.3% over the past month, compared with a -1.3% change for the Zacks S&P 500 composite and a 6.3% loss for the Zacks Chemical - Diversified industry. For the current quarter, the company is expected to post earnings of $2.55 per share, a change of +1442.1% from the year-ago quarter, though the Zacks Consensus Estimate has fallen 15.9% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $11.39 points to a change of +1541.8% from the prior year and has declined 4.4% over the past month, while the next fiscal year's estimate of $11.07 indicates a -2.8% change and has slipped 3.9%. The consensus sales estimate of $1.52 billion for the current quarter points to a year-over-year change of +16.1%, with $6.1 billion and $6.35 billion expected for the current and next fiscal years. Albemarle reported revenues of $1.74 billion in the last reported quarter, up 31.1% year over year, with EPS of $3.75 versus $0.11 a year ago, and carries a Zacks Rank #3 (Hold) and a Zacks Value Style Score of B.
ExxonMobil Low-Carbon Units Seen Adding $1 Billion a Year by 2030
ExxonMobil plans to invest roughly $20 billion in lower-emission projects between 2025 and 2030, and management expects newer business segments including carbon capture and storage, lithium, carbon materials, and Proxxima products to generate more than $1 billion in annual earnings by 2030, with roughly $13 billion in potential annual earnings by 2040 assuming supportive policies and sufficient market development. The company already holds contracts covering roughly 9 million metric tons of CO2 annually from industrial customers, and its first commercial carbon capture projects are now operating, which should give management enough commercial activity by 2027 to offer investors better visibility into what carbon capture can contribute financially. The bet is framed against a shifting oil demand picture: more than 20 million electric cars were sold globally in 2025, about one-quarter of all new-car sales, and the International Energy Agency expects EVs to approach 29% of global car sales in 2026, with the existing EV fleet displacing roughly 1.7 million barrels of oil demand per day in 2025 and potentially around 5 million barrels per day by 2030. ExxonMobil is also developing carbon-capture-enabled data center projects that would use natural gas to generate electricity while capturing the resulting emissions. The prediction is that 2027 is when ExxonMobil's low-carbon investments start showing up more clearly in guidance.
American Battery Technology Posts First Adjusted Gross Profit as Federal Black Mass Export Ban Looms
American Battery Technology Company reported its first-ever adjusted gross profit on its fiscal year 2026 earnings call on September 14, even as CEO Ryan Melsert disclosed a federal directive that effectively bans exports of black mass unless the company obtains a specific exception. Revenue at its flagship recycling facility jumped more than 400% year over year to $21.7 million, while cost of goods sold rose only 67% and operating cash spend fell 16%, pushing adjusted gross profit to $1.7 million from a $6.2 million loss a year earlier. Cash climbed to $49.5 million as of June 30, 2026, total assets reached $133 million, and the company erased all long-term debt. A second recycling facility planned for the Southeast U.S., designed to process 100,000 tons of batteries a year, is backed by a $150 million Department of Energy grant, and a separate $10 million DOE grant funds three next-generation recycling technologies; the Bureau of Land Management also certified the plan of operations for the Tonopah lithium project in Nevada, which holds 21.3 million tons of lithium hydroxide including 2.7 million tons of proven and probable reserves. American Battery Technology has submitted a request for the black mass export exception but had received no formal response from the Department of Commerce as of the call, and short interest sits at 16.38% of the float against a forward P/E of 37.74 as of September 16.
Albemarle Ramps Lithium Expansion as Energy Storage Volumes Rise 11%
Albemarle Corporation is pushing ahead with lithium capacity expansion projects across Chile and Australia as it looks to convert strong battery and energy storage demand into higher sales volumes. The company's Energy Storage unit posted an 11% year-over-year increase in second-quarter sales volumes, supported by its integrated conversion facilities, while the Salar yield improvement project in Chile has reached a 50-60% operating rate. In March 2026, Albemarle submitted the environmental assessment permit for a commercial direct lithium extraction project at Salar de Atacama, where its DLE pilot plant has demonstrated lithium recoveries of more than 90%, and the CGP3 expansion at the Greenbushes spodumene mine in Australia is expected to reach full production in the first quarter of 2027. Among peers, Sociedad Quimica y Minera de Chile logged record second-quarter lithium sales volumes of more than 84,000 metric tons of lithium carbonate equivalent, with its Nova Andino Litio business up roughly 47% year over year, and Rio Tinto achieved first production ahead of plan at its Fénix expansion and Sal de Vida projects in Argentina, with its fully owned Rincon Lithium Project on track for first production in 2028. Rio Tinto holds a 53.9% stake in the Nemaska Lithium project, a fully integrated spodumene-to-lithium hydroxide development, with first production also planned for 2028. Albemarle shares have gained 41.5% over the past year, and the Zacks Consensus Estimate implies a 1,541.8% year-over-year rise in 2026 earnings, though EPS estimates have trended lower over the past 60 days.
