Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Global Lithium Resources Limited
  6. News
  7. Summary
    GL1   AU0000142929

GLOBAL LITHIUM RESOURCES LIMITED

(GL1)
  Report
Delayed Australian Stock Exchange  -  12:10 2022-12-09 am EST
2.130 AUD   -4.05%
11/29Global Lithium Resources Completes $7 Million Share Purchase Plan
MT
11/16Breaker completes Manna divestment.
AQ
11/16Global Lithium Resources Limited completed the acquisition of Manna Lithium Project from Breaker Resources NL.
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

SK On signs MOU with Global Lithium Resources to Bolster Key Battery Materials Supply Chain

09/30/2022 | 11:39am EST

SEOUL - SK On, a global leading electric vehicle battery manufacturer, announced today it signed a Memorandum of Understanding (MOU) with Australia's Global Lithium Resources to bolster its key battery materials supply chain.

The representatives from SK On and Global Lithium Resources signed the MOU in Perth, Australia on Sept. 28. The two sides agreed to explore future business opportunities together in regard to stable supply of lithium, a critical raw material for EV battery.

Through this MOU, SK On would have potential investment, funding and offtake opportunities in Global Lithium Resources' lithium assets.

SK On is one of the fastest-growing EV battery manufacturers in the industry. It ranked ninth in terms of global market share in 2019, but has shot up to fifth this year. The company currently operates seven factories in the United States, Hungary, China and South Korea and is currently in construction of seven more plants.

Incorporated in 2018, Global Lithium was listed on the Australian Stock Exchange last year. It is developing two flagship lithium assets, located in Western Australia, one of the world's most famous mining jurisdictions, to produce lithium from spodumene mineral.

Lithium is a critical raw material used in lithium-ion batteries that enables them to charge faster and have more energy density than traditional batteries.

Australia is the world's largest lithium producer and a major producer of other key battery minerals like nickel and cobalt.

SK On has been steadily reinforcing its supply chain on key battery materials to cope with geopolitical instability and expansion of its global production capacity. In addition to the partnership with Global Lithium Resources, the company is exploring various options to secure the supply of critical battery minerals in countries like Canada, Brazil and Argentina.

In June, SK On signed an MOU with South Korea's POSCO Holdings to strengthen collaboration across the entire battery value chain, ranging from secondary battery raw materials to recycling. In 2019, SK On signed a supply agreement with Switzerland-based Glencore, the world's largest supplier of cobalt, to secure cobalt for six years from 2020 to 2025.

Jinsuk Ryu, Vice President at SK On, said, 'This MOU with Global Lithium will strategically support SKO's global production and help explore potential business opportunities.' She added, 'I believe that both parties will support each other to help accelerate the growth of business and cooperate further to explore potential opportunities in the EV supply chain.'

Ron Mitchell, Managing Director at Global Lithium, said, 'I am extremely excited that Global Lithium has signed this MOU with Korea's SK On, a leading manufacturer of lithium-ion batteries for the automotive industry on a global scale. The scope of this partnership has the potential to strengthen and diversify the future of Global Lithium's projects in Western Australia both in the near term and in the years ahead.'

About SK On

SK On is a global leading electric vehicle (EV) battery developer, manufacturer, and solutions provider whose mission is to make our world a cleaner and more convenient place.

Established in October 2021 after splitting off a battery business from SK Innovation, South Korea's largest energy company, SK On aims to become a world leader in the clean energy industry by leveraging its global production base and R&D capabilities, as well as its production and quality management know-how.

Headquartered in Seoul, South Korea, SK On has a worldwide presence with battery plants currently operating or in construction across the United States, Europe, and Asia

Contact:

Kathleen Bentley Juviler

Tel: 408-455-6291

Email: kathleenbentley@sk.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
GLOBAL LITHIUM RESOURCES LIMITED -4.05% 2.13 Delayed Quote.124.21%
SK INNOVATION CO., LTD. 3.06% 168500 End-of-day quote.-29.35%
All news about GLOBAL LITHIUM RESOURCES LIMITED
11/29Global Lithium Resources Completes $7 Million Share Purchase Plan
MT
11/16Breaker completes Manna divestment.
AQ
11/16Global Lithium Resources Limited completed the acquisition of Manna Lithium Project fro..
CI
11/15Breaker Resources Concludes Divestment of Remaining Stake in Manna Lithium JV
MT
11/14Global Lithium Resources Limited Announces Resource Expansion Drilling Program Is Progr..
CI
10/25Global Lithium Resources Acquiring Manna Lithium Project for $38 Million
MT
10/25Global Lithium Resources Limited entered into an agreement to acquire remaining 20% of ..
CI
10/24Global Lithium Resources Limited Agrees to Acquire 100% Interest in Manna Lithium Proje..
CI
09/30SK On signs MOU with Global Lithium Resources to Bolster Key Battery Materials Supply C..
AQ
09/30Alchemy Resources Wins Ballot for Lithium Prospective Tenement in Western Australia
MT
More news
Financials
Sales 2023 - - -
Net income 2023 -15,4 M -10,5 M -10,5 M
Net cash 2023 41,2 M 28,1 M 28,1 M
P/E ratio 2023 -31,8x
Yield 2023 -
Capitalization 543 M 370 M 370 M
EV / Sales 2023 -
EV / Sales 2024 -
Nbr of Employees -
Free-Float 42,6%
Chart GLOBAL LITHIUM RESOURCES LIMITED
Duration : Period :
Global Lithium Resources Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GLOBAL LITHIUM RESOURCES LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 2,13 AUD
Average target price 3,50 AUD
Spread / Average Target 64,3%
EPS Revisions
Managers and Directors
Ronald Mitchell Managing Director & Executive Director
Kevin Ronald Hart Chief Financial Officer & Secretary
Warrick Hazeldine Non-Executive Chairman
Joanne Day Manager-Administration
Dianmin Chen Independent Non-Executive Director