NEW YORK, January 23, 2018 /PRNewswire/ --
Increasing demand for electric vehicles continued to drive the lithium market. According to a report published by Zion Market
Research, global lithium-ion battery market was valued at around USD 31.17 billion in 2016 and is
expected to reach USD 67.70 billion by end of 2022, growing at a CAGR of slightly above 13.70%
between 2017 and 2022. Lithium-ion batteries are also widely used in portable electronics, such as smartphones, cameras, watches
and tablets. Based on power capacity segment, the low power lithium-ion battery (5-25 Wh) segment accounted for over 32 percent
of the total market in 2016 due to the increasing demand for portable electronics. MGX Minerals Inc. (OTC: MGXMF), Albemarle
Corporation (NYSE: ALB), Tesla Inc. (NASDAQ: TSLA), Advantage Lithium Corp. (OTC: AVLIF), Galaxy Resources Limited (OTC:
GALXF)
According to another report from Research and Market, the global lithium compound market reached a volume of 260,500 Tons in
2016, the market is expected to reach a volume of 399,800 Tons by 2022, at a CAGR of more than 7% during the forecast year.
Lithium forms numerous organic and inorganic compounds including hydride, oxide, nitride, carbide, hydroxide, which can be used
in cooling systems for nuclear reactors, rechargeable batteries, aircrafts and other applications.
MGX Minerals Inc. (OTC: MGXMF) also listed on the Canadian Securities Exchange under the Ticker 'XMG'. Earlier today
the company announced breaking news that, "appointment of Randall W. Keller as Vice President of
Business Development. Mr. Keller will work alongside former California Senate Majority Leader
Richard Polanco (see press release dated December 1, 2017) to target
geothermal lithium exploration in California and other Western States that the Company has
identified for potential partnerships and acquisition targets to secure lithium brine feedstock and operating sites for its
lithium extraction and water treatment systems.
Mr. Keller is a highly accomplished executive with over 35 years of global experience in the energy sector. He is formerly the
Director of Business Development, Transmission and Land Assets, for Berkshire Hathaway Energy Renewables ("Berkshire"), a holding company controlled by Berkshire Hathaway Inc. At Berkshire, Mr. Keller was responsible for the development of large-scale renewable energy projects within
the Berkshire holdings platform in southern California and
managed a large team of engineers, geologists, chemists and scientists, overseeing budgets in excess of $1
billion. Previously Mr. Keller held executive leadership roles at Charah, Inc. where he oversaw heavy civil construction
services and transportation logistics for the electric utility industry. Prior to that he owned and operated Kelcorp Construction
Company for 15 years, where he was responsible for heavy civil utility infrastructure buildout projects, working with both the
Government and private sector clients.
"We welcome Randy Keller to the MGX team and look forward to utilizing his deep industry
experience as we target additional acquisition and strategic partnerships throughout California," stated MGX President Jared Lazerson. "We continue to build our
U.S. leadership team and more specifically our California-focused team as we believe the State
offers a multitude of opportunities to implement lithium extraction and water purification systems."
MGX currently controls over two million acres of lithium brine mineral claims throughout North
America. The Company's rapid recovery process concentrates lithium, magnesium and other minerals from a variety of
wastewaters using low energy nanofiltration technology. This proprietary design process is currently covered under patent and
patent-pending applications. MGX has integrated this design process with exclusively licensed and patented nanoflotation
technology that purifies wastewaters. Combined, this Cleantech has global applications in mineral extraction, including lithium,
and water purification for reuse and repurpose."
Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC, is a global
specialty chemicals company with leading positions in lithium, bromine and refining catalysts. On November
8, 2017, the company reported third quarter 2017 net sales of $754.9 million, earnings of
$118.7 million and adjusted EBITDA of $209.4 million. Lithium and
Advanced Materials reported net sales of $343.6 million in the third quarter of 2017, an increase
of 42.9% from third quarter 2016 net sales of $240.4 million. The $103.1
million increase in net sales as compared to prior year was primarily due to favorable pricing impacts, increased sales
volumes and $1.6 million of favorable currency exchange impacts. Adjusted EBITDA for Lithium and
Advanced Materials was $130.2 million, an increase of 42.0% from third quarter 2016 results of
$91.7 million. The $38.5 million increase in adjusted EBITDA as
compared to the prior year was primarily due to favorable pricing impacts and increased sales volumes, partially offset by
Lithium growth spending, a $3.9 million negative impact from hurricane Harvey on Performance
Catalyst Solutions ("PCS") and $0.2 million of unfavorable currency exchange impacts.
Tesla Inc. (NASDAQ: TSLA) mission is to accelerate the world's transition to sustainable energy. With the opening of the
Gigafactory and the acquisition of SolarCity, Tesla now offers a full suite of energy products that incorporates solar, storage,
and grid services. As the world's only fully integrated sustainable energy company, Tesla is at the vanguard of the world's
inevitable shift towards a sustainable energy platform. According to a blog by The Tesla Team last year, Tesla and Panasonic
began mass production of lithium-ion battery cells, which will be used in Tesla's energy storage products and Model 3. The high
performance cylindrical "2170 cell" was jointly designed and engineered by Tesla and Panasonic to offer the best performance at
the lowest production cost in an optimal form factor for both electric vehicles and energy products. Model 3 cell production will
follow in Q2 and by 2018, the Gigafactory will produce 35 GWh/year of lithium-ion battery cells, nearly as much as the rest of
the entire world's battery production combined.
Advantage Lithium Corp. (OTCQX: AVLIF) is a resource company specializing in the strategic acquisition, exploration and
development of lithium properties and is headquartered in Vancouver, British Columbia. Recently,
the company provided this update on the brine sampling of diamond core hole CAU15 in the south of the previously undrilled NW
Sector of the Cauchari JV property located in Jujuy Province, Argentina. Drilling intersected an
extensive sequence of sandy material, with coarse sandy gravel units in the last 20 m of the hole.
Brine assays from 9 samples at an average sample spacing of 15 m returned an average of 407 mg/l
Lithium and 3,196 mg/l Potassium over 132.5 m from a depth of 102 m
to the base of sampling at 234.5 m, with the total hole depth 243.5
m. Higher grade brine in the deeper part of the hole averaged 475 mg/l Lithium and 3,662 mg/l Potassium from 174 to
234.5 m.
Galaxy Resources Limited (OTC: GALXF) is an international S&P / ASX 200 Index company with lithium production
facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in
Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada. Recently, the
company reported to shareholders its activities for the quarter ended 31 December 2017. The company
announced record production of 52,139 dry metric tonnes ("dmt") of lithium concentrate, an increase of 11% over Q3 2017 and
record sales of 58,094 dmt of lithium concentrate, an increase of 39% over Q3 2017.
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