FN Media Group Presents USA News Group News Commentary
Vancouver, BC - January 5, 2024 USA News Group A worrying trend that could threaten the world's shift to renewable energy is looming, according to 2023 analysis from Benchmark. In the report, Benchmark called for an increase of at least $514 billion across the global battery industry supply chain to meet expected demand in 2030, and $920 billion by 2035. Among the most compelling sources set to help meet the lithium gap is set come from what's known as the Lithium Triangle, which covers portions of Argentina, Bolivia, and Chile. The prominence of South America's lithium has created an increasing amount of competition between the West and China. Hence the flooding of investment and development coming from several promising projects in the region, including from Lithium South Development Corporation (TSXV:LIS) (OTCQB:LISMF), Allkem Limited (TSX:AKE) (OTCPK:OROCF), Livent Corporation (NYSE:LTHM), POSCO Holdings Inc. (NYSE:PKX), and Rio Tinto Group (NYSE:RIO).
In Salta Province, Argentina, Lithium South Development Corporation (TSXV:LIS) (OTCQB:LISMF) is the 100% owner of the Hombre Muerto North Lithium project (HMN Li Project), strategically positioned within the renowned Lithium Triangle. Recent developments indicate the project is now becoming a lithium mine development. The land package is strategically located adjacent to a massive $4-billion lithium venture by the Korean conglomerate POSCO Holdings Inc. (NYSE:PKX) and in close proximity to the Sal de Vida Project currently in development by the soon-to-be merged Allkem Limited (TSX:AKE) (OTC:OROCF) and Livent Corporation (NYSE:LTHM).
Ramping up the HMN Li story further, Lithium South recently submitted a new technical report under NI 43-101 standards, revealing a remarkable 175% increase in lithium resources, totaling more than 1.58 million tonnes of lithium carbonate equivalent (LCE) according to its latest Updated Mineral Resource Estimate Hombre Muerto North Project, NI 43-101 Technical Report Catamarca and Salta, Argentina, Mark King, PhD, PGeo, Peter Ehren, M.Sc, MAusIMM, with an effective date of September 5th, 2023,
Furthermore, the report outlines their innovative approach to extract more lithium from the briny water at the HMN Li Project. Lithium South employs a proven industry method involving the evaporation of pumped lithium brine. They have implemented specific modifications to ensure minimal lithium loss during the collection of the resulting solid materials. Evaporation extraction takes advantage of the amazing free solar resource at the altitude of the project, which is about 15,000 feet. This minimizes the carbon footprint of the project.
We are very pleased with the substantial upgrade in our LCE Resource at the HMN Li Project and are excited to potentially achieve much higher lithium recoveries," said Adrian F. C. Hobkirk, President and CEO of Lithium South. "We await the completion of our updated Preliminary Economic Assessment (PEA) which will further evaluate our newly defined, high quality lithium brine resource.
Up to this point, it appears that Lithium South has improved its ability to extract approximately 70% of the lithium from the briny water, a notable increase from the previous 50%. This signifies a more efficient extraction process, bringing increased viability the project.
Taking into account the current market conditions and pricing for lithium carbonate equivalent (LCE), Lithium South has projected an Initial Design Capacity (IDC) for the project, aiming for an annual production of 15,000 tonnes of LCE. The company is already making progress with the projects well testing, having successfully installed the third production well, drilled to a depth of 60 meters. A pump test is scheduled to commence immediately upon finalizing the wells development. A second 400 meter production well is now being installed.
In the lead-up to one of the lithium sector's biggest mergers, Allkem Limited (TSX:AKE) (OTC:OROCF) and Livent Corporation (NYSE:LTHM) have already received the required regulatory approval to seal the deal. The prospect of the merger has already caused Allkem's value to skyrocket within the last few months. Together the new entity--to be called Arcadium Lithium-- is set to be worth more than $10 billion.
Ahead of the merger, Allkem secured financing from the International Finance Corporation (IFC) to provide up to A$180 million for the development of its Sal de Vida project in Argentina.
