The Lithium-Ion Battery Market is Set to Expand as Electric Vehicle Reliance Grows

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

According to a report published by Transparency Market Research, the lithium-ion battery market is expected to grow from USD 29.68 Billion in 2015 to reach USD 77.42 Billion by 2024. The market is also expected to register a compound annual growth rate (CAGR) of 11.6% during the forecast period. Lithium-ion batteries are designed to provide higher productivity and longer life expectancy than other batteries. Based on their application, the lithium-ion battery market is segmented into the automotive, consumer electronics, and industrial and grid energy segments. Automotive and consumer electronics are two of the major segments of the global lithium-ion battery market due to the increasing demand for electric vehicles, smartphone, laptops and other devices. European Electric Metals Inc. (OTC: EVXXF), Lithium Americas Corp. (NYSE: LAC), Artemis Resources Ltd (OTC: ARTTF), First Cobalt Corp (OTC: FTSSF), NRG Metals Inc. (OTC: NRGMF)

Lithium and cobalt are the two essential components of lithium-ion batteries. Cobalt production is bound closely to copper and nickel mining, as there are very few pure cobalt mines. Additionally, the cobalt supply is mainly dominated by the Democratic Republic of Congo (DRC). These factors have driven the cobalt price surge in recent years. According to Chemistryworld, Caspar Rawles, market analyst at Benchmark Minerals Intelligence, said: "For the first time we have seen large-scale battery manufacturers increase their prices. That has largely been down to the price of key commodities such as lithium and cobalt. Cobalt has a big impact and that is one of the big talking points for the industry right now."

European Electric Metals Inc. (OTC: EVXXF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: EVX). Just earlier this morning the company releassd breaking news that it is pleased to announce, "the appointment of Mr. Ian Stalker as Advisor. Mr. Stalker is an international mining executive with 45 years of experience in mine development and operations in Europe, Africa and Australia. Mr. Stalker was the Chief Executive Officer of UraMin Inc., a London-listed and Toronto-listed uranium company, from July, 2005, until its $2.5 billion acquisition by Areva in August, 2007.

Mr. Stalker was a vice-president of Gold Fields Ltd., the world's fourth-largest gold producer, where he spent considerable time on the ground on its international operations. Mr. Stalker has held executive positions in some of the largest mining companies in the world and has successfully managed eight mining projects through feasibility study, development and construction phases.

Mr. Stalker has significant cobalt experience gained during his time on the Zambian Copperbelt from 1973 to 1987. Mr. Stalker operated the country's only dedicated cobalt process plant and was involved in the design and construction of the plant, which is still in operation. Additionally, he was the Chief Executive Officer of the Luanshya Mine from 1999-2000, after its 1997 privatization, where the bulk of the cobalt production from the Copperbelt was centered. Mr. Stalker's current roles include Chairman of Plateau Energy Metals, Chief Executive Officer of LSC Lithium and Director of K92 Mining Inc.

Mr. Fred Tejada, EVX Chief Executive Officer, states, "Ian not only has a track record of success at starting and re-starting mining operations, but his experience is unique in that it includes significant operational expertise in cobalt mining and processing. Our Skroska Nickel-Cobalt Mine is a fully developed mine with excellent underground infrastructure, development and equipment and we are targeting a restart of operations. Ian will be a big asset as we push forward aggressively with these plans."

About European Electric Metals Inc.- European Electric Metals Inc. is a Canadian listed public company, with a focus on electrification themed projects in Europe. A major shareholder of EVX is the European Bank for Reconstruction and Development. The goal of EVX is to become a major source of battery metals such as copper, nickel and cobalt, and the Company seeks to do so within safe, stable and logistically attractive European jurisdictions. The Company's projects are ideally located with excellent road, port and grid power availability, and near European countries that are poised to experience dramatic growth in the electric-vehicle-manufacturing industry. There is a strong battery-manufacturing industry within Europe with many more projects in the pipeline."

