- Demand for lithium expected to increase by over 300 percent by 2025
- Standard Lithium has a strong technical team to process established reserves
- The company is exploring other potentially highly lucrative reserves
On the back of the growing global demand for cleaner energy, lithium producers are leading the way by providing the essential element for batteries in electric cars. Fortune magazine reports that the production of electric cars will increase by almost three percent by 2020 and 10 percent by 2025 (http://nnw.fm/Rj84u). The demand for lithium is set to increase by more than 300 percent over the next eight years, prompting lithium mining companies to step up their efforts for a leading position on the market. Already a prominent lithium developer, Vancouver-based energy exploration and development company Standard Lithium Ltd. (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) is expanding its operations and recently announced an expansion of its lithium brine project in California.
The company announced on December 11, 2017, that it has installed six new separate evaporation ponds at its Bristol Dry Lake property in the Mojave Desert of California. Standard Lithium is taking advantage of the region’s record-high evaporation rates to pre-concentrate brines produced from the project, from where it will be shipped to the company’s testing and processing facilities located at three campuses across North America. In addition, Standard Lithium is undertaking drilling work with four exploration boreholes completed and two more planned. Preliminary results equal and exceed historic data, with the full QA and QC results to be released in the first half of 2018.
The Bristol Dry Lake project covers an area of over 33,000 acres including both patented and placer mineral claims and private property. Recently acquired geophysical data indicates that the basin is deep and expansive. Historical drill samples have shown lithium contents of over 100mg/l over the drilled interval. Bristol Dry Lake is an established mining area with world class infrastructure at the project, paved road and rail access, water and electricity. Standard Lithium has inked agreements with two of the established brine producers in the region, National Chloride Corporation of America and TETRA Technologies (NYSE: TTI), to explore and develop the area for potential lithium production. Under the agreements, the company can conduct exploration, brine sampling, extraction, evaporation and process testing.
Standard Lithium has brought together a strong team of scientists and process engineers to advance the project by applying a hybrid approach, utilizing both conventional and modern extraction processes. With a focus on producing high-quality lithium at low cost to meet global demand, Standard Lithium’s mission is to develop lithium resources that can be brought into production quickly while minimizing project and process risks.
Standard Lithium has also entered into an agreement to explore the highly promising brines over an area of approximately 30,000 acres in the Smackover Formation, which transverses Texas, Arkansas and Louisiana. This offers a low-risk investment with good potential returns in a region with well understood geology. It also has a long history of brine production and the infrastructure for profitable mineral extraction. Historical analysis of the Arkansas Smackover Fromation showed a lithium content of 365mg/l.
Lithium is set to become a highly valuable commodity as the world turns to vehicles driven by electric batteries instead of fossil fuels and, also, with the exponential increase in the use of mobile devices. As the global demand for lithium takes off, producers around the world are expected to have a hard time keeping up, resulting in a market deficit. Standard Lithium has secured reserves to process and will continue to develop other opportunities to meet worldwide demand.
For more information, visit the company’s website at www.StandardLithium.com
More from NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication 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 please visit https://www.NetworkNewsWire.com