Cobalt and Lithium Markets Projected to Grow Due to the Demand of Batteries – iCrowdNewswire
 
x

RSS Newsfeeds

See all RSS Newsfeeds

Global Regions

United States ( XML Feed )

Sep 13, 2017 8:01 PM ET

Cobalt and Lithium Markets Projected to Grow Due to the Demand of Batteries

Disclosure NewswireTM

iCrowdNewswire - Sep 13, 2017

NEW YORK —

 

The mining industry is very diverse and in recent years, technological advancements have raised demand for certain minerals like Lithium, which is now widely used in researchable batteries. Lithium-ion batteries are an efficient source of energy for rechargeable storage devices, capable of expanding battery durability, and are leading to an increasing power source for consumer electronics including hybrid and electric vehicles. According to a research by Techsci Research, the global lithium-ion battery market is projected to grow at a CAGR of over 17% during 2016 – 2021. In terms of energy demand, it is expected to increase from 12928.4 Million Ton Oil Equivalent (MTOE) in 2014 to 17,000 MTOE by 2020. LiCo Energy Metals Inc (OTC: WCTXF), Glencore Plc (OTC: GLNCY), MGX Minerals Inc. (OTC: MGXMF), First Cobalt Corp (OTC: FTSSF), Lundin Mining Corporation (OTC: LUNMF).

Lithium cobalt oxide (LCO) battery type are expected to constitute a large share of the overall lithium ion battery market. A report by Markets and Markets indicates that the energy density of any LCO battery is very high, and the cost of manufacturing these batteries is fairly reasonable, owing to the use of graphite carbon and cobalt. The market for lithium nickel manganese cobalt battery type is expected to grow at the highest rate between 2016 and 2022. As for the overall lithium ion battery market, the research projects that the market will be valued at USD 68.97 Billion, by 2022, growing at a CAGR of 16.6% between 2016 and 2022.

LiCo Energy Metals Inc (OTCQB: WCTXF) is also listed on the TSX Venture Exchange under the ticker ‘LIC’. Earlier today, the company announced breaking news that it is planning to start a Phase 1 diamond drilling on its Teledyne and Glencore Bucke cobalt properties situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario. A minimum 1,500 m diamond drill program is planned to commence approximately on September 21st, 2017, by a reputable diamond drill contractor.

In 1981, Teledyne Canada Ltd. leased the Glencore Bucke Property from Falconbridge Nickel Mines Ltd. as they recognized the exploration potential that the Property had due the possible southern extension of the #3 vein located on the Cobalt Contact Property to the north. In the same year, Teledyne completed 36 diamond drill holes totaling 3,323.3 m, and delineated two zones of mineralization measure approximately 150 m and 70 m in length. The most significant results include 2.12% Co over 1.01 m in diamond drill hole T-18, 0.62% Co over 2.74 m in diamond drill hole T-23, 0.66% Co over 0.73 m, 1.68% Co over 0.46 m in diamond drill hole T-30, and 0.36% Co, 41 oz/t Ag over 0.58 m in diamond drill hole T-37 (Bresee, 1982). The historical reported intersections represent core lengths, and not true widths. Initially, on the Glencore Bucke Property, the first few holes of the program will be oriented to confirm results from historical drilling completed by Teledyne Canada Ltd., and then followed by step out drill holes to expand the mineralized zones.

