CORAL SPRINGS, FL -- While oil and other forms of natural resources have had difficulties remaining profitable, lithium is enjoying success as consumers and companies around the globe demand more lithium-based options. Mergers and acquisitions becoming more common in active and steadily growing lithium market as some experts see no signs of lithium demand slowing down any time soon.
In Lithium Mining News of Importance in the markets today: Nevada Energy Metals Inc. (OTCQB: SSMLF) (BFF) is pleased to announce that it has acquired 160 placer claims, with an area of 3,200 acres/1,295 hectares, located in northern Big Smokey Valley, Township 13N., Range 43E, Nye County, Nevada. Rick Wilson, Chief Executive Officer of Nevada Energy Metals, commented: "We are thrilled about adding a sixth lithium exploration project to our growing portfolio of properties. The desert basins of Nevada are virtually unexplored by deep drilling for lithium brine deposits that are similar to Clayton Valley. I am looking forward to an exciting exploration season this year and next."
The claims were located with the benefit of historical brine sampling results for lithium in the basin. Values were reported in the range of 130 to 155 ppm lithium for 4 samples (J.R. Davis, U.S. Geological Survey, Denver, Co.). The northern basin is fed by geothermal brines that are meteoric waters heated by relatively deep circulation in the earth's crust. The dominant structural controls bounding the playa are high angle, large displacement "normal" faults which provide conduits for fluid migration and dictate resource localization. Gravity survey results indicate an asymmetrical nature of the subsurface in the central and southern portions of the basin and that there is subsurface closure of the valley as it approaches Round Mountain to the south. Gravity data also indicates the presence of subsurface structural features associated with three of the known high temperature geothermal systems in the area. The depth of valley fill is calculated to be approximately 5,100 feet.
In other sector related news & developments: American Lithium Corp. (NYSE: ALB), is pleased to announce that it has completed the acquisition of 1065604 B.C. Ltd. ("1065604"), a private British Columbia company which holds the option to earn an undivided 80% interest in the Atlantis lithium property ("Atlantis") located in Fish Lake Valley, Esmeralda County, Nevada. As previously announced in the Company's news release dated May 9, 2016 , Atlantis is comprised of unpatented placer claims and placer association claims totaling 2,882 acres (1,166 hectares), located approximately 25 miles (38 kilometres) northwest of the Silver Peak lithium brine mine operated by Albemarle Corporation (ALB), the only producing lithium mine in North America.
Tesla Motors, Inc. (NASDAQ:TSLA) News: According to an article by Goldman Sachs, the lithium market could triple by 2025-EVEN WITHOUT considering the already steadily rising demand for consumer electronics and even without considering our massive power storage needs. With each small 1% jump in electric vehicle market share, lithium demand just for this segment will increase by 70,000 tons. And EVs are about to hit the mainstream irrevocably now that Tesla has launched its affordable Model 3.
Chemical & Mining Co. of Chile Inc.(NYSE: SQM), the Chilean chemicals group, said late Wednesday its joint venture with Canadian junior miner Lithium Americas to develop a lithium project in Argentina will require $500-$600 million in total expenditures. SQM and Lithium Americas signed the joint venture in March for the Cauchari-Olaroz lithium project in Argentina's Jujuy province, eyeing annual output of 40,000 tonnes of lithium carbonate equivalent. Construction on the project is slated to begin in the first half of 2017, while plant commissioning and production are scheduled to start by 2019, SQM said. The company added that it "is committed to successfully developing the Minera Exar project in order to meet the world's lithium needs, complementing its existing lithium operations in Chile."
FMC Corporation (NYSE: FMC) earlier this month reported first quarter revenue of $799 million, a 21 percent increase over the same period in 2015. The company reported net income of $48.3 million, or $0.36 per diluted share, in the first quarter of 2016, as compared to a net loss of $46.8 million, or a loss of $0.35 per diluted share, in the first quarter of 2015. Excluding various restructuring charges, adjusted earnings were $0.58 per diluted share, flat compared to the prior-year quarter. Pierre Brondeau, FMC president, CEO and chairman said: "We are pleased to have achieved adjusted EPS towards the higher end of our first quarter guidance range and to increase our full-year adjusted EPS guidance by five cents. With Ag Solutions and Health and Nutrition delivering earnings in line with guidance, it was the outperformance by Lithium that drove this strong result and the guidance increase. We came into 2016 expecting challenging agricultural market conditions, particularly in the Americas, and so far these expectations are proving to be accurate. However, the actions we continue to take in managing the business leave us confident in our full-year outlook for Agricultural Solutions."
Contact Information:
Company: FN Media Group, LLC
Contact email: [email protected]
U.S. Phone: +1-(954)345-0611
URL: http://www.financialnewsmedia.com