Lithium Market Affected by Demand From Rechargeable Batteries
NEW YORK, August 23, 2017 /PRNewswire/ --
According to a report by Allied Market Research, the global lithium-ion battery market is estimated to be valued at $46.21 billion by 2022. The market for these rechargeable batteries are expected to witness notable growth due to increasing application in the automotive sector. Other key factors that drive growth are the growing demand for smartphones, tablets, and other electronic devices. Also, stringent government regulations aimed at reducing the increasing pollution levels and enhanced efficiency of lithium-ion batteries are key factors as well. The automotive industry is changing fast, as manufacturers continue efforts to produce more vehicles with electric drivetrains and fully electric or plug-in hybrids. As a result, the number of vehicles using Li-ion batteries for energy storage are increasing. Southern Lithium Corp. (OTC: SLLTF), Lithium X Energy Corp. (OTC: LIXXF), Lithium Americas Corp. (OTC: LACDF), Liberty One Lithium Corp. (OTC: LRTTF), eCobalt Solutions Inc. (OTC: ECSIF).
The primary focus of automakers has been reducing costs while increasing energy density and vehicle range. "The push by automotive original equipment manufacturers (OEMs) and battery manufacturers to continually reduce battery pack costs continues," says William Tokash, Senior Research Analyst with Navigant Research. "This effort, led by improving battery manufacturing processes and maturing supply chains, is anticipated to yield a market driven by battery electric vehicles where both large and small capacity Li-ion battery-pack-equipped vehicles have markedly improved driving ranges."
Southern Lithium Corp. (OTC: SLLTF) is also listed on the TSX Venture Exchange under the ticker symbol 'SNL'. The company announced after the close yesterday, that it has received initial data detailing the Brine density from the first hole (CREX 1701) of the Phase One exploration at its Cruz Property in the Pocitos Salar Basin in Salta Province, Argentina.
The brine aquifers were sampled using a drive-point sampler at key formational changes. The double packer system is designed to collect depth-specific samples. The 11 brine samples were taken from various depths between 96 to 475 m, and their densities range from 1.222 g/cm3 to 1.225 g/cm3. Larry Segerstrom, President of Southern, states "The densities of the 11 samples indicate the presence of brine throughout the section. Density is only an indirect measure of brine lithium content, but based on past work in the area, we are very encouraged. We are looking forward to the lithium assay results and to report them as they are received."
Sampling is being conducted in accordance with CIM guidelines and an appropriate QA/QC program for ensuring accuracy and repeatability of the analytical results. Alex Stewart Laboratories of Mendoza, Argentina has been engaged as the primary analytical provider. The laboratory has extensive experience with lithium brine analyses and is certified under ISO 17025, and in Alex Stewart's case, specifically for determination of lithium and potassium in liquid brines by use of ICP-OES.
The program is being managed in Argentina through its joint venture partner Millennial Lithium Corp. Millennial has engaged HIDROTEC S.R.L., a Salta-based drilling company with extensive experience in drilling and testing salar-hosted lithium brines. Millennial has engaged Mike Rosko of Montgomery and Associates, Inc. a U.S.-based hydrogeological consultancy to provide program guidance and act as the Company's qualified person for reporting results.
Lithium X Energy Corp. (OTCQX: LIXXF) is a lithium exploration and development company with a goal of becoming a low-cost supplier for the burgeoning lithium battery industry. The Company holds two projects in in the prolific 'Lithium Triangle' in mining friendly Salta province, Argentina as well as participating in the Clayton Valley in Nevada through its ownership interest in Pure Energy Metals Limited. On July 11th, Lithium X Energy announced the close of the definitive agreement with Aberdeen International Inc. for the purchase of Aberdeen's remaining 50% interest in Potasio y Litio de Argentina S.A. which controls 100% of the Sal de los Angeles Project.
Lithium Americas Corp. (OTCQX: LACDF), together with SQM, is developing the Cauchari-Olaroz lithium project, located in Jujuy, Argentina, through its 50% internet in Minera Exar. Earlier in July, Lithium Americas provided an update on the Cauchari-Olaroz lithium project in the Province of Jujuy, Argentina. Cauchari-Olaroz is 100% owned by Minera Exar S.A., a 50/50 joint venture company between Lithium Americas and Sociedad Quimica y Minera de Chile S.A.
Liberty One Lithium Corp. (OTCQB: LRTTF) is an exploration company focused on the acquisition and development of high grade lithium brine deposits. On August 17th, the company announced tremendous results from its geophysical survey at its Pocitos West property in Argentina. Company CEO, Brad Nichol, states, "The entire team - in Argentina and in Canada - is thrilled with this result, which has exceeded everyone's expectations and is the first step in confirming the possibility of extensive, buried salar sediments through much of our property. We had hoped to find 'sweet spots' within our tenement, but were delighted to learn the entire length of our property may contain brine; and correspondingly, lithium."
eCobalt Solutions Inc. (OTCQB: ECSIF) is committed to providing ethically produced, environmentally sound, battery grade cobalt salts, essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. On August 9th, the company provided an update on its Feasibility Study and recently initiated pre-construction activities on its 100% owned Idaho Cobalt Project in anticipation of final FS receipt expected later in September. The ICP is the only near term, environmentally permitted and primary cobalt project located in the United States. In 2016 eCobalt commissioned the FS with Micon International Limited and SNC-Lavalin.
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