Industria
Favorable Initiatives by Various Governments a Significant Factor Driving Global Lithium Mining
Future Market Insights continued: "The Asia Pacific is anticipated to yield significant growth opportunities, backed by increasing lithium production in various countries. By 2032-end, the lithium mining industry is forecasted to register a growth rate of 7.4%. Within the Asia Pacific , Australia produces more than half of the world's lithium. Another lucrative country is China , which also exports lithium to countries including the US, Japan , and India . The significant contribution of China can be attributed to the large consumer base of electronic vehicles, and the availability of production facilities for electrical and electronics. This entails an expansion of electronic items production capabilities, which will attract key Lithium Miners. Governments across the globe are taking various initiatives to encourage the application of EVs which will benefit the market in the forecast period. Additionally, favorable initiatives by the government of various countries are anticipated to be another significant factor that can drive industry growth in the forecast period (2032)."
- Usha Resources Ltd., a North American mineral acquisition and exploration company, is pleased to provide this update on its on-going field program at the White Willow Lithium Pegmatite Project ("White Willow" or the "Project") located 170 km west of Thunder Bay, Ontario .
The Company has completed 5 weeks of fieldwork this season, with data compilation complete for 618 samples. Assay highlights include:
Of note, a high-grade showing of 14.64% Ta2O5 is present at the Maple Leaf Dyke; coarse-grained tantalite is only known to be found at one other locality in Ontario which is the North Aubrey pegmatite at Green Technology Metals (GT1) Seymour Lake Project where GT1 has identified a 9.9 Mt resource at 1.04% Li2O.
Geochemical assessment also indicates the strong potential for spodumene-bearing dykes to be present at the property. Per Selway et al., potassium/rubidium ratios (K/Rb), are a key tool in identifying these types of dykes; K/Rb ratios of <30 are indicative of rare-earth pegmatites and <20 of spodumene-subtype pegmatites. To-date, 10 pegmatites have been identified with K/Rb ratios <30 with a low of 7.5. Values below 10 are often associated with economic spodumene pegmatites. https://usharesources.com/news-releases/
recently announced that shareholders have voted in favor of the separation of the Company into Lithium Americas ( Argentina ) Corp. ("Lithium Argentina") and a new Lithium Americas Corp. ("Lithium Americas (NewCo)") pursuant to a statutory plan of arrangement (the "Separation") at the Company's annual general and special meeting of shareholders held today (the "Meeting"). The Separation was approved by 98.85% of the votes cast by shareholders present or represented by proxy at the Meeting, as well as 98.78% of the votes cast excluding those of such shareholders who are required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
"We are delighted to see our shareholders' overwhelming support for the Separation," said Jonathan Evans , Lithium Americas' President and CEO. "Following the Separation, the Lithium Americas (NewCo) team is committed to advancing the Thacker Pass project toward production to support the critical North American lithium supply chain. Meanwhile, the Lithium Argentina team will advance Caucharí-Olaroz toward full commercial production and pursue development opportunities in its significant growth pipeline in Argentina ."
and its wholly-owned subsidiary Sigma Brazil (private), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable chemical-grade lithium concentrate, recently announced that both Companies' Board of Directors (together or separate, the "Board of Directors") are evaluating potential strategic alternatives for the Companies (the "Strategic Process").
The Companies received several proposals in relation to the Brazilian Company Sigma Mineração ("Sigma Brazil"), for the Canadian parent Sigma Lithium Corporation (together the "Companies" or separately the "Company") as well as for the Grota do Cirilo Project (the "Project"). The proposals from the potential strategic partners differ in nature and structure and are subject to ongoing review and negotiations.
recently reported results for the second quarter of 2023. Second quarter revenue was $235.8 million, 7% lower than the first quarter of 2023 and 8% higher than the second quarter of 2022. Reported GAAP net income was $90.2 million, or 43 cents per diluted share, compared to $114.8 million in the previous quarter and $60.0 million in the prior year's quarter. Adjusted EBITDA was $134.5 million, 15% lower than the previous quarter but 42% higher than the prior year's quarter, and adjusted earnings per diluted share were 51 cents. Volumes sold were roughly flat versus the first quarter of 2023 while average realized prices were slightly lower and overall costs were higher.
"We continued to see healthy demand from our customers which helped to support strong financial results in the second quarter. As anticipated, we experienced the lagged impact of lower market prices in certain lithium products and end markets, as well as higher operating costs during the quarter," said Paul Graves, president and chief executive officer of Livent. "We expect 2023 second half financial performance to be broadly similar to the first half of the year, supported by pricing visibility from our existing customer contracts and incremental volume available for sale in the second half of the year."
a leading near-commercial lithium company, recently announced the acquisition of 118 acres of land intended to advance development of its South West Arkansas Project ("SWA Project" or the "Project"). Dr. Andy Robinson , President and COO of Standard Lithium, commented,
The South West Arkansas Project is located approximately 15 miles west of the City of Magnolia in southwestern Arkansas. The SWA Project's Indicated and Inferred Mineral Resource of 1.4 Mt and 0.4 Mt lithium carbonate equivalent, respectively, has some of the highest reported lithium brine concentrations in North America , averaging above 400 mg/L.
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