Palm Beach, FL – February 9, 2023 – FinancialNewsMedia.com News Commentary – Lithium is a highly efficient energy storage medium used in virtually all batteries currently powering electric vehicles as well as consumer electronics. Today, lithium is one of the most important minerals when it comes to the production of electric vehicles. Lithium-ion batteries are light, powerful and take less space than other battery types. Tesla, Panasonic and other car manufacturers in the global lithium mining market are betting big on this mineral. In 2021 alone, global lithium production was 100,000 metric tons. By 2025, that number is projected to increase to 200,000 million tons. The global energy transition marathon and its demand for electric vehicles sent lithium demand into overdrive in 2022. Prices for the energy-savvy metal surged around the world over the past year, dragging lithium stocks on a bumpy ride. Now, analysts are reporting some more bearish views for 2023.  A recent report from SkyQuest projected that the Global Lithium mining market, which was valued at USD 340 Million in 2021, is expected to reach a value of USD 494.59 Million by 2028, at a CAGR of 5.5% over the forecast period (2022-2028) and that the US Lithium Mining Market is poised to grow at a sustainable CAGR for the next forecast year.  It continued saying that there is a growing demand for lithium around the world. “As more carmakers move away from traditional battery types and toward electric vehicles, they will need more lithium-ion batteries in order to power their vehicles.”  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), Rock Tech Lithium Inc. (OTCQX: RCKTF) (TSX-V: RCK).

“Global lithium mining market is forecast to grow significantly in the next decade thanks to increased demand from automotive and battery industries. The strong growth is expected to be driven by several factors, including increasing demand for electric vehicles and growing awareness of the importance of sustainable energy sources. In addition, technological innovations such as new production methods and cheaper batteries are expected to promote the development of the lithium market. The rise of electric vehicles is likely to have the most significant impact on the lithium market. The increasing popularity of EVs is likely to result in a large increase in demand for lithium-ion batteries, which are key components in these vehicles.”

Century Lithium Corp. (OTCQX: CYDVF) (TSXV: LCE) BREAKING NEWS:  CENTURY LITHIUM AND KOCH TECHNOLOGY SOLUTIONS COLLABORATE ON Li-Pro PROCESS FOR COMMERCIAL DIRECT LITHIUM EXTRACTION – Century Lithium Corp. (Frankfurt: C1Z1) (“Century Lithium” or “the Company”) is pleased to announce its collaboration with Koch Technology Solutions (“KTS”), a Koch Engineered Solutions (“KES”) company, in the application of the Li-Pro process for direct lithium extraction (“DLE”) at Century Lithium’s Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada, USA.

“Century Lithium’s collaboration with KTS and KES has been productive, and we look forward to working together as we broaden our relationship,” said Bill Willoughby, President & CEO of Century Lithium. “Our DLE process in the Pilot Plant is performing very well and we are excited to work with Koch as we advance the Project.”

In March 2022, Century Lithium purchased a license to the Lionex DLE process (“Lionex”), which KTS subsequently acquired Lionex and integrated it into their Li-Pro process. Through an agreement completed February 6, 2023, the companies will work together to evaluate the added features of Li-Pro at Century Lithium’s Pilot Plant. With the information obtained, KTS will provide engineering for a full-scale deployment of the Li-Pro process for Century Lithium’s Clayton Valley Lithium Project (“Project”) located in Esmeralda County, in west-central Nevada.

“Century Lithium has done a great job identifying and validating a world-class lithium resource,” said Adam Sackett, President of Koch Technology Solutions. “As the energy transformation accelerates, we are excited to collaborate with them on the path to commercializing Li-Pro technology with our expanding set of complementary capabilities.”

