PALM BEACH, Fla., April 18, 2023 FinancialNewsMedia.com News Commentary
/PRNewswire/ -- Dynamic emission standards and changing government policies with respect to electric vehicles are anticipated to provide a positive outlook to the lithium mining industry. Over the next ten years, the worldwide lithium mining industry is expected to grow at a CAGR of 7% through 2031. Globally, operations in the lithium mining business have been scaled back during COVID-19... but following this collapse, the market has fully recovered. A report from Fact.MR said that Lithium Mining Revenues are projected to attain USD 3.1 Billion by 2031; & Battery Manufacturing is anticipated to hold a strong position. The Report said: "There are several drivers for the lithium mining market, including: The increasing demand for electric vehicles, smartphones, and other electronic devices that use lithium-ion batteries is driving the demand for lithium. Lithium is a key component of these batteries, and as the demand for these products grows, so does the demand for lithium; Governments across the globe are promoting the use of electric vehicles as a means of reducing carbon emissions and achieving climate change targets. This has led to increased investment in the development of electric vehicle infrastructure and the expansion of lithium-ion battery production capacity; Lithium-ion batteries are increasingly being used for energy storage systems, particularly in renewable energy applications. As the use of renewable energy grows, the demand for lithium is expected to increase as well; and Emerging markets such as China and India are seeing rapid growth in the adoption of electric vehicles and renewable energy, which is driving demand for lithium." Active mining companies in the markets this week include: Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), Albemarle Corporation (NYSE: ALB), E3 LITHIUM LTD. (OTCQX: EEMMF) (TSX-V: ETL), LithiumBank Resources Corp. (OTCQX: LBNKF) (TSX-V: LBNK), Patriot Battery Metals Inc. (OTCQX: PMETF) (TSX-V: PMET).
Fact.MR concluded: "As technology improves, the use of lithium-ion batteries is becoming more efficient, leading to increased demand for high-quality lithium. Overall, the growing demand for lithium-ion batteries, coupled with government initiatives to promote renewable energy and electric vehicles, is expected to drive the growth of the lithium mining market in the coming years."
Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI) BREAKING NEWS: Indigo Exploration Outlines Exploration Plan to Advance its Alberta Lithium Brines Projects - Indigo Exploration Inc. (the "Company") is pleased to announce its exploration plans for its Alberta-based lithium brine projects for 2023. The exploration program which will initially focus on the Fox Creek and Leduc projects, will include well sampling and aquifer modelling, and result in the tabling of two National Instrument NI 43-101 resource estimates by fall and the commencement of a Preliminary Economic Assessment (PEA) for each project before the end of the year. These projects are located adjacent to active exploration and development work being undertaken by Lithium Bank (TSXV:LBNK) and E3 Lithium (TSXV:ETL). The Company also plans to evaluate and test various direct lithium extraction (DLE) options, utilizing actual brines collected from the sampling program, under the supervision of its metallurgical advisors Dr David Dreisinger, P.Eng. and Dr Gary Kordosky.
"Having only recently accumulated our strategic land position late last year, we are excited to fast-track the development of these highly prospective projects this year" commented CEO, Paul Cowley. "Our projects are located in the heart of the most prospective areas for lithium brine development in central Alberta and are surrounded by claims being actively explored and developed by the most advanced companies in the space. What makes petro-lithium brine projects unique is the extensive amount of government data available through decades of oil and gas production, which not only significantly reduces geologic risk, but also allows for the ability to advance the project quickly through to a maiden resource and economic evaluation on a much shorter timeline and at significantly lower cost than conventional hard rock or evaporative brine projects." CONTINUED… Read this and more news for Indigo Exploration at: https://www.indigoexploration.com/news/news-2023
In other market news of interest:
Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, recently announced that it will release its first-quarter 2023 earnings after the NYSE closes on Wednesday, May 3, 2023.
The company will hold its conference call to discuss first-quarter 2023 results on Thursday, May 4, at 9:00 a.m. ET. This call will be webcast and can be accessed through Albemarle Corporation's website at http://investors.albemarle.com, via the webcast link below or by phone at the following numbers:
PARTICIPANT INFORMATION (Public):
United States: 1 833.470.1428
United States (Local): 1.404.975.4839
All other locations: +1 404.662.2808
Participant Access code: 741195
E3 LITHIUM LTD. (OTCQX: EEMMF) (TSXV: ETL), "E3" or the "Company," Alberta's leading lithium developer and extraction technology innovator, recently announced it has received approval on its Facility Application from the Alberta Energy Regulator (AER) for its 2023 field pilot plant. The license granted by the AER allows E3 to construct and operate the necessary equipment to run the direct lithium extraction pilot, planned to begin operations in Q3 2023.
The pilot plant will be located at the first well E3 drilled in its 2022 inaugural drill program, located east of the Town of Olds in E3's Clearwater Project Area. In the February 2, 2023 news release, E3 outlined the details and timeline expected for the field pilot.
LithiumBank Resources Corp. (OTCQX: LBNKF) (TSX-V: LBNK) recently announced it has signed a Memorandum of Understanding "(MoU") with ZS2 Technologies Inc. ("ZS2"). The MoU will enable ZS2 to deploy their proprietary and patented CO2 Direct-Air-Capture ("DAC") technology to capture carbon dioxide emissions from the Boardwalk and Park Place projects in central Alberta, Canada. ZS2 will also further process treated brine to collect magnesium (Mg) and calcium (Ca) for use in their proprietary magnesium cement products.
Highlights Were: Potential to capture and permanently sequester 100% of CO2emissions produced from LithiumBank's onsite power facility at Boardwalk; ZS2 will co-produce magnesium and calcium onsite in a future integrated processing facility from treated brine after the lithium has been removed; ZS2 will permanently sequester CO2 emissions in magnesium and calcium carbonates (MgCO3 & CaCO3) that will be used in their proprietary magnesium cement products; The ZS2 processing facility will generate acid and base biproducts that can cost effectively be used in the Company's lithium processing plant at Boardwalk and The Mg and Ca stripping will consume treated brine and has the potential to reduce reinjection requirements by at least 10%.
Patriot Battery Metals Inc. (OTCQX: PMETF) (TSX-V: PMET) recently provided an update on its activities focused on the development of the CV5 Pegmatite, at its wholly owned Corvette Property (the "Property" or "Project"), toward Pre-Feasibility. The Property is located in Eeyou Istchee James Bay, Quebec, approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.
Concurrent to the ongoing drill program at the CV5 Pegmatite (see news release dated March 29, 2023), the Company has been completing various activities and studies in support of advancing the CV5 Pegmatite toward Pre-Feasibility. These mandates are part of a broader work program including desktop and site environmental, hydrogeological, geotechnical, geomechanical, social, and various other disciplines required for evaluating economics and other pertinent factors in a potential development scenario of the Project at a Pre-Feasibility Study level ("PFS").
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