As global focus on sustainable development intensifies, the recycling and reuse of metal resources can effectively reduce waste, alleviate environmental pollution, and drive the green transformation of the economy. With deeper global integration in the secondary metals industry, international scrap yards and traders are playing an increasingly vital role.

Sigma Lithium announced the delivery of 150,000 tonnes of high-purity lithium fines (with 1% lithium oxide) at the Port of Vitoria, Brazil, at a price of US$140 per tonne, with an additional 350,000 tonnes available for optional sale at market prices. The company stated that the successful commercialization of this low-grade lithium fines is enabled by the Greentech Plant’s dense media separation technology, allowing customers to recover over 60% through reprocessing into high-grade lithium concentrate (lithium oxide content above 4%). In addition, Sigma Lithium has resumed production of high-grade lithium concentrate, triggering prepayments under a US$96 million production-backed revolving facility, secured by 70,500 tonnes of high-grade lithium concentrate to be supplied in 2026.

[West Africa's First Lithium Mine Awaits Approval, Ghana Seeks Better Deal] Experts stated that Ghana hopes to benefit from the lithium resource race, but its reliance on miners' revenue and expertise weakens its ability to negotiate favorable terms. After civil society groups urged Ghanaian lawmakers to take more measures to ensure the project benefits the nation and supports green development, Ghana's legislators are weighing whether to approve one of Africa's largest lithium mines. Ghana granted Australian miner Atlantic Lithium a lease to develop the country's first lithium mine, aiming to capitalize on the silver metal boom driven by EVs, as the metal is used in EV batteries and other clean technology products. However, in December, while the agreement awaited parliamentary approval, Ghanaian activists and analysts warned that the terms might disadvantage the West African nation as it seeks to benefit from the battery minerals race, prompting the government to subsequently withdraw the agreement. Source: https://www.climatechangenews.com/ [Zimbabwe's Lithium Exports Transform as Local Processing Infrastructure Develops] Zimbabwe's lithium sector infrastructure development model shows that systematic capacity building is being achieved through substantial capital investment. Huayou Cobalt's processing facility investment reached $400 million, with a target annual capacity of 50,000 to 60,000 mt, expected to be commissioned in early 2026. Similarly, Zhongkuang Group's Bikita operation involves a $500 million investment in processing infrastructure, but the commissioning time remains pending final technical debugging stages. These investments reflect a strategy of deploying processing technology, focusing on developing sulphate production capacity rather than the traditional concentrate export model. Technical infrastructure specifications include advanced chemical treatment systems capable of converting spodumene concentrates into battery-grade lithium compounds through controlled precipitation and purification processes. Furthermore, these advancements align with the region's broader critical minerals strategic initiatives. Source: https://discoveryalert.com.au/ [Causes of Lithium Metal Battery Failure and the Key Role of Mechanical Mechanisms] With the rapid development of emerging applications such as EVs, grid-level ESS, and electric aviation, demand for high-capacity energy storage is accelerating. Lithium metal is considered an ideal anode material due to its extremely high theoretical capacity and low electrochemical potential. However, during repeated charge-discharge cycles, lithium is prone to uneven deposition, forming dendrites, inert "dead lithium," and unstable interface layers. These phenomena can trigger safety hazards, reduce efficiency, and shorten battery lifespan. Traditional approaches focusing solely on electrolyte chemistry or electrochemical kinetics have proven insufficient. Given these challenges, it is necessary to conduct in-depth research on regulating the electro-chemo-mechanical coupling processes of lithium metal anodes. Researchers from Chalmers University of Technology, Kunming University of Technology, and the Wallenberg Wood Science Center published relevant perspectives in *eScience* in December 2025. The study provides a comprehensive comment on lithium metal anode behavior by modeling the lithium deposition/stripping process as an electro-chemo-mechanical coupling process. The work covers liquid and solid-state battery systems, systematically analyzing how electrochemical reactions, mechanical stress, and interfacial chemistry collectively determine lithium's morphology, stability, and failure mechanisms. The research indicates that lithium metal deposition begins with ion desolvation and nucleation, followed by a growth process significantly influenced by current density, overpotential, temperature, pressure, and substrate properties. Low overpotential and controlled current density favor lateral growth of lithium, forming dense moss-like structures that are more reversible during cycling. In contrast, high overpotential promotes vertical growth and dendrite formation. Source: https://www.newswise.com/ [India's Lithium-Ion Battery Recycling and Second-Life Application Facilities Are Revolutionizing the Energy Storage Landscape] India's emerging infrastructure for lithium-ion battery recycling and second-life application facilities represents a strategic integration of environmental needs, resource security, and economic opportunities in the world's fastest-growing clean energy market. This breakthrough in battery recycling addresses the dual challenge of managing increasing battery waste while maximizing material value through systematic recycling and reuse processes. Industrial facilities with integrated recycling and second-life application capabilities are becoming key components of sustainable energy supply chains. Furthermore, these operations are creating unprecedented demand for advanced energy storage systems, fundamentally reshaping how the industry approaches the management of retired batteries. Source: https://discoveryalert.com.au/ [Sigma Lithium Resumes Mining Operations at Mine No. 1, On-Site Employee Count Exceeds 600] Global lithium producer Sigma Lithium announced the successful resumption of mining operations at its Mine No. 1 located in Brazil's Jequitinhonha Valley region. The company focuses on supplying responsibly sourced raw materials for the new generation of EV batteries. The restart proceeded as planned, marking a significant operational milestone following the comprehensive restructuring completed in Q4 2025. The resumption of mining activities signifies the completion of a full overhaul of Sigma Lithium's mining business, which was entirely guided and managed by the company's internal technical leadership team. During the restructuring process, close coordination was maintained with specialized subcontractors responsible for providing critical equipment services such as drilling and blasting, and a local workforce composed of drivers and heavy machinery operators was established. Currently, there are over 600 active employees on site, underscoring the scale of operations and the company's commitment to regional employment. The core objectives of the restructuring were to enhance safety standards and improve overall operational efficiency. Concurrently, Sigma Lithium focused on significantly expanding its earthmoving capacity to meet the growing processing demands of its Grota do Cirilo industrial plant. By deploying a larger fleet of off-road mining equipment, the company increased its earthmoving capacity to three times the original level, ensuring a consistent and stable supply of ore to support production increase targets. The restructuring plan was partially funded by the commercial success of the high-purity, low-grade lithium oxide fine powder produced by Sigma Lithium at its Green Technology Industrial Park, which is managed using a dry stacking process. Sales of these fine powders have begun to generate substantial gross revenue. Based on recent actual transaction prices and year-end available inventory levels, the potential revenue from fine powder sales is equivalent to the production value of several months of high-grade lithium concentrate output. In addition to the aforementioned revenue, Sigma Lithium continues to receive financial support from its global client base and financing partners. These stakeholders have provided working capital credit facilities and contract guarantees linked to future production, reducing the company's reliance on third-party external financing. Source: https://www.chemanalyst.com/ [Rose West Canada Drilling Program Aims to Expand Lithium Resources] The lithium-bearing pegmatite systems in the Eeyou Istchee region exhibit characteristic structural controls, which fundamentally influence resource distribution and exploration target delineation strategies. These northwest-trending geological corridors establish a predictable framework for pegmatite emplacement, wherein the tonalitic host rocks provide a favorable chemical environment for lithium enrichment and crystallization processes. At the Rose West project area, the 10,000-meter drilling program targets pegmatite systems within a surveyed area of 450 meters by 370 meters, with thickness variations ranging from 10 to 40 meters. Structural interpretations indicate a 100-meter displacement pattern in the eastern segment of the pegmatite body, reflecting regional tectonic events that affected the resource geometry throughout the corridor. The composition of the tonalitic host rocks is crucial for creating geochemical conditions favorable for lithium mineralization. These igneous compositions provide the necessary chemical gradients that promote pegmatite melt differentiation and subsequent spodumene crystallization. The subhorizontal pegmatite geometry, combined with the documented offset patterns, provides an exploration advantage by establishing predictable structural correlations that guide a systematic drilling approach. Source: https://discoveryalert.com.au/

• Sigma Lithium announces the sale of an additional 100,000 tons of high-purity lithium ore fines based on the SMM lithium concentrate price, at a price higher than the previous sale. • The company confirms that mine restart activities are progressing as planned and are expected to be completed by January 2026, consistent with its announcement on January 13, 2026. • Sigma Lithium strongly refutes recent media reports that inaccurately described an administrative procedure initiated by Brazil's Ministry of Labor and Employment regarding the company's waste piles as an "operational ban," labeling such reports as "fake news," and states it has notified relevant authorities. On January 23, Sigma Lithium announced the sale of another 100,000 tons of high-purity lithium ore fines. In its statement, the company reiterated that the remobilization of contractor equipment and personnel at the mine site is progressing according to plan and is expected to be completed in January 2026. The company firmly denied recent media reports that mischaracterized an administrative procedure initiated by the Ministry of Labor and Employment as an "operational ban," calling them "fake news." Regarding speculative reporting by some media based on this procedure about the safety of the company's waste piles, Sigma Lithium clarified that such claims are completely false and emphasized that this administrative procedure does not constitute a material event. High-Purity Lithium Ore Fines Sales Details The transaction was conducted based on the Shanghai Metals Market (SMM) lithium concentrate price, equivalent to an adjusted net price of USD 140 per ton for each 1% Li₂O content (the current SMM price quotation for 1.35% Li₂O content is USD 195 per ton). Sigma Lithium pointed out that the revenue from these high-purity fines sales represents a "green dividend" for its shareholders, made possible by the company's investment in environmental "cutting-edge technology" at its Greentech Plant. This technology enables dry-stacking of tailings and allows for the recovery of lithium by selling high-purity fines. Consequently, Sigma Lithium possesses one of the most environmentally sustainable lithium processing facilities in the industry, integrating dry-stacking, 100% water recirculation, zero use of toxic