Aug 03, 2021 (Financial News Media via COMTEX) -- Palm Beach, FL - August 3, 2021 – FinancialNewsMedia.com News Commentary – The lithium mining market consists of sales of lithium and its compounds by entities (organizations, sole traders and partnerships) that mine lithium and its compounds, which are used in industrial applications, including heat-resistant glass and ceramics, lithium grease lubricants, flux additives for iron, steel and aluminum production, lithium batteries, and lithium-ion batteries. According to the Business Research Company, the lithium mining market expected to reach a value of nearly $1.81 billion by 2022, significantly growing at a CAGR of 7.0% during the forecast period. The growth in the lithium mining market is due to increased use of autonomous hauling systems trucks in the mining industry, which is significantly enhancing production efficiency and reducing turnaround time. Increasing demand for lithium-ion (Li-ion) batteries in various applications, especially the automotive industry, is expected to augment market growth through 2027, according to Grand View Research. Their reportsaid that the global lithium market size was valued at USD 4.23 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 1.9% from 2020 to 2027. Active stocks in the mining markets this week include Argentina Lithium & Energy Corp. (otcqb:PNXLF) /zigman2/quotes/204287608/delayed CA:LIT -9.09% , Millennial Lithium Corp. (otcqx:MLNLF) /zigman2/quotes/209453479/delayed CA:ML +0.55% , Albemarle Corporation /zigman2/quotes/200578017/composite ALB +3.43% , Livent Corporation /zigman2/quotes/200042549/composite LTHM +2.34% , Standard Lithium Ltd. /zigman2/quotes/208666348/composite SLI +8.36% /zigman2/quotes/204508773/delayed CA:SLI +7.32% .
The Grand View Research report continued: "Li-ion batteries are extensively used in vehicles, consumer goods, and grid storage. As of 2019, there are over 3 million electric vehicles (EVs), 8 billion smartphones, and several storage capacities witnessing rapid growth on an annual basis, which is eventually expected to propel the battery demand over the forecast period. The U.S. is a major country in the global lithium market and growing government initiatives towards battery and car manufacturing in the country are anticipated to propel the product demand in the country. For example, in October 2019, KORE Power announced its plan about starting a Li-ion battery manufacturing plant in the U.S. for producing Mark 1 Energy Storage Systems. Increasing production of batteries in the U.S. and worldwide is expected to augment market growth in coming years."
Argentina Lithium & Energy Corp. (otcqb:PNXLF) /zigman2/quotes/204287608/delayed CA:LIT -9.09% BREAKING NEWS: Argentina Lithium Options Additional Properties at Salar de Antofalla – Argentina Lithium & Energy Corp. /zigman2/quotes/207829341/delayed DE:OAY3 +0.61% , ("Argentina Lithium" or the "Company") is pleased to announce that it is expanding its lithium exploration project at the Salar de Antofalla in Argentina ("the Project"). The Company has entered into an option agreement with Trendix Mining ("Trendix") to earn a 100% interest in three granted mine concession properties totaling 5,500 hectares (the "Optioned Properties") situated adjacent to the Company's 9,000 hectares of 100% held claims (the "Staked Properties").
"This acquisition further bolsters our presence in this highly prospective salar. Albemarle Corporation, a major lithium producer, stated that its lithium resource in the southern portion of Salar de Antofalla is expected to be certified as the largest in Argentina," stated Nikolaos Cacos, President and C.E.O. (see Albemarle news release September 12, 2016).
Located in the famed Lithium Triangle, the geological environment at the Salar de Antofalla is similar to other salars in the region where lithium and potash are found, and the project is less than 20 km west of Argentina’s largest lithium producing operation at Salar de Hombre Muerto. The Salar is over 130 km long and varies between 5km and 20km across, with reported basin depths of more than 500m.
In 2016, Roskill information Services reported that the private mining company Bolland had drilled 56 boreholes over 265km  in its claim block in the centre of the salar, ~57 km south of the Argentina Lithium Antofalla properties,and reported a resource 2.22mt of lithium (11.8mt LCE) grading 350mg/l and 83mt of potash (KCl) grading 6,400mg/l. This project is now owned by Albemarle Corporation.
[Investors are cautioned that this information is taken from the publicly available sources, has not been independently verified by the Company and it is not known if it conforms to the standards of NI 43-101. Furthermore, proximity to a discovery, mine, or mineral resource, does not indicate that mineralization will occur at the Company's Project, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario.]
Work by Trendix on the Optioned Properties included surface sampling of brines at 14 locations in 2017. Brines were sampled at depths to 4 metres, over 7 days, and returned lithium anomalies up to 61.1mg/L.
On August 24, 2018, Argentina Lithium reported the completion of a CSAMT geophysical survey at the Project to map deep stratigraphic units and provide additional information on the subsurface in order to delineate drill targets. The survey identified several potential targets with high conductivity in the first 100 metres and moderate conductivity at deeper levels. Reconnaissance drill holes were recommended by the consulting geophysicists to determine the cause of the conductive anomalies and to test for lithium-bearing brines. CONTINUED...Read this entire release for the Argentina Lithium & Energy Corp.at: https://argentinalithium.com/news/2021
Other recent developments in the mining markets include:
Millennial Lithium Corp. (otcqx:MLNLF) /zigman2/quotes/209453479/delayed CA:ML +0.55% recently announced that it has been successful in a recent Mining Court lottery hearing and was awarded priority rights over the areas covered by PPG 01 (formerly La Union), and PPG 03 (formerly Aguamarga 19) mining licenses (“minas”). The company has exercised those rights and the title transfer is in process. The two new minas are 968.7 hectares (ha) and 394.8 hectares respectively and increase the Company’s landholdings at the Pastos Grandes Salar to approximately 14,091 hectares. The PPG 01 license is just north of the Pastos Grandes Salar and is of strategic importance to the Company for project infrastructure and as a potential supplemental source of fresh water.
Farhad Abasov, President and CEO, commented, “We are very pleased to have the opportunity to expand our land position at the Pastos Grandes Salar which now totals just over 14,000 hectares. The acquisition of these licenses, particularly PPG 01, allows Millennial to continue to develop and plan our Project infrastructure and it also provides the Project with the potential to expand significantly the sources of fresh water for our processing facility. Millennial is fully engaged at Pastos Grandes with pilot plant operations continuing and discussions progressing with a number of off-takers and strategic investors.”
Albemarle Corporation /zigman2/quotes/200578017/composite ALB +3.43% , a leader in the global specialty chemicals industry, recently announced the opening of the company’s Battery Materials Innovation Center (BMIC) located at its Kings Mountain, North Carolina, site.
The BMIC is expected to be fully operational in July 2021 and will support Albemarle’s lithium hydroxide, lithium carbonate and advanced energy storage materials growth platforms. It has been equipped to enable synthesis of new materials, material properties characterization and analysis, material scale-up capabilities, and material integration into battery cells for performance testing.
The facility includes a dry room with a multi-layer pouch cell line that can create cell-phone sized batteries to demonstrate critical aspects of battery performance and accelerate transition of new products to customers. The lab will also develop lithium metal anode technologies that will increase battery energy density by utilizing advanced lithium metal rolling to achieve lithium foils 20 microns thin - about one-fifth the average thickness of a human hair - or thinner. The team plans to demonstrate lithium foils as thin as 3 to 5 microns using new technologies currently being developed.