Mine auction draws 3,448 bids amid scramble for lithium
An auction for a controlling stake in a Chinese lithium mine has garnered 3,448 bids, underscoring the scramble to secure the battery metal that’s key to the clean-energy transition.
![]()
The 54.3% stake in Yajiang Snowway Mining Development, which owns the mine in Sichuan, a southwestern province in China, was sold for about 2 billion yuan ($300 million), according to JD.com.
The heated bidding war, which concluded on Saturday, was joined by 21 participants, while over 980,000 people watched online throughout the five-day event.
“We believe the auction price indicates a bullish Chinese primary market for future lithium prices as well as the strategic importance of Sichuan spodumene assets,” Daiwa Capital Markets’ analysts Dennis Ip and Leo Ho said in a note.
The shift to electric vehicles has spurred a global rush for lithium, which is used in virtually all EV batteries, and seen Chinese prices of lithium carbonate surge more than 400% over the past year.
The highest bid in a tender in April by Australia’s Pilbara Minerals Ltd. for spodumene concentrate, a partly-processed form of lithium, more than doubled in just six months.
Yajiang Snowway is undergoing a bankruptcy process.
The Dechenonba lithium mine in Sichuan’s Yajiang area covers 1.14 square kilometers, with estimated reserves of 24.9 million tons and a planned 1-million-ton capacity per year.
www.mining.com/category/battery-metals/
View attachment 7584
So what's Manono worth
The Roche Dure Pegmatite has a proven length of at least 2,100m.
The Carriere de l’Este Pegmatite, with a mapped length of about 5,500m, is potentially the largest pegmatite in the Manono Project.
View attachment 7585
No wonder those "Grasshoppers" want a piece![]()
There isnt much happening with markets overall atm.....snooze festGood morning all
Anyone for a coffee? Flat White, one sugar?
Haven't seen or heard any new or relevant info now for a while
Very much just waiting for the official announcements
Nothing much else to do....
View attachment 7645
All good Beisha!There isnt much happening with markets overall atm.....snooze fest
View attachment 7650
How is the covid going champ ?
My portfolio is up a whole $585.00 today...........
Make that $440 and counting down
View attachment 7670
If this is Your Boring, I'd love to see your ExcitingI'd not like to see another extension at this point myself, it's all got a bit too boring.
I just hope we've not been locked into a position where the cami paperwork can't be sorted out and the licence issued until the % ownership dispute is settled.
We just need to get on with building the mine ffs. In the background who knows how much this crap has set us back already. Not hard to imagine a fair bit imo.
There's only so much of reading the same article over and over again one man can take. Bored to death by boatman.If this is Your Boring, I'd love to see your Exciting
Agree with the building the mine ffs, it'll happen Sam![]()