According to “Global Lithium Market Outlook” a report put together by Goldman Sachs HCID Conference (http://nnw.fm/M0wCq), there are a number of trends driving lithium growth. One of the key reasons lithium has not plummeted like some commodities is the continued growth of electrical devices across the world and the high power they require from lithium-based power units. Lithium is, of course, increasingly used in a number of mobile energy systems, including EVs, producing greater energy with less weight and fewer chemicals. But lithium is also an active pharmaceutical and agro ingredient, and in other applications.
According to the report, the demand for lithium is expected to grow 50% by the year 2020. Some of the reasons driving its market growth include the use of glass and ceramics, grease and lubricants, and chemical synthesis, along with its well-known use in mobile devices, hybrids, electric vehicles, and other grid and power storage applications.
Geographically, the United States is one of the countries benefiting from lithium’s popularity thanks to its mining activities and other reserves. But the U.S. is not the only country making the most of this growing demand. Nemaska Lithium, (OTCXQ: NMKEF) a lithium company based in Quebec, Canada, is in the process of developing an important spodumene hard rock lithium deposit expected to grow to be one of the richest in the world. Production from the mine will be shipped to a plant in Shawinigan, Quebec, before being transformed into one of the purest forms of lithium hydroxide and lithium carbonate. This will then be sold to the expanding lithium battery market and other growing markets.
The initial mine life is expected to be 26 years, and the company has received confirmation for a main patent application on its proprietary process. Nemaska Lithium’s main goal is to become a leading lithium supplier. Phase 1 of the plant should have a combined capacity in the neighborhood of 610 tonnes annually. Since 2015, cash and cash flow for Nemaska Lithium has multiplied by over 400% and total assets are up by more than $15 million, while expenses are down from the previous year.
For more information, visit www.nemaskalithium.com