Drilling is also planned for the adjacent Teledyne Cobalt Property where historical drilling also encountered two zones of cobalt/silver mineralization extending from the boundary of mined zones at the Agaunico Mine in a north-south direction. Historically, the Agaunico Mine produced 4,350,000 lbs. of cobalt and 980,000 oz. of silver during the mining boom of the early 1900’s (Cunningham-Dunlop, 1979). In 1979, Teledyne completed 6 diamond drill holes totaling 1,281.1 m. In 1980, Teledyne completed a 700 m long production decline to reach the mineralization encountered in their recently completed surface diamond drill program. A total of 22 underground diamond drill holes totaling 1,879.7 m were completed. Both the surface and underground drilling programs indicated the presence of significant cobalt mineralization extending from the past-producing Agaunico Mine onto the Teledyne Cobalt Property for a strike length of 152.4 m. In addition, the drill program encountered a second zone with a strike length of 137.2 m. The most significant results included 0.644% Co over 16.9 m in diamond drill hole UT-2, 0.74% Co over 8.7 m in diamond drill hole UT-3, and 2.59% Co over 2.4 m in diamond drill hole UT-18 (Bresee, 1981). The historical reported intersections represent core lengths, and not true widths. Drilling on the Teledyne Cobalt Property will also be orientated to confirm results from the historical drilling completed by Teledyne, and to expand the mineralized zones. Several other underexplored structures present on the Property will also be tested by diamond drilling. The drilling will be conducted as part of LiCo’s flow thru financing.

“We are very excited and looking forward to the milestone event of the commencement of the diamond drill program on these properties. Acquiring the Glencore Bucke Property from Glencore and adding it to our land package significantly adds more potential to LiCo’s Cobalt properties,” states Tim Fernback, LiCo’s President & CEO.  

“With the combined land package and the historical results on both the Teledyne and Glencore Bucke properties, it is going to be a very exciting drill program. I am looking forward with great interest to seeing the results of the upcoming drill programs scheduled for both the Teledyne and Glencore Bucke properties this month,” commented Mr. Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo.

Glencore Plc (OTC: GLNCY) is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. On July 27, 2017, the company announced it signed agreements with Yancoal Australia Limited regarding the acquisition of a 49% interest in the Hunter Valley Operations coal mine in NSW and form a Joint Venture following Yancoal’s acquisition of Coal & Allied from Rio Tinto. The addition of 49% of HVO to our existing portfolio in the Hunter Valley will unlock mining and operating synergies. Glencore’s combined portfolio of mines in the Hunter Valley, including HVO, will have production capacity of 69 million tonnes per annum of high quality energy coal to meet increasing Asian demand. 

MGX Minerals Inc. (OTC: MGXMF) and its engineering partner have developed a proprietary, low-energy design process that is patent-pending. The process is specifically designed for highly-mineralized brine associated with oilfields. The process rapidly concentrates lithium and other minerals from brine. Recently, the company provided shareholders with a progress report on multiple fronts inclusive of lithium, magnesium, silicon, and newly acquired rare earth superalloy projects. MGX has processed wastewater and lithium brine from eight North American project sites since inception of its one cubic meter per hour pilot plant in July 2017. These bulk samples of one US barrel each were shipped from six oil and gas sites and two mine sites in the US and Canada. Independent assays are pending to verify lithium and other mineral recoveries as well as clean water output profile to determine environmental and water handling benefit.

First Cobalt Corp (OTC: FTSSF) is focused on building a diversified global portfolio of assets that are highly leveraged to the cobalt market. Recently, the company announced the filing of an independent NI 43-101 technical report on its Greater Cobalt Project located near Cobalt, Ontario. The Project area covers 4,300 hectares in the neighboring historic towns of Silver Centre and Cobalt, now commonly referred to as the Cobalt Camp. First Cobalt’s Greater Cobalt Project in Ontario, Canada comprises a group of contiguous claims in the historic Silver Centre mining centre and a group of non-contiguous claims in the historic Cobalt mining centre, now collectively referred to as the Cobalt Camp. The Project covers a total area of approximately 4,300 hectares.

Lundin Mining Corporation (OTC: LUNMF) is a diversified Canadian base metals mining company with operations in Chilethe United States of AmericaPortugal, and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24 percent equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland. Recently, the company reported its Mineral Resource and Mineral Reserve estimates as at June 30, 2017. On a consolidated and attributable basis, contained metal in the Proven and Probable Mineral Reserve categories totaled 3,232 kt of copper, 3,415 kt of zinc and 130 kt of nickel.

Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. “The Latest Buzz in Financial News”

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com expects to be compensated up to five thousand dollars for financial news dissemination and pr services by a non-affiliate third party for lico energy metals inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com .

For further information:
[email protected]
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com

Contact Information:

[email protected]
+1-877-601-1879

View Related News >