As part of the program, certain key components of the Li-Pro process will be tested at Century Lithium’s Pilot Plant. KTS will also provide engineering design and costs for the full-scale DLE portion of the processing plant for Century Lithium’s Project. This program is independent from the Project’s ongoing Feasibility Study and will begin upon delivery of KTS equipment to the Pilot Plant. Century Lithium will fund the study, installation, and operation of the equipment at the Pilot Plant, and KTS will provide training and technical support.  CONTINUED…  Read this full release for Century Lithium at:  https://centurylithium.com/news/

Other recent developments in the markets include:

General Motors Co. (GM) and Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) recently announced they will jointly invest to develop the Thacker Pass mine in Nevada, which is the largest known source of lithium in the United States and the third largest in the world.

Under the agreement, GM will make a $650 millionequity investment in Lithium Americas, which represents the largest-ever investment by an automaker to produce battery raw materials. Lithium Americas estimates the lithium extracted and processed from the project can support production of up to 1 million EVs per year.

Lithium carbonate from Thacker Pass will be used in GM’s proprietary Ultium battery cells. Lithium is a key material in lithium-ion batteries and stands up well to repeated charging and discharging (including enabling fast charging), delivers higher energy density, and offers more usable capacity than other battery types.

Standard Lithium Ltd. (TSXV: SLI) (NYSE American: SLI), a leading near-commercial lithium company, recently announced  that the United States Patent and Trademark Office (“USPTO”) has issued a Notice of Allowance for Standard Lithium’s third U.S. patent application serial no. 16/895,783 titled “Process for Recovering Lithium from Brines”, This third U.S. patent application is in addition to Standard Lithium’s other two U.S. patent applications for which Notices of Allowance have been earlier issued by the USPTO (U.S. patent applications serial no.16/410,523 and serial no. 16/224/463, both also titled “Process for Recovering Lithium from Brines” see news release November 1, 2022). These three U.S. patent applications comprise a portion of Standard Lithium’s novel and proprietary technique for continuous Direct Lithium Extraction (DLE) from lithium brines.

A Notice of Allowance is issued by the USPTO after examination of a patent application and a determination that a patent should be granted from the application. Standard Lithium anticipates the issue of the formal registration of this third U.S. patent application in the coming months.

American Lithium Corp. (NASDAQ:AMLI)  (TSX-V:LI) recently provided operating and financial highlights for the third-quarter ending November 30, 2022. Unless otherwise stated, all amounts presented are in Canadian dollars.

“During the quarter, the Company made strong progress and delivered on several key milestones,” stated Simon Clarke, CEO of American Lithium. “Successful drilling at TLC allowed us to deliver new and expanded resources, forming the foundation for the Company’s maiden PEA announced yesterday.”  During the Quarter: Positive drill results at TLC – continued to receive strong drill results from its 2022 drill program as it intersected high grade sections at TLC; Board Appointment – addition of Carsten Korch to the Board of Directors as an independent director based in Lima, Peru.

Rock Tech Lithium Inc. (OTCQX: RCKTF) (TSXV: RCK) recently announced positive assay results of a summer exploration program that identified three new spodumene-pegmatite prospects. The program was completed in the summer of 2022 at its 100%-owned Georgia Lake Lithium project in the Thunder Bay Mining District of Ontario (the “Georgia Lake Project”).

Rock Tech is pleased to announce positive assay results of outcrop samples collected at its 100%-owned Georgia Lake project. The Georgia Lake Project, located between Nipigon and Beardmore, Ontario is comprised of 1,042 hectares of mineral leases and 5,686 hectares of mineral claims. The samples were collected during an extensive field exploration program that was completed between July and September of 2022. Work included prospecting and mapping of spodumene-bearing pegmatites in areas both proximal to known deposits and in under-explored areas at the Georgia Lake property.

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, 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 any company mentioned herein.  FNM and its affiliated companies are a news dissemination 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’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult =a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated twenty six hundred dollars for news coverage of the current press releases issued by Century Lithium Corp. by a non-affiliated third party.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking 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 company’s 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.

Contact Information:

Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

SOURCE:   FinancialNewsMedia.com

The post US Lithium Mining Market Poised To Grow At A Sustainable This Year as Lithium Demand Skyrockets appeared first on Financial News Media.