Global Lithium-ion Battery Market Projected to Grow

NEW YORK, May 2, 2018 /PRNewswire/ --

According to data compiled by Stratistics MRC, the global lithium-ion battery market reached $29.86 billion in 2017 and is forecasted to reach $139.36 billion by 2026, while growing at a CAGR of 18.7%. The market's projected growth is attributable to electric vehicles, technological advancements and demand for rechargeable smart devices. Many countries are beginning to implement regulations for manufacturers to utilize rechargeable batteries more frequently due to their recyclability and efficient clean energy qualities. The automotive industry is expected to drive the battery market in the next coming years as the transition from diesel-powered vehicles to EVs begins to ramp up. MGX Minerals Inc. (OTC: MGXMF), Albemarle Corporation (NYSE: ALB), Sociedad Química y Minera de Chile S.A. (NYSE: SQM), Lithium Americas Corp (NYSE: LAC), FMC Corporation (NYSE: FMC)

Analysts are projecting that the battery market is highly dependent on the outcome of EVs, but the problem remains that supply is not meeting demands. The price of lithium has increased substantially in the past couple years due the issue of supply and demand. David Whitten, Head of Global Natural Resources and a Fund Manager at Janus Henderson Investors, explained: "The battery industry is expanding capacity to meet the forecast EV demand, which is being mirrored by converters' capacity. The level of investment in the raw material part of the chain (hard rock mines and brines) is accelerating, but needs to accelerate faster."

MGX Minerals Inc. (OTC: MGXMF) also listed on the Canadian Securities Exchange under the Ticker (CSE: XMG). Just earlier today the company announced breaking news that it is pleased to report, "acquisition of an additional 3,455 acres of oil and gas leases as a result of successful bidding at a recent State of Utah School and Institutional Trust Land Administration (SITLA) auction. The leases are located contiguous to the Company's unitized 80,380-acre Blueberry Unit ("Blueberry Unit") and show similar subsurface geological formations and structures favorable for accumulations of oil and gas as well as lithium brine-bearing formations.

The Company also reports that preparations to conduct a 3D seismic geophysical survey at the Blueberry Unit are progressing steadily. Site surveying has been completed and the survey will include approximately 9,000 data points. Pending Bureau of Land Management approval, the survey is scheduled to commence in August. The Blueberry Unit (oil, gas and lithium) and Lisbon Valley Claims (lithium) now consists of approximately 115,000 acres of oil and gas leases and 118,000 acres of largely overlying and contiguous mineral claims. Brine content within the Lisbon Valley oilfield have been historically reported as high as 730 ppm lithium (Superior Oil 88-21P).

The Project is being simultaneously explored for oil, gas, lithium and other brine minerals to determine locations for deployment of the Company's lithium and mineral extraction technology. In total MGX controls over two million acres of mineral leases and permits overlying brine-bearing formations throughout North America.

Blueberry Unit - MGX is currently earning a 75% working interest in the Project, with the remaining interest primarily controlled by the Paradox Partner. The Paradox Partner has been engaged by MGX as subcontracted operator of the Project. The Project is host to National Instrument (N.I) 51-101 estimated prospective resources (the "Estimate") consisting of leasehold and royalty interests in San Juan County, Utah and Miguel County. Colorado. The estimate was prepared by the Ryder Scott Company, L.P. ("Ryder Scott"), an independent qualified reserves evaluator within the meaning of N.I. 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101"), with an effective date of June 30, 2017. The Estimate was prepared in accordance with N.I. 51-101 and the Canadian Oil and Gas Evaluation…"

Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, NC, is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. On March 9, 2018, the company announced that as expected, it has received approval from Chile's Economic Development Agency (CORFO) for an increase in the company's lithium quota to sustainably increase Albemarle's lithium production in Chile to as much as 145,000 metric tons of lithium carbonate equivalent (LCE) annually through 2043.  As previously announced, this quota increase will be enabled by the company's deployment of innovative technology to extract more lithium without the need for additional brine pumping at the Salar de Atacama. Albemarle's new brine yield technology coupled with the terms of this CORFO quota increase will result in similar cost and margin structure to what Albemarle has with its current production processes.

Sociedad Química y Minera de Chile S.A. (NYSE: SQM) is an integrated producer and distributor of lithium, iodine, specialty plant nutrients, potassium-related fertilizers and industrial chemicals. On February 28, 2018, the company reported earnings for the twelve months ended December 31, 2017 of US$427.7 million (US$1.63 per ADR), an increase from US$278.3 million (US$1.06 per ADR) reported for the twelve months ended December 31, 2016. In January 2018, the company announced that it reached an agreement with CORFO to finish the arbitration processes that started in May 2014. The agreement included a one-time payment of approximately US$20 million that is reflected in the fourth quarter 2017 results. As part of the agreement, SQM is allowed to produce and sell up to 2.2 million MT of lithium carbonate equivalent (LCE) through 2030, albeit at higher lease payments to CORFO and other associated cost. The new payment structure will become effective, as of the moment the agreement is approved by regulatory authorities in Chile, which we expect to occur during March 2018.

Lithium Americas Corp (NYSE: LAC), through a Joint Venture with Sociedad Química y Minera de Chile (SQM), is developing the Cauchari-Olaroz brine deposit in Jujuy, Argentina. On April 5, 2018, the company provided an updated mineral resource estimate on the Thacker Pass deposit of the Lithium Nevada Project located in the McDermitt Caldera, Nevada, USA. The Resource Estimate was prepared pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). At a cut-off of 2,000 parts per million lithium ("ppm Li"), the updated