Electric vehicles sales are only set to accelerate. Governments want millions of them on the roads, as of yesterday. President Biden wants 50% of all new U.S. auto sales to be electric by 2030. Europe is targeting 50% EV sales penetration by 2030. In China, about 40%. However, for millions of EVs to hit the roads, the world needs far more lithium supply to keep up with heavy demand. Unfortunately, that’s easier said than done at the moment, as we deal with strong demand and short supply. Even the IEA warns, “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.” That’s a powerful catalyst for companies including 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. announced that Ken Kuiper, former Geospatial Advisor to Mag Silver has been appointed to the Q Battery Metals Senior Advisory Board.
Mr. Kuiper is the founder of Ellis Park Media, a GIS and aerial survey company, focused on catering to the resources industry. Studying Earth Sciences at the University of Western Ontario, Ken gained experience working internationally with several companies, including the United Nations, MAG Silver, and was a key consultant of several acquired companies, including: West Timmons Mining (Sold for $319 M), Northern Empire (Sold for $150 M), Balmoral Resources ($150 M) and Corvus Gold ($375M).
CEO Richard Penn stated, “we are extremely pleased to welcome Ken Kuiper to our advisory board. Critical Minerals are foundational to modern technology and the transition to clean energy. Ken’s experience and insight will be highly valuable as we begin the ramp up for the 2023 exploration season on both our PegaLith and La Corne South Lithium Projects.’’
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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