Soaring Lithium Demandhttps://www.prnewswire.com/news-releases/lithium-mining-projects-forecasted-to-grow-as-soaring-demand-for-lithium-ion-battery-power-rises-globally-656103743.html Ramp up in Lithium-ion battery production due to rapidly grown global demand has driven lithium prices to an all time high.
Leaders in the lithium mining markets are aiming to capitalize on this momentum via expansion of mining operations to advance extraction efforts.
According to research group Freedonia Group, World Lithium growth will be driven by rapid expansion in the lithium-ion battery industry as world demand for hybrid and electric vehicles, energy storage systems, and high-drain portable electronics continues to grow.
The global demand for lithium metal is projected to rise 8.9 percent per year through 2019 to 49,350 metric tons.
In lithium carbonate equivalent (LCE) terms, the value of the global lithium market is projected to reach $1.7 billion.
Active companies in the markets include: NRG Metals Inc. (TSX-V: NGZ) (OTC: NRGMF), Nemaska Lithium Inc. (OTC: NMKEF) (TSX: NMX), Liberty One Lithium Corp. (OTC: LRTTF) (TSX-V: LBY), Lithium Americas Corp. (OTC: LACDF) (TSX: LAC), Advantage Lithium Corp. (OTCQX: AVLIF) (TSX-V: AAL).
Advantage Lithium Corp. (OTCQX: AVLIF)(TSX-V: AAL.V) provide this update on the first sample results from CAU07 and CAU16 in the previously undrilled NW Sector of the Cauchari JV property located in Jujuy Province,
Argentina.
President & CEO Mr.
David Sidoo commented: "Initial high grade results of 635 and 619 mg/l Lithium amid a thick sequence of sandy sediments in the NW Sector confirm the potential of this highly prospective area to be a fast track lithium development project.
Additional drilling will be planned to follow up CAU07 and CAU16 to conduct systematic sampling and define new resources in this area which is located immediately south of the Orocobre Olaroz project and adjacent to the SQM/LAC brine resource.
This is very positive news for the scoping study planned on this project which will commence in 2018." Mr. Sidoo further commented "Results of this caliber, will allow us to consider the most appropriate and fastest path to production with existing infrastructure and access to suppliers and contractors who have worked on
South America's two most recent lithium projects".