NEW YORK, May 10, 2017 /PRNewswire/ --
A research by Markets and Markets, indicates that the lithium ion battery market is expected to be valued at USD 68.97 Billion by 2022, growing at a CAGR of 16.6% between 2016 and 2022. This largely is attributed to the increasing popularity of electric and plug-in hybrid vehicles, in which lithium ion batteries are used as a power source. The increasing demand for smart devices and other consumer electronics also helps propel the lithium markets, such as smartphones and tablets. SourcingLink.net, Inc. (OTC: SNET), Leading Edge Materials Corp. (OTC: LEMIF), Galaxy Resources Limited (OTC: GALXF), Pure Energy Minerals Limited (OTC: PEMIF), Lithium Americas Corp. (OTC: LACDF)
The report also specifies the growing importance Cobalt plays in the advancing battery market. The lithium ion battery market for lithium nickel manganese cobalt battery types is expected to grow at the highest rate between 2016 and 2022. Lithium nickel manganese cobalt (Li-NMC) type batteries are used in application areas like e-bikes, power tools, medical equipment, and other electric powertrains. Usage of cobalt in a 1:1:1 ratio combined of nickel and manganese, supplies an optimum result while keeping the cost low, as cobalt is expensive. The energy density of Li-NMC batteries is its primary strength.
SourcingLink.net, Inc. (OTC: SNET) on April 26th announced its intention to pursue additional claims and expand into the Cobalt market. The Company is in final negotiations for its first Cobalt property. It is expecting to purchase an option to acquire a Cobalt claim in the same vicinity of SNET's existing Lac Fire Lithium claims in James Bay, Quebec, Canada.
Cobalt is complimentary to Lithium in terms of its uses for batteries that power electric cars, laptops, cell phones and cameras. The market for both minerals have been showing increasing strength.
"I believe this is a natural progression for SNET to include cobalt in our portfolio. It makes sense with the link between lithium and cobalt. Recent history regularly shows the demand for both is ever increasing," said Anne Carioti, CEO.
On February 2017, Leading Edge Materials Corp. (OTCQB: LEMIF) announces the staking of the Company's second cobalt ("Co") - copper ("Cu") project, Kontio, located in north eastern Finland approximately 50 km northwest of the town of Kuusamo. The project is secured by Leading Edge Material's 30,800 hectare Kontio-Sarvivaara reservation which is valid until September 2018. The Kontio project lies within the Kuusamo Schist Belt, host to numerous significant deposits in Eastern Finland. The Kuusamo Schist Belt is comprised of various meta-sedimentary sequences with regular mafic and felsic intrusive and regional scale albite alteration.
Galaxy Resources Limited (OTC: GALXF) is a lithium-focused resources company, with assets spanning Australia, Canada and Argentina. Galaxy is currently advancing plans to develop the Sal de Vida Lithium and Potash Brine Project ("Sal de Vida") in Argentina, which is situated in the Lithium Triangle, a region where Chile, Argentina and Bolivia meet, and presently accounts for 60% of global lithium production. On April 10, 2017, the company provided an update on the development work at the Sal de Vida (SDV) Project. The SDV Project Team has been re-established on the ground at the development site location and has recommenced development work in line with the recently established development budget and schedule.
Pure Energy Minerals Limited (OTCQB: PEMIF) is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. The Company's current focus is on the development of the CVS Lithium Brine Project and the adjoining Glory Lithium Clay Project in Clayton Valley, Nevada. The company recently announced results from depth-specific brine samples from exploratory wells CV-7 and CV-8 in the Clayton Valley South Project (the "CVS Project"). Positive indications of lithium mineralization occurred throughout the screened intervals of the wells, with increased concentrations in deeper samples. The average lithium concentration over the screened interval in CV-7 was 70 milligrams per liter (mg/L) lithium, ranging between 56 and 109 mg/L lithium. The CV-8 samples averaged 134 mg/L, including a range of lithium values from 58 to 229 mg/L.
Lithium Americas Corp. (OTCQX: LACDF) through a joint venture with Sociedad Química y Minera de Chile (SQM), is developing the Cauchari-Olaroz brine deposit in Jujuy, Argentina. On March 29, 2017, the company provided results of a Definitive Feasibility Study ("Stage 1 DFS") on the Cauchari-Olaroz lithium project ("Cauchari-Olaroz" or the "Project"). Cauchari-Olaroz is 100% owned by Minera Exar S.A. ("Minera Exar"), an Argentine company owned 50/50 by Lithium Americas and SQM. Minera Exar is pursuing a development plan at Cauchari-Olaroz for production capacity of 50,000 tonnes per annum ("tpa") of battery-grade lithium carbonate ("Li2CO3") in two stages, with each stage consisting of 25,000 tpa of Li2CO3.
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