NEW YORK, January 10, 2018 /PRNewswire/ --
According to the report, global lithium-ion battery market was valued at around USD 31.17
billion in 2016 and is expected to generate revenue of USD 67.70 billion by end of 2022,
growing at a CAGR of slightly above 13.70% between 2017 and 2022. The increase in demand for electric vehicles, smart devices as
well as other consumer electronics are anticipated to boost the lithium-ion battery market. Lithium-ion batteries are mostly used
for consumer or home electronics. The report also indicates that lithium nickel manganese cobalt (LI-NMC) is one of the
leading segments of the lithium-ion battery market. First Cobalt Corp. (OTC: FTSSF), FMC Corporation (NYSE: FMC), Lithium
Americas Corp. (OTC: LACDF), Albemarle Corporation (NYSE: ALB), Tesla Inc. (NASDAQ: TSLA).
A major component of the lithium-ion battery market is cobalt. Reuters reported that by 2020, 75 percent of lithium-ion
batteries will contain cobalt, whose properties allow electric cars to extend their range between charges, according to eCobalt
Solutions. "Future demand for cobalt from the EV (electric vehicle) sector is looking tangible and is more positive than
originally expected," one commodity-focused fund manager said according to the Reuters report. "China has some aggressive plans in terms of electric vehicles. It will be a major driver behind cobalt
consumption growth."
First Cobalt Corp. (OTCQB: FTSSF) is also listed on the TSX Venture Exchange under the ticker symbol 'FCC'. Earlier
today the company announced breaking news that, "positive assay results from two holes intersecting cobalt mineralization on two
separate veins in the Woods Extension area of the Cobalt Camp, Ontario. One intersection occurs
along strike of the Watson vein and the other is likely a new vein between the Woods and
Watson veins. These intercepts, in conjunction with previous results from this area, suggest a
broad deformation zone of mineralization may exist between the Woods and Watson veins.
Highlights:
- 0.57% Co and 1.40% Ni over 0.40m in hole KF-WV-0003 on a new vein between the Woods and
Watson veins
- 0.34% Co over 0.40m in hole KF-WV-0007 in the Woods Extension Area representing a possible
extension of the Watson vein system
- Several carbonate veins have now been intersected in the Woods Extension area to the north of the Keeley-Frontier mine,
suggesting a broad deformation zone of mineralization may exist rather than discrete individual veins
Trent Mell, President & Chief Executive Officer, commented: "Drill results from Woods
Extension continue to prove exciting during these early days of our Cobalt Camp drilling. All drill holes in this area have hit
meaningful values of cobalt or other metals and the mineralization is open along strike northward. It is noteworthy that cobalt
mineralization has been intersected to the north and south of the historic Keeley and Frontier mines, where the focus was silver
mineralization."
The Woods and Watson veins accounted for over 80% of the production in the southern end of
the Cobalt Camp area known as Silver Centre. The veins were previously believed to have ended at an east-west fault. Assays in
this area, however, show the vein system extends northward beyond the historic mine workings, in an area previously
unexplored.
Nine drill holes were completed at the Woods Extension area to the north of the Frontier mine to test the possible extension
of the Woods and Watson veins. Assay results have been received from seven drill holes. Calcite
veins have been intersected in most holes and five holes returned anomalous cobalt (>0.05% Co). A number of samples from these
five drill holes have also returned anomalous silver (>10 g/t) as well as other metals Cu, Zn and Pb, which may represent a
broad zone of mineralization rather than discrete individual veins. The lower grade of silver mineralization may explain the lack
of mine development to the north of the historic Frontier mine, but this area remains prospective for cobalt mineralization."
FMC Corporation (NYSE: FMC) announced on January 4th that it has revised its operating
agreements in Argentina, allowing it to expand production and completing an important step
toward the intended separation of its lithium business in 2018. The revised operating agreements update FMC royalties and
corporate social responsibility (CSR) programs in Argentina and eliminate restrictions that may
have prevented a change of control of FMC Lithium. The revised royalties and CSR programs are at levels generally consistent with
current commitments.
Lithium Americas Corp. (OTCQX: LACDF), earlier in October provided an update on the Lithium Nevada Project (the
"Lithium Nevada Project") located in Nevada, USA. The Company is developing the 100% owned
Lithium Nevada Project, a clay-based lithium resource in the McDermitt Caldera, through its wholly owned subsidiary, Lithium
Nevada Corp. Building on years of exploration and testing, a Preliminary Feasibility Study on the Lithium Nevada Project is
expected to be complete by the end of Q2 2018 to demonstrate the economic potential of producing lithium hydroxide from
lithium-bearing claystone. "Supported by one of the strongest technical teams in the industry, we intend to develop the Lithium
Nevada Project into a globally significant source of lithium," commented Alexi Zawadzki, President
of North American Operations at Lithium Americas.
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine
and refining catalysts. On December 19th, the company announced that it is launching a new
technology for the Fluid Catalytic Cracking (FCC) catalyst market called Granite™. The Granite™ technology reinforces Albemarle's
long-standing leadership in the FCC market and offers new options for customers, whether they focus on fuel or petrochemical
production. Dave Clary, vice president of FCC, stated "Albemarle is proud to offer new
technologies that give our customers operational flexibility and improved performance. We are committed to developing superior
catalyst solutions which our customers can use to meet their toughest challenges."
Tesla Inc. (NASDAQ: TSLA) mission is to accelerate the world's transition to sustainable energy through increasingly
affordable electric vehicles and energy products. To achieve its planned production rate of 500,000 cars per year by 2018, Tesla
alone will require today's entire worldwide supply of lithium-ion batteries. The Tesla Gigafactory was born out of necessity and
will supply enough batteries to support Tesla's projected vehicle demand. In 2014, Panasonic Corporation and Tesla Motors, Inc.
have signed an agreement that lays out their cooperation on the construction of a large-scale battery manufacturing plant in
the United States, known as the Gigafactory. The Gigafactory is being created to enable a
continuous reduction in the cost of long range battery packs in parallel with manufacturing at the volumes required to enable
Tesla to meet its goal of advancing mass market electric vehicles.
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