Increasing Popularity of Electric Vehicles Bodes Well for the Lithium Market

NEW YORK, July 10, 2017 /PRNewswire/ --

According to a report by Allied Market Research, the global lithium-ion battery market size is expected to reach $46.21 billion by 2022 or a CAGR of 10.8% during the forecast period (2016-2022). The market for these batteries is expected to witness a significant growth due to the increasing demand for use in smartphones, tablets/PCs, digital cameras, and power tools. Most importantly, the demand for Li-ion batteries will be highly affected by the automobile industry as the demand for electric vehicles accelerates. These rechargeable batteries have gained popularity in the automobile industry due to their small size and light weight. The research report also indicates that the lithium-ion battery industry is highly fragmented with many domestic players that occupy around 60% of the total market. Millennial Lithium Corp. (OTC: MLNLF), Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM), Ford Motor Company (NYSE: F), FMC Corporation (NYSE: FMC), General Motors Company (NYSE: GM)

Electric Vehicle Charging System Market is expected to garner $8.02 billion by 2022 and register a CAGR of 30.7% during the forecast period 2016-2022. According to a different research by Allied Market Research, the global markets for electric vehicle charging systems are exhibiting a positive worldwide growth. There has been a significant rise in the adoption of electric vehicles in the past few years. The penetrations of electric vehicles are high in developed countries such as North America and Europe. Allied Market Research also reported that the Asia-Pacific region is a lucrative market as well or with a high growth potential and the rapidly increasing numbers of electric vehicles in countries such as China and Japan.

Millennial Lithium Corp. (OTCQB: MLNLF) is also listed on the TSX Venture Exchange under the ticker symbol ML. Earlier today the company announced, "Encouraging results from an extended pumping test of the first production scale well at its Pastos Grandes Project in Salta, Argentina. Pumping well PGPW16-01 was installed in late 2016 to complete extended pumping of the lithium brine to determine the robustness and chemical variation of the aquifer over an extended period. At a pumping rate of 27.7 litres/second (l/s), the lithium content remained very consistent over the 60 hour period. The drawdown over 24 hours was approximately 9 metres (m) with very rapid recovery."

Millennial CEO, Farhad Abasov, commented: "Millennial is very pleased with the results of this first pumping test. The test indicates strong brine flow rates of 27.7 l/s at the maximum capacity of the pumping equipment with only minor drawdown, and consistent lithium concentrations suggest a robust aquifer. Strong lithium values remained relatively consistent throughout the duration of the pumping test suggesting lithium distribution is widespread. Brine from well PGPW16-01 is now being used to feed a series of trial evaporation ponds as part of Millennial's ongoing development of the Pastos Grandes project."

Measurements of brine levels during the pumping test indicate a drawdown of approximately 9m over a 24 hour period. In addition, continued measurements after termination of the pumping test showed a recovery of the brine level to within 0.5m of its original position after the 60 hour recovery period. The drawdown data is the basis for the calculation of the aquifer transmissivity, the rate at which the brine moves through the aquifer. Based on early testing, the transmissivity of Pastos Grandes is conservatively estimated to be very good at 550 square metres per day (m2/d). Brine sampling during the pumping test was completed every 6 hours for a better understanding of the variation in brine chemical composition as the aquifer was tested. In general, the chemistry is consistent over the 60 hour period with lithium only dropping 8.2 mg/l from an initial 438.7 mg/l to 430.5 mg/l. Lithium to magnesium (Li/Mg), sulphate to lithium (SO4/Li) and potassium to lithium (K/Li) ratios also remain fairly constant over the test period.

A second pumping well is being constructed at hole PGMW17-04b where recent drilling has intersected extensive lithium-bearing brine (see Press Release dated June 27, 2017) and testing is expected to commence in the near future. Sampling was conducted in accordance with CIM guidelines for brine resource evaluation, with an appropriate QA/QC program in place for ensuring accuracy and repeatability of the analytical results.

Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) is an integrated producer and distributor of specialty plant nutrients, iodine, lithium, potassium-related fertilizers and industrial chemicals. Recently, the company announced that its partner in the joint venture Minera Exar in Argentina, Canadian company Lithium Americas (LAC), had announced the closure of strategic financing with the Chinese company Gangfeng Lithium for the total amount of US$172 million. The key purpose of this financing is to continue the development of the Exar project. Exar is controlled 50% by SQM and 50% by LAC. Currently, the detailed engineering stage of the project is being executed, along with the campsite construction, additional hydrological tests, drilling campaigns and the quoting of the equipment. The project considers, on its first stage, the production of 25,000 metric tons per year of lithium carbonate and is expected to be completed during 2019.

Ford Motor Company (NYSE: F) is aggressively pursuing emerging opportunities with investments in electrification, autonomy and mobility. Early this year, the company announced that it is launching a multimillion-pound project designed to help improve air quality in London as the automaker accelerates its electrification plans with 13 new global electrified vehicles scheduled for introduction in the next five years. The project, supported by Transport for London, features a 12-month trial of 20 new plug-in hybrid (PHEV) Ford Transit Custom vans that reduce local emissions running solely on electric power for the majority of city trips such as deliveries and maintenance work. Scheduled to launch this fall, it is part of Ford's commitment to work with major cities around the world to tackle local transportation challenges to help people and goods move freely.

FMC Corporation (NYSE: FMC) has served the global agricultural, industrial and consumer markets with innovative solutions, applications and quality product. FMC operates its businesses in three segments: FMC Agricultural Solutions, FMC Health and Nutrition and FMC Lithium. Recently, the company announced it has signed a definitive agreement to sell its Epax® Omega-3 business to Pelagia AS. The transaction is expected to close by the end of Q3 2017, subject to customary regulatory approvals and closing conditions. "We are pleased to sell our Omega-3 business to Pelagia AS, a leading manufacturer of pelagic fish products," said Eric Norris, President, FMC Health and Nutrition. "We believe Pelagia provides a strong strategic fit for our Epax® Omega-3 product line and will complement Pelagia's existing portfolio."

From electric cars to heavy-duty full-size trucks, General Motors Company (NYSE: GM) provides a complete range of vehicles that meets the needs and expectations of drivers on a truly global scale. There are 10 distinctive automotive brands under the General Motors corporate umbrella: Chevrolet, Buick, GMC, Cadillac, Opel, Vauxhall, Holden, Baojun, Wuling, and Jiefang. Earlier in March, Buick announced that the Velite 5, its first extended range electric vehicle (EREV), will come to China shortly. In the coming two years, Buick will also launch plug-in hybrids and pure battery electric vehicles to expand its green lineup.

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