"We are proud to partner with IFC to ensure long-term safe and sustainable operations, responsible products, and thriving communities," said Allkem MD and CEO Martin Perez de Solay. "We are committed to the highest sustainability standards for Sal de Vida so that it will contribute to the economy of Catamarca via local employment, the development of local supply chains, and community development programmes."
The development comes less than 6 months after Allkem achieved its first production at its Olaroz Stage 2 lithium plant.
"We are very proud to have achieved the milestone of first production at Olaroz Stage 2 proving the operational viability of the carbonation process," said Perez de Solay. "The successful expansion of Olaroz reflects our growth strategy and commitment to ensure long-term social and economic sustainability of our business for customers and stakeholders. This achievement demonstrates the expertise of our team who will now focus on completion of commissioning and ramp up to full capacity."
Having completed its lithium hydroxide plant in its home country of South Korea, POSCO Holdings Inc. (NYSE:PKX) will be looking to build a second plant with the same capacity in 2024. Set to stock these plants will be the lithium reserves POSCO acquired for US$280 million back in 2018, where the Korean giant has also committed at least $4 billion, and more recently pledged US$1.7 billion in the provinces of Salta and Catamarca.
"We talked with POSCO about the next stages in its investment in lithium and the opportunities to develop new value-added chains that include Argentina," said Argentine Foreign Minister Santiago Cafiero. "The lithium industry has enormous potential for Argentina and, especially, for the provinces that produce the mineral (Catamarca, Jujuy, and Salta), especially if we consider that Argentina is the country with the largest amount of resources with potential economic value within the so-called Lithium Triangle, which also includes the salt flats in Chile and Bolivia."
For mining giant Rio Tinto Group (NYSE:RIO), building its own lithium mines is seen as better than buying up existing lithium companies.
"We would rather use our competencies to develop the projects ourselves," said Rio Tinto CEO, Jakob Stausholm in an interview with Bloomberg Television. "Lithium companies right now are very expensive. We can believe we can find much cheaper ways to get it done."
Rio Tinto already made a splash in Argentina, back when it completed the acquisition of the Rincon Lithium Project in 2022 for $825 million. By mid-2023, the company had already begun reviewing the $140-million cost estimate and schedule for a starter plant on the project.
"Rincon strengthens our battery materials business and positions Rio Tinto to meet the double-digit growth in demand for lithium over the next decade, at a time when supply is constrained," said Stausholm at the time of the acquisition.
Rio Tinto recognizes the substantial promise of the Rincon project, envisioning it as a sustainable, expandable source capable of generating top-quality lithium carbonate over an extended period. The innovative direct lithium extraction technology under consideration for this project has the potential to substantially enhance lithium recovery rates when compared to traditional solar evaporation ponds.
Source: https://usanewsgroup.com/2023/10/18/the-lithium-race-to-power/
Article Source:
USA News Group
http://USAnewsgroup.com
info@usanewsgroup.com
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Lithium South Development Corporation advertising and digital media from the company directly. There may be 3rd parties who may have shares of Lithium South Development Corporation, and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Lithium South Development Corporation which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Lithium South Development Corporation at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. The contents of this advertisement were reviewed by Mr. William Feyerabend, a Consulting Geologist and Qualified Person as defined under National Instrument 43-101. Mr. Feyerabend approves of the scientific and technical disclosure pertaining to Lithium South contained within this advertisement. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
USA News Group is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein. The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.
This release contains forward-loking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as may, future, plan or planned, will or should, expected, anticipates, draft, eventually or projected. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companys annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact Information:
FN Media Group, LLC
Media Contact e-mail:
editor@financialnewsmedia.com
U.S. Phone: +1(954)345-0611
SOURCE USA News Group
The post Global Battery Industry Faces Significant Investment to Meet Lithium Demand appeared first on Financial News Media.
COMTEX_445899159/2802/2024-01-05T12:46:19