SAN ANTONIO, Sept. 17, 2012 /PRNewswire/ -- Nova Mining Corp. (OTCBB: NVMN): Last Friday, the government of the world's largest producer of lithium announced that three companies have submitted bids to develop lithium reserves in the country's northern region. The government of Chile disclosed that one of the bidders was Posco Consortium, made up of South Korean firms Posco and Daewoo International Corporation, Japan's Mitsui and Santiago-based Li3 Energy. The other two were the Chilean firms Sociedad Legal Minera NX UNO de Peine, controlled by Grupo Errazuriz; and Sociedad Quimica y Minera de Chile.
"It's no secret that the last Apple product launch was a tremendous boon for lithium mining and supply companies," stated Nova Mining President James Dilger. "The iPhone 5 orders sold out in minutes on Friday and analysts are predicting that retailers will see lines as long as the record queues seen for the iPhone's original debut in 2007. I am glad to say that we have made moves to place Nova Mining Corp in the best possible position to benefit."
Chile is a halfway around the world from Asia, where the vast majority of lithium ion batteries are manufactured. Even Apple's current battery supplier is located in South Korea. Nova Mining Corp management has been hard at work to take advantage of this proximity cost opportunity by moving to secure lithium supplies in Mongolia, which is also located on the Asian Continent. Mongolia is connected by rail to South Korea and Chinese battery manufacturing centers as well as being very near to Japan. Nova Mining Corp has also just received written notice that their business associate Mongolian National Mining Consultants Limited (MNMCL) is in negotiations to add several new mining sites in Kazakhstan – which is next door to Mongolia. The Company has already received third-party estimates of the commercially recoverable lithium deposits owned by MNMCL that are under contract by Nova Mining Corp to be in excess of $12 Billion USD.
Nova Mining Corp. (NVMN) seeks out the most potentially lucrative mining projects, supplies and sales of strategic high-demand minerals, such as lithium, as part of its aggressive economic business model. Lithium is in short supply because it is needed for making long life batteries, like those used in Apple's popular iPhones and iPads, Google's new Nexus 7 tablet and Tesla Motor's new performance electric cars.
About Nova Mining Corp. (OTCBB: NVMN)
Nova Mining Corporation is a Nevada corporation listed on the OTCBB under the trading symbol NVMN. The Company is a growth-focused entity that seeks to acquire an international portfolio of strategic high-demand mineral mining assets. Nova Mining competes in an industry sector that includes FMC Corp.
More information on Nova Mining Corp can be seen at: http://www.nova-mining.com
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Nova Mining Corp
SOURCE Nova Mining Corp.