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Western Leaders Seeking Diverse Lithium Supplies to Reduce Worrisome Dependence on China


News provided by

USA News Group

30 Nov, 2023, 14:00 GMT

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FN Media Group Presents USA News Group News Commentary

VANCOUVER, BC, Nov. 30, 2023 /PRNewswire/ -- USA News Group: US President Joe Biden recently met with Latin American leaders, as part of a broader effort to reduce American dependence on China. The move isn't isolated, after a worrisome research paper was presented to EU leaders urging a dire need to diversify away from China towards Africa and Latin America as demand for lithium-ion batteries and fuel cells balloons by 2030. Industry leaders are taking the need to decouple seriously, with Tesla Inc. (NASDAQ:TSLA) moving ahead on putting its new lithium refinery in Texas online sooner than anticipated, while lithium miners continue development of their new projects, such as those from Lithium South Development Corporation (TSXV:LIS) (OTCQB:LISMF), Alpha Lithium Corporation (NEO:ALLI) (OTCPK:APHLF), Sigma Lithium Corporation (NASDAQ:SGML) (TSXV:SGML), and Piedmont Lithium Inc. (NASDAQ:PLL).

With its flagship asset located in Salta Province, Argentina, Lithium South Development Corporation (TSXV:LIS) (OTCQB:LISMF ) is strategically positioned within the world famous Lithium Triangle. With recent developments at the project, LIS appears to be on the cusp of a breakthrough. Located directly next door to Korean giant Posco's $4-billion lithium project, Lithium South is reporting the installation of the first production well at its HMN Li Project, with a pump test to follow immediately after the hole is cased and screened.

The announcement came swiftly on the heels of a previous announcement from Lithium South, stating that the company is preparing an updated NI 43-101 Preliminary Economic Assessment (PEA), using a newly upgraded Measured resource of 1.58 million tonnes Lithium Carbonate Equivalent (LCE). Taking into consideration current market conditions and pricing for LCE, Lithium South projects that the new report will use an Initial Design Capacity (IDC) of 15,000 tonnes per year LCE production.

The now up-to-date calculation represented a 175% increase through a newly updated NI 43-101 Technical Report in the HMN Li's total lithium brine resource from 571,000 tonnes to 1,583,100 tonnes LCE at an average grade of 736 mg/L, with a low average magnesium (a brine contaminant) to lithium ratio of just 3.27

"We are very pleased with our new updated lithium resource at the HMN Li Project," said Fernando Villarroel, COO and Project Manager for Lithium South. "The quality of the brine has exceeded our expectations."

In addition to the production well's installation, Lithium South is in the process of permitting and conducting evaporation test work.

"We are very excited to be able to increase our total LCE resource by such a wide value," said Adrian F. C. Hobkirk, President and CEO of Lithium South. "With the increase in overall resource, we look forward to developing a larger mining plan."

Also within the Hombre Muertos Salar are properties of Alpha Lithium Corporation (NEO:ALLI) (OTC:APHLF), which recently saw its shareholders agree to sell 67.4% of the company's issued and outstanding shares to Tecpetrol for roughly C$205 million. Prior to the completion of the deal, Alpha Lithium provided a drilling update on two wells on one of its existing properties in Hombre Muerto.

Included in their most recent drilling results, Alpha Lithium reported the first well's average lithium concentration of 784 mg/L, with an average Mg:Li ratio of 2.42, and the second delivering an average lithium concentration of 836 mg/L, with an average Mg:Li ratio of 2.50.

"These results confirm what our world-class exploration team expected all along – that Hombre Muerto is one of the world's finest salars," said Brad Nichol, President and CEO of Alpha.

On the other side of South America, Sigma Lithium Corporation (NASDAQ:SGML) (TSXV:SGML) is another lithium player that has recently updated its lithium resource estimate with an approximately 25% potential increase. At its Grota do Cirilo Lithium Project, Sigma Lithium reported the company had increased the exploration potential of Phase 4 to approximately 26 to 30Mt, adding to the previously released June 2023 NI 43-10 Technical Report which cited a mineral resource estimate comprised of 77.0 Mt of measured and indicated mineral resource grading at 1.43% Li2O and 8.6 Mt of inferred mineral resources grading at 1.43% Li2O.

"Sigma is a current large-scale and low-cost producer but also has mineral resource estimates to potentially surpass 110 million tonnes of open pit deposits," said Ana Cabral, CEO of Sigma Lithium. "This scale underscores our strategic relevance to become the foundation of global supply chains that will deliver the decarbonization of EV batteries."

Beyond Latin America, there's plenty of optimism surrounding potential lithium development in Africa. Despite moving forward on its operations in Canada, Piedmont Lithium Inc. (NASDAQ:PLL) embarked on forging the first link of a lithium supply chain in West Africa—at the Ewoyaa lithium project in Ghana, where the company is the second-largest shareholder of the operator, Atlantic Lithium. As per the current arrangement, Piedmont owns a 9% equity interest in Atlantic Lithium, and has also exercised its option to acquire an initial 22.5% interest in Ewoyaa, subject to government approvals.

"Our investment in Ewoyaa will help alleviate potential future US supply constraints and provide crucial resources to help reduce America's dependence on foreign nations, like China," said Keith Phillips, CEO of Piedmont in an email to Bloomberg.

Atlantic Lithium expects the Ewoyaa permitting process to be finalized in H2 2024, ahead of what's being projected to produce feedstock material for another proposed 30,000 metric ton per year Tennessee-based lithium hydroxide conversion facility. Coupling the impact of work being done in Ghana with new drill results in Canada that could lead to mineral resource upgrade, Piedmont is positioning itself to contribute significantly to the global lithium supply.

Among Piedmont's offtake buyers is Tesla Inc. (NASDAQ:TSLA), which is working to develop its own lithium refining facility on the Gulf Coast of Texas. According to the company's updated timeline, construction is set to be finished next year, with expected production in 2025.

Previously, Tesla confirmed that it planned to invest $365 million in the lithium plant, which would employ about 165 people full-time plus another 250 construction jobs for about two years. The automaker and battery manufacturer announced ground breaking on the project in May, 2023.

"As we look ahead a few years, a fundamental choke point in the advancement of electric vehicles is the availability of battery grade lithium," said Elon Musk, CEO of Tesla at the ground-breaking ceremony. "We intend to continue to use suppliers of lithium, so it's not that Tesla will do all of it."

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.

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 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.

Media Contact Information:
FN Media Group, LLC
Media Contact e-mail:
editor@financialnewsmedia.com 
U.S. Phone: +1(954)345-0611

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