In recent years, the lithium industry has been one of the most popular parts of the market in 2023.
And it isn't hard to see why. Thanks to the electric vehicle boom, lithium prices surged to record levels last year. This has led to many ASX lithium shares generating mouth-watering returns for investors.
And while there are fears that prices could be on the way back down now, producers of the battery making ingredient are still well-placed to benefit greatly this year.
Given the sheer number of ASX lithium shares on the local market, it can be hard to keep tabs on which companies are mining the white metal and which aren't.
Below is a summary of many of the companies already mining and some that are almost there.
Image source: Getty Images
Which lithium shares are already producing?
At present, there are only a small number of ASX lithium shares that are actually mining the metal.
During the first quarter, Allkem Ltd (ASX: AKE) produced 17,606 dmt of spodumene concentrate from Mt Cattlin and 3,289 tonnes of lithium carbonate from Olaroz. Management is now aiming to triple its annual production by 2026 and maintain at least a 10% market share.
IGO Ltd (ASX: IGO) recently reported quarterly spodumene production of 361,000 tonnes and lithium hydroxide production of 195,000 tonnes.
Mineral Resources Limited (ASX: MIN) produced 101,000 dry metric tonnes (dmt) of spodumene concentrate from the Mt Marion operation and 64,000 dmt from Wodgina during the first quarter.
Finally, Pilbara Minerals Ltd (ASX: PLS) produced 147,105 dmt of spodumene concentrate in the first quarter. It also recently approved the expansion of the Pilgan Plant to ultimately deliver 1Mtpa of spodumene concentrate from the combined Pilgangoora operations.
Not quite there
A special mention goes to Argosy Minerals Limited (ASX: AGY) and Core Lithium Ltd (ASX: CXO), which are on the cusp of being lithium miners.
Argosy Minerals has completed 98% of the total works required for the 2,000tpa Rincon Lithium Project, located in Salta Province, Argentina. It recently produced 1 tonne of battery quality lithium carbonate during the commissioning period.
Core Lithium's Finniss operation in the Northern Territory is expected to be up and running later this year. Though, that didn't stop the lithium developer from making its first shipment of 15,000 dmt of 1.4% Li2O spodumene direct shipping ore last week.
The company sold the lithium to a lithium-ion battery supply chain participant in Fangcheng, China, for a price of $US951/dmt. This valued the shipment at approximately US$14.25 million.
Coming soon
Finally, this is when some other popular ASX lithium shares are due to commence production:
Liontown Resources Limited (ASX: LTR) is targeting first lithium concentrate production in 2024 from its Western Australian operations.
US-based lithium developer Piedmont Lithium Inc (ASX: PLL) is aiming for the first half of 2023.
Sayona Mining Ltd (ASX: SYA) is targeting production during the first quarter of 2023 from its North American operations.
Germany-based Vulcan Energy Resources Ltd (ASX: VUL) is planning to construct its first commercial plant in 2024.
