Lithium price rebound sends lithium mining stocks surging; Yongshan Lithium hits daily limit up with over 330,000 lots locked

Empower has appointed former ExxonMobil veteran Andrew Sinclair as its chief public and government affairs officer, the Dallas-based lithium producer announced. Sinclair will be based at Empower's new Washington, D.C., office and will also lead a presence in Austin, overseeing government relations, media and communications as the company aligns with U.S. strategic interest in critical minerals. He brings more than two decades of public affairs experience, including nine years at ExxonMobil, where he oversaw state government relations in the Northeast and helped build the public and government affairs team in Guyana. Empower is scaling commercial production of American-made lithium carbonate and plans to launch its first commercial sales in 2027, with CEO Patrick Dowling calling Sinclair the cornerstone of a leadership team assembled to lead American lithium production. The company noted that the United States controls only 1% of global lithium processing capacity.

Galliford Try Holdings PLC has landed a spot on the latest £3 billion Constructing West Midlands Framework, selected for the major works lot covering projects over £10 million. Connecting Excellence Group Plc has completed its first acquisition, buying James Gray Recruitment, and has grown its Bitcoin holding to over 81 coins, worth around £5.25 million. Bradda Head Lithium Ltd has intersected visible spodumene mineralisation in all three of its first Whistlejacket holes in Arizona, with lab assays now the next key test. Tower Resources PLC has secured a one-year extension to its exploration licence at Thali in Cameroon and is now working towards a drilling campaign targeted for Q2 2027. Premier African Minerals Ltd has raised around £1.2 million to restart operations at its Zulu Lithium project in Zimbabwe, with the plan now focused on processing ore already sitting on the stockpile.

PMET Resources Inc. has signed a Letter of Intent with the City of Matagami for transshipment services supporting its Shaakichiuwaanaan Project in Quebec. Under the planned arrangement, spodumene concentrate would be trucked from Shaakichiuwaanaan to Matagami's existing transshipment yard, where it would be transferred to rail for onward transportation to port, advancing a key component of the project's planned concentrate logistics chain. The LOI establishes a framework for the infrastructure upgrades and long-term transshipment services required to support the planned route to market, though infrastructure contributions, service pricing, and detailed operating arrangements remain subject to further negotiation. PMET said it is targeting a definitive commercial agreement with Matagami prior to a Final Investment Decision for Shaakichiuwaanaan. Chief Operating Officer Frédéric Mercier-Langevin said transshipment at Matagami is expected to provide a key link in the planned logistics chain connecting concentrate trucked from the Project to onward rail transportation.

Surge Battery Metals Inc. announced a positive Pre-Feasibility Study for the Nevada North Lithium Project in Elko County, Nevada, reporting an after-tax net present value at an 8% discount rate of US$9.81 billion and an after-tax internal rate of return of 23.6%, with a 4.2-year after-tax payback over a 42-year mine life. The project, held by Nevada North Lithium LLC and owned 67.5% by Surge and 32.5% by Evolution Mining Limited, is planned as a two-phase open-pit mine and on-site processing facility producing battery-grade lithium carbonate, with Phase 1 designed for approximately 55,900 tonnes per year and Phase 2 doubling capacity to a peak of approximately 111,400 tonnes per year, averaging approximately 92,250 tonnes per year over the life of mine. Phase 1 initial capital is estimated at US$2.77 billion, including US$442 million of contingency, while the Phase 2 expansion capital is estimated at US$2.35 billion, roughly 15% below Phase 1 for an expansion that doubles processing capacity. Life-of-mine average cash operating cost is US$4,719 per tonne of lithium carbonate, about 10% below the US$5,243 per tonne estimated in the 2025 Preliminary Economic Assessment, and overall lithium recovery improved to 84.9% from 82.8%. The PFS, prepared by Fluor Corporation as lead engineer, is based on a Proven and Probable Mineral Reserve of 218.3 million tonnes at 3,928 ppm Li containing 4.56 million tonnes of lithium carbonate equivalent, with no Inferred Mineral Resources in the mine plan, and the company said it intends to advance directly into FEL 3 engineering and a Feasibility Study, with first production targeted for the second half of 2031.