PALM BEACH, Florida, January 26, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Since 2017, the lithium and cobalt industries have gone through several positive changes while auto manufacturers commit to the production electric and plug-in hybrid vehicles. These commitments from several manufacturers have activated the battery supply chain from lithium extraction and exploration to battery cell and module manufacturing. In addition, secondary applications for lithium batteries, such as smartphones, electronics as well as innovative energy storage, continue to make incredible strides and advancements. 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. Today's active miners in the market include: NRG Metals Inc. (OTC: NRGMF) (TSX-V: NGZ), Sociedad Quimica y Minera de Chile (NYSE: SQM), Lithium Americas Corp. (TSX: LAC) (OTC: LACDF), Lithium X Energy Corp. (TSX-V: LIX) (OTC: LIXXF), eCobalt Solutions Inc. (TSX: ECS) (OTC: ECSIF).
NRG Metals Inc. (OTC: NRGMF) (TSX-V: NGZ) is pleased to announce the results of a recent sampling program at the Company's 3,237 hectare Hombre Muerto Norte lithium project in Salta Province, Argentina. The results are summarized in a table that can be seen at: http://www.marketnewsupdates.com/news/nrg.html
Jose de Castro, COO of NRG, commented: "We are delighted by the by the high lithium values and the favorable low Mg/Li ratios at Hombre Muerto Norte. NRG recently obtained permits from the provincial government of Salta for drilling and construction of evaporation test ponds, and the Company expects to award a drilling contract and commence construction of the test ponds shortly."
The Hombre Muerto Norte project is located at the northern end of the prolific Hombre Muerto Salar, adjacent to FMC's producing Fenix lithium mine and Galaxy Resources' Sal de Vida development stage project. The Fenix mine is the largest producing lithium mine in Argentina, and the Sal de Vida project is the largest development stage lithium project in Argentina.
The sampling was conducted during the second week of January and supervised by Mark Rosko of Montgomery & Associates of Santiago, Chile. Mr. Rosko is a Qualified Person under National Instrument 43-101. Measurements in the field included pH, conductivity, temperature and density, and the field measurements were consistent with the same measurements made in the laboratory. The samples were analyzed by the Alex Stewart laboratory in Jujuy, Argentina. Alex Stewart employed Inductively Coupled Plasma Optical Emission Spectrometry ("ICP-OES") as the analytical technique for the primary constituents of interest, including those shown in the table. Alex Stewart maintains a strict internal QA/QC program employing multiple standards, re-analyses by AA and calculation of ionic balances. Mr. Rosko introduced blanks and duplicate samples for QA/QC, and all QA/QC results corroborate the analyses reported in this press release. As reported in the Company's 43-101 Technical Report dated October 2017, CSAMT geophysical data (controlled source audio-frequency magneto-tellurics) suggests that the brine zone may extend to considerable depth, as illustrated on the following cross section that extends from the Alba Sabrina property on the west to the Tramo property on the east. Read this entire release and additional NRG Metals news at: http://www.marketnewsupdates.com/news/nrg.html
In other mining industry news and developments:
In a recent article published by ShareCafe.com, Sociedad Quimica y Minera de Chile (NYSE: SQM) recently said it had resolved a long-running dispute with Chile,by reaching agreement to expand production to meet demand from electric cars. SQM said it would pay $17.5m to Chilean regulator Corfo and agree to pay royalties linked to the price of lithium to settle the dispute, which has hampered its ability to expand over the past three years. In return SQM will be able to produce an extra 349,553 tonnes of lithium until 2030 from the Atacama desert.
Lithium Americas Corp. (TSX: LAC) (OTCQB: LACDF) has provided the following update on its New York Stock Exchange listing and certain corporate developments. Highlights: - Lithium Americas has received approval for the listing of its common shares on the NYSE, which are expected to begin trading on the NYSE under the symbol LAC on Jan. 25, 2018. - The Cauchari-Olaroz pond layout and design have been completed with the pond contractor mobilized at site and production pond construction scheduled to start in the coming weeks. - Minera Exar currently has over 400 employees and contractors working in Argentina. - Minera Exar has reviewed the development schedule for Cauchari-Olaroz and expects first production to commence in 2020. - Lithium Americas continues to advance the preliminary feasibility study (PFS) for Lithium Nevada as planned, with the 2017 exploration drill program completed on time and budget.
Lithium X Energy Corp. (TSX-V: LIX) (OTCQB: LIXXF) announced this month it has filed on SEDAR and mailed to Lithium X shareholders and warrant holders the notice of special meeting, management information circular, letter of transmittal and related proxy materials in respect of the company's special meeting of shareholders and warrant holders to be held at 10 a.m. Vancouver time on Feb. 6, 2018, at Suite 1700, 666 Burrard St., Vancouver, B.C., V6C 2X8. At the special meeting, shareholders and warran tholders will be asked to approve the company's previously announced transaction with NextView New Energy Lion Hong Kong Ltd., whereby NextView will acquire all of the issued and outstanding common shares and common share purchase warrants of Lithium X by way of plan of arrangement under Section 288 of the Business Corporations Act (British Columbia), as described in the news release of Dec. 18, 2017, filed on Lithium X's SEDAR profile. Upon the arrangement becoming effective, each shareholder will receive cash consideration of $2.61 per share and each warran tholder will receive cash consideration of one cent per warrant.
eCobalt Solutions Inc. (TSX: ECS) (OTCQB: ECSIF) recently announced it has made significant progress in identifying strategic offtake partners for its clean cobalt concentrate. The company has signed multiple letters of intent (the LOIs) with reputable firms across different markets and cobalt supply chains. Due diligence is currently in progress as the company works toward negotiating definitive terms in parallel with continued advancement of the Idaho cobalt project (ICP). With rapidly growing market demand, eCobalt's clean cobalt product has garnered a significant amount of interest providing further support for the company's decision to produce a cobalt concentrate from the ICP. The ICP is the only environmentally permitted, near-term primary cobalt deposit in the United States, positioning eCobalt to capitalize on the strengthening fundamentals of the cobalt market.
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