news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    ELON MUSK’S HUGE WARNING! 🚨 CRYPTO NEWS TODAY 🔥 CRYPTOCURRENCY NEWS LATEST! 🔥 BITCOIN NEWS TODAY

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

    IIF CEO Adams on Banking Risks, Cryptocurrency Regulation

No Result
View All Result
news4global
No Result
View All Result
Home Blockchain

Electric Vehicle Giant BYD in Talks to Buy Lithium Mines in Africa, per Reports

June 4, 2022
Reading Time: 4 mins read
0
Electric Vehicle Giant BYD in Talks to Buy Lithium Mines in Africa, per Reports
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

January 31, 2023
Pi Chain Mall Sets to Open Withdrawals for Real Pi

Pi Chain Mall Sets to Open Withdrawals for Real Pi

January 30, 2023

Chinese electric vehicle giant BYD (OTC: BYDDY) is reportedly in talks to buy six lithium mines in Africa, Reuters reported on Tuesday. The news agency said that it had not verified the story, which it sourced from the Chinese government-backed The Paper.

Before we dive into this topic, investors should know that investing legend Warren Buffett’s Berkshire Hathaway owns a big stake in BYD. That fact alone would seem to make BYD stock well worth putting on your watch list.

Image source: Getty Images.

Does it make sense that BYD wants to buy lithium mines?

While a question mark might surround the veracity of this story, it makes perfect sense that one of the world’s largest EV makers — which is also a top maker of lithium-ion batteries — would be interested in obtaining resources that contain lithium.

Demand for the metal has been surging because consumers are increasingly snapping up EVs, which are powered by lithium-ion batteries. Lithium’s tight supply relative to demand has lit a fire under the price of the metal, leading to increased production costs for EV makers, which either purchase their batteries from suppliers or manufacture them in-house.

EV and lithium-ion battery makers are concerned that a lithium shortage could curtail their longer-term production plans, many of which are lofty.

Being as vertically integrated as possible helps companies reduce the risk of encountering supply chain constraints. So, it makes great sense that large EV makers and battery makers — and BYD falls into both categories — would want to own lithium-containing resources.

For this reason, I’m inclined to believe the story that BYD is interested in buying African lithium mines. At the very least, it would seem likely the company is searching for some lithium resources to acquire.

What details were included in the BYD-African lithium mines story and what can we infer?

The six lithium mines in Africa that BYD is reportedly considering acquiring have “total resources of lithium oxide at 2.5% grade estimated at more than 25 million tonnes,” according to the super-brief Reuters article.

Assuming this report is accurate, we can glean two key pieces of information from it. First, the grading being stated in terms of lithium oxide content indicates that the African mines are hard-rock mines rather than brine mines. (Currently, as I recently detailed, lithium for commercial use is only extracted from either rock or brine.) Resource grading for brine mines is commonly expressed in milligrams/liter (mg/L).

Second, a 2.5% lithium oxide grade is a relatively high resource grade. No doubt, such a resource would attract the attention of potential buyers in the current lithium market.

But there’s a big caveat. What’s much more important than the grading of a lithium resource is the grading of the lithium reserve. A mineral reserve is the subset of a mineral resource that has been deemed currently economically viable to mine.

How many operating lithium mines are in Africa?

There was just one operating lithium mine in Africa, as of a June 2021 report by the British Geological Survey. This hard-rock mine is in Bikita, Zimbabwe.

“Many African countries (most notably Zimbabwe, Namibia, Ghana, Democratic Republic of Congo and Mali) have lithium resources and the potential for lithium mines,” according to the BGS report. Moreover, it indicated that there were quite a few African lithium mining projects — all hard rock — at various points in the exploration and development stage.

In short, it would be a positive for BYD to obtain one or more sources of lithium. Doing so would enable the company to de-risk its supply chain and better ensure that it has enough of the metal to meet its future production goals.

10 stocks we like better than BYD
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

They just revealed what they believe are the ten best stocks for investors to buy right now… and BYD wasn’t one of them! That’s right — they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of April 27, 2022

Beth McKenna has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends BYD and Berkshire Hathaway (B shares). The Motley Fool recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Share76Tweet47

Related Posts

Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

by admin
January 31, 2023
0

Bitcoin fell along with Ether and all other top 10 non-stablecoin cryptocurrencies in Tuesday morning trading in Asia, wiping out...

Pi Chain Mall Sets to Open Withdrawals for Real Pi

Pi Chain Mall Sets to Open Withdrawals for Real Pi

by admin
January 30, 2023
0

Learn about the great support BNB Chain has given Mr. Lightspeed and why that has been crucial to building on...

Crypto Mining Russia Ban Residential Areas Electricity Duma Mining Fires

Crypto Mining Russia Ban Residential Areas Electricity Duma Mining Fires

by admin
January 30, 2023
0

Advisers to the Russian government have recommended a ban on crypto mining in residential areas of the country. The main...

The Rise of AI-Focused Projects in 2023 – Blockchain Bitcoin News

The Rise of AI-Focused Projects in 2023 – Blockchain Bitcoin News

by admin
January 29, 2023
0

Trends show that artificial intelligence (AI) will be a major topic in 2023, as data indicates a surge in interest....

Cryptocurrency Price Today: Popular Coins Like Bitcoin, Dogecoin Witness Gains While Ethereum Sees Losses

Cryptocurrency Price Today: Popular Coins Like Bitcoin, Dogecoin Witness Gains While Ethereum Sees Losses

by admin
January 29, 2023
0

Bitcoin (BTC) and Ethereum (ETH) — two of the most valued crypto coins — managed to rise above the $23,000...

Load More
  • Trending
  • Comments
  • Latest

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Economic Survey 2023 Common Approach A ‘Necessity’ To Regulate Crypto RBI

Economic Survey 2023 Common Approach A ‘Necessity’ To Regulate Crypto RBI

January 31, 2023
SEC settles on security claim in LBRY case, community calls it a big win for crypto

SEC settles on security claim in LBRY case, community calls it a big win for crypto

January 31, 2023
Snoop Dogg, Billy Ray Announce NFT Project; Elon Musk Backs Crypto Payments For Twitter

Snoop Dogg, Billy Ray Announce NFT Project; Elon Musk Backs Crypto Payments For Twitter

January 31, 2023
Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

Bitcoin falls in crypto pull back ahead of Fed meet on interest rates

January 31, 2023

Latest News

Economic Survey 2023 Common Approach A ‘Necessity’ To Regulate Crypto RBI

Economic Survey 2023 Common Approach A ‘Necessity’ To Regulate Crypto RBI

January 31, 2023
SEC settles on security claim in LBRY case, community calls it a big win for crypto

SEC settles on security claim in LBRY case, community calls it a big win for crypto

January 31, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global