Global Lithium Mining Revenues To Attain $3.1 Billion By 2031 as Battery Manufacturing Anticipated To Hold Strong Position

FinancialNewsMedia.com News Commentary 

PALM BEACH, Fla., May 25, 2023 /PRNewswire/ -- The demand for Lithium-ion batteries seems to grow daily and the market's future looks to significantly expand for years to come. 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. Globally, operations in the lithium mining business had scaled back during COVID-19 but the market has fully recovered as a report from Fact.MR projected that the Lithium Mining Revenues to Attain USD 3.1 Billion by 2031; Battery manufacturing anticipated to hold strong position. The report said there are several drivers for the market. "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." Active Companies in the markets today include Century Lithium Corp. (OTCQX: CYDVF) (TSXV: LCE), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), Standard Lithium Ltd. (NYSE American: SLI) (TSX-V: SLI), American Lithium Corp. (NASDAQ:AMLI) (TSX-V:LI), Frontier Lithium Inc. (OTCQX: LITOF) (TSX-V: FL).

It continued: "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. 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. Over the next ten years, the worldwide lithium mining industry is expected to grow at a 7% CAGR by 2031."

Century Lithium Corp. (OTCQX: CYDVF) (TSXV: LCE) BREAKING NEWS: CENTURY LITHIUM RECONFIRMS PRODUCTION OF BATTERY GRADE PURITY LITHIUM CARBONATE AND PROVIDES UPDATE ON FEASIBILITY STUDY - Century Lithium Corp. (Frankfurt: C1Z1) ("Century Lithium" or "the Company") is pleased to report it has repeated the production of a high-purity lithium carbonate (Li2CO3) grading 99.87% with lithium-bearing claystone from the Company's 100%-owned Clayton Valley Lithium Project (Project) in Nevada, USA. Several kilograms of the high purity Li2CO3were made from the intermediate lithium solutions generated in January at the Company's Lithium Extraction Facility (Pilot Plant) in Amargosa Valley, Nevada. Following leaching and direct lithium extraction (DLE) at the Pilot Plant, solutions were shipped to Saltworks Technologies Inc. (Saltworks) where the final processing was completed.

"These results are in line with those we reported in September 2022, when we achieved a significant milestone in making lithium carbonate grading 99.94%" stated Bill Willoughby, President and CEO of Century Lithium. "The latest results confirm our ability to obtain a high purity lithium product with a low level of impurities from our claystone process."

Century Lithium has now successfully repeated steps from test mining through to the manufacture of battery-grade Li2CO3. The table below is a comparison of the latest results with those from September 2022. Also shown, are the constituent levels for battery grade lithium carbonate as published by two major producers. The results for the Company's lithium carbonate material assays were finalized by Saltworks and SGS Canada Inc. CONTINUED… Read this full release for Century Lithium at: https://centurylithium.com/news/ 

Other recent developments in the markets include:

Frontier Lithium Inc. (OTCQX: LITOF) (TSXV: FL) recently announced that the Company filed the National Instrument 43-101 ("NI 43-101") Mineral Resource Estimate. The Report is available for review on both SEDAR (www.sedar.com) and the Company's website (www.frontierlithium.com). The Pre-Feasibility Study results are expected to be announced in the coming weeks.

The results from the first two holes of eleven drilled to date on the Bolt pegmatite showing. The Bolt pegmatite is located between the Spark and PAK spodumene-bearing lithium deposits on the PAK Lithium Project and has only been mapped and channeled on surface exposures until now. "The drilling at the Bolt pegmatite showing so far has proven consistency in width and lithium grades beneath the surface channels previously mapped. The Bolt pegmatite appears to be a series of dykes of variable thickness that extend sub-parallel to the main trend of the host mafic metavolcanics and metasediments. The mineralization has been continuous, and we will continue over the next couple months to test the trend towards the PAK deposit 1.2 km to the southeast." states Garth Drever, VP Exploration. 

Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) and Arena Minerals Inc. ("Arena") recently announced the completion of the previously announced plan of arrangement (the "Arrangement") whereby Lithium Americas has acquired all of the issued and outstanding common shares of Arena. Arena owns 65% of the Sal de la Puna project covering approximately 13,200 hectares of the Pastos Grandes basin located in Salta, Argentina.

"With the completion of the acquisition, we have taken a big step towards consolidating the Pastos Grandes basin," said John Kanellitsas, Vice Chairman of Lithium Americas. "While our focus remains on near-term startup of production at Caucharí-Olaroz, the addition of Arena provides increased flexibility as we continue to advance our growth plans in Argentina."

American Lithium Corp. (NASDAQ: AMLI) (TSX-V: LI) recently announced receipt of the first of three permits from Peruvian authorities for drilling near Quelcaya, 5-6 kms west of the Company's Falchani deposit, and drilling will start immediately.

Simon Clarke, CEO of American Lithium states, "This is a very significant development for the Company which validates recent supportive comments from the new government in Peru and enables us to target the discovery of new lithium mineralization on some of the best previously identified targets on the Macusani Plateau. With momentum building, the Company continues to advance its projects in Peru and Nevada with PFS work being fast-tracked on both of our large-scale lithium projects."

Standard Lithium Ltd. (NYSE American: SLI) (TSXV: SLI), a leading near-commercial lithium company, recently announced that, as part of the resource definition work at its South West Arkansas Project (see news release dated 20^th March 2023) it has sampled, to the best of its knowledge, the highest confirmed lithium grade brine in Arkansas, with a grade of 581 mg/L. These sampling data follow similar high-grade results from the Company's resources in Texas (see news release dated 28^thMarch 2023).

Dr. Andy Robinson, President and COO of Standard Lithium commented, "We continue to be very pleasantly surprised by the lithium grades sampled from our projects in Arkansas and Texas. We previously developed the Preliminary Economic Assessment (PEA) for the SWA Project using a conservative assessment of the lithium brine grades across the project area. Using that conservative resource basis still yielded a PEA with very attractive project economics (after-tax NPV US$1.97 Billion and IRR of 32% at 8% discount rate; see news release dated 12th October 2021). This recent infill drilling work to further define the lithium resource has resulted in a marked upside to the in-situ lithium grade.

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