Lithium Americas Corp. (NYSE: LAC) is developing Caucharí-Olaroz, under construction in Jujuy, Argentina, and on the closing of the Transaction will have a 62.5% interest in Cauchari-Olaroz with Ganfeng Lithium holding a 37.5% interest. Lithium Americas Corp. recently announced that it has entered into definitive transaction agreements to implement a number of transactions, pursuant to which, among other things, a subsidiary of Sociedad Química y Minera de Chile S.A. ("SQM") has agreed to sell all of its interest in Minera Exar S.A., the holding company for the Caucharí-Olaroz lithium brine project, to a subsidiary of Jiangxi Ganfeng Lithium Co., Ltd. As a result of the Transaction, Ganfeng Lithium will become Lithium Americas' partner in developing and operating the Project, which is currently under development in Jujuy, Argentina. Lithium Americas' interest in Caucharí-Olaroz will increase from 50% to 62.5%, with Ganfeng Lithium holding the remaining 37.5% interest. "We would like to thank SQM for providing the support to advance Caucharí-Olaroz into construction, helping to build an independent team in Jujuy and putting the Project on a path to reach first production by 2020," said Lithium Americas' Chief Executive Officer, Tom Hodgson. "We are also very pleased to welcome Ganfeng Lithium as our new partner at Cauchari-Olaroz to continue development on our previously disclosed timeline and explore future opportunities to collaborate."

Artemis Resources Ltd (OTC: ARTTF) is a diversified explorer transitioning towards development. Artemis Resources Limited recently announced that high-grade cobalt, copper and gold mineralization has now been extensively drilled over a continuous strike of 1.2km from a target of over 12km in strike length at its 100% owned Carlow Castle Project, located 30km from Artemis's Radio Hill processing plant. All drill results have now been received from the extensive 24,655m drilling programmed and a new JORC 2012 compliant resource is now being estimated and is scheduled to be delivered this quarter. The Company is expecting a significant increase in the previous maiden JORC resource as reported in January 2018. Artemis' Executive Director Ed Mead commented: "Carlow Castle was one of the first ever cobalt discoveries in Australia in the 1920's and since intersecting cobalt grades up to 6.5% in the early stages of this drilling programme, this project continues to deliver outstanding results.

First Cobalt Corp (OTCQX: FTSSF) a North American pure-play cobalt company whose flagship asset is the Iron Creek Cobalt Project in Idaho, USA, which has Inferred mineral resources of 26.9 Million tons grading 0.11% cobalt equivalent. First Cobalt Corp. recently reported new drill results from its Iron Creek Cobalt Project in Idaho, USA. Results reported demonstrate thicker cobalt mineralized zones as well as mineralization between the two recognized zones. Highlights: All drill holes reported contain mineralization over long widths and grades above the Inferred Resource average grade, including: 25.7m of 0.35% Co and 0.62 Cu (0.42% CoEq) in hole ICS18-03, 22.6m of 0.34% Co and 0.59% Cu (0.40%CoEq) in hole IC18-29, 27.8m of 0.27% Co and 1.09% Cu (0.38% CoEq) in hole ICS18-02; Higher grade mineralization occurs within the broader zones of mineralization, including 8.0m of 0.45% Co and 2.07% Cu (0.65%CoEq) in hole ICS18-02; Several mineralized intersections occur in between the No Name and Waite Zones, including 3.8m of 0.30% Co in hole IC18-28. Trent Mell, President & Chief Executive Officer, commented: "Today's drill results from our flagship asset support the development vision for the future of the Iron Creek Project. We now have three drill rigs on site for infill and extensional drilling as we work towards updating the mineral resource estimate in early 2019."

NRG Metals Inc. (OTCQB: NRGMF) is an exploration stage company focused on the advancement of lithium brine projects in Argentina. NRG Metals Inc. recently provided additional information regarding the maiden lithium (Li) and potassium (K) resource statement for its Hombre Muerto North lithium brine project in the Salta province of Argentina. The average grade of lithium for the 571,000 tones combined Measured and Indicated resource (509,000 measured and 62,000 indicated) is 756 mg/liter lithium, with a low lithium to magnesium ratio of 2.6 to one. Adrian Hobkirk, President and Chief Executive Officer of NRG, commented, "the grades we are seeing at the Hombre Muerto Project are some of the highest reported grades for any of the lithium-bearing brine deposits in Argentina. The combination of high grades, excellent chemistry and good pumping rates are very positive indicators that we hope will allow us to advance the project through feasibility studies to production should the economic viability and technical feasibility of the project be established."

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