Palm Beach, FL – November 2, 2022 – FinancialNewsMedia.com News Commentary – One thing all experts agree upon is that the demand for lithium will continue to rise at an ever increasing rate in the next several years. A recent report by Fairfield Market Research predicts how the rising use of lithium in batteries, steel, lubricants, and aluminum products will create lucrative opportunities for the global lithium mining market during the forecast period. The global lithium mining market stood at US$ 829.73 Mn in 2019 and is expected to reach US$ 1,630.30 Mn by 2025, registering a CAGR of 26.3% from 2020 to 2025. Another research firm, Emergen Research added that the increased utilization of lithium-ion batteries in grid storage is a key factor driving lithium mining market revenue growth. They added: “The batteries segment accounted for a largest revenue share in 2021. Lithium-ion batteries’ rising popularity is expected to drive revenue growth of this segment. In comparison to lead-acid and other lithium batteries, lithium iron phosphate batteries provide a variety of advantages, such as improved discharge and charge efficiency, longer lifespan, and ability to deep cycle while maintaining power. These batteries often cost more up front; however, their lifetime expenses are significantly lower. They have a very long lifespan and do not need any maintenance, making them a good long-term decision. When compared to lead-acid batteries, lithium batteries can live up to ten times longer and even after 2,000 cycles, but they still retain 80% of their initial capacity. Furthermore, lifespan of majority of lithium-ion batteries is at least five years, while usually, lead-acid batteries only survive for two years.” Active companies in the mining industry this week include Scotch Creek Ventures Inc. (OTCPK: SCVFF) (CSE: SCV), Albemarle Corporation (NYSE: ALB), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), Surge Battery Metals Inc. (OTCPK: NILIF) (TSX-V: NILI), American Lithium Corp. (OTCQB: LIACF) (TSX-V: LI).
The Fairfield report also said: “The demand for lithium is attributable to thermal resistance, high standard performance, and unique lightweight properties it delivers. Its properties make it ideal for air regeneration applications such as safety devices, submarines & miners, and space vehicles to remove carbon dioxide. Lithium is used in air regeneration, dehumidification, and cooling applications. Hospitals, shopping malls, and other institutional facilities often set up absorption chillers as air conditioners, which is expected to fuel demand for lithium. Lithium chloride is also used as a dehumidifier for absorbing moisture. Thus, the upsurge in automotive demand for lithium-ion batteries coupled with other end-user industries demand for lithium is expected to boost the global lithium mining market in the next few years. Higher affordability of EVs, which will drive consumers to opt for these vehicles for improving commute by assuming a personal responsibility towards climate change. By 2030, EV sales are expected to double. By 2025, these vehicles will displace conventional passenger vehicles by 10%, creating a monumental chance for lithium mining activities to prove their mettle.”
Scotch Creek Ventures Inc. (OTCPK: SCVFF) (CSE: SCV) BREAKING NEWS: Scotch Creek Begins Phase 1 Drilling at Highlands West Lithium Project, Bordering North Americas Only Lithium Producing Mine – Scotch Creek Ventures Inc. (FSE: 7S2) (www.scotch-creek.com (the “Company”) (“Scotch Creek” or the “Company”), is pleased to announce the commencement of the Phase I drill program on the 100% owned Highlands West Lithium Project (“Highlands”).
The Highlands project is directly adjacent to Albemarle’s Silver Peak lithium mine, North Americas only producing lithium operation. Recent positive geophysics results from the detailed gravity, seismic, and Hybrid-Source Audio-Magnetotellurics (HSAMT) surveys identified key subsurface features within the central area of the Highlands property, subsequently triggering the company’s decision to expand the Highlands claims by an additional 400 acres and design the phase one drill program.
The combined results of the comprehensive geophysical survey carried out at Highlands show a subsurface dominated by strongly layered basin-fill units. These highly prospective sedimentary rocks are interpreted to be claystones, mudstones and volcanic beds which have accumulated in a series of fault-bounded basins underlying the property.
