Referring to the Ironridge Resources [ IRR ] RNS/ANN of 27 Aug 2020 [Thurs] re:IRR joining European Battery Alliance as a member] there is further news from the EU just out:
"EU SOUNDS ALARM ON CRITICAL RAW MATERIALS SHORTAGES."- Financial Times, 7 hrs ago, Mon 31 Oct 2020.
Link: https://twitter.com/hjesanderson/status/1300356103826558977
Highlights:
"The EU*s over-reliance on imports of critical raw material threatens to undermine crucial industries and expose the bloc to SUPPLY SQUEEZES by C and other resource rich countries, the European Commission will warn member states, this week."
"SHORTAGES of elements used to make batteries and renewable energy equipment would also threaten the bloc*s target of becoming carbon neutral BY 2050.."
"The era of a conciliatory or naive Europe that relies on others to look after its interest is o v e r."
"The EU estimates that to meet its climate neutrality goal, it WOULD NEED UP TO 1 8 T I M ES MORE L I T H I U M & 5 times more c o b a l t in 2 0 3 0. The forecasts rise to 6 0 TIMES MORE L I TH I U M & 15 times more cobalt B Y 2 0 5 0."
"Lithium:
But a host of companies is aiming to mine & refine the element in Europe.
Infinity Lithium seeking a permit to mine in Spain.
Savannah Resources wants to develop an open-pit in Portugal.
German start-up Vulcan Energy Resources looking to extract it from geothermal waters.
Europe*s biggest resource, however, may be RIO*s Jadar deposit in Serbia.
Still, none of these projects is likely to enter production in the NEXT 2 TO 3 YRS, when experts say, DEMAND FOR LITHIUM IN EUROPE FROM CARMAKERS IS SET TO SURGE."
"Europe can reduce its IMPORT dependency, it can support DOMESTIC MINING - but it is UNLIKELY in the critical battery raw materials that it will EVER BE SELF-SUFFICIENT, said Andy Leyland, an analyst at Benchmark Mineral Intelligence, a consultancy."
"Proposals ...ignite the debate on how much ramping-up or re-shoring of production in EU is possible-or desirable, given the environmental damage that comes with BIG MINING PROJECTS."
====
My Comment:
From my post above re: IRR & European Battery Alliance membership dated 27 Aug 2020, this article from the FT today relating to the whole EU critical material needs etc explains the said IRR-EBA membership.
This FT article certainly does enlighten relating to the reports out. The article is interesting and gives a lot of details about the other critical metals besides lithium and cobalt.
sol1
Mon, 31 Oct 2020.
Public Holiday - London market.
Mines & Money Global starts today and IRR said to listen and watch out for the presentations etc.
So, we await more news to come from Ironridge via RNS/ANN relating to their projects which includes lithium in Ghana & gold in Chad & Cote d*Ivoire at the moment.
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