chemicals in lithium processing, and 100% renewable power supply. Clarification Regarding Inaccurate Media Reports Sigma Lithium has recently been the subject of multiple inaccurate reports. The company stated that this is part of an organized, funded online defamation campaign that has repeatedly disseminated false, inaccurate, and misleading information about the company and its management. The latest reports containing false statements about the Ministry of Labor and Employment's administrative inquiry into the company's waste piles and their safety align with the tactics of this ongoing "fake news cyber-smear campaign": approximately one month after the inquiry's initiation and merely two days after the company's positive operational update on January 13, 2026, several "paid-writer" style online media outlets suddenly published a flood of defamatory articles claiming the company had been shut down by the Ministry or even the "Brazilian Government." These allegations were primarily published by certain Brazilian online media outlets that publish sponsored content and were subsequently republished by some international mainstream online media and news agencies lacking rigorous fact-checking practices. This defamation campaign led to significant volatility in Sigma Lithium's share price on January 16, with trading volume exceeding four times the Nasdaq daily average and the stock price dropping approximately 30%, potentially benefiting short-sellers. The company has reported the matter to relevant authorities, including FINRA (under the U.S. SEC). The Brazilian Ministry of Labor and Employment initiated an administrative inquiry regarding the company's waste piles in mid-December, following a routine health and safety inspection. During this inspection, the Ministry acknowledged the company's outstanding safety record—over two years without a lost-time injury. Sigma Lithium's management believes that this inquiry did not, at its initiation nor does it currently, constitute material information requiring disclosure, and it does not affect the company's operations, including the ongoing mine restart plan. The company's restart plan is expected to sustain approximately 19,000 direct and indirect jobs in the Jequitinhonha Valley region. This objective aligns closely with the purposes of the Brazilian Ministry of Labor and Employment, the Brazilian Government, and Sigma Lithium. Sigma Lithium's commercial success significantly enhances Brazil's leadership in critical minerals, positioning the country as a key player in the global supply chain for Li₂O materials produced in an environmentally and socially sustainable manner, thereby supporting the energy transition.

[MaxVolt Enters Lithium Battery Recycling Sector with ReEarth Division] MaxVolt ReEarth aims to create an integrated lithium battery recycling solution, covering the entire battery life cycle treatment process. This solution includes standardized disassembly or crushing of end-of-life batteries to achieve second-life application. MaxVolt Energy, a global lithium battery producer and clean energy solutions provider, recently entered India's growing lithium battery recycling market by establishing a subsidiary, "MaxVolt ReEarth." MaxVolt stated in its announcement that this move aligns with its vision of building a sustainable, independent, and integrated ecosystem to promote the popularization of electric vehicles and energy solutions in the country. This initiative has sparked increasing interest and strategic moves from existing enterprises and traditional companies in the recycling sector, as they finally see a market that is both feasible and continuously growing. The integrated lithium battery recycling solution developed by MaxVolt ReEarth spans the entire battery treatment chain, covering standardized disassembly or crushing of end-of-life batteries for second-life application, followed by black mass production and the extraction of other valuable minerals. This closed-loop system ensures that battery resources are maximally retained within the value chain, reinforcing the circular economy principles of reuse, recycling, and regeneration. Source: www.saurenergy.com [Bolivia's Lithium Extraction Faces Complex Brine Chemistry Challenges] The global shift toward electric mobility has triggered unprecedented demand for lithium-ion batteries, fundamentally altering how countries develop their mineral resources. Against this backdrop, countries with substantial lithium reserves face increasing pressure to convert geological endowments into industrial capacity. This challenge extends beyond mining to encompass technological processes, regulatory frameworks, and structures of international cooperation, which collectively determine whether underground resources can be transformed into production capacity that meets market demands. Complex brine chemistry presents unique technical hurdles that traditional salt flat extraction methods struggle to overcome efficiently. High Mg/Li ratios, excessive impurity content, and stringent processing requirements create economic bottlenecks, creating a gap between resource potential and commercial feasibility. For investors, policymakers, and industry participants assessing long-term supply security in the global battery materials sector, understanding these technical dynamics has become crucial. Bolivia's lithium extraction projects epitomize these challenges—vast reserves coexist with complex technical and regulatory hurdles. Source: discoveryalert.com.au [MinRes Lithium Production Surges 18%, Exceeding Expectations] Australia's hard-rock lithium mining industry demonstrates how exceptional operations, combined with recovering commodity prices, can create opportunities for sustainable production expansion. Western Australia's Lithium Triangle has become a critical link in the global battery materials supply chain, with producers achieving over 70% beneficiation recovery rates while navigating price volatility and capital allocation decisions amid market transitions. The convergence of technological processing improvements, strategic partnership formations, and balance sheet optimizations provides a framework for understanding how Australia's lithium sector expanded capacity under favorable market conditions. This