According to the “Global Lithium Market Outlook” report put together by Goldman Sachs HCID Conference (http://nnw.fm/M0wCq), there are a number of trends driving lithium growth. One of the key reasons lithium has not plummeted like some commodities is the continued growth of electrical devices across the world and the high power they require from lithium-based power units. Lithium is, of course, increasingly used in a number of mobile energy systems, including EVs, producing greater energy with less weight and fewer chemicals. But lithium is also an active pharmaceutical and agro ingredient, and in other applications.
According to the report, the demand for lithium is expected to grow 50% by the year 2020. Some of the reasons driving its market growth include the use of glass and ceramics, grease and lubricants, and chemical synthesis, along with its well-known use in mobile devices, hybrids, electric vehicles, and other grid and power storage applications.
Geographically, the United States is one of the countries benefiting from lithium’s popularity thanks to its mining activities and other reserves. But the U.S. is not the only country making the most of this growing demand. Nemaska Lithium, (OTCXQ: NMKEF) a lithium company based in Quebec, Canada, is in the process of developing an important spodumene hard rock lithium deposit expected to grow to be one of the richest in the world. Production from the mine will be shipped to a plant in Shawinigan, Quebec, before being transformed into one of the purest forms of lithium hydroxide and lithium carbonate. This will then be sold to the expanding lithium battery market and other growing markets.
The initial mine life is expected to be 26 years, and the company has received confirmation for a main patent application on its proprietary process. Nemaska Lithium’s main goal is to become a leading lithium supplier. Phase 1 of the plant should have a combined capacity in the neighborhood of 610 tonnes annually. Since 2015, cash and cash flow for Nemaska Lithium has multiplied by over 400% and total assets are up by more than $15 million, while expenses are down from the previous year.
For more information, visit www.nemaskalithium.com
About NetworkNewsWire
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing network of more than 5,000 key distribution outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, visit www.networknewswire.com.
Please see full disclaimers on the NetworkNewsWire website: http://nnw.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.net
