As highlighted by Research And Markets' report, the global lithium compound market is experiencing substantial growth, projected to reach $8.6 billion by 2028, with an 8.22% compound annual growth rate (CAGR) from 2023 to 2028. This growth is primarily driven by the increasing demand for lithium-ion batteries, particularly in the automotive industry.
https://www.prnewswire.com/news-releases/global-lithium-compound-market-surges-to-8-6-billion-by-2028--fueled-by-lithium-ion-battery-boom-301959432.html
Volt Lithium (ticker: VLT.v or VLTLF for US shareholders) is poised for commercial success in lithium extraction due to its innovative strategies and proprietary technology. The company's focus is on extracting lithium from oilfield brine, and it has partnered with Cabot Energy, an oil company, to achieve efficient production without the need for greenfield project approvals.
Cabot Energy holds the oil extraction rights for the Rainbow Lake Project, while Volt controls the lithium extraction rights. The Rainbow Lake Project, situated in Northwestern Alberta and spanning 430,000 acres, contains an estimated 4.3 million tons of lithium resource, with a reservoir estimated to contain 99 billion barrels of lithium-infused brine at concentrations of up to 121 mg/L.
Volt Lithium employs a unique two-stage extraction process, first removing 99% of contaminants from the lithium-infused brine and then implementing their proprietary Direct Lithium Extraction (DLE) process, which can extract up to 90% of the lithium from the brine.
With access to this vast lithium reservoir, streamlined operations, and cutting-edge technology, Volt Lithium is well-positioned to revolutionize the future of lithium production.
Visit their website for more information: https://voltlithium.com/projects-and-assets/
Posted on behalf of Volt Lithium Corp.