Severe Shortage of Lithium Could Put the Brakes on Electric ...| MENAFN.COM

Wednesday, 06 July 2022 07:49 GMT

Severe Shortage of Lithium Could Put the Brakes on Electric Vehicle Boom


(MENAFN- Baystreet.ca) Severe Shortage of Lithium Could Put the Brakes on Electric Vehicle Boom

The world is desperate for lithium supply. In fact, according to CNBC,“Electric vehicle growth will be responsible for more than 90% of demand for lithium by 2030, according to Benchmark Mineral Intelligence. But lithium is also in our phones, computers, ceramics, lubricants, pharmaceuticals, and is essential for solar and wind energy storage.” There's just one problem. At the moment, there's far more demand for lithium than supply, which would explain why lithium prices are up about 280% over the last year. Even the IEA just warned,“The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet's climate targets are to be met. At least 30 times as much lithium, nickel and other key minerals may be required by the electric car industry by 2040 to meet global climate targets.” Fortunately, there are companies that may be able to help, including Scotch Creek Ventures Inc. (CSE:SCV)(OTC:SCVFF), Ameriwest Lithium Inc. (CSE:AWLI)(OTC:AWLIF), American Lithium Corp. (TSXV:LI)(OTC:LIACF), Albemarle Corp. (NYSE:ALB), Lithium Americas Corp. (NYSE:LAC).

Look at Scotch Creek Ventures Inc. (CSE:SCV)(OTC:SCVFF) For Example

Scotch Creek Ventures Inc. announced that the Company has acquired, through staking, an additional 159 lode claims, totaling 3,180 acres on its Macallan East project to complement its existing placer claims for the upcoming drill program.

Scotch Creek Ventures' Geologist, Mr. Robert D. Marvin, commented,“I am looking forward to the upcoming core drilling program on the Macallan project, as Scotch Creek looks to put the first exploration holes into the Southeast Clayton Bench.”

Macallan East Geology

The Macallan East project is located on the Southeast side of the Southern Clayton Valley. The claim block sits directly on trend with outcropping, lithium mineralized, volcanic ash-rich, basin lakebed sedimentary rocks which project towards the project area from the NNE. The projected presence of these mineralized units in the subsurface at Macallan strongly suggests that porous ash units, associated with these rocks elsewhere in the basin, should exist below the surface on the claims.

In addition, Mr. Marvin, stated,“The Southeast Clayton Valley Bench is dominated by uplifted, lacustrine sedimentary units of the Esmeralda Formation, and represents an under-explored subsurface for either lithium brine, or claystone hosted lithium resources. Our knowledge of the Macallan property has positively evolved resulting in the additional lode staking, to cover both the potential to discover lithium brine and or lithium-bearing clays. The Macallan Project indicates strong potential areas for the SE Clayton Bench.”

Other related developments from around the markets include:

Ameriwest Lithium Inc., a North American lithium exploration and development company, is pleased to provide the following exploration update on its Nevada Properties . As announced by press release dated November 3, 2021, Ameriwest acquired seismic data for its 9,097-acre RRV property. A total of 26.7 line-miles of data was acquired from Seismic Exchange Inc. and Ameriwest retained Castillo Geophysical Limited and Legg Geophysical Inc. to reprocess and analyze the data. Results from the re-interpretation of the historic seismic data exceeded expectations. The interpretation showed the valley floor, sedimentary strata, faults, and, in combination with recently acquired MT data, the location and geologic explanation of potential brine on the claim block. The data indicates a potential brine reservoir at a depth of approximately 2,000 ft to 4,000 ft below surface.

American Lithium Corp. announced that the Bureau of Land Management and the Nevada Division of Environmental Protection have approved the Plan of Operations and Reclamation Plan for the next phases of development and exploration work at the Company's Tonopah Lithium Claims Project located near Tonopah, Nevada. Simon Clarke, CEO of American Lithium states , “We are extremely pleased to have the TLC Plan of Operations and Reclamation Permit approved and the finalization of our BLM and NDEP permits. We would like to thank our team and key advisors on the ground, and BLM and NDEP for their efforts throughout the process. This is a big step for the company and enables the launch of a major development program which we believe will provide all the data / results needed to move quickly from a robust, maiden PEA and into the pre-feasibility / feasibility phase on our core TLC Project.”

Albemarle Corp., a leader in the global specialty chemicals industry, announced a price increase for Catalysts global business unit customers . These price increases are effective immediately, or as contracts allow. Albemarle and its suppliers are continuing to see unprecedented increases worldwide in energy costs (gas and electricity) and for key raw materials that are critical to manufacturing our performance products. Several factors are impacting an increase in the cost of energy and key raw materials, some of which may be temporary. Examples include the increased energy costs in Europe due to a winter shortage, the up-to-40% increase in the costs of industrial metals, and the acute tightness in chlor alkali markets. Albemarle continues to monitor the energy and commodities markets accordingly. 'Albemarle remains committed to delivering value to our customers with no interruptions to supply,' said Raphael Crawford, President, Catalysts global business unit. 'Our intent is to cover the increased costs we are experiencing through productivity gains and price adjustments for our products and services, and to flex with the market over the coming months.'

Lithium Americas Corp. announced that on November 24, 2021 the Company purchased 23,369,003 common shares of Arena Minerals Inc. at a price of C$0.54 per share through an alternative market transaction for aggregate consideration of approximately US$10 million (the“ Purchase ”). The Arena Shares represent 6.3% of the issued and outstanding common shares of Arena Minerals as of close of market on November 24, 2021. Prior to the Purchase, Lithium Americas beneficially owned 42,857,143 common shares, representing approximately 11.6% of Arena Mineral's issued and outstanding share capital on a non-diluted basis, and 21,428,571 share purchase warrants.

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 Scotch Creek Ventures Inc. by Scotch Creek Ventures Inc. We own ZERO shares of Scotch Creek Ventures Inc. Please click here for full disclaimer.

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