operational expansion was realized through systematic ore processing efficiency gains, maintenance of cost structures, and capital deployment strategies that prioritized both growth and financial stability. Australian lithium producers increasingly leveraged equity partnerships with downstream Asian manufacturers to secure both growth capital and demand certainty. The partnership between Mineral Resources and POSCO exemplifies this strategy—the South Korean steel producer acquired a 30% stake in the Wodgina and Mt Marion projects for $765 million. This deal structure injected substantial capital into the Australian projects while retaining operational control and ensuring access to Asia's battery materials supply chain. These partnerships signify an evolution from traditional offtake agreements toward integrated supply chain relationships. Asian partners gained direct exposure to hard-rock lithium production assets, while Australian operators secured funding for expansion without ceding operational control or strategic decision-making authority. Source: discoveryalert.com.au [India to Announce Lithium, Nickel Processing Incentives, Sources Say] India plans to soon offer incentives to enterprises setting up lithium and nickel processing plants to help boost production and meet growing demand for critical minerals, according to two sources and a government presentation reviewed by Reuters. India is seeking to accelerate its energy transition and cut emissions by promoting clean energy initiatives such as EVs, but it lacks the technology to process critical minerals, a capacity primarily dominated by China. Nickel and lithium are crucial for India's EV supply chain, especially for batteries, as New Delhi aims for EV penetration rates of 30% for cars and 80% for two-wheelers by 2030, up from the current rates of 4% and 6%, respectively. The incentive scheme proposes a 15% capital subsidy, subject to a cap, on eligible investments in lithium and nickel processing projects that commence on or after April 1, 2026, according to the presentation. One source described the 15% capital subsidy as "realistic." The Indian Ministry of Mines, which is responsible for the proposal, did not respond to an email from Reuters seeking comment. According to the presentation, under this plan, the incentives will last for five years, with the incentive cap for lithium processing plants set at 40% of annual net sales turnover, and 25% for nickel processing plants. To qualify for the incentives, lithium processing plants must have a minimum capacity of 30,000 mt, while nickel plants require at least 50,000 mt. Source: [Important Announcement from Sigma Lithium] Sigma Lithium, a leading sustainable global lithium producer headquartered in Brazil (TSXV: SGML; Nasdaq: SGML; B3: S2GM34), announced the sale of 100,000 mt of high-purity lithium concentrate at market price (linked to the SMM index, with an adjusted net price of $140 per mt, corresponding to 1% lithium oxide content), which is higher than previous sales. This revenue is defined as a "green return" to shareholders, stemming from the cutting-edge environmental technology employed at the company's green tech plant (dry-stacked tailings, 100% water reuse, zero toxic chemicals, 100% renewable energy). The company confirmed that its mine restart plan (reactivation of equipment/personnel contractors) is on schedule for completion in January 2026, as initially disclosed on January 13, 2026; this work sustains approximately 19,000 direct/indirect jobs in Brazil's Jequitinhonha Valley region and aligns with the Brazilian government's labor and economic objectives. Sigma Lithium strongly refuted the "fake news" in recent inaccurate media reports, which mischaracterized a routine administrative investigation by the Labor Ministry into its scrap storage area as an "operational ban" and falsely questioned the safety of the scrap storage. The Labor Ministry investigation, initiated in mid-December 2025, stemmed from a routine health and safety inspection (which confirmed the company's operational record of over two years without lost-time incidents) and is considered a non-material event with no impact on the company's operations or restart plan. Source: sigmalithiumcorp.com

RIO DE JANEIRO, Jan 15 (Reuters) - Brazil's Labor Ministry has shut down three waste piles at Sigma Lithium's (SGML.V), opens new tab ‌flagship mine in the state of Minas Gerais, citing a "grave and imminent" risk to workers and the local community, according to documents seen by Reuters.

Brazil's Ministry of Labor has urgently ordered the shutdown of three waste piles at Sigma Lithium's flagship mine in Minas Gerais over safety hazards, citing "grave and imminent" risks to workers and the local community. As Brazil's largest lithium mine with an annual capacity of 270,000 metric tons of lithium concentrate, the facility has been inactive since October. Although Sigma Lithium stated that the closure order does not affect its overall operations or plans to resume production, emphasizing that the waste consists solely of non-contaminated soil, authorities warned that the risk persists—a potential collapse of the waste piles could bury nearby houses or spill into the Piaui River. During an earnings call in November, the company had anticipated restarting production within two to three weeks, but operations have yet to resume. Last week, Bank of America downgraded its rating due to uncertainty over the production restart timeline, causing its stock to plunge 15% in a single day. Although the company announced on Tuesday that it is advancing its restart plan, its appeal against the December 5 order to close access to the waste piles was recently rejected.

Sigmaintell estimated that the average capacity utilization rate of major global wafer fabs in Q3 2025 was approximately 86%, up about 6 percentage points YoY. The overall recovery in capacity utilization is relatively optimistic, and it is expected to exceed 90% within 2026. Driven by applications such as automotive and industrial control, demand for 8-inch wafers rebounded significantly, and prices have stabilized and rebounded since Q3 2025. For 12-inch wafers, overall prices remained stable, while some applications still experienced minor price reductions to secure orders.

