Fintech PR
Western Leaders Seeking Diverse Lithium Supplies to Reduce Worrisome Dependence on China
FN Media Group Presents USA News Group News Commentary
VANCOUVER, BC, Nov. 30, 2023 /PRNewswire/ — USA News Group: US President Joe Biden recently met with Latin American leaders, as part of a broader effort to reduce American dependence on China. The move isn’t isolated, after a worrisome research paper was presented to EU leaders urging a dire need to diversify away from China towards Africa and Latin America as demand for lithium-ion batteries and fuel cells balloons by 2030. Industry leaders are taking the need to decouple seriously, with Tesla Inc. (NASDAQ:TSLA) moving ahead on putting its new lithium refinery in Texas online sooner than anticipated, while lithium miners continue development of their new projects, such as those from Lithium South Development Corporation (TSXV:LIS) (OTCQB:LISMF), Alpha Lithium Corporation (NEO:ALLI) (OTCPK:APHLF), Sigma Lithium Corporation (NASDAQ:SGML) (TSXV:SGML), and Piedmont Lithium Inc. (NASDAQ:PLL).
With its flagship asset located in Salta Province, Argentina, Lithium South Development Corporation (TSXV:LIS) (OTCQB:LISMF ) is strategically positioned within the world famous Lithium Triangle. With recent developments at the project, LIS appears to be on the cusp of a breakthrough. Located directly next door to Korean giant Posco’s $4-billion lithium project, Lithium South is reporting the installation of the first production well at its HMN Li Project, with a pump test to follow immediately after the hole is cased and screened.
The announcement came swiftly on the heels of a previous announcement from Lithium South, stating that the company is preparing an updated NI 43-101 Preliminary Economic Assessment (PEA), using a newly upgraded Measured resource of 1.58 million tonnes Lithium Carbonate Equivalent (LCE). Taking into consideration current market conditions and pricing for LCE, Lithium South projects that the new report will use an Initial Design Capacity (IDC) of 15,000 tonnes per year LCE production.
The now up-to-date calculation represented a 175% increase through a newly updated NI 43-101 Technical Report in the HMN Li’s total lithium brine resource from 571,000 tonnes to 1,583,100 tonnes LCE at an average grade of 736 mg/L, with a low average magnesium (a brine contaminant) to lithium ratio of just 3.27
“We are very pleased with our new updated lithium resource at the HMN Li Project,” said Fernando Villarroel, COO and Project Manager for Lithium South. “The quality of the brine has exceeded our expectations.”
In addition to the production well’s installation, Lithium South is in the process of permitting and conducting evaporation test work.
“We are very excited to be able to increase our total LCE resource by such a wide value,” said Adrian F. C. Hobkirk, President and CEO of Lithium South. “With the increase in overall resource, we look forward to developing a larger mining plan.”
Also within the Hombre Muertos Salar are properties of Alpha Lithium Corporation (NEO:ALLI) (OTC:APHLF), which recently saw its shareholders agree to sell 67.4% of the company’s issued and outstanding shares to Tecpetrol for roughly C$205 million. Prior to the completion of the deal, Alpha Lithium provided a drilling update on two wells on one of its existing properties in Hombre Muerto.
Included in their most recent drilling results, Alpha Lithium reported the first well’s average lithium concentration of 784 mg/L, with an average Mg:Li ratio of 2.42, and the second delivering an average lithium concentration of 836 mg/L, with an average Mg:Li ratio of 2.50.
“These results confirm what our world-class exploration team expected all along – that Hombre Muerto is one of the world’s finest salars,” said Brad Nichol, President and CEO of Alpha.
On the other side of South America, Sigma Lithium Corporation (NASDAQ:SGML) (TSXV:SGML) is another lithium player that has recently updated its lithium resource estimate with an approximately 25% potential increase. At its Grota do Cirilo Lithium Project, Sigma Lithium reported the company had increased the exploration potential of Phase 4 to approximately 26 to 30Mt, adding to the previously released June 2023 NI 43-10 Technical Report which cited a mineral resource estimate comprised of 77.0 Mt of measured and indicated mineral resource grading at 1.43% Li2O and 8.6 Mt of inferred mineral resources grading at 1.43% Li2O.
“Sigma is a current large-scale and low-cost producer but also has mineral resource estimates to potentially surpass 110 million tonnes of open pit deposits,” said Ana Cabral, CEO of Sigma Lithium. “This scale underscores our strategic relevance to become the foundation of global supply chains that will deliver the decarbonization of EV batteries.”
Beyond Latin America, there’s plenty of optimism surrounding potential lithium development in Africa. Despite moving forward on its operations in Canada, Piedmont Lithium Inc. (NASDAQ:PLL) embarked on forging the first link of a lithium supply chain in West Africa—at the Ewoyaa lithium project in Ghana, where the company is the second-largest shareholder of the operator, Atlantic Lithium. As per the current arrangement, Piedmont owns a 9% equity interest in Atlantic Lithium, and has also exercised its option to acquire an initial 22.5% interest in Ewoyaa, subject to government approvals.
“Our investment in Ewoyaa will help alleviate potential future US supply constraints and provide crucial resources to help reduce America’s dependence on foreign nations, like China,” said Keith Phillips, CEO of Piedmont in an email to Bloomberg.
Atlantic Lithium expects the Ewoyaa permitting process to be finalized in H2 2024, ahead of what’s being projected to produce feedstock material for another proposed 30,000 metric ton per year Tennessee-based lithium hydroxide conversion facility. Coupling the impact of work being done in Ghana with new drill results in Canada that could lead to mineral resource upgrade, Piedmont is positioning itself to contribute significantly to the global lithium supply.
Among Piedmont’s offtake buyers is Tesla Inc. (NASDAQ:TSLA), which is working to develop its own lithium refining facility on the Gulf Coast of Texas. According to the company’s updated timeline, construction is set to be finished next year, with expected production in 2025.
Previously, Tesla confirmed that it planned to invest $365 million in the lithium plant, which would employ about 165 people full-time plus another 250 construction jobs for about two years. The automaker and battery manufacturer announced ground breaking on the project in May, 2023.
“As we look ahead a few years, a fundamental choke point in the advancement of electric vehicles is the availability of battery grade lithium,” said Elon Musk, CEO of Tesla at the ground-breaking ceremony. “We intend to continue to use suppliers of lithium, so it’s not that Tesla will do all of it.”
Source: https://usanewsgroup.com/2023/10/18/the-lithium-race-to-power/
Article Source:
USA News Group
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Fintech PR
President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
Fintech PR
Stay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
Fintech PR
According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)
ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.
This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.
The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.
Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.
Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.
Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.
In response to these challenges, Britons are making significant adjustments:
- 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
- 52% have reduced household energy consumption;
- 48% have decreased their grocery spending;
- 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
- 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.
The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.
The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.
A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.
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