Rock Tech Lithium Upsizes Private Placement to C$6.0 Million, Closes Second Tranche
Rock Tech Lithium Inc. has upsized its previously announced non-brokered private placement to up to 9,219,301 units at C$0.65 per unit for aggregate gross proceeds of up to approximately C$6.0 million, and closed the second tranche of the offering. The second tranche consisted of 5,402,493 units for aggregate gross proceeds of C$3.51 million, bringing the total issued so far to 8,171,793 units for approximately C$5.31 million, which together with the first tranche already exceeds the original placement volume of C$5.2 million. An aggregate of C$3.25 million of the offering was subscribed for by a new strategic investor, with whom the company expects to enter into a strategic equity participation at the project level in its fully permitted Guben lithium hydroxide converter in Guben, Brandenburg, Germany. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at $0.90 per warrant share for 36 months following issuance. The company paid aggregate cash commissions of C$162,602.70 to eligible finders and issued 253,155 finders' warrants, each exercisable at C$0.65 per common share for 24 months. Net proceeds will be used to advance the Definitive Feasibility Study for the Georgia Lake Mine and the development of the Red Rock Converter in Ontario, and for general corporate and working capital purposes. Separately, the company appointed Derek Sobel as Chief Financial Officer, reprising the role as the CFO function transitions to its Canadian operations, succeeding Christopher Wright, who has served as CFO since May 2025 and is relocating to Australia. Closing of the offering remains subject to final approval of the TSX Venture Exchange.
J.P. Morgan Upgrades Lithium Americas as Domestic Lithium Projects Advance
J.P. Morgan upgraded Lithium Americas to Overweight, citing improved long-term lithium assumptions, confidence in Thacker Pass execution, and continued U.S. policy support for domestic critical-mineral supply, with engineering more than 95% complete and procurement more than 80% complete at the time of the report. American Battery Technology Company reported progress on a second recycling facility backed by a $150 million U.S. Department of Energy grant, alongside a separate $10 million grant supporting critical-mineral processing technologies. ABAT also announced reinstatement of a $57.7 million Department of Energy cooperative agreement for its Tonopah Flats lithium project, completion of baseline environmental studies, and acceptance of its Plan of Operations by the Bureau of Land Management, with Priority Project designations intended to streamline federal permitting. Standard Lithium is approaching a final investment decision for its Arkansas project, with a potential U.S. government grant and possible bank funding associated with the Smackover Lithium joint venture under discussion. The push to build domestic critical-mineral supply chains has moved from policy discussion to active construction and permitting, but the gap between a defined project and a financed, producing one remains the defining risk across the sector.
US Elemental Starts McDermitt Phase 1 Drilling, Nasdaq Listing on Track for Q4 2026
HiTech Minerals Inc., a wholly owned subsidiary of Jindalee Lithium Limited, and Constellation Acquisition Corp I announced that site mobilization is underway at the McDermitt Lithium Project in southeast Oregon, with high-priority Phase 1 infill and environmental drilling expected to begin in late September 2026. The drilling falls under the Exploration Plan of Operations approved by the U.S. Bureau of Land Management in December 2025, which provides for a staged program of up to 168 drill sites, of which Phase 1 comprises up to 100 drill sites. The Phase 1 work targets the central portion of the deposit within the mine design outlined in the November 2024 McDermitt Pre-Feasibility Study, and the 2026 program is expected to be completed by the end of November, with initial Phase 1 results expected in early Q1 2027. On the transaction side, the proposed business combination between HiTech Minerals and Constellation contemplates a capital raise of approximately $20 million to $30 million through a private investment in public equity, including a binding $4.0 million cornerstone commitment from an affiliate of Antarctica Capital Partners, of which approximately $1.5 million was funded at signing and a further $2.5 million is committed at completion. US Elemental has received term sheets from several credible U.S. funds and said current indications suggest the $20 million to $30 million target can be met, while an amended Form S-4 is expected to be filed in the coming weeks and declared effective in late September or October, keeping the transaction on track to close and US Elemental to list on Nasdaq under the ticker symbol ULIT in Q4 2026, subject to conditions including the $14 million minimum cash condition.
BlackRock reverses course, turns overweight on emerging-market stocks on AI boom
BlackRock has once again raised its recommendation on emerging-market, or EM, equities to overweight, arguing that limited access to the resources needed to expand the artificial intelligence industry, along with strong earnings, will help these stocks outperform the broader market. South Korea and Taiwan form the backbone of the semiconductor and memory chip supply chain, while Latin America offers investors exposure to the commodities and infrastructure needed to expand AI investment. The return to an overweight call marks a reversal from June, when BlackRock cut its EM equity recommendation from overweight to neutral, warning that concentrated AI-related positioning and leverage levels, particularly in South Korea, meant the risks investors had to bear were not worth the expected returns. It said the unwinding of leverage in the South Korean stock market after severe selling pressure in July was one of the factors supporting this renewed overweight on EM equities. Still, several factors could affect the call, including whether rising earnings growth and cheaper valuations can offset risks from higher borrowing costs, elevated oil prices and geopolitical tensions. BlackRock also believes a weaker dollar and recovering capital inflows will support emerging markets. Most analysts' estimates indicate that earnings for companies in the MSCI Emerging Markets index will grow more than 34% over the next 12 months, above the roughly 20% expected for the MSCI USA index, while EM stocks trade at a forward price-to-earnings ratio of about 10 times.
Canada Seeks Investment in More Than 160 Projects Amid Trade War With US
Canadian Prime Minister Carney is aiming to attract investment in more than 160 projects as a key to weathering the trade war with the United States. According to the Prime Minister's Office, Carney, a former Goldman Sachs executive, held one-on-one meetings on the 14th with BlackRock CEO Larry Fink and Blackstone President Jon Gray, among others. According to government sources, the summit, mainly to be held on the 15th, will feature discussions on future investment, but it could take 12 to 18 months before large-scale deals materialize. Carney has pledged to attract 1 trillion Canadian dollars, or 721 billion US dollars, in investment over the next five years through deregulation and the promotion of mining, energy, technology, and infrastructure projects. At a welcome reception on the 13th, Carney said that some of the world's largest investors, who manage more than 120 trillion Canadian dollars in assets, are now looking at Canada differently than before.