“We are extremely pleased to have commenced the very first drill program on our highly promising Highlands lithium project,” said Mr. David Ryan, Scotch Creek’s CEO. “This is the first detailed exploration program within the Western portion of the Clayton Valley. The exploration goals are to drill a large diameter core, through well-layered sequences of basin fill stratigraphy, as seen in our previously collected seismic data. The collected core and groundwater samples will then be logged and assayed with the prospect of discovering a significant lithium deposit.” CONTINUED… Read this and more news for Scotch Creek Ventures at: https://www.financialnewsmedia.com/scv-news
In other developments in the mining markets:
Albemarle Corporation (NYSE: ALB) recently announced that its subsidiary, Albemarle Lithium UK Limited, has completed the acquisition of Guangxi Tianyuan New Energy Materials Co., Ltd. (“Tianyuan”) for approximately $200 million. A definitive agreement to acquire all outstanding equity from Tianyuan’s shareholders was announced in September 2021.
Located near the Port of Qinzhou in Guangxi, Tianyuan’s operations include a lithium conversion plant with a designed annual conversion capacity of up to 25,000 metric tons LCE and can produce battery-grade lithium carbonate and lithium hydroxide.
Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) recently announced it has entered a Strategic Collaboration Agreement (“Collaboration Agreement”) with Green Technology Metals Ltd. (ASX:GT1) (“GT1”) to advance a common goal of developing an integrated lithium chemical supply chain in North America.
HIGHLIGHTS WERE: Collaboration Agreement executed with GT1, a North American focused lithium exploration and development company with hard rock spodumene assets in north-west Ontario, Canada; Builds upon Lithium Americas’ previous strategic equity investment in GT1 of US$10 million and established collaboration framework; Provides non-exclusive rights to undertake collaborative activities between the two parties; and Establishes a Strategic Management Committee for further joint exploration and development opportunities with focus on Canada and the U.S.
“As we prepare to commence construction at Thacker Pass, we see an opportunity to further strengthen our role in developing a North American lithium supply chain,” said Jonathan Evans, Lithium Americas’ President & CEO. “On the back of the passing of the Inflation Reduction Act (“IRA”) by U.S. Congress, we are having increased engagement with potential partners and customers focused on North America.”
Jonathan Evans, further commented, “Working with GT1 allows us to leverage our chemicals focused team based in the U.S. and GT1’s extensive experience in hard rock exploration and development.”
Surge Battery Metals Inc. (OTCPK: NILIF) (TSXV: NILI) recently announced expansion of its claim holdings as well as an update on this summer’s exploration progress on the 100% owned Nevada North Lithium Project (NNLP), Elko County, Nevada.
Prior to commencement of a maiden eight-hole reverse circulation drill program (see News Release dated 19th October 2022), work this summer included expansion of the soil grid with the collection of another 472 sites in addition to the previously reported 1,026 sample program (see News Release 14th September 2022). The new grid was designed to test extensions to anomalous lithium in soil anomalies to the south, southeast, and north of the previous grid. Samples were collected on 100m spacing along lines spaced at either 100m or 200m intervals. Samples were delivered to the ALS Global sample preparation laboratory in Elko, Nevada and a compilation of these results will be announced in an upcoming news release.
American Lithium Corp. (OTCQB: LIACF) (TSX-V: LI) recently announced that it has commenced an Environmental Impact Assessment (“EIA”) hydrology drilling program (designed by SRK Peru and EDASI SAC) at its wholly owned Falchani lithium project in Southern Peru.
The Company also announces it has engaged DRA Global and Stantec Inc. to jointly produce an updated Preliminary Economic Assessment (“PEA”) for Falchani. The updated PEA will focus on incorporating Sulphate of Potash (“SOP”) and Cesium (“Cs”) by-products, the material increase in lithium carbonate (“LCE”) pricing and the results of the current drilling.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty six hundred dollars for news coverage of the press release issued by Scotch Creek Ventures Inc. by the Company.
FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: firstname.lastname@example.org – +1(561)325-8757
The post Lithium Mining Companies Bullish on Lithium as Demand For Lithium-Ion Batteries For EVs Continues To Rise appeared first on Financial News Media.