Lithium Companies' Resilience Amidst Market Challenges As discussed by Keith Phillips, CEO and president at Piedmont Lithium in a recent CNBC interview below, despite a 45% drop in lithium prices in Q3, Piedmont has become a revenue-generating company after commencing customer shipments. Phillips acknowledges the challenges in the lithium market but emphasizes the importance of owning high-quality, low-cost assets to weather market cycles successfully.
Phillips also expresses confidence in the long-term growth of the EV market, citing a 38% increase in global EV demand this year and a 40% increase in the U.S. Looking ahead, he anticipates the need for 40 times more domestic lithium production by the end of the decade and believes that lithium prices will stabilize and rebound despite short-term volatility. Phillips concludes by expressing a bullish outlook on the medium-term prospects for the lithium market.
Full interview:
Addressing these anticipated future lithium supply gaps in North America, Volt Lithium (Ticker: VLT or VLTLF for US investors) is actively working on its unique 2-stage Direct Lithium Extraction technology.
This technology eliminates 99% of contaminants in the first stage and extracts as much as 90% of lithium from brine in the second stage, resulting in reduced overall capital costs for the operation.
The advanced technology is designed to seamlessly integrate into existing oil and gas production infrastructure. Validated by lab testing and a pilot production program, Volt Lithium has commissioned a permanent Demonstration Plant for its extraction technology.
Initially developed for its Rainbow Lake lithium brine project, estimated to contain 99 billion barrels of lithium-infused brine, Volt Lithium recently announced plans to apply its extraction technology to oilfield brines from various basins across North America.
This strategic move broadens the company's industry applications, opening up opportunities for partnerships and collaborations and significantly expanding its potential reach and impact.
Full Press Release: https://voltlithium.com/wp-content/uploads/2023/10/23-10-24-Press-Release-N.-America-Brines-Expansion-FINAL-CLEAN.pdf
Posted on behalf of Volt Lithium Corp.