Global Demand for Lithium Batteries are Expected to Grow

NEW YORK, March 29, 2018 /PRNewswire/ --

According to data compiled by Global Market Insights, the Global Lithium Ion Battery Market is predicted to grow at a CAGR of 12% from 2017 to 2024. The positive projections are due to strong demand for electronic devices and growing popularity of electric vehicles (EVs). Although electronic devices drive majority of the demand in the market, it is projected that EVs will overtake the rechargeable battery market in the near future. Lithium ion batteries are highly popular and in demand due to its high energy density and its recyclability, which makes them optimally and environmentally efficient. MGX Minerals Inc. (OTC: MGXMF), Sociedad Química y Minera de Chile S.A. (NYSE: SQM), Lithium Americas Corp. (NYSE: LAC), Ford Motor Company (NYSE: F), Honda Motor Co. Ltd. (NYSE: HMC)

In the past five years, China, U.S., U.K. and Germany have all witnessed a surge in EV demand due to emission levels and competition. China alone saw a 75% increase year over year in EVs sold and will continue to see more as the government tackles the country's environmental issues. By 2025, Bloomberg New Energy Finance (BNEF) forecasts that EVs demand and sales will quickly grow and be as inexpensive as certain diesel-powered vehicle models due to the falling prices of lithium ion cells, but demand will still remain high for the batteries. BNEF forecasts that EVs will account for more than one third of vehicles globally and replace nearly 8 million barrels of oil production daily.

MGX Minerals Inc. (OTC: MGXMF) also listed on the Canadian Securities Exchange under the Ticker (CSE: XMG). Just earlier this morning the company announced breaking news that, "additional assay results of Petroleum Coke ("Petcoke") samples collected from stockpiles produced from the Fort McMurray area mining and upgrading operation as well as the Edmonton refinery. Both samples originated from Delayed Coking operations. Samples were obtained and prepared by Highbury Energy Inc. ("Highbury") and analyzed by Acme Labs of Vancouver, British Columbia using standard ICP analyses.

Ash Content - Ash was determined by weighing residues after burning coke samples of about 200 g in air in a muffle oven over extended periods at 815°C. Table A indicates the average ash content of 6 to 7 samples of each coke. Upgrader Coke A had about nine times as much ash, as does Refinery Coke B.

Proximate Analyses - The cokes contain over 95 % organic (non-mineral) matter. Thermogravimetric analyses on 10 mg quantities…Residue refers to residual mineral matter left after the thermo-gravimetric test. Except for the % Residue, the two cokes have similar combustion properties.

Metals Analysis in the Coke Samples - Lithium borate fusion ICP-MS method measures 45 trace metal concentrations in the coke.  Results are expressed as (mg/kg) or ppmwt. This method has an upper limit of 10,000 mg/kg for Vanadium. Table C lists concentrations of selected metals.  Further details are in the Report.

Vanadium is the highest concentration of the 45 metals detected in the coke samples.

Ash Analyses - Ash analysis was completed by Bureau Veritas Commodities Canada Ltd. ("BV") of Vancouver, British Columbia using XRF method (XF701). Results are expressed as % wt. in the ash as oxide.  Sixteen elements as oxides, and LOI (loss on ignition) are determined. The ash samples were prepared in Highbury's laboratory and sent to BV for analysis. The maximum % the analysis method could accommodate was 10.0 % for V2O5; therefore ash samples were diluted by mixing with other solids. In the Highbury laboratory both Al2O3 and Fe2O3 were used.

For Upgrader Coke A, the sum of Al2O3 +SiO2 is about 70 %.  V2O5 is about 6.6%, according to the ash analyses. The above ash analyses agree only roughly with calculated ash breakdown expected from the metal analyses in the coke, shown in the square brackets of Table D. For Upgrader Coke A, the average % V2O5 in the ash is 6.1%. For Refinery Coke B, the average % V2O5 in the ash is 53 %. The discrepancies which are due to differences in analytical methods and to the dilution step are discussed further in the Report.

