Palm Beach, FL – October 11, 2022 – FinancialNewsMedia.com News Commentary – Lithium — the lightest metal on Earth — was discovered by Swedish chemist Johan August Arfwedson more than 200 years ago. Since then, lithium and its compounds have been used in everything from psychiatric medicine to lubricating grease, but interest in lithium has exploded in recent years because of its use in rechargeable batteries for electric and hybrid cars, lawnmowers, power tools and more. Lithium batteries also power laptops and cell phones. An article in ABCNews said that the race is on to produce more lithium in the United States and the U.S. will need far more lithium to achieve its clean energy goals — and the industry that mines, extracts and processes the chemical element is poised to grow… The element is critical to development of rechargeable lithium-ion batteries that are seen as key to reducing climate-changing carbon emissions created by cars and other forms of transportation. It said that the United States will need far more lithium to achieve its clean energy goals, and the industry that mines the chemical element is poised to grow. It added that: “Worldwide demand for lithium was about 350,000 tons (317,517 metric tons) in 2020, but industry estimates project demand will be up to six times greater by 2030. New and potential lithium mining and extracting projects are in various stages of development in states including Maine, North Carolina, California and Nevada. “Nobody really foresaw this huge spike in demand,” said (an industry executive)… “We owned the lithium space for a long time, and we forfeited it to China.” Another executive added: “A domestic source has tremendous value. Then we can do things that only China is doing with production“; and yet another executive said: “The country’s lithium reserves rank among the largest in the world.” Active mining companies in the markets this week include Clear Sky Lithium Corp. (OTCPK: CSKYF) (CSE: POWR), Piedmont Lithium (NASDAQ: PLL), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), Livent Corporation (NYSE: LTHM), SIGMA Lithium Corporation (NASDAQ: SGML) (TSX-V: SGML).
The article continued: “Much of the world’s lithium comes from South America and Australia, and China dominates the worldwide supply chain for lithium-ion batteries. The U.S. produces less than 2% of the world’s supply of lithium, although it has about 4% of the reserves. The largest reserves in the world are in Chile. The Biden administration has made a plan for half a million charging stations for electric vehicles a signature piece of its infrastructure goals. That effort, and the growth of electric vehicle companies such as Tesla, will require much more lithium to make batteries. (Executives) said there will likely be more U.S. attempts to extract lithium because of the rising demand. “It has been a small industry and it has grown quickly,” he said. “I do expect larger companies to enter the space via acquisitions or other means.”
Clear Sky Lithium Corp. (OTCPK: CSKYF) (CSE: POWR) BREAKING NEWS: Clear Sky Initiates Claystone Study – Lab Engaged to Sample Testing – Clear Sky Lithium Corp. (“Clear Sky” or the “Company”), a mineral exploration and development company focused on American lithium deposits to support domestic demand, has engaged Activation Labs (ActLabs) to perform analysis to determine the types of claystone present at our properties.
A specialist in geochemical and geo-metallurgical testing, ActLabs of Ancaster, Ontario will initially be processing four (4) samples from the Clear Sky ELi property. These samples, previously announced on, August 26, 2022, contain lithium concentrations up to 1,023ppm of Li. Using X-Ray Diffraction (XRD) Mineral identification (Rietvelt), ActLabs will determine the relative abundance of clay minerals. This analysis is known as speciation. The output of this study will be used in the future metallurgy work and is key for the toolbox approach that consists of a variety of exploration and processing techniques.
Company CEO, Patrick Morris, notes, “We believe unlocking claystone lithium processing is the key to an American domestic supply of lithium. As Clear Sky works towards that goal, a thorough understanding of the type of claystone we have in our projects will be part our efforts to focus on the most efficient technologies to bring our project forward. I am pleased with the effort and speed at which our team is progressing. This work forms the solid technical foundation to build on.” CONTINUED… Read this full press release and more news for Clear Sky Lithium at: https://www.financialnewsmedia.com/news-powr/
Other recent developments in the mining industry of note include:
Piedmont Lithium (NASDAQ: PLL), a leading global developer of lithium resources critical to the U.S. electric vehicle (“EV”) supply chain, recently announced that Sayona Quebec, owned 75% by Sayona Mining (“Sayona”) (ASX: SYA) and 25% by Piedmont, has launched a prefeasibility study (“PFS”) for lithium carbonate production at its North American Lithium (“NAL”) operation in Quebec.
The study will evaluate potential completion and restart of the lithium carbonate plant at NAL. The operations at NAL feature about 50% of the facilities needed to produce lithium carbonate, which were partially constructed by prior owners of the NAL operation. Sayona Quebec expects results of the PFS in H1 2023. Further evaluation of the production of lithium carbonate or lithium hydroxide in Quebec may follow completion of the PFS study.
SIGMA Lithium Corporation (NASDAQ: SGML) (TSXV: SGML), dedicated to powering the next generation of electric vehicles with environmentally sustainable and high-purity lithium, recently provided a corporate update from a transformative second quarter of 2022.
Sigma Lithium ended the quarter with C$123.3 million in cash and cash equivalents as of June 30, 2022, providing sufficient liquidity to advance the Grota do Cirilo Project (the “Project”) into production. Phase 1 construction at the Project remains on track with commissioning expected to begin December 2022.
Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) recently announced it has entered a Strategic Collaboration Agreement (“Collaboration Agreement”) with Green Technology Metals Ltd. (GT1) (“GT1”) to advance a common goal of developing an integrated lithium chemical supply chain in North America.
HIGHLIGHTS WERE: Collaboration Agreement executed with GT1, a North American focused lithium exploration and development company with hard rock spodumene assets in north-west Ontario, Canada; Builds upon Lithium Americas’ previous strategic equity investment in GT1 of US$10 million and established collaboration framework; Provides non-exclusive rights to undertake collaborative activities between the two parties; and Establishes a Strategic Management Committee for further joint exploration and development opportunities with focus on Canada and the U.S.
Livent Corporation (NYSE: LTHM) recently announced it will release its third quarter 2022 earnings on Tuesday, November 1, 2022, after stock market close via PR Newswire and the company’s website at: http://www.livent.com.
The company will subsequently host a webcast conference call on Tuesday, November 1, 2022, at 4:30 p.m. ET that is open to the public via Internet broadcast and conference call.
Internet broadcast: http://www.livent.com / Dial-in telephone numbers: U.S. / Canada: (888) 330-2454; International: (240) 789-2714; and Conference ID # 4348515 – A replay of the call will be available via the Internet and telephone from November 1, 2022 until November 15, 2022.
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