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A Chinese company recently secured a contract with a Zimbabwean lithium mine to export the metal, which is vital to the manufacture of batteries used in electric vehicles (EVs), to China starting in 2023, Deutsche Welle (DW) reported Monday. The China-based Suzhou TA&A Ultra Clean Technology Co. beat out nearly a dozen competitors from other regions including Europe and Australia to secure its lithium export contract with Zimbabwe’s Zulu Lithium Mines, which is a subsidiary of Premier African Minerals, DW reported on July 11. Zulu Lithium Mines’s chief executive, George Roach, told Reuters on Monday that the firm chose to do business with Suzhou TA&A Ultra Clean Technology Co. “from a swarm of Chinese, European and Australian investors.” “At one point, I was involved with 11 separate negotiations with people all wanting Zulu!” Roach said, adding, “It was a very intense period.” Premier African Minerals plans to start shipping a lithium-containing rock called … [Read more...] about Lithium: China Secures Zimbabwean Source of Metal Used in EVs

(Reuters) - Panasonic Energy Co, a major Tesla supplier, is working on new technology to increase battery energy density by a fifth by 2030, the Japanese company's chief technology officer told Reuters. That gain, if achieved, could boost the driving range of a Model Y, for example, by over 100 km (62 miles) with the same size battery pack. Alternatively, it could allow manufacturers to create roomier and possibly lighter electric vehicles (EVs) while keeping driving range unchanged. As more automakers roll out EV models, investors are looking for evidence that Tesla and established battery suppliers like Panasonic can keep their lead in the industry. The battery system is the most expensive element of an EV and improved performance and lower costs are seen as key to sustaining gains in global sales. Panasonic Energy, a core Panasonic Holdings unit, plans to achieve those gains by using a new mix of additives to allow individual cells to run at a higher voltage without … [Read more...] about Exclusive: Tesla supplier Panasonic eyes 20% jump in battery density by 2030

U.S. Treasury Secretary Janet Yellen, left, speaks to President Yoon Suk-yeol at the presidential office in Yongsan, central Seoul, on Tuesday. [YONHAP] U.S. Treasury Secretary Janet Yellen met with the president, the finance minister and the governor of the central bank during her two-day visit to Korea. While the visit came at a time of economic turmoil, with financial markets volatile, inflation raging and economies sputtering, Yellen steered clear of mentioning specifics, and no major agreements seem to have been reached. She stuck to the script and maintained the broad-theme approach adopted by the U.S. to date. The elephant in the room — whether the United States and Korea would adopt a swaps agreement — was carefully avoided. On Tuesday, she reaffirmed the Korea-U.S. alliance with President Yoon Suk-yeol and stressed economic relationships with Bank of Korea Gov. Rhee Chang-yong and Finance Minister Choo Kyung-ho. It's "our honor and pleasure to discuss the … [Read more...] about Yellen and Korean leaders agree to stabilize currency market