Background - Petcoke is a carbon material by-product of the oil and gas industry that forms during the oil refining process. As refineries have become more efficient at processing extra heavy crude oils (bitumen) over the last two decades, output of Petcoke globally has risen significantly. Because Petcoke originates from heavier petroleum fractions, its denser impurities such as metals and sulphur compounds are concentrate in it… While concentrations of individual metals are low in raw petcoke, Highbury is utilizing its advanced knowledge of the thermochemical gasification process and existing large-scale pilot plant experience to assist MGX in designing a process to generate hydrogen gas and concentrate metals in the form of ash byproduct. Highbury has completed a Phase I report on potential processes and markets for primary and secondary byproducts. A Phase II study has commenced including analyses of locations, laboratory bench top feedstock results, advanced process design and initial plant design parameters…"

Sociedad Química y Minera de Chile S.A. (NYSE: SQM) is an integrated producer and distributor of lithium, iodine, specialty plant nutrients, potassium-related fertilizers and industrial chemicals. As the world's largest lithium producer, SQM is committed to the development and sustainability of the lithium industry. In January 2018, the Company announced that it reached an agreement with CORFO to finish the arbitration processes that started in May 2014. The agreement included a one-time payment of approximately US$20 million that is reflected in the fourth quarter 2017 results. As part of the agreement, SQM is allowed to produce and sell up to 2.2 million MT of lithium carbonate equivalent (LCE) through 2030, albeit at higher lease payments to CORFO and other associated cost. The new payment structure will become effective, as of the moment the agreement is approved by regulatory authorities in Chile, which we expect to occur during March 2018.

Lithium Americas Corp. (NYSE: LAC) envisions a world evolving with advances in clean energy. Lithium-ion technology is at the forefront of an environmental shift and the company intends, through its Cauchari-Olaroz and Lithium Nevada projects, to supply the critical element for the energy revolution. Lithium Americas, through a Joint Venture with Sociedad Química y Minera de Chile (SQM), is developing the Cauchari-Olaroz brine deposit in Jujuy, Argentina. Through its wholly-owned subsidiary, Lithium Nevada Corp., the company is developing one of North Americas' largest lithium deposits in northern Nevada*. The company intends to become a major supplier of lithium products to the energy storage and electrified vehicle markets. Earlier this year, the company provided a development update on the Cauchari-Olaroz project in Jujuy, Argentina. Cauchari-Olaroz continues to progress detailed engineering which, excluding the plant design, is 50% complete and scheduled to be completed this quarter followed by final plant design to be completed in the second quarter of 2018. Construction activities associated with earthworks, roads and well platforms are well underway.

Ford Motor Company (NYSE: F) designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, autonomous vehicles and mobility solutions. Recently, the company announced that it and Mahindra Group will jointly develop new SUVs, and a small electric vehicle as part of several initiatives announced today between the two companies. Mahindra and Ford also agreed to evaluate co-development of a compact SUV and electric vehicle, along with sharing powertrain portfolios, including the supply of Mahindra powertrains to extend Ford's product range. Mahindra has been leading the utility vehicles segment in India for the past seven decades. The spirit of ingenuity has driven Mahindra to be among the few global companies pioneering the development of clean and affordable technology and is the only player with a portfolio of electric vehicles commercially available in India.

Honda Motor Co. Ltd. (NYSE: HMC) in March announced that Order books for a production version of Honda's Urban EV Concept to open from early 2019. The Urban EV Concept previews Honda's first mass-produced battery electric vehicle sold in Europe. The Concept features a simple and sophisticated design, slim A-pillars and wide windscreen that appears to sweep around the entire front of the passenger cabin. Inside, four occupants can be accommodated in comfort across the concept car's two bench seats, which are finished in different materials to create the ambience of a lounge.

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