NEW YORK, January 25, 2017 /PRNewswire/ --
http://www.Financialbuzz.com - Analysts are projecting the lithium-ion battery market to expand due the increasing demand from the consumer electronics and the automotive sector. In addition, a recent trend of using lithium-ion batteries for energy storage systems, for example solar grids, both in a household and industrial setting, has also been on the rise. A recent research report by Transparency Market Research projects the global lithium-ion battery market will to reach US$77.42 billion by 2024, expanding at a CAGR of 11.6% during the forecasted period. Millennial Lithium Corp. (OTC: MLNLF) (TSX-V: ML.V), FMC Technologies Inc. (NYSE: FTI), Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM), Albemarle Corporation (NYSE: ALB), Tesla Motors (NASDAQ: TSLA)
A major obstacle for the lithium-ion market is lack of knowledge regarding the benefits of such batteries. Besides being environmentally friendly, lithium-ion batteries highly effective, and technology behind the innovative product is continuously improving. The research also indicates that, "Consumer electronics is projected to be the leading segment of the global lithium-ion battery market during the forecast period. This segment is anticipated to account for nearly half the market by 2024, driven mainly by the rising demand for low power capacity lithium-ion batteries to be used in smartphones."
Millennial Lithium Corp. (OTCQB: MLNLF) (TSX-V: ML.V) is an exploration and development company with a focus on quality lithium assets located in Argentina. Proyecto Pastos Grandes S.A. is the Company's key project and is 100% owned and strategically located within the Argentine portion of the "Lithium Triangle", home of some of the world's largest lithium resources. The property is approximately 5500 hectares in size and located 154 kilometers west of Salta, Argentina.
Earlier today, Millennial Lithium Corp. announced that the company, "reports positive analytical results from its first two complete exploration wells at the Pastos Grandes Project in Salta, Argentina. Exploration holes PGMW1601 and PGMW1602, drilled vertically to depths of 355 and 400 metres, respectively, in the Northern portion of the salar, ended in brine bearing formations and confirm that the salar's brine carrying capacity extends to much greater depths than encountered in previous exploration. As previously reported, exploration holes PGMW1601 and PGMW1602 were collared over 1.5 kilometres (km) apart and both encountered thick sequences of loose, brine-bearing sediments. Both holes were terminated in brine bearing formations at depths greater than anticipated.
Depth specific brine samples were collected at various intervals from both holes using drive-point and packer systems designed to isolate sample intervals. Nine brine samples collected from exploration hole PGMW1601, from surface to 355 metres, contain an average lithium grade of 395 milligrams per litre (mg/L) and an average magnesium/lithium ratio of 6.2. Individual lithium grades from the hole range from a low of 297 mg/L to a high of 471 mg/L. Ten brine samples collected from exploration hole PGMW1602, from 71 to 400 metres, contain an average lithium grade of 389 mg/L and an average magnesium/lithium ratio of 6.1. Individual samples from this hole range from 339 mg/L to 399 mg/L lithium. Average grades of these first two holes in the Northern section, are significantly higher than the results reported in historical drilling. Eramine SA, reported results from historical drilling which averaged a lithium grade of 331 mg/L to a depth of 125 metres (see Technical Report on the Pastos Grandes Project, Salta Province, Argentina, Rojas y Associados, September 14, 2016).
Results indicate that brine impurities improve with depth as confirmed by a decreasing magnesium to lithium ratio. Near surface chemistry in the 6 to 8:1 range (Mg:Li) decreases to below 6:1 at depth (Mg:Li). Observations and preliminary analysis from Millennial's technical advisory board indicates that the sulphate content is well matched to counter calcium and magnesium in the brine and that a majority of these impurities can be reduced in an evaporation process. Conventional processing, as envisioned for Pastos Grandes, will also recover potash.
Iain Scarr, AIPG CPG., VP Development and Exploration, comments, "We are very pleased that our work has improved on historical results and has significantly increased the potential we see at Pastos Grandes. I would personally like to thank and congratulate our expert team, and look forward to advancing this project in 2017."
Global provider of technology solutions for the energy industry, FMC Technologies Inc. (NYSE: FTI) and Technip had finally completed their multi-billion dollar merger, and now known as TechnipFMC. The combined company will focus on subsea, onshore, offshore and surface projects. "With our merger complete, TechnipFMC is uniquely positioned to unlock possibilities for our clients to transform their project economics," TechnipFMC CEO Doug Pferdehirt said. "We will do this by inspiring a culture of challenging conventions and finding new and better ways of doing things. I am honored to lead our combined team of talented employees and look forward to our future as TechnipFMC."
Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services. Specialty plant nutrients are fertilizers that enable farmers to improve yields and the quality of certain crops. Industrial chemicals have a range of applications in chemical processes, such as the manufacturing of glass and industrial nitrates. Iodine and its derivatives are used in the X-ray contrast media and biocides industries, among others. Lithium and its derivatives are used in batteries, greases and frits for production of ceramics. Potassium chloride is a commodity fertilizer that is produced and sold by the Company across the world.
Albemarle Corporation (NYSE: ALB) is one of the global market leaders for lithium compounds and one of the largest lithium raw material producers. The company is also an international leading provider of special metal compounds based on cesium, barium, or zirconium. Due to the rapidly growing markets for lithium-ion batteries, and metal organic chemicals and, in particular owing to the potential for growth in lithium batteries for electric vehicles, Albemarle will be a strong brand in these markets. The Company operates through the segments, including Performance Chemicals and Refining Solutions.
Tesla Motors (NASDAQ: TSLA) gigafactory will begin mass production of lithium-ion batteries for the use of its Model 3 electric vehicle and energy storage systems. Tesla and Panasonic will employ 4,000 workers to begin manufacturing at the factory in 2017. Tesla predicts that it will be rolling out 35 gigawatts of lithium-ion batteries per year, which is equivalent to the amount produced globally by next year. This factory will be doubling of the global battery production.
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