NEW YORK, May 8, 2017 /PRNewswire/ --
According to a research report by Markets and Markets, the lithium ion battery sector is expected to be valued at USD 68.97 Billion by 2022, which represents growth of 16.6% CAGR between 2016 and 2022. Factors driving the growth of the market includes strict government mandates on fuel economy, an increase in demand for electric vehicles (EV), along with smart devices and other consumer electronics that use lithium ion batteries as a primary power source. The report indicates that the increasing market of consumer electronics and smartphones has pushed for batteries with higher power capacity that can keep the device running for longer hours. LiCo Energy Metals Inc. (OTC: WCTXF) (TSX-V: LIC.V), Lithium X Energy Corp. (OTC: LIXXF), Pure Energy Minerals Ltd. (OTC: PEMIF), Lithium Americas Corp. (OTC: LACDF), Nemaska Lithium Inc. (OTC: NMKEF)
The heavy power capacity of the batteries, ranging from 3000mAh to 10000mAh, makes them suitable for the use in EVs and industrial applications. By type, it is estimated the Lithium cobalt oxide (LCO) battery has comprised the largest share of the overall lithium ion battery market in 2016. A research by Markets and Markets point out the pros of LCO batteries - their energy density of any LCO battery is very high, and the cost of manufacturing these batteries are fairly reasonable owing to the use of graphite carbon and cobalt. The report also indicates that the market for lithium nickel manganese cobalt battery type is expected to grow at the highest rate between 2016 and 2022.
LiCo Energy Metals Inc. (OTCQB: WCTXF) (TSX-V: LIC.V) announced today that, "a TEM geophysical survey has commenced at the Purickuta Project located within the Salar de Atacama, Chile. The Transient Electromagnetic Method (TEM) geophysical survey provides detailed information on sub-surface conductive layers that can be used to prioritize the most optimum drilling locations. A preliminary interpretation of the data should be available shortly.
Also, the company has received and is reviewing drilling quotes from several well-respected drilling companies. Core hole drilling and brine sampling, to a depth of 200m, is planned to commence as soon as exploration work notices have been filed and accepted by the mining Ministry."
"Salar de Atacama is considered to represent our planet's largest deposit of economically recoverable Lithium and is very well-known for its Lithium production by our neighbors SQM and Rockwood/Albemarle. With positive exploration results we hope to be able to outline a commercially viable project sometime in 2018," commented Mr. Tim Fernback, President and CEO of LiCo.
The Company holds an option to acquire up to a 60% interest in the Purickuta Exploitation concession (the "Property"). The technical content of this news release has been reviewed and approved by Alan Morris CPG and Qualified Person.
Lithium X Energy Corp. (OTCQX: LIXXF) is a lithium exploration and development company with a goal of becoming a low-cost supplier for the burgeoning lithium battery industry. The Company holds properties in Salta, Argentina and Nevada, USA. The Company's flagship project Sal de Los Angeles lithium brine project as well as the newly-acquired Arizaro Lithium Brine Project are located in the prolific 'Lithium Triangle' in mining friendly Salta province, Argentina. On February 27th, the company announced it has been recognized in the 2017 TSX Venture 50® as the mining sector's top performing company. The Company ranked number one in the sector.
Pure Energy Minerals Ltd. (OTCQB: PEMIF) is a lithium resource developer that is driven to become a low-cost supplier for the burgeoning lithium battery industry. The Company is currently focused on the development of the CVS Lithium Brine Project and the adjoining Glory Lithium Clay Project in Clayton Valley, Nevada. On March 6th, Pure Energy Minerals announced that it has completed a constant-rate pumping test at its newest exploration well, CV-7. The test ran continuously for two days and included collection of brine samples along with extensive hydrogeological data on the brine aquifer system. This successful test of CV-7 provided valuable additional data for Pure Energy's technical team to advance and refine its understanding of the Clayton Valley South (CVS) lithium resource.
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. 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. On March 29th, Lithium Americas announced positive Feasibility Study for stage 1 of the Cauchari-Olaroz Lithium Project.
Nemaska Lithium Inc. (OTCQX: NMKEF) intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. Recently, the company and its wholly-owned subsidiaries and Johnson Matthey Battery Materials Ltd ("JMBM") of Candiac, Québec, a wholly-owned subsidiary of Johnson Matthey Plc announced that JMBM has made an early payment of CAD$2,000,000 (of the final CAD$3,000,000 milestone payment) following receipt of the first shipment of lithium hydroxide. The final CAD$1,000,000 will be paid by JMBM once Nemaska Lithium delivers a second shipment of lithium hydroxide that meets JMBM's final criteria.
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