Automotive Industry's Move To Adopt LiOH For Battery Manufacturing Expected To Benefit Lithium Market Growth

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Nov 17, 2021, 08:35 ET

PALM BEACH, Fla., Nov. 17, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Lithium is in demand of late. The most important use of lithium is in rechargeable batteries for mobile phones, laptops, digital cameras and electric vehicles. Lithium is also used in some non-rechargeable batteries for things like heart pacemakers, toys and clocks, but it is the battery and automotive segments that get most of the attention. Electrification of vehicles is projected to attract a significant volume of lithium-ion batteries, thus anticipated to drive the market over the forecast period. The automotive application segment is expected to witness substantial growth over the forecast period, driven by stringent regulations for ICE automakers imposed by government bodies to reduce carbon dioxide emissions from vehicles. This has shifted the interest of automakers toward producing EVs, which is anticipated to benefit the demand for lithium and related products. Government subsidies for EVs, along with investments in this space, are likely to act as an additional booster to the growth of the market. Lithium According to a report from Grand View Research said that the global lithium market size was valued at USD 2.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 14.8% from 2021 to 2028. The report said: "The carbonate product segment dominated the market and accounted for the largest share of over 58.0% in 2020, in terms of volume. Lithium carbonate (Li2CO3) is the most stable inorganic compound and is used in forming other compounds, such as Lithium Hydroxide (LiOH) and even pure metal. Lithium associated with carbonates forms salts and is also used in the treatment of bipolar disorder. This compound is also used in lithium-ion batteries and has several applications in the construction sector for waterproofing slurries and as adhesives. Active mining stocks in the markets this week include: Lithium South Development Corporation (OTCQB: LISMF) (TSX-V: LIS), Piedmont Lithium Limited (NASDAQ: PLL), Standard Lithium Ltd. (NYSE: SLI) (TSXV: SLI), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), Livent Corporation (NYSE: LTHM).

Grand View Research continued: "LiOH is a white hygroscopic crystalline material and an inorganic compound mostly used by lithium-ion battery manufacturers; it is commercially available as anhydrous and monohydrate. It has usage in transportation applications in the manufacturing of submarines and spacecraft. In addition, rapid development in battery technologies is propelling the demand for LiOH, thus, driving the market. Many automotive players are inclined to adopt LiOH for battery manufacturing, which is expected to benefit market growth positively. Single-use, non-rechargeable lithium batteries are found in remote controllers, handheld games, cameras, and smoke detectors. Rechargeable lithium-polymer cells are used in cell phones, laptops, toys, digital cameras, small and large appliances, tablets e-readers, and power tools. These batteries are made from critical materials such as cobalt, graphite, and lithium and need to handle with safety and precautions. The developed countries worldwide are investing increasingly in the deployment of energy storage systems based on lithium-ion batteries; thus, fueling the growth of the lithium market."

Lithium South Development Corporation (OTCQB: LISMF) (TSX-V: LIS), BREAKING NEWS: Environmental Base Line Study Update - Lithium South Development Corporation (the "Company") is pleased to provide an update on progress with the ongoing environmental baseline study at the Hombre Muerto North Lithium Project, being conducted by EC & Asociados of Salta, Argentine. EC & Asociados have advised that they have completed study of the onsite environmental conditions during the dry season and will be providing an updated report expected in early December. The second phase of the study will commence during the first two weeks of December and will involve study of the environmental conditions on site during the wet season. The environmental base line study will fulfill requirements under the General Environmental Law, Mining Code No. 24.585.

Company Vice President, Fernando Villarroel is quoted: "We are very pleased with the progress made to date for environmental permitting. Conclusion of the baseline study will provide a key element of a planned Feasibility Study." CONTINUED…. Read this release for the Lithium South news at: https://www.financialnewsmedia.com/news-lis/

Other recent mining developments in the markets include:

Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) recently announced that it has submitted an unconditional offer to Millennial Lithium Corp. ("Millennial") to acquire all of the outstanding shares (each, a "Common Share") of Millennial (the "Offer"). Under the terms of the Offer, on closing, each Millennial shareholder ("Millennial Shareholder") will receive C$4.70 per Common Share, payable in Lithium Americas common shares and C$0.001 in cash per Common Share (the "Purchase Price"), representing total consideration of approximately US$400 million. Based on the Company's closing price on October 29, 2021, this consideration would result in Millennial Shareholders owning approximately 9.9% of Lithium Americas.

"In proximity to Caucharí-Olaroz, Millennial's 100%-owned Pastos Grandes lithium brine project represents an attractive regional growth opportunity for Lithium Americas," said Jonathan Evans, President and CEO. "As we bring Caucharí-Olaroz into production over the next year and continue to advance our Stage 2 expansion planning, the addition of this highly complementary lithium brine resource further enhances our long-term growth strategy in Argentina and leverages our technical and development expertise."

Piedmont Lithium Inc., (NASDAQ: PLL), a leading developer of lithium hydroxide production to enable the North American electric vehicle supply chain, recently released a new Corporate Overview Presentation. The updated presentation includes information addressing overall market conditions, lithium supply and demand projections from industry analysts, pricing trends, as well as a status update on Piedmont's multiple resources in North Carolina, Quebec, and Ghana.

"The tremendous momentum in the EV industry continues to accelerate, especially in North America with near daily expansion announcements from battery makers and electric vehicle makers alike. One thing that remains a constant in this electric environment is the need for lithium to power the industry's projected growth," said Piedmont President and CEO, Keith Phillips. "A company that controls a critical mass of spodumene with the ability to cost-effectively produce battery-grade lithium hydroxide, is well positioned to serve the fast-growing EV market, while returning increasing value to shareholders. And that is exactly how we are building our company," added Phillips.

Livent Corporation (NYSE: LTHM) recently announced its proprietary LIOVIX™ lithium metal product, a unique printable formulation of lithium metal and other specialty materials that can improve the performance of lithium-ion batteries, reduce manufacturing costs and enable the next generation of battery technology, all while enhancing safety and sustainability.

"Our customers continue to look to us for innovative and sustainable solutions that can improve battery performance, safety and manufacturing efficiency. We look forward to bringing LIOVIX™ to the market in the future as a product to help meet these growing requirements while opening pathways for the development of next generation battery technology," said Paul Graves, president and chief executive officer of Livent.

LIOVIX™ can be printed on a battery's anode during electrode manufacturing in a process called pre-lithiation. This has led to higher capacity, longer life batteries. In fact, the application of LIOVIX™ has been demonstrated through initial testing to improve a battery's output and to extend its useful life with more recharge cycles than conventional batteries.

Standard Lithium Ltd. (NYSE: SLI) (TSXV: SLI), an innovative technology and lithium project development company, recently reported the positive results of a Preliminary Economic Assessment (PEA) for the Company's South-West Arkansas (SWA) Lithium Project (the "Project"; previously called the Tetra Project.

Key Points: Pre-tax US$2.83 Billion NPV at 8% discount rate and IRR of 40.5%; After-tax US$1.97 Billion NPV at 8% discount rate and IRR of 32.1%; 20-year mine-life producing an average of 30,000 tonnes per year of battery-quality lithium hydroxide monohydrate (LHM); Operating costs of US$2,599 per tonne of battery quality lithium hydroxide; AACE Class 5 Total CAPEX estimate of US$870 Million including conservative 25% contingency of direct capital costs; and SW Arkansas Lithium Project PEA lithium brine resource is updated to consider the potential unitized area of production, leading to an increased total (global) in-situ resource of 1,195,000 tonnes Lithium Carbonate Equivalent (LCE) at the Inferred Category.

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