Global demand for lithium batteries could explode by more than five-fold, according to alliance Li-Bridge, as consumer demand for electric vehicles accelerates. In the U.S., according to Reuters, “Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade.” That’s positive news for Q Battery Metals Corp. (CSE: QMET) (OTC: BTKRF), Albemarle Corporation (NYSE: ALB), Lithium Americas (NYSE: LAC) (TSX: LAC), American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI), and Piedmont Lithium (NASDAQ: PLL).
Look at Q Battery Metals Corp. (CSE: QMET) (OTC: BTKRF), For Example
Q Battery Metals Corp. provide their exploration plan for 2023. The company will be concentrating exploration on their lithium projects, in particular the La Corne South Lithium project located north of Val d’Or, Quebec. The exploration work will involve a combination of prospecting, mapping and rock sampling, combined with soil sampling and geophysical surveying. Exploration is slated to begin in April 2023.
Exploration on the La Corne South project will include:
- Prospecting, mapping, rock sampling
- Geophysical ground surveys (resistivity)
- Soil sampling over target features
- Trenching and,
- Diamond drilling best targets
The La Corne South lithium project is located in an area of the Abitibi Greenstone belt of rocks that is host to numerous deposits and mines. In particular, the area around the La Corne Batholith hosts 16 documented lithium showings and two deposits. Nine lithium projects are located within 20 kilometres (km) of the La Corne South project, including North American Lithium (NAL) mine (Sayona Mining-Piedmont Lithium Joint Venture) with associated spodumene concentrator, located 11 km NW of La Corne South. The NAL mine is currently in the process of restarting operations.
Nine km to the north of the La Corne South project, Sayona Mining and Jourdan Resources are planning an extensive diamond drilling program for 2023 to expand the Vallee Lithium deposit (Jourdan news release March 7, 2023).
The Q Battery claims were staked over the La Corne Batholith and contacting volcanic rocks. The claims cover 10 kilometers of the La Corne Batholith contact. The batholith periphery will be the primary focus for lithium exploration in 2023.
Other related developments from around the markets include:
Albemarle Corporation, a global leader in transforming lithium and bromine into essential ingredients for mobility, energy, connectivity and health, signed definitive agreements with Mineral Resources Limited to restructure the parties' MARBL lithium joint venture in Australia and separately for MinRes to invest in Albemarle conversion assets in China. "Our Australian lithium assets are core to Albemarle's strategy to build a globally diversified portfolio of best-in-class assets and resources," said Kent Masters, Albemarle CEO. "Inherent to that strategy is managing our global portfolio to maximize growth optionality and maintain a leading position in a dynamic, growing market. Our restructured MARBL joint venture enables each partner to deliver long-term value to our customers."
Lithium Americas commenced construction at its 100%-owned Thacker Pass lithium project in Humboldt County, Nevada, following the receipt of notice to proceed from the Bureau of Land Management. “Starting construction is a momentous milestone for Thacker Pass and one we have been working towards for over a decade,” said Jonathan Evans, President and CEO. “We are excited about the prospect of generating economic growth in Northern Nevada and playing a major role in the domestic lithium supply chain for electric vehicles.”
American Lithium Corp. has appointed DRA Global as lead engineer to coordinate completion of a Pre-Feasibility Study on the Company’s Falchani Lithium Project in Southern Peru. As part of this process, Stantec Consulting Ltd. will also prepare an updated mineral resource estimate on Falchani which will involve the reclassification of existing resource categories, as well as including new drill data from the recent hydrology drilling which commenced in August 2022. The Company also announces that it has restarted additional hydrology drilling at Falchani, with full support from the local communities. This drilling is part of the Environmental Impact Assessment that was commenced in August 2022.
Piedmont Lithium, announced that it has signed agreements with LG Chem, Ltd., under which LG Chem will make a $75 million equity investment in Piedmont and commit to the offtake of 200,000 metric tons of spodumene concentrate from Piedmont’s jointly-owned North American Lithium over a four-year term. LG Chem will purchase 1,096,535 newly-issued shares of Piedmont common stock at an approximate price of $68.40 per share for a total consideration of $75 million. Closing of the Subscription Agreement is expected on or around February 24, 2023, and will result in LG Chem holding approximately 5.7% of Piedmont common shares. Transaction details are described in the table at the end of this announcement.
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