Analysts predict a resurgence in lithium, with some advising investors to seize the opportunity during the current market dip. According to a McKinsey & Co report, the demand for lithium-ion batteries is anticipated to grow by approximately 33% annually. By 2030, it is expected to surpass a market size of $400 billion.
The report emphasizes the imperative of substantial increases in lithium mining to meet this escalating demand. The success of the lithium supply chain is deemed crucial for establishing a sustainable and resilient battery industry, as highlighted in the full report available at:
https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/battery-2030-resilient-sustainable-and-circular#/
Volt Lithium's (Ticker: VLT or VLTLF for US investors) goal is to help support the green transition by becoming North America's first company to produce lithium from oilfield brines.
VLTt's unique position stems from its proprietary lithium extraction technology designed specifically for oilfield brines. Notably this technology is supported by lab testing and a pilot production program.
VLT possesses lithium extraction rights for the Rainbow Lake Brine Project in Alberta, estimated to harbor 4.3 million metric tons of lithium carbonate equivalent. The project has a high estimated output capacity of 99 billion barrels of lithium-infused oilfield brine. VLT's strategy involves enhancing returns and cash flow by strategically optimizing the asset base, with an initial focus on regions exhibiting lithium concentrations ranging from 101 to 121 mg/L.
Notably, VLT has secured access to existing infrastructure through agreements with Cabot Energy, which holds the oil extraction rights to the project. This arrangement minimizes the capital expenditure needed for commercial lithium operations.
A total investment of $100 million has been made in facilities, wells, and pipelines, encompassing three multi-well batteries with significant water-handling capacity drawn from operational oil wells.
Currently, Volt is actively developing a Preliminary Economic Assessment (PEA) for the Rainbow Lake Project, nearing the conclusion of determining both capital and operating costs for a 20,000-tonne-per-annum extraction plant.
In a recent announcement, Volt revealed plans to commission a permanent Demonstration Plant for its extraction technology in Calgary. This facility will facilitate the testing of oilfield brines from basins across North America.
Full announcement here: 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.