[IGO Sees Uncertain Future for Western Australia's Kwinana Lithium Refinery] IGO Limited expressed a lack of confidence in the future prospects of its Kwinana lithium refinery located in Western Australia. The Kwinana plant, situated south of Perth, is jointly owned by IGO and its joint venture partner. In January this year, the joint venture announced the suspension of construction for the plant's second production line, as the first line continued to struggle to reach its designed capacity. IGO's Chief Executive Officer, Ivan Vella, addressed the challenges faced by the plant at the company's annual general meeting held in Perth. He stated that the company is continuing negotiations with its joint venture partner regarding the plant's future, acknowledging differing views between the parties, but also emphasized the importance of the partnership. Regarding the second production line, Vella said, "We see no path forward, hence the decision was made on the second line." He confirmed that discussions concerning the first line are still ongoing. The company reported a significant impairment on its Kwinana investment in its full-year results. Official operational data for the September quarter was provided: the plant operated at 46% of its nameplate capacity, producing 2,775 mt of lithium hydroxide. Production increased by 31% compared to the previous period. Meanwhile, processing costs decreased by 18% to A$14,177 per mt. Despite these improvements, the operation recorded an EBITDA loss of A$19.6 million. In contrast, IGO highlighted the strong performance of its stake in the Greenbushes lithium mine. In the 12 months ended June 30, Greenbushes produced 1.48 million mt of spodumene concentrates. The operation generated significant cash flow and maintained highly competitive low unit costs. A new chemical-grade plant at Greenbushes remains scheduled for commissioning before the end of the year, which is expected to add a further 500,000 mt of capacity annually. Source: [Rebounding Lithium Prices Boost SQM's Profitability and Demand Outlook] Chilean lithium producer SQM reported on Wednesday that lithium demand this year could grow by 25% compared to 2024. The company posted its highest battery metal prices in two years and attributed this growth to developments in the EV and ESS sectors. Rising prices drove SQM's Q3 net profit to $178.4 million, up 36% YoY from $131.4 million. Revenue also increased by 8.9% YoY to $1.17 billion ($1.08 billion). SQM stated that market demand during the July-September period was stronger than expectations. CEO Ricardo Ramos expressed cautious optimism during the earnings call. "Despite the market remaining highly volatile, we are cautiously optimistic," he stated, expecting this trend to continue into Q4. "The fundamental demand remains strong, not only from EVs but also from energy storage systems." Meanwhile, SQM announced a significant narrowing of its investment outlook for 2025-2027. The company revised its capital expenditure estimate down to $2.7 billion from the previous range of $3.1 billion to $3.8 billion. The company confirmed that some investment decisions have been delayed but reaffirmed its existing production and sales targets. According to the company, the revised capital expenditure will be averaged over the coming years, with approximately one-quarter allocated to maintenance. Looking ahead, Pablo Hernandez, Vice President of Strategy and Development for SQM's Chilean lithium business, forecast that lithium demand will exceed 1.5 million mt this year and is expected to reach 1.7 million mt by 2026. Discussing the outlook for the coming year, Hernandez noted: "We are still evaluating demand growth expectations and maintain a relatively conservative view." SQM also confirmed that its planned collaboration with state mining company Codelco to increase lithium production at the Atacama Salt Flat is expected to be finalised by the end of this year. The company stated that only approval from Chile's Comptroller General is currently pending. Regarding the timetable for this collaboration, Ramos said: "We will complete it this year, that is certain." Source: [Sigma Lithium's Strong Q3 Results and Rumored EV Collaboration Spark 33.2% Stock Surge – What's Next for the Share Price?] Over the past week, Sigma Lithium Corporation released its Q3 2025 financial report, with key highlights including sales increasing to $28.55 million and a significantly narrowed net loss compared to the previous year. Continued market speculation about a potential collaboration with a leading EV manufacturer, coupled with a positive global lithium demand outlook, further boosted investor optimism regarding Sigma Lithium's growth trajectory and sustainable development capabilities. Sigma Lithium Investment Thesis Recap Investing in Sigma Lithium requires belief that global lithium demand, particularly from the EV sector, will continue to surge, and recognition that the company can capitalize on this opportunity through its ESG reputation and growth plans. The latest quarterly report shows sales growth and a narrowed net loss, but the short-term most critical catalyst – finalising an EV collaboration – remains unconfirmed; simultaneously, the company still faces lithium price volatility risks, with recent news not bringing substantial change. In recent announcements, Sigma Lithium's ongoing operational upgrade plan has garnered significant attention, aiming to reduce plant gate costs by 20%. This initiative directly impacts short-term profitability, helping the company withstand price fluctuations, while efficient production remains a key catalyst for ensuring profit margins in a rapidly changing market. However, investors should note that even with these operational improvements, the downside risk of short-term lithium price declines remains an important influencing factor, potentially leading to... Sigma Lithium's performance expectations indicate that by 2028, revenue is expected to reach $600.1 million, with a net profit of $57.4 million. Achieving this goal