Huayou Cobalt Completes Issuance of 1 Billion Yuan Green Sci-Tech Innovation Bond
Huayou Cobalt announced that the company has completed the issuance of its eleventh tranche of green sci-tech innovation bonds for 2026, with an issuance amount of 1 billion yuan, a term of two years, a par value of 100 yuan per unit, and a coupon rate of 2.20 percent. The bond is abbreviated as 26 Huayou Cobalt GN011 Sci-Tech Innovation Bond, with China CITIC Bank, China Merchants Bank, Shanghai Pudong Development Bank, Bank of China, Industrial Bank, BOC International, and China Bohai Bank serving as lead underwriters. It was publicly issued in the national interbank bond market through bookbuilding and centralized placement. The proceeds will be used to replace procurement expenditures incurred by subsidiaries within three months for the recycling of used power batteries and their dismantled materials, as well as for raw material procurement for battery-grade lithium salt product manufacturing projects. The announcement shows that the company's 2025 annual shareholders' meeting has approved a proposal for the company and its subsidiaries to issue debt financing instruments of non-financial enterprises in 2026, with issuance methods including public offering and non-public targeted issuance.
Frontier Lithium's PAK Project Named to Canada Investment Summit Prospectus and Ontario Deal Book
Frontier Lithium Inc. announced that its PAK Lithium Project has been featured in both the Canada Investment Summit Prospectus and Ontario's Deal Book, showcasing it among strategic Canadian investment opportunities presented to global institutional investors. The Canada Investment Summit Prospectus, distributed to participants of the inaugural Canada Investment Summit announced by Prime Minister Mark Carney and hosted by the Government of Canada with the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board in Toronto on September 14-15, 2026, features 167 investment opportunities across eight sectors, including 63 projects in the Minerals and Metals category, with the PAK Lithium Project among a limited number of lithium projects identified. Ontario's Deal Book, a collection of 15 major investment opportunities highlighted by the Province of Ontario during the Summit, includes the PAK Lithium Project as one of only six mining and critical minerals projects and the only lithium project among the 15 presented. The PAK Lithium Project is operated as a joint venture between Frontier Lithium at 92.5% and Mitsubishi Corporation at 7.5%, and a 2025 Mine and Mill Feasibility Study prepared by DRA Americas Inc. outlines a 31-year project life with an after-tax net present value of C$932 million at an 8% discount rate and an after-tax internal rate of return of 17.9%. Chief Executive Officer Trevor Walker said the recognition demonstrates meaningful alignment between federal and provincial priorities, and that institutional investors have consistently emphasized the importance of visible government support and infrastructure planning.
GM Targets Domestic Battery Supply Chain Within Three Years
General Motors is developing a domestic battery supply chain it expects to complete within two to three years, even as it currently relies on some Chinese-sourced materials for existing battery production. Kurt Kelty, GM's vice president of battery and sustainability, told CNBC the company's near-term goal is full domestic sourcing, centered on sodium-ion battery cells GM is developing with Denver-based startup Peak Energy for stationary energy storage in homes, businesses, and data centers. GM expects commercial production of those cells around 2029, and a GM spokesperson confirmed the same domestic sourcing priority would apply to battery cells for future electric vehicles. Sodium-ion cells are built around sodium from soda ash, which the U.S. holds in abundance, sidestepping the lithium and ferrous sulfate supply chains China currently controls, and Kelty said they handle a broader span of temperatures, removing the need for active thermal management. GM has committed $900 million to new battery research facilities at its suburban Detroit campus, including a cell prototyping building exceeding 500,000 square feet scheduled to open before the end of the year. The comments came as Ford faced criticism from the Trump administration over its battery sourcing, with Transportation Secretary Sean Duffy saying last week he had "profound concern" over Ford's licensing of technology from Chinese battery manufacturer CATL for its Marshall, Michigan plant, while Ford CEO Jim Farley called the charges "basic misunderstandings, mistruths" and the White House posted that Ford is "a GREAT American company."
TD launches $150B five-year plan to accelerate Canadian investment
Toronto-Dominion Bank launched a five-year, $150B commitment to accelerate investment, growth, and innovation across sectors critical to Canada's economy. The commitment will support new lending, underwriting, advisory, and other financing activities across five key areas: energy, critical minerals and resources, defence and aerospace, digital and AI, and infrastructure. TD will also focus on supporting small and mid-sized businesses, Indigenous economic participation, sustainable growth, workforce readiness and AI enablement.
Li-FT Power Ltd. announced that its Yellowknife Lithium Project and Lithium Carbonate Conversion Facility has been selected for inclusion in the investment prospectus for the Canada Investment Summit, taking place September 14-15, 2026, in Toronto. The summit is hosted by Prime Minister Mark Carney in partnership with CPP Investments and PSP Investments and will convene global investors, Canadian business leaders and government representatives to connect capital with Canadian investment opportunities, including critical minerals. CEO Francis MacDonald said LIFT has scale in the ground and a strategy to extend that value downstream, combining large lithium resources at the Yellowknife and Adina-Galinée projects with the potential for battery-grade lithium carbonate conversion in Canada. Separately, the company said it entered into a consulting agreement with Prospect Capital Relations effective September 15, 2026, to provide investor relations services, under which LIFT will pay C$10,500 per month plus applicable taxes, terminable by either party on 30 days' prior written notice and subject to the approval of the TSX Venture Exchange. Prospect Capital Relations is owned by John David MacDougall, an arm's length party to the Company who beneficially owns a nominal number of common shares of the Company.
