How are these ASX-listed lithium shares performing today?

Highlights: 

• Lithium is a naturally occurring metal found combined within igneous rocks. 
• The metal finds use in a number of important technologies, such as rechargeable batteries. 
• Lithium is also in high demand these days as it is needed for manufacturing batteries for electric vehicles. 

Lithium is a naturally occurring metal. However, it does not exist independently in nature. Lithium is usually a part of igneous rocks and is extracted from them. 

Lithium is the most common metal used for manufacturing rechargeable batteries. Lithium batteries can be found in various electric gadgets such as mobile phones, cameras, and laptops. These days, lithium is in high demand because it is used to manufacture the batteries of electric vehicles.

The Australian lithium mining industry is a major contributor to the country’s economy. Western Australia is considered a ‘home’ for lithium miners as the land hosts rich deposits of lithium. 

This article features four ASX-listed lithium companies and discusses their performance on the ASX today: Core Lithium Ltd (ASX:CXO), Mineral Resources Limited (ASX:MIN), Sayona Mining Limited (ASX:SYA), and Pilbara Minerals Limited (ASX:PLS). 

Core Lithium Ltd (ASX:CXO) 

Shares of the lithium explorer Cole Lithium Ltd (ASX:CXO) were spotted trading marginally higher on the ASX on Monday afternoon. The company’s share price surged by 1.154% on the ASX to AU$1.395 per share at 1:48 PM AEDT today. 

In the last six months, Core Lithium’s share price has appreciated almost by 3%, and on a year-to-date (YTD) basis, the company’s share price has gained significantly, over 121%, on the ASX. Furthermore, in the last year, Core Lithium’s share price has gained over 145% on the ASX (as of 1:48 PM AEDT today). 

Founded in the year 2010, Core Lithium Ltd is an emerging player in the Australian lithium industry. The company is involved in the discovery and exploration of mineral deposits in the Northern Territory and South Australia.

As per Core Lithium’s website, its Finnis Lithium Project, in Darwin Port, Northern Territory,  could be one of the most cost-effective and low-cost spodumene lithium projects of Australia.

Mineral Resources Limited (ASX:MIN) 

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Shares of Australian mining giant Mineral Resources Limited (ASX:MIN) were buzzing in the green territory during today’s afternoon trading session on the ASX. Its share price was quoted at AU$76.840 per share after gaining by 3.697% on the ASX at 1:54 PM AEDT today. 

Mineral Resources’ share price has increased by 40.57% in the last six months and 30.96% on a YTD basis. Furthermore, the company’s share price has marked a gain of around 79% on the ASX in the last year (as of 1:54 PM AEDT today). 

Founded in 1993, Mineral Resources Limited is an Australian mining company with operations in several commodities, such as iron ore and lithium. 

The company was initially in the manufacturing and contracting business at the time of its inception. It was then known as PIHA Pty Ltd. PIHA was a specialised developer of pipelines and site infrastructure in the mining industry. Later, in 1995, PIHA merged with another company to form a part of Mineral Resources Limited. In late 1995 and 1996, two other companies merged together to form Mineral Resources Limited. At present, Mineral Resource holds a market capitalisation of AU$14.06 billion. 

Mineral Resource is also associated with various joint ventures in Australia, such as the Mt Marion Lithium Project in the Goldfields region, Marillana Iron Ore Project in Western Australia, and MARBL Lithium. 

Sayona Mining Limited (ASX:SYA) 

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Sayona Mining Limited (ASX:SYA) shares were spotted trading in the green territory on the ASX today afternoon. The company’s share price increased by 3.333% to AU$0.232 per share at 2:00 PM AEDT today. 

Over the last six months, Sayona’s share price has declined by almost 34% on the ASX. However, on a YTD basis, the company’s share price has gained by 65.71% on the ASX (as of 2:00 PM AEDT today). 

Sayona Mining Limited is an emerging ASX-listed lithium explorer and miner. Sayona’s operates through projects in different regions of the world, such as Quebec, Canada, and Western Australia. 

The company has successfully acquired North American Lithium along with its strategic partner Piedmont Lithium Inc. (ASX:PLL) in Quebec. North American Lithium is a well-established lithium mine and concentrator.

In addition, Sayona has also announced the acquisition of a 60% stake in the Northern Quebec-based Moblan Lithium Project. 

In Western Australia, too, Sayona owns a large tenement portfolio in the Pilbara region, Western Australia. 

Pilbara Minerals Limited (ASX:PLS)

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Pilbara Minerals Limited (ASX:PLS) shares were spotted trading 6.410% higher at AU$5.395 per share at 2:15 PM AEDT today. 

Pilbara Minerals’ share price has increased significantly, by 139%, on the ASX in the past year. Moreover, on a YTD basis, its share price has gained over 53% on the ASX (as of 2:15 PM AEDT today).  

Incorporated in the year 2005, Pilbara Minerals Limited is an ASX-listed mining company listed under the Materials sector. The company deals with the exploration, mining, and development of lithium and tantalum in Australia. One of the most significant projects owned by Pilbara is the Pilgangoora Lithium-Tantalite Project, situated in Western Australia. 

Pilbara Minerals holds a market capitalisation of AU$15.13 billion currently. Pilbara’s headquarters are in Perth, Australia. 

Meanwhile, the S&P/ASX 200 Materials sector (INDEXASX:XMJ) was quoted at 15704.9 points, up by 2.324%, at 3:09 PM AEDT today.