Demand For Lithium-Ion Batteries Outpacing Supply

According to researchers at, the lithium market continues to experience exponentially rising value as demand for lithium rises rapidly due to the increasing popularity of lithium-ion batteries, largely in part due to the electric vehicle (EV) revolution. Bloomberg New Energy forecasts that we are quickly approaching a time that will see more electric vehicles sold than traditional fossil fuel-powered vehicles, as their projection estimates 54% of all vehicles sold will be electric by the year 2040. Because of this continued growth and rising demand, lithium prices are expected to follow suit and continue rising.


Active companies in the mining markets today include QMC Quantum Minerals Corp., Lithium Americas Corp., Nemaska Lithium Inc., Millennial Lithium Corp., and MGX Minerals Inc. QMC Quantum Minerals has engaged SGS Canada Inc. ("SGS") to provide technical support and consulting services for the company's 2018 field exploration and drilling program at the Irgon Lithium Mine Property, located within the Winnipeg River Pegmatite Field, S.E. Manitoba. SGS will provide an experienced team of engineers and geoscientists with significant technical expertise pertaining to lithium pegmatite exploration and development, who will review existing documents and geological modeling of the historical data and will provide guidance to QMC on the upcoming 2018 field program and drilling campaign.

Free Newsletter

Like this article? Subscribe to FierceSensors!

The sensors industry is constantly changing as innovation runs the market’s trends. FierceSensors subscribers rely on our suite of newsletters as their must-read source for the latest news, developments and analysis impacting their world. Register today to get sensors news and updates delivered right to your inbox.


The data acquired through the 2018 exploration program recommended by SGS will be used by SGS to compile a NI43-101 compliant technical report, which is expected to confirm and potentially increase the non-NI43-101 compliant historical reported resource of 1.2 million tons of 1.51% Li2O within the Irgon Dike. In addition, the technical report will provide an estimate on the size of the other spodumene-bearing pegmatite dikes currently identified on the Irgon Lithium Mine Property, such as the Mapetre and the Central pegmatite dikes.

For more details, visit MarketNewsUpdates.

Suggested Articles

IP theft and technology transfer are key components of eight-part deal

According to a Gartner report, global semiconductor revenue totaled $418.3 billion in 2019, down 11.9% from 2018.

3D printed prosthetic arm has Arm M4 processor inside on board built by Particle