Lithium Demand Seen Rising By 23% In 2021 Due To Battery Sector As Tesla (NASDAQ: TSLA) And Other EV Makers Compete For Key Metal In Lithium-Ion Batteries; First Energy Metals Limited (OTC: ASKDF) Enters Option Agreement To Acquire Augustus Lithium Exploration Property In Quebec
Investors say the future of lithium is bright as Tesla (NASDAQ: TSLA) and other EV makers drive up the price of the metal. Lithium carbonate demand in 2021 will rise 23% and hydroxide by 33% YOY, according to Benchmark Mineral Intelli- gence, as quoted by Lithium Investing News. Lithium, used in EV car and truck lithium-ion batteries, has EV makers looking for sources mines closer to home than the China, Chile and Australia mines. EV makers are looking for lithium in Nevada and Utah and have sparked a new flurry of lithium mining in Quebec, Canada. First Energy Metals Limited (OTC: ASKDF) has entered an option agreement to acquire the Augustus lithium exploration property in Quebec as the lithium mining market of Quebec soars. Recently, Piedmont Lithium Limited (NASDAQ: PLL) announced it was investing $12 million in a strategic investment to acquire 19.9% of Hard Rock Lithium Developer Sayona Mining Limited and25% of Sayona Quebec.
stockmarketpress.com features specialized coverage of related stocks in the lithium metals mining industry such as First Energy Metals Limited (OTC: ASKDF), Piedmont Lithium Limited (NASDAQ: PLL), Lithium Americas (NYSE: LAC), Livent (NYSE: LTHM), Pilbara (OTC: PILPF), American Battery Metals (OTC: ABML), Tesla (NASDAQ: TSLA), Albemarle (NYSE: ALB), Sociedad Quimica y Minera (NYSE: SQM) and Power Metals (OTC: PWRMF).
Lithium Demand Seen Rising By 23% In 2021 Due To Battery Sector As Tesla (NASDAQ: TSLA) And Other EV Makers Compete For Key Metal In Lithium-Ion Batteries; First Energy Metals Limited (OTC: ASKDF) Enters Option Agreement To Acquire Augustus Lithium Exploration Property In Quebec
Projections are that lithium carbonate demand wlll soar 23% in 2021 due to the battery sector. Investors are thinking larger than Tesla (NASDAQ: TSLA) alone when projecting the future of lithium and electric vehicles. According to CNN Business, Tesla’s stock rise is important for lithium — but the issue is electric cars worldwide, not just Tesla (NASDAQ: TSLA). CNN projects that electric cars could reach 50% of the worldwide auto market by 2030 with multiple-brands competing for market share, according to Pedro Palandrani, disruptive technolo- gy analyst at Global X. Lithium Demand Seen Rising By 23% In 2021 Due To Battery Sector As Tesla (NASDAQ: TSLA) And Other EV Makers Compete For Key Metal In Lithium-Ion Batteries; First Energy Metals Limited (OTC: ASKDF) Enters Option Agreement To Acquire Augustus Lithium Exploration Property In Quebec.
Tesla, General Motors And European Carmarkers Seek Lithium For EV Vehicles
As the competition for lithium increases, North American auto manufacturers — such as Tesla (NASDAQ: TSLA) and General Motors (NYSE: GM) seek secure supply lines closer to home. European carmakers such as Volkswagen (OTC: VWAGY) and Daimler AG (OTC: DDAIF) — or Mercedes-Benz — also are com- mitted to electric cars and trucks in the future.
As lithium demand soars and prices are expected to jump, First Energy Metals Limited (OTC: ASKTF) entered into the option agreement to acquire a lithium exploration property in Landrienne & Lacorme-Townships in Quebec. It consists of three non-contiguous claim groups located some 40 kilometers northwest of Val D’Or in Quebec. It says that the geology and mineralization of the site is simi- lar to the Quebec Lithium mine, the Company said. There are also several mines
nearby, including the Mine Quebec Lithium and Authier Lithium, owned by Say-
ona Mining of Australia And Others.
Great Future For Lithium Miners As Electric Cars Multiply Worldwide
It all adds up to a great future for lithium miners as fleets of electric vehicles are being developed worldwide. Lithium Demand Seen Rising By 23% In 2021 Due To Battery Sector As Tesla (NASDAQ: TSLA) And Other EV Makers Compete For Key Metal In Lithium-Ion Batteries; First Energy Metals Limited (OTC: ASKDF) Enters Option Agreement To Acquire Augustus Lithium Exploration Property In Quebec.
Lithium is needed in EV vehicles — cars, trucks and other vehicles, Barron’s re- ports. It estimates that global production of lithium carbonate equivalent (LCE) measured 380,000 tons in 2019. About one-third of that was destined for lithium- ion batteries to be placed into electric vehicles. Lithium set to soar in price, ac- cording to Seeking Alpha site, which reports that demand for lithium should jump to 1.637 million tons by 2025.
The flurry of lithium mining activity in Quebec takes place as Allied Market Re- search sees the lithium ion battery market reaching $129.3 billion by 2027, growing at a CAGR of some 18% from 2020-2027. Lithium ion batteries are rechargeable with high-energy density and are used in portable equipment. They are critical for electric EV cars, according to the Allied Market Research report. Lithium Demand Seen Rising By 23% In 2021 Due To Battery Sector As Tesla (NASDAQ: TSLA) And Other EV Makers Compete For Key Metal In Lithium-Ion Batteries; First Energy Metals Limited (OTC: ASKDF) Enters Option Agreement To Acquire Augustus Lithium Exploration Property In Quebec.
The Lithium Property Option Agreement
First Energy holds an option to acquire a 100% interest in the Augustus lithium property by making cash payments, common shares and issuances beginning with a $35,000 cash payment on the effective date of the option. Other payments will follow on specified anniversary dates in the future. In addition, common shares are to be issued on the execution of the option agreement and in the fu- ture. The optionee incurs expenditures on the property.
Quebec Emerges As Center Of Lithium Mining As Electric Vehicle Production
Skyrockets
Quebec is emerging as a center of lithium mining, given its abundant mineral re- sources. It is also located close to major U.S. and European electric vehicle mar- kets. Quebec, ASKDF said, holds more than 50 million tons of at 1% lithium ox- ide. Sayona is an emerging lithium miner with existing projects in Quebec and Western Australia, it said.
Some car companies are so desperate to find lithium sources at home they have even sought domestic mining on their own. One is Tesla (NASDAQ: TSLA). An- other strategy is through partnerships. Tesla (NASDAQ: TSLA) makes battery deal with Panasonic, according to site Electrak. Barron’s said that Tesla (NAS- DAQ: TSLA) is planning for an increase of lithium by 2030 that is more than 50 times today’s supply.
Source: Stock Market Press
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