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Russian President Vladimir Putins special envoy Grigory Dmitriev: (Regarding the sanctions bill of the late Senator Graham) The bill hindered Russian-American investment cooperation, and more and more people in the United States are realizing that it was a mistake.Ukrainian President Volodymyr Zelenskyy on the 16th requested EU leaders to provide Ukraine with an additional 70 billion euros in funding next year to help the country continue its confrontation with Russia.On October 16th, Lianxun Instruments announced its plan to issue H shares and list on the Main Board of the Hong Kong Stock Exchange. The Board of Directors approved the relevant proposal on October 16th, 2026. The company is currently discussing the issuance with relevant intermediaries, and specific details have not yet been finalized. The issuance is subject to shareholder approval and relevant filing, approval, and/or authorization. The shareholder resolution will be valid for 24 months from the date of approval by the shareholder meeting, or for such extended period as agreed.California Governor Gavin Newsom: The Bryson fire is 17% contained.On October 16th, the Bank of Italy raised its economic growth forecast for the country, aligning it with the projections of Prime Minister Melonis government. In its latest economic bulletin, the Bank of Italy stated, "The upward revision of the 2026 economic growth forecast is mainly due to the weaker impact of the Middle East crisis in the first two quarters of this year compared to the June forecast, coupled with strong performance in investments related to digitalization and energy transition, and a positive trend in the summer tourism industry." The Bank of Italy expects the economy to grow by 0.9% this year, adjusted for working days, higher than the 0.5% forecast in June. Unadjusted growth is expected to reach as high as 1%, consistent with the governments forecast. The Bank of Italy stated that planned defense and energy spending will help drive economic growth. The economy is projected to grow by 0.7% and 0.8% in 2027 and 2028, respectively.

Tesla May Invest in Lithium Mining as Musk Discusses Battery Metal Costs

Haiden Holmes

Apr 11, 2022 09:37

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Lithium has joined the commodities market upheaval in the aftermath of Russia's conflict on Ukraine. Even prior to the conflict, raw material prices soared as demand increases and availability were constrained by pandemic-related supply chain problems. Benchmark Mineral Intelligence's gauge of worldwide lithium prices has increased about 490 percent in the last year. China is so concerned about lithium pricing that it has gathered a diverse group of market participants for two days of negotiations aimed at preventing a meteoric rise in prices.


Because lithium is a critical component of electric car batteries, manufacturers are scrambling to secure supply ahead of a worldwide push toward electrification of transportation. Tesla has secured supply agreements with battery metals makers in the last couple of years, including one with mining giant Vale SA (NYSE:VALE).


Following the lithium price surge, China has already communicated to its EV battery supply chain that it wants lithium prices to revert to reasonable levels, as rising costs have raised manufacturers' cost inflation and threatened to ultimately harm consumer demand.

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