Lithium demand could go into overdrive, especially with electric vehicle sales set to accelerate. According to the International Energy Agency (IEA), “Global sales of electric cars are set to surge to yet another record this year, expanding their share of the overall car market to close to one-fifth.” In addition, the IEA noted, “The new edition of the IEA’s annual Global Electric Vehicle Outlookshows that more than 10 million electric cars were sold worldwide in 2022 and that sales are expected to grow by another 35% this year to reach 14 million.” That’s all substantial news for lithium-related companies, such as European Energy Metals Corp. (TSXV: FIN) (OTC: EUEMF), Albemarle Corporation (NYSE: ALB), Lithium Americas (NYSE: LAC) (TSX: LAC), Sibanye Stillwater Ltd. (NYSE: SBSW), and Livent Corp. (NYSE: LTHM).
Unfortunately, supply will struggle to keep pace, with lithium an essential component in transitioning to a lower-carbon global economy. According to CarbonCredits.com, “According to market predictions, EVs will make up over 50% of new passenger car sales in the US by 2030. One estimate says that the potential growth of the battery market would need 90 more facilities the size of the Tesla Gigafactory over the next decade.”
Look at European Energy Metals Corp. (TSXV: FIN) (OTC: EUEMF), For Example
European Energy Metals Corp.announced that exploration crews have confirmed the presence of pegmatites at Lappajarvi West, one of the five concessions comprising its 2,300 square kilometre Lithium-Cesium-Tantalum and Rare Earth Element Finnish Pegmatite Project, in central and southern Finland.
As part of the Company's Phase 1 exploration program, exploration crews have visited a number of the pegmatite occurrences noted in the Geological Survey of Finland “GTK” database, confirming the historic locations and also uncovering additional previously unknown pegmatites. Minerals commonly associated with LCT pegmatites1 have been observed in several locations, including: blocky K-feldspar, green muscovite, beryl and tourmaline.
“Our Phase 1 exploration program has yielded encouraging preliminary results with the presence of LCT indicator minerals noted in multiple locations”, commented European Energy Metals CEO Jeremy Poirier. “We are feeling confident our exploration crews can successfully highlight high priority areas for subsequent permitting for Phase II drilling", he continued.
The first series of samples will be shipped to the ALS Minerals geochemical prep lab in Sodankylä, Finland this week. The samples will be analyzed with procedure ME-MS89L, utilizing a sodium peroxide fusion and ALS’s Super Trace ICP-MS methodology. The results will be released once the technical team completes QA/QC reviews.
European Energy Metals cautions investors the presence of LCT indicator minerals in the pegmatites at Lappajärvi West are not necessarily indicative of presence of lithium mineralization.
Pursuant to an earn-in agreement with Capella Minerals Ltd (TSX.V: CMIL)., European Energy has the right to earn an 80% interest in the Finnish Pegmatite Project by issuing 1,750,000 shares, paying Cdn$500,000 and incurring Cdn$2,500,000 dollars in exploration expenditures staged over a 4 year earn in period. A detailed assessment of the historic and government exploration data compiled by the Finnish Geological Survey identified a series of permissive tracts for LCT pegmatites. The concessions comprising the Finnish Pegmatite Project were identified as a result of this pegmatite research.
Other related developments from around the markets include:
Albemarle Corporation, a global leader in providing essential elements for mobility, energy, connectivity and health, announced that it achieved an IRMA 50 level of performance in an independent third-party assessment of its lithium brine extraction and concentration site in the Salar de Atacama, using the Initiative for Responsible Mining Assurance’s (IRMA) comprehensive mining standard. This marks a new milestone for Albemarle, as it is the first lithium producer and only the third mine site globally to complete an independent audit and have its audit report published by IRMA, continuing the company’s commitment to transparent and responsible management of its resources.
Lithium Americas reported that the Caucharí-Olaroz project in Jujuy, Argentina has produced its first lower than battery-quality lithium carbonate as part of commissioning. Additional purification processing equipment necessary to achieve battery-quality lithium carbonate is expected to be completed in the second half of 2023, as planned. “The initial production achieved as part of commissioning is an exciting step as Caucharí-Olaroz continues to advance toward first production of battery-quality lithium carbonate,” said Jonathan Evans, Lithium Americas’ President and CEO. “Our dedicated and skilled teams continue to work diligently to progress this transformative project.”
Sibanye Stillwater Ltd. announced that it has concluded its first power purchase agreement (PPA) and achieved financial close for an 89-megawatt (MW) wind energy project. This clean energy will be generated by the Castle Wind Farm, located near the town of De Aar in the Northern Cape province of South Africa, and will supply the SA operations via a wheeling agreement with Eskom. This will be the largest private wind farm constructed in South Africa to date. Construction of the castle Wind Farm is expected to commence in June 2023 and is scheduled for commercial operation in early 2025. The project consortium consists of African Infrastructure Investment Managers (AIIM), through its renewable energy project development and delivery platform, African Clean Energy Developments (ACED) and Reatile Renewables.
Livent Corp. announced it will release its second quarter 2023 earnings on Thursday, August 3, 2023, after stock market close via PR Newswire and the company's website. The company will subsequently host a webcast conference call on Thursday, August 3, 2023, at 4:30 p.m. ET that is open to the public via Internet broadcast and conference call.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for European Energy Metals Corp. by European Energy Metals Corp.
We own ZERO shares of European Energy Metals Corp.Please click here for full disclaimer.
Contact Information:
Ty Hoffer
Winning Media
281.804.7972
Ty@winning.media