requires maintaining an annual revenue growth rate of 64.6% and improving the current net profit level of -$47.7 million by $105.1 million. Source: [Canada Discovers Six New High-Grade Lithium-Enriched Zones] Six new lithium-bearing rock zones have been discovered in the Jackpot mine area in Northern Ontario, Canada, marking an important step in understanding the scale of the region's lithium resource potential. These target zones are concentrated near an existing open-pit minable body, suggesting that future development could potentially share infrastructure and logistics resources, reducing costs. Located approximately 87 miles northeast of Thunder Bay, the discovery site boasts favorable geological conditions and a mature transportation network, making it one of Canada's most accessible lithium ore exploration sites. This discovery adds a new growth area for battery raw material exploration in Canada, further solidifying the country's important role in supplying critical minerals for the EV and renewable energy ESS sectors. Progress in Canadian Lithium Resource Mapping The newly discovered lithium-bearing zones are located within the Georgia Lake Rare Elements mineral property, an area widely distributed with pegmatite—a very coarse-grained granite that can host lithium minerals, often occurring as dikes and swarms. The property covers a forested ridge area with good road access and ample power supply nearby. This exploration work was led by the Canadian geological engineering firm P&E Mining Consultants Inc., which is also responsible for preparing the project's mineral resource estimate. Their team focuses on mineral resource modeling and project evaluation, with related results incorporated into provincial archives. According to Canadian mineral disclosure rules, the project's initial mineral resource estimate shows indicated resources of approximately 3.4 million short tons (1 short ton ≈ 0.907 mt) grading 0.85% Li₂O, and inferred resources of approximately 5.8 million short tons grading 0.91% Li₂O. Geologists have classified the "Jackpot" mining area within the mature rare-element mineral belt already mapped by researchers in Ontario. The Georgia Lake mineral belt has a history of spodumene discoveries in several sub-regions, providing a solid foundation for exploration. Core Criteria for Resource Estimation The cut-off grade for open-pit mining at the Jackpot property is set at 0.30% lithium oxide. Conversion from Lithium-Bearing Ore to Lithium Concentrates The lithium mineral at the Jackpot property is spodumene, a lithium aluminum silicate mineral and the primary source of battery-grade lithium chemicals from hard rock, occurring as pale green crystals in pegmatite. Laboratory tests indicate the ore can be upgraded to produce lithium concentrates with a 6% lithium oxide grade; the recovery rate used in the company's technical page resource cut-off grade assumption is 81.5%. Heavy liquid separation and related processes are common techniques in early-stage testing. In the laboratory, heavy liquid separation uses high-density liquids to separate minerals based on density differences, allowing for a quick assessment of the feasibility of simple gravity separation processes. Industry guidelines for hard-rock lithium ore processing note that initial heavy liquid separation test results typically guide subsequent heavy medium separation tests. In industrial-scale production, enterprises often employ heavy medium separation—where crushed ore is placed in a high-density slurry for sink-float separation—followed by flotation to purify the product. This combined process increases lithium recovery while maintaining low iron content. Current Significance of the Discovery The battery sector is the largest consumer of lithium; the U.S. Geological Survey (USGS) 2025 summary report estimated that approximately 87% of global lithium production is used in battery manufacturing. Canada is focusing on shortening the supply chain between mines, processing plants, and battery factories. The Jackpot property's proximity to highways and a deep-water port can reduce transportation time and enhance future sales flexibility. The property covers a total area of approximately 72.6 square miles, providing ample space for extensional exploration beyond the two currently modeled open pits. Six newly identified surface target areas are located near roads, facilitating follow-up exploration work. Source: [Sigma Lithium's Strong Q3 Results and EV Collaboration Rumors Drive a 33.2% Stock Surge – What's Next for the Share Price?] Over the past week, Sigma Lithium Corporation released its Q3 2025 financial report, with key highlights including sales increasing to $28.55 million and a significantly narrowed net loss compared to the previous year. Market speculation about the company's potential collaboration with a leading EV manufacturer, combined with a positive global lithium demand outlook, has further boosted investor optimism regarding Sigma Lithium's growth trajectory and sustainable development capabilities. Review of Sigma Lithium's Investment Thesis Investing in Sigma Lithium requires belief that global lithium demand (particularly from the EV sector) will continue to surge, and confidence that the company can capitalize on this opportunity through its environmental, social, and governance (ESG) reputation and growth plans. The latest quarterly report showed sales growth and a narrowed net loss, but the most critical short-term catalyst—finalising an EV partnership—remains unconfirmed; meanwhile, the company still faces lithium price volatility risks, and recent news has not brought substantial changes. Among recent announcements, Sigma Lithium's ongoing operational upgrade plan, which aims to reduce plant gate costs by 20%, has drawn significant attention. This initiative directly impacts short-term profitability, helping the company withstand price fluctuations, while efficient production remains a key catalyst for protecting profit margins in a rapidly changing market. However, investors should note that even with these operational improvements, short-term lithium price downside risk remains a significant factor, potentially leading to... Sigma Lithium's performance expectations indicate that revenue could reach $600.1 million by 2028, with a net profit of $57.4 million. Achieving this target requires maintaining an annual revenue growth rate of 64.6% and improving the net profit by $105.1 million from the current level of -$47.7 million. Source:

[Prairie Lithium Initiates Construction of North America's Largest Direct Lithium Extraction (DLE) Plant] Australian company Prairie Lithium has commenced construction of a facility in Saskatchewan, Canada, which it claims will become North America's largest direct lithium extraction (DLE) facility. Currently, the largest known DLE plant is operated by Standard Lithium in Arkansas, US. In March 2024, this Canadian company successfully installed and commissioned a commercial-scale Li-Pro Lithium Selective Sorption (LSS) unit supplied by Koch Technology Solutions (now renamed AquaTech). In comparison, Prairie Lithium's facility will be equipped with four commercial-scale DLE columns, expected to arrive by April 2026. The company stated that the successful de-risking validation of a commercial-scale DLE column in Arkansas over the past 18 months, combined with the high-grade brine resources of its lithium project, provides confidence in the technology's performance and scalability. Construction of the lithium extraction plant at Mine 1 has now begun, with foundation work expected to be completed in Q1 2026, followed by the start of plant building construction. The company has submitted an application to Saskatchewan Power Corporation to connect Mine 1's drilling and plant operations to the power grid. "The start of construction for the lithium extraction plant at Mine 1 is a significant step on our critical path to production. The foundation we are laying today will support what is known to be the largest DLE facility in North America," said Paul Lloyd, Managing Director of Prairie Lithium, in a press release. Lloyd added that the scale of the plant demonstrates the maturity of the Prairie Lithium project. The company plans to use traditional oil and gas drilling and completion techniques to extract lithium-rich brine from aquifers approximately 2.3 km underground, then separate the lithium resources via DLE technology. The project holds underground mining rights covering over 345,000 acres in the Duperow Formation, with controlled and inferred resources estimated to be equivalent to 4.6 million mt LCE. Source: mining.com [Smackover Formation in Texas Sets High-Grade Standard for Lithium Brine] Smackover Lithium (a joint venture between Standard Lithium and Equinor, with a 55:45 ownership split) stated that the initial inferred resources from its Franklin project in northeastern Texas indicate the highest lithium brine grade in North America. According to a press release issued on Wednesday, the project's total brine volume is 0.61 cubic kilometers, with an average lithium content of 0.668 grams per liter, equivalent to 2.16 million mt LCE. The company also reported that the project contains 15.4 million mt of potash (in the form of KCl, recently included in the U.S. Geological Survey (USGS) draft critical minerals list) and 2.64 million mt of bromides. Standard Lithium, which operates the joint venture, stated in a press release: "This preliminary project definition is a key step toward our multi-phase construction goal of ultimately achieving an annual lithium chemical production capacity of over 100,000 mt in Texas." The project integrates mining with oil and gas technology, a collaborative model that is becoming a trend in the development of the Smackover Formation—a widespread limestone formation extending from Texas through Louisiana, southern Arkansas, Mississippi, and Alabama to the Florida Panhandle. ExxonMobil (NYSE: XOM) plans to achieve initial production as early as 2027, while Albemarle and Standard Lithium have also expanded their footprint in Arkansas. On Wednesday afternoon, Standard Lithium's stock price rose 2.2% to C$4.64 in Toronto, bringing its cumulative gain over the past 12 months to nearly 50%. The company's market capitalization is approximately C$1.1 billion (US$880 million). Subsequent Plans Key risks include scaling up direct lithium extraction (DLE) technology for stable commercial operation; securing and permitting electricity, water sources, and reinjection capacity while maintaining reservoir pressure; coordinating royalties and lease terms across multiple landowners; securing offtake agreements and financing amid lithium price volatility; and demonstrating reservoir connectivity and grade stability over the full mine life cycle. Additionally, establishing a stable value chain for by-products such as potash and bromine represents a hurdle to market entry. The Rise of the Smackover The Franklin project, located about 400 km northeast of Austin (near Mount Vernon), covers a total area of approximately 323.8 km² (80,000 acres), with over 186 km² already leased for resource development. Previous testing at the Pine Tree No. 1 well measured a brine lithium content of 806 mg/L. If successfully developed, two additional East Texas projects advanced by the joint venture in Texas could roughly triple the company's project scale in the state. Texas' royalty and lease terms differ from those in Arkansas, which will be a key factor influencing project economics. Although the U.S. Geological Survey and Arkansas officials noted last year that the Smackover Formation brines hold potential for millions of tons of lithium resources, as of mid-October, the price of this battery metal had fallen 8% YoY, with only a slight rebound in November. On October 10, Fastmarkets assessed the Chinese battery-grade lithium carbonate price at 72,500–73,000 yuan/mt (slightly over $10,100), hitting a one-year low. The Wall Street Journal reported on Wednesday that, influenced by restocking and selective production cuts, the price