Canada launches flagship investment summit, aiming to attract 720 billion US dollars over 5 years
Canadian Prime Minister Mark Carney announced that a new consensus on economic reform and future direction has taken hold across the country, ahead of the first-ever Canada Investment Summit, to be held in Toronto on September 14-15. The event aims to draw a total of 1 trillion Canadian dollars, or 720 billion US dollars, in investment over the next five years. The summit will present Canada's Deal Book, which compiles major projects in the energy, strategic minerals, advanced technology, and large-scale infrastructure sectors, in order to connect global capital with Canada's major projects, strengthen domestic supply chains, raise productivity, and reduce economic dependence on the United States. Carney told leading business figures that Canada is taking control of its own economic future, and will build more, trade more with one another, and trade more with the world.
Canada Eyes Talks with EU on Special Partnership to Reduce Reliance on US
Canadian Prime Minister Mark Carney has revealed that Canada is preparing to begin talks on building a special-form partnership with the European Union, but insisted it does not seek to become an EU member, after reports that the two sides are considering a new form of relationship that could include associate-member-like status. Earlier, the Wall Street Journal reported, citing Canadian and EU officials, that the EU is open to the idea of granting Canada an unprecedented associate-member status. The Globe and Mail reported separately that the idea of calling such a relationship associate membership came from the EU side, not from Carney. The move comes as Canada faces an escalating trade war with the United States, with President Donald Trump reiterating plans to impose a new round of tariffs on cars, trucks and auto parts from Canada starting January 1. On Canada-EU cooperation, the two sides are discussing ways to allow Canadian goods, services and workers tied to strategic supply chains to move more freely, covering energy, artificial intelligence, defence and critical minerals, as well as joint infrastructure projects ranging from undersea cables, data centres and satellite networks to energy transport infrastructure from Canada to Europe. Carney is scheduled to meet French President Emmanuel Macron on September 20 at Saint-Pierre and Miquelon, and will visit France and the United Kingdom next week, delivering a speech to the European Parliament in Strasbourg.
BMO to Mobilize Up to $70 Billion for Critical Canadian Sectors Over 10 Years
BMO announced it plans to mobilize up to $70 billion in new capital over 10 years for sectors critical to Canada's economic security and resilience. The commitment, described by the bank as Canada's first, targets electricity infrastructure including generation, transmission and distribution, energy infrastructure such as pipelines, transportation infrastructure including roads, airports and terminals, mining and critical minerals, AI computing, defence and security, and oil and gas. Chief Executive Officer Darryl White said the initiative builds on more than 200 years of financing Canadian growth, dating to 1817, and that the opportunities in these sectors represent the latest chapter in that story. The capital is expected to take the form of bank financing, debt capital markets activity and the raising of public equity, and reflects expected demand from initiatives proposed to Canada's Major Projects Office, projects supporting Canada's National Electricity Strategy, the Trilateral MOU among the Federal Government, the Province of Alberta and the Oil Sands Alliance, Canadian Sovereign AI initiatives, and proprietary BMO analysis for the defence and oil and gas sectors. BMO said it authorized nearly $300 billion in lending to over 270,000 Canadian businesses and organizations in 2025, invested approximately $3.4 billion in Canadian companies and innovation ecosystems, and has more than 30,000 employees across Canada.
Nano One Advances First Development Company Project for Canadian LFP Cathode Production
Nano One Materials Corp. is advancing its first Development Company project to deploy lithium iron phosphate cathode production in Canada, beginning a site evaluation study for a proposed 25 ktpa cathode production facility with potential expansion to up to 100 ktpa. The project, known as Canada DevCo, aims to serve ESS, EV and defence markets in Canada and internationally, and will draw on experience from the company's existing Candiac Facility to support technical development, training and operational readiness. Early development workstreams are underway, including engineering of the standardized 25,000-tonne-per-year plant design based on the One-Pot LFP CAM Package, which is supported in part by funding from Natural Resources Canada announced on April 8, 2026. Nano One is engaging with numerous regional suppliers of lithium carbonate, phosphoric acid, iron and key plant equipment, with a particular focus on securing local iron feedstock with suitable characteristics. The Canada DevCo advances the global LFP strategy outlined in the company's August 26, 2026 news release, with each project intended to be financed on its own merits through a combination of government and private investment.
