Electric Vehicle Market Witnessing Exponential Growth is Proving to Beneficial for Lithium Mining

PALM BEACH, Fla., June 9, 2021 /PRNewswire/ -- The electric vehicles (EVs) market has grown rapidly in the past few years and shows signs of continuing expansion for several years to come which is proving to be a huge windfall for Lithium production. Today, with the increasing concerns raised over the environmental impact of conventional vehicles, governments around the world are encouraging the adoption of vehicles using alternative sources of fuel. EVs are zero-emission vehicles and are gaining preference for clean public transport across countries. Several national governments offer financial incentives, such as tax exemptions and rebates, subsidies, reduced parking/toll fees for EVs, and free charging, to encourage the adoption of EVs. Thus, globally the requirement of EV battery is gaining fast pace. The electric vehicle market is witnessing exponential growth across geographies. Thus, major automobile manufacturers are entering the EV market due to the growing demand for EVs. Several major automakers such as Toyota, Tata Motors, Mercedes-Benz, and Hyundai are working on EV models to expand their position in the automotive industry. With major automakers taking an interest in the EV space, developments in electric vehicles are expected to increase in the near future. A report from MarketsAndMarkets said that the global EV battery market is projected to grow at a CAGR of 25.3% from USD 27.3 billion in 2021 to USD 67.2 billion by 2025. Increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and launch of new plug-in EV models are factors responsible to drive the EV battery market. Active stocks in the markets this week include Spey Resources Corp. (CSE: SPEY) (OTCPK: SPEYF), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), Piedmont Lithium Limited (NASDAQ: PLL), Albemarle Corporation (NYSE: ALB), Sociedad Química y Minera de Chile S.A. (NYSE: SQM).

The MarketsAndMarkets report continued: "Lithium-ion batteries are the most common battery type used in modern electric vehicles. These batteries have higher energy density compared to lead-acid or nickel-metal hydride batteries. Their compact size makes them preferable in the automotive industry... Alternatives such as advanced batteries and supercapacitors cannot easily replace lithium-ion batteries due to their performance, cost, weight, and size. Europe is estimated to account for a share of 31.0% of the global EV battery market, by volume, in 2021 and is projected to grow at a CAGR of 35.3% during the forecast period. Major automakers/OEMs entering the EV market are partnering with major EV battery companies to take advantage of the rapidly growing market."

Spey Resources Corp. (CSE: SPEY) (OTCPK: SPEYF) BREAKING NEWS: SPEY INCAHUASI SALAR TEM GEOPHYSICS UPDATE - Spey Resources Corp. (CSE: SPEY) (OTCPK: SPEYF) ("Spey" or the "Company") is pleased to announce that it has completed the surface exploration and TEM geophysics at Salar de Incahuasi (the "Incahuasi Project" or "Incahuasi") in the Province of Salta, located approximately 45 kilometers from the township of Tolar Grande, Argentina.

A Transient Electro Magnetic ("TEM") geophysics study was conducted over 9 kilometres with three lines done at 200m spacing. The results are being processed in Salta Argentina and also Vancouver Canada. Three days of heavy snow slowed work down but this cleared enabling the crew to complete their work.

Quantec utilized a center loop sounding method. Loop size was 200m x 200m. Depth of analysis went down to 200-250m below surface. The total number of TEM sites with 200m station intervals was 50 sites. All sites were read using transmitter frequencies of 25 Hz.

The geology team pegged the lines for the geophysics and were able to take ten 20 litre samples using a motorized augur from 6 locations on the surface of the salar. Given the rain and snow conditions, it was clear that rainwater had soaked into the surface brines. However, they were able to collect 25 surface samples and ten 20 litre samples for processing in Melbourne Australia.

The results of two 20l samples processed so far are very pleasing with one showing a lithium concentration at 143ppm, however it appears that the aquifers are stratified. It is expected that the lithium at depth will be more concentrated. The other chemical elements were exceptional for the Ekosolve™ Direct Processing system.

Spey Resources chief executive officer and director Nader Vatanchi states, "the initial results are very promising and exciting. We patiently await more data as more detailed information will help the company plan and strategize around its flagship project." Once the surface samples assays have been processed a further announcement will be made. CONTINUED….  Read this release for the Spey Resources Corp. news at:  https://www.financialnewsmedia.com/news-spey/   

Other recent developments in the markets include:

Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, recently announced that it has completed the sale of its Fine Chemistry Services business to W. R. Grace & Co. for approximately $570 million, consisting of $300 million in cash, and the issuance to Albemarle of preferred equity of a W. R. Grace & Co. subsidiary having an aggregate stated value of $270 million. The sale includes Albemarle's operations in Tyrone, Pennsylvania and South Haven, Michigan.

"The sale of our Fine Chemistry Services business has enabled us to unlock substantial value from our portfolio of quality assets," said Albemarle's CEO Kent Masters. "With the proceeds from this transaction, we have enhanced our available resources to execute our long-term growth strategy."

Sociedad Química y Minera de Chile S.A.  (NYSE: SQM) recently announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission (the "SEC").

SQM is a global company that is listed on the New York Stock Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A). SQM develops and produces diverse products for several industries essential for human progress, such as health, nutrition, renewable energy and technology through innovation and technological development. We aim to maintain our leading world position in the lithium, potassium nitrate, iodine and thermo-solar salts markets by: Ensuring access to the best assets related to our current business lines by expanding our global presence; Actively searching for attractive minerals allowing us diversification opportunities to replicate and expand our existing mining capacities; Strengthening our operational, logistical and commercial excellence process from beginning to end, while looking to be a cost leader; and Maintaining a conservative financial policy which allows us to successfully endure economic cycles that could impact the markets in which we sell.

Piedmont Lithium Limited (NASDAQ: PLL) recently announced an updated Mineral Resource estimate for industrial mineral products quartz, feldspar, and mica. The estimate is based on the lithium Mineral Resource previously reported on April 8, 2021 (39.2Mt @ 1.09 Li2O%) for spodumene bearing pegmatites at the Company's flagship Piedmont Carolina Lithium Project ("Project") in North Carolina, USA.

To help advance the marketing of these mineral products, John Walker joined the Piedmont team last fall as a Strategic Consultant. John has extensive experience in the quartz and feldspar markets having worked with Imerys for more than twenty years and spending another eight years with The Quartz Corp as CEO. John has provided invaluable input on market dynamics, desired product quality and other customer criteria, allowing Piedmont to develop a robust business model for marketing these materials.

Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) recently provided an update on the Caucharí-Olaroz lithium project ("Caucharí-Olaroz") in partnership with Ganfeng Lithium Co., Ltd ("Ganfeng Lithium") (together, the "Caucharí-Olaroz Partners") in Jujuy province, Argentina.

The Caucharí-Olaroz Partners have approved the commencement of development planning for a second stage ("Stage 2") expansion of at least an additional 20,000 tonnes per annum ("tpa") of lithium carbonate equivalent ("LCE") production capacity from Caucharí-Olaroz. "Caucharí-Olaroz is on track to become the largest new lithium brine operation in over 20 years," commented George Ireland, Chairman of Lithium Americas, "With construction for Stage 1 expected to be complete within the next year, together with Ganfeng Lithium, we are beginning to plan our next phase of growth in Argentina."

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 five hundred dollars for news coverage of the current press releases issued by Spey Resources Corp. by a non-affiliated third party.  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.

Contact Information:

Media Contact email: [email protected]
 - +1(561)325-8757

SOURCE FinancialNewsMedia.com