of lithium carbonate rebounded to $10,925/mt, still far below the peak of around $88,500/mt seen in November 2022. Direct Lithium Extraction (DLE) Technology The development plan for the Smackover region involves direct lithium extraction (DLE) technology: extracting brine, selectively capturing and purifying lithium, and then reinjecting the brine. This technology can shorten the production cycle from several months to a few hours and reduce land use, although the unit cost may be higher than traditional evaporation methods. Standard Lithium plans to draw on operational data from its demonstration plant in El Dorado, Arkansas, as well as experience from its project in southwestern Arkansas. Other enterprises adopting DLE technology include Occidental Petroleum and Berkshire Hathaway Energy, which are testing lithium extraction from geothermal brine at the Salton Sea in California; E3 Lithium, which is advancing a DLE project for Alberta's brine; and SQM, which claims to have achieved high recovery rates in its Chilean trials. In terms of funding, the US Department of Energy (DOE) has indicated it is considering investing up to $225 million in Standard Lithium's southwestern Arkansas project. Source: mining.com [Sigma Lithium, Once a Lithium Industry "Star Stock," Faces Multiple Troubles as Its Stock Price Plummets 29%] Sigma Lithium Corp.'s stock price continued to plummet sharply, with growing market concerns over its short-term capacity and potential delays in a key expansion project. The stock, once regarded as an industry "star stock," recently took a sharp downturn, losing nearly one-third of its market value this week and recording the worst two-day decline in 21 months. On Tuesday, the stock fell more than 7%, becoming one of the worst performers in the lithium mine producer index. Previously, Sigma abruptly replaced its mining contractor last month, stating the move was to enhance operational efficiency at its flagship mine in Brazil. Relevant sources indicated that plans to introduce higher-tonnage trucks and modernize some equipment could increase capital expenditures and delay the expansion project's progress. Relevant sources believe "the exact cause of the recent stock price volatility remains uncertain, but it is known that the market has many questions regarding the mining contractor change, balance sheet issues, and other factors, leading to Sigma's underperformance during the current lithium price rebound." Currently, Sigma is facing dual pressures from weak battery metal prices and intensified investor scrutiny. The company has not yet responded to requests for comment. After a 64% shrinkage in market value in 2024, Sigma's stock price has accumulated a decline of over 50% this year. The global lithium market is in turmoil: electric vehicle (EV) demand growth fell short of expectations, and adjustments to clean energy policies for the world's largest economy by US President Donald Trump have further exacerbated market difficulties. Source: mining.com [California Lithium Firm Plans 2026 Listing to Attract US Government Investment] A California-based lithium company plans an initial public offering (IPO) next year to make itself an attractive investment target for the US federal government. Controlled Thermal Resources (CTR), which has operated privately for over a decade, aims to spin off its mineral assets and part of its geothermal power business into a publicly listed firm named American Critical Resources by July next year. CEO Rod Colwell stated the company must first commercialize its unproven direct lithium extraction (DLE) technology to produce lithium metal for EV batteries required by Stellantis and General Motors, and is currently selecting a listing venue between the NYSE and Nasdaq on the Intercontinental Exchange. US Government Investment The IPO plan comes as Washington's wave of investment in publicly traded mineral projects intensifies, including in rare earth producer MP Materials and Lithium Americas, which is part of President Donald Trump's goal to reduce US reliance on market-dominant China. Colwell said, "If MP Materials were private, would the federal government have acted as it did? A pattern seems to have emerged in Washington, showing a preference for working with publicly listed firms because they offer a path to liquidity." When asked if the IPO aims to secure US government funding, Colwell replied, "Absolutely." Colwell, who will become CEO of American Critical Resources and whose family controls the majority of CTR's private shares, declined to provide a valuation estimate for the new company, adding that discussions are still in early stages. Challenges in Commercializing DLE Technology Like its peers, the company has struggled for years to commercialize DLE technology, which proponents claim is more sustainable than the two most common lithium production methods: open-pit mines and evaporation ponds. The company missed its own 2024 deadline to supply General Motors. The project, located at the Salton Sea about 160 miles (258 km) southeast of Los Angeles, is scheduled to begin lithium production in 2028 and was placed on the Trump administration's fast-track approval list. In addition to lithium, the new company also plans to produce zinc, manganese, and potash fertilizers from the brine extracted from deep reservoirs, which are rich in various critical minerals. Australian consulting firm Hall Chadwick and investment bank Cohen & Co. are providing advisory services for this IPO process. The Salton Sea project faces litigation from the environmental protection organization Earthworks over water usage issues. Earlier this year, the state court ruled against the environmental protection organization, which is now appealing. This latest move by California in the lithium sector comes at a time when competition among domestic stakeholders in the United States to lead the deployment of direct lithium extraction (DLE) technology is intensifying. For example, Arkansas is striving to outpace California in this regard. Source: mining.com