Standard Lithium Clears DOE Review and Final Construction Contracts Ahead of FID
Standard Lithium reported second-quarter results on August 10 and said it has cleared two of the four requirements it set before reaching a Final Investment Decision on its flagship South West Arkansas project. The US Department of Energy concluded its National Environmental Policy Act review of the project during the quarter and issued a Finding of No Significant Impact with no added mitigation measures or conditions, tied to the $225 million grant Standard Lithium received in January 2025 from the DOE's Office of Critical Minerals and Energy Innovation. The company also locked in its last two construction vendor contracts: an engineering, procurement, construction and commissioning agreement with S&B Engineers and Constructors, supported by Hatch Ltd, covering the Central Processing Facility, and an engineering, procurement and construction management agreement with Wood Group USA covering the upstream well field, both carrying a Limited Notice to Proceed. Operationally, the Arkansas demonstration plant processed 1 million barrels of real brine and completed more than 15,000 direct lithium extraction cycles during the quarter, and Standard Lithium closed the quarter with $137.3 million in cash, $137.1 million in working capital and no term or revolving debt. Customer offtake agreements are still being negotiated with a target of closing by the third quarter, and project financing depends on those deals, so FID remains a target rather than a done deal, with first commercial production of battery-quality lithium carbonate not expected until 2029.
Anson Wins $212 Million Utah Tax Credit for Green River Lithium Project
Anson Resources Limited has received approval from the Utah Governor's Office of Economic Development for a post-performance tax credit of approximately $212 million to support its 100% owned USA subsidiary, A1 Lithium Inc., and its Green River Lithium Project in Utah. The credit was granted under the state's Rural Economic Development Tax Increment Financing program, which can provide up to 50% of incremental taxes and is calculated on a projection of roughly $425 million in incremental taxes the State of Utah expects to receive over 20 years of operation. The approval is one of several incentive programs Anson has been discussing with the Government of Utah and comes in addition to a tax rebate from the Utah Inland Port Authority announced on 3 September 2026, bringing the total of the two tax rebates to US$406,514,271, or A$569,119,979. Anson said the financial implication of the tax reduction will be assessed in the Green River Definitive Feasibility Study, and that it is continuing discussions with GOED about other incentive programs expected to affect returns to shareholders. Executive Chairman and CEO Bruce Richardson said the credit is further indication of the strong support Anson has received from the Government of Utah and that the company is continuing to work with state and federal representatives on other grants and incentive programs that do not dilute shareholders.
Xuetian Salt to Acquire 100% of Kuntian New Energy; Trading Resumes September 14
Xuetian Salt announced on September 11 that its board of directors has approved a plan to purchase assets through the issuance of shares and cash payment, along with a related-party transaction plan to raise supporting funds. Trading of its shares will resume on September 14. Under the plan, Xuetian Salt intends to acquire 100% of the shares of Hebei Kuntian New Energy Co., Ltd. from 54 counterparties including Song Zhitao and Liu Gejun through a combination of share issuance and cash payment. It will also issue shares to no more than 35 specific investors, including Hunan Salt Group Co., Ltd., to raise supporting funds. The transaction is expected to constitute a major asset restructuring and a related-party transaction, but not a reverse merger. Audit and valuation work has not yet been completed, and the valuation and pricing of the target company have not been determined. Kuntian New Energy was founded in May 2018 and is a leading enterprise in lithium-ion battery anode materials. It was previously included in the 2026 Hurun Global Unicorn List, and according to data from the UP2026 China Energy Unicorn Enterprises, its valuation is approximately 12.922 billion yuan. Unaudited financial data shows that in 2024, 2025, and the first half of 2026, Kuntian New Energy's operating revenues were 1.29 billion yuan, 1.997 billion yuan, and 1.412 billion yuan respectively, while net profits were negative 66.1727 million yuan, negative 32.5868 million yuan, and 120 million yuan respectively. In the first half of this year, Xuetian Salt achieved revenue of 2.658 billion yuan, down 2.89% year-on-year, with net profit attributable to the parent company of 79.1813 million yuan, down 9.23% year-on-year. The company stated that after the transaction is completed, it will enter the lithium battery anode sector and strengthen its second growth curve. Due to the planning of the aforementioned transaction, trading of Xuetian Salt shares was suspended from the market open on August 31. Before the suspension, the stock price was 6.04 yuan per share, with a total market value of 9.906 billion yuan.
Brazilian Judge Suspends Sigma Lithium's Grota do Cirilo Licenses
A Brazilian federal judge ordered the immediate suspension of all environmental licenses held by Sigma Mineração S.A., the operating subsidiary of Sigma Lithium Corporation, for the Grota do Cirilo project, halting mining activities under a September 4 preliminary order following a civil action by the Federation of Quilombola Communities of Minas Gerais. The dispute centers on whether the project lies within the area of influence of the Baú Quilombola Community and therefore required free, prior and informed consultation, with the judge citing studies placing the community's territory approximately 2.7 kilometers from the project's directly affected area, within the 8-kilometer presumptive regulatory impact radius under Interministerial Ordinance No. 60/2015. The court ordered independent georeferencing and barred Minas Gerais and its environmental agency from issuing new licenses, amendments or corrective approvals until community-protection requirements are completed. The suspension is material because Grota do Cirilo is Sigma Lithium's only productive asset, with annualized nameplate capacity of approximately 330,000 metric tons of lithium oxide concentrate, and the company is targeting 240,000 metric tons over 12 months and 330,000 metric tons in fiscal 2027. Local reporting said the court-appointed expert would have 45 days to submit the mapping, and the order follows a July operational pause that ended only after an August state agreement with Minas Gerais.
US Battery Grants Won't Break China's Grip, Experts Warn
A CNBC segment highlighted that the Department of Energy's $500 million in grants to seven US battery companies is insufficient to challenge China's dominance, with experts saying catching up will take decades and hundreds of billions of dollars. Albemarle, the largest US lithium producer, trades at $129.57, up 60% over the past year but down 7.94% year to date. China controls 85% of cathode and over 90% of anode production, plus 80% of battery cells and 70% of EVs, while $24 billion in US battery projects were canceled between January 2025 and August 2026 due to policy whiplash. Albemarle's CEO Kent Masters noted stationary storage demand is "off the charts," with global lithium consumption up 45% year-over-year through May, but US EV sales fell 36% after purchase credits expired. The company beat Q2 estimates with adjusted EPS of $3.75 on $1.74 billion revenue, and analysts are 59% bullish with an average target of $172.56.
American Battery Technology's Nevada Lithium Project Accepted by BLM
American Battery Technology's shares rose 1.8% in Tuesday's trading after the U.S. Bureau of Land Management completed its review and accepted the company's mine and refinery plan of operations for the Tonopah Flats lithium project in Nevada. The project, spanning 10.7K acres of public land in Esmeralda and Nye counties, is designed to bolster domestic production of critical minerals for grid-scale battery storage, data centers, AI, electric vehicles, and consumer electronics. Tonopah Flats has received significant federal support, including a FAST-41 designation, a $58M grant from the U.S. Department of Energy for the initial 5K tons-per-year processing train, and a $900M letter of interest from the U.S. Export-Import Bank to expand capacity to 30K tons per year. The company's next step is the publication of a notice of intent to prepare an environmental impact statement, as it continues through federal, state, and local permitting.
ASEAN's Clean Energy Tech Imports from China Surpass $20 Billion, Up 50%
ASEAN has become Asia's largest market for Chinese clean energy technology, with purchases in 2026 exceeding $20 billion, a 50% increase from the previous year, led by solar cells, batteries, and grid equipment, according to a Reuters Open Interest report citing data from energy research institute Ember. Imports of solar equipment from China were valued at $4.1 billion, up nearly 90%, accounting for 57% of China's total solar exports in Asia. Meanwhile, batteries were worth nearly $7 billion, and grid equipment around $1.6 billion. This growth is significant for Chinese manufacturers as Europe and the United States have increased trade barriers, while ASEAN, with a population of 700 million and an economy growing at 5% annually, sees rising electricity demand. For Thailand, access to cheap goods helps reduce the cost of the energy transition but also increases competition with domestic producers.
China's August Auto Exports Up 77%, Domestic Sales Fall for 11th Straight Month
According to data released by the China Passenger Car Association (CPCA) on the 8th, August auto exports rose 77.5% year-on-year to 894,000 units. Although the growth rate slowed from July's 88.2%, BYD and Geely Automobile hit record highs. Meanwhile, domestic sales fell 23.7% to 1.55 million units, marking the 11th consecutive month of decline, with the rate of decline widening from July's 21.1%. Sales of electric vehicles (EVs) and plug-in hybrids (PHVs), which account for 64.7% of domestic sales, decreased by 10.1%, but exports in this segment accelerated with a 154.7% increase. Seres Group saw a sharp 44% drop due to intensifying competition in the domestic premium EV market and delays in overseas expansion. CPCA Secretary-General Cui Dongshu predicts that exports will reach 12 million units this year and increase to 18-20 million units annually by 2030.
POSCO Secures $700 Million Facility for Argentina Lithium Operations
POSCO Holdings has secured a $700 million short-term credit facility from IDB Invest, the private-sector arm of the Inter-American Development Bank Group, to support its Argentina-based brine lithium business. POSCO Argentina received approval for the facility on Aug. 4, providing working capital for its first lithium plant and a second plant scheduled for completion in the second half of 2026. The financing strengthens POSCO's liquidity and is expected to reduce funding costs through competitive interest rates and preferential tax treatment. IDB Invest recognized the project's compliance with global ESG standards and its contribution to economic development in Latin America. The facility comes as POSCO accelerates development of its Sal de Oro lithium project at Argentina's Salar del Hombre Muerto, which comprises four phases with eventual production capacity of around 100,000 metric tons per year. The credit facility provides additional financial flexibility to ramp up Argentine lithium operations and, combined with Argentina's investment incentives and Korea-Argentina cooperation, should help accelerate project development and enhance the long-term competitiveness of POSCO's battery-materials portfolio.
Elevra PFS Backs Near-Doubling of Quebec Lithium Output
Elevra Lithium has released a pre-feasibility study for the expansion of its North American Lithium mine in Quebec, outlining a plan to nearly double annual spodumene concentrate production while lowering unit operating costs. The study puts average annual production after the expansion at 373,000 tonnes of 5.4% Li2O spodumene concentrate, compared with 199,000 tonnes in the unexpanded base case, and about 10% above the 338,000-tonne estimate from its May scoping study. The brownfield expansion carries an estimated initial capital expenditure of C$366 million (US$271 million), including C$73 million of contingency, unchanged from May and fully funded through a strategic financing package announced earlier this year. The PFS estimates an incremental post-tax net present value of C$943 million at an 8% discount rate, with a 49.9% post-tax internal rate of return and a 34-month payback period, while the entire expanded operation has a post-tax NPV of C$3.22 billion. Life-of-mine C1 costs are expected to fall to C$876 per tonne under the expansion case, dropping to C$851 per tonne after completion, compared with C$1,048 per tonne in the base case. The project will be developed in three stages, with Stage 1 increasing production by 15-20% within the existing 4,500-tonne-per-day milling permit from mid-2027, Stage 2 raising milling capacity to 6,500 tonnes per day from mid-2028, and Stage 3 installing a permanent crushing circuit and additional ore-sorting capacity by mid-2029. The expansion is supported entirely by North American Lithium's existing 47.2 million tonnes of proven and probable reserves grading 1.12% Li2O, with no inferred resources included, and assigns the operation a roughly 20-year mine life. The asset, located at La Corne in Quebec's Abitibi-Témiscamingue region, restarted concentrate production in 2023 and is now wholly owned by Elevra following the 2025 merger of Sayona Mining and Piedmont Lithium. The PFS remains subject to development risks, with permitting identified as a critical path, particularly for later-stage pit development and associated infrastructure.
Albemarle Names BHP Executive Ragnar Udd as Next CEO
Albemarle Corp. has named BHP Group Limited's Chief Commercial Officer Ragnar "Rag" Udd as its next CEO, effective Feb. 1, 2027, succeeding Kent Masters, who will become executive chairman at the 2027 annual meeting. The transition comes as the lithium producer faces a market shaped by Chinese oversupply and shifting demand toward grid-scale storage. JPMorgan analyst Jeffrey Zekauskas cut Albemarle's 2026 adjusted EBITDA estimate by 14.4% to $2.88 billion, noting that each $1-per-kilogram move in lithium prices shifts annual EBITDA by roughly $250 million. Meanwhile, China's revocation of environmental approval for CATL's Jianxiawo mine has led Benchmark Mineral Intelligence to halve its 2026 output forecast for that site to 32,000 tons of lithium carbonate equivalent. Udd brings over 25 years of experience in resource businesses across Australia, Asia, and the Americas, and will oversee Albemarle's Energy Storage and Specialties businesses as the company positions for a market recovery.
FSPG Hi-Tech Plans to Invest 7.158 Billion Yuan in Lithium Battery Separator Projects
FSPG Hi-Tech announced on the evening of September 3 that it plans to invest in two major green high-end separator projects in Shaoguan, Guangdong and Wu'an, Hebei through its wholly-owned subsidiary Hebei Jinli New Energy Technology, with a total investment of approximately 7.158 billion yuan. It also plans to raise no more than 4 billion yuan through a private placement for project construction and supplementary working capital. The Shaoguan base project, with an annual capacity of 4 billion square meters of wet-process separators, has a total investment of about 3.347 billion yuan, while the Wu'an base project, with an annual capacity of 4 billion square meters of coated separators, has a total investment of about 3.811 billion yuan. Jinli New Energy has achieved stable mass production of 5-micron separators and established long-term cooperation with multiple leading battery customers. Its performance commitments for 2025 to 2027 require non-GAAP net profit of no less than 230 million yuan, 360 million yuan, and 610 million yuan respectively. The controlling shareholder Guangxin Group will participate in the private placement to consolidate control. In the first half of 2026, FSPG Hi-Tech reported revenue of 3.877 billion yuan, up 259.61 percent year on year, and net profit attributable to the parent of 905 million yuan, up 1,608.12 percent year on year, mainly because Jinli New Energy has been consolidated since February 2026.
Vulcan Unveils €1.26 Billion Second German Lithium Project
Vulcan Energy has unveiled plans for a €1.26-billion second-phase lithium and geothermal project in Germany, aiming to replicate the development model of its flagship Lionheart project. The preliminary feasibility study for Project Ludwig, located about 60 kilometers north of Lionheart in the Upper Rhine Valley Brine Field, targets production of 21,100 tonnes per year of battery-grade lithium carbonate over a 30-year operating life, with total expected output of about 517,000 tonnes. Development capital is estimated at €1.26 billion including a 15% contingency, yielding a post-tax net present value at an 8% discount rate of €1.73 billion and a post-tax internal rate of return of 20.2%. The project would comprise 14 production and 14 injection wells across five sites, producing around 3,125 GWh of renewable heat annually, with C1 operating costs estimated at €4,101 per tonne. The PFS also increased the Indicated lithium Mineral Resource by 91% to 1.25 million tonnes of lithium carbonate equivalent, while Inferred resources stand at 2.23 million tonnes. A final investment decision is expected only after Lionheart reaches commercial production, with an assumed FID in 2029, and the company is seeking strategic partners and asset-level financing.
Jefferies flags critical mineral bottlenecks as electrification demand grows
Jefferies initiated coverage of several advanced materials and energy-efficiency companies, naming Element Solutions and Almonty Industries as top Buy-rated picks, with IperionX and Materion also rated Buy, while NioCorp Developments, Fireweed Metals Corp, and Standard Lithium received Hold ratings. Analyst Laurence Alexander argued that electrification, AI, and rising defense and space investment are creating durable demand but also supply bottlenecks across critical minerals. The firm estimates energy investment requirements of $65 trillion to $250 trillion depending on policy, and predicts "spasmodic bottlenecks" including fly-ups in rare earth processing in 2028-32, lithium conversion in 2027-30, nuclear enrichment in 2035-40, and grid transformers in 2034-42. These bottlenecks are relatively small compared to the broader transition, with nuclear enrichment requiring about $2 trillion, lithium about $0.5 trillion, and rare earths about $0.3 trillion. Jefferies recommends favoring companies with improving returns on invested capital and margins, a strategy that has generated a compound annual return above 15% since 1999.
Sibanye Gold Reports Record H1 Revenue and Dividend
Sibanye Gold reported record first-half financial results, with revenue up 64% year over year to nearly ZAR 90 billion and adjusted EBITDA more than doubling to ZAR 31.8 billion. Operating cash flow surged 551% to almost ZAR 21 billion, supporting an interim dividend of ZAR 5.7 billion, or 201 cents per share. The company reduced gross debt 18% to ZAR 32.1 billion, while South African PGM and gold operations generated significant cash flow amid higher commodity prices. PGM adjusted EBITDA rose 302% and gold adjusted EBITDA reached a record ZAR 9 billion. The board approved the Burnstone gold project in South Africa and Mt Lyell copper-gold project in Tasmania, with production targeted from 2029. At the Keliber lithium project in Finland, mining and concentrator commissioning are progressing, with refinery startup dependent on operating performance and lithium-market conditions.
LG Energy signs lithium carbonate deal with Smackover
LG Energy Solution has entered into a binding offtake agreement with Smackover Lithium for 8,000 tonnes of battery-quality lithium carbonate annually over the next ten years. Smackover, a joint venture between Standard Lithium, which holds a 55% stake, and Equinor, holding 45%, will supply the material from its South West Arkansas Project in the US. The lithium carbonate will be produced using direct lithium extraction and purification, a more sustainable method. This deal enables LG Energy Solution to build a fully integrated local supply chain for its US battery plants, most of which focus on lithium iron phosphate chemistry. The agreement also helps LG Energy Solution meet non-Prohibited Foreign Entity requirements for cathode materials.
Lithium Miners Profit as Battery Storage Demand Surges
Lithium miners are reporting strong first-half profits driven by surging battery storage demand, with major producers planning output increases. Tianqi Lithium and Ganfeng Lithium posted their biggest profits in three years, while Albemarle noted global lithium demand rose 45% year-over-year through May. Supply growth has lagged, creating a gap that benefits miners, and Tianqi warned that overseas supply may face policy and logistics hurdles, suggesting further price upside. CATL expects energy storage to account for half of its sales by 2030, and Middle East tensions are boosting demand as countries seek energy independence.
Wanrun New Energy Posts Profit of 602 Million Yuan in First Half of 2026, Reversing Year-Earlier Loss
Wanrun New Energy disclosed its 2026 semi-annual report on August 29. In the first half of the year, it achieved total operating revenue of 12.426 billion yuan, up 180.13 percent year on year. Net profit attributable to the parent company was 602 million yuan, reversing a loss from the same period last year. Net profit after deducting non-recurring items was 682 million yuan, also reversing a year-earlier loss. The company's main products are lithium iron phosphate and iron phosphate. During the reporting period, basic earnings per share were 4.89 yuan, and the weighted average return on equity was 11.21 percent, up 16.07 percentage points year on year. Net cash flow from operating activities was negative 2.83 billion yuan, compared with negative 122 million yuan in the same period last year. Net cash flow from financing activities was 4.5 billion yuan, an increase of 4.516 billion yuan year on year. As of the end of the first half, the company's inventory book value was 2.487 billion yuan, accounting for 44.3 percent of net assets, with an inventory write-down provision of 80.0071 million yuan.
Ganfeng Lithium's 2026 interim report shows net profit of 4.257 billion yuan
Ganfeng Lithium released its 2026 interim report. During the reporting period, the company achieved total operating revenue of 23.097 billion yuan, net profit attributable to the parent company of 4.257 billion yuan, and net cash inflow from operating activities of 1.328 billion yuan. The company's latest asset-liability ratio was 55.12%, gross margin was 31.51%, return on equity was 8.83%, and diluted earnings per share was 2.04 yuan. In addition, the company's total asset turnover was 0.20 times and inventory turnover was 1.12 times, both ranking eighth among peer companies that have disclosed results. The number of shareholders was 349,800, and the top ten shareholders held 1.144 billion shares, accounting for 54.55% of the total share capital.
Canada Nickel Closes C$21.0 Million Private Placement
Canada Nickel Company Inc. has closed its upsized non-brokered private placement, raising gross proceeds of C$21.0 million. The company sold 14,000,000 units at C$1.50 per unit, with each unit comprising one common share and half a warrant, each whole warrant exercisable at C$2.25 for 36 months. As part of the offering, 666,667 units were issued to Avenir Minerals Limited following the exercise of pro rata participation rights. The net proceeds will support permitting and engineering activities, repay outstanding indebtedness, and fund working capital and general corporate purposes.
PwC Thailand has revealed that the transformation of the Thai industrial sector will be a key driver of a new wave of mergers and acquisitions, with investors focusing on opportunities related to supply chain resilience, advanced manufacturing, and the transition to a more technology-driven economy. PwC's Global M&A Trends in Industrials and Services: 2026 Mid-Year Outlook indicates that the global deal value in 2026 is expected to be approximately 496 billion US dollars, or around 16.28 trillion baht, while deal volume is expected to decline by about 7% compared to the previous year. Steve Yang, Head of Automotive Business Clients at PwC Thailand, stated that investors are choosing to invest more prudently, seeking opportunities that strengthen supply chains, enhance competitiveness, and create long-term strategic value, particularly in AI, robotics, and electric vehicles (EVs), which are three key factors opening new investment opportunities across the Thai industrial sector. The China+1 strategy continues to attract foreign direct investment into Thailand, especially in EV components, electronics, and specialty chemicals. Meanwhile, the transition to EVs is creating opportunities across the value chain, from batteries and drive motors to partnerships with Chinese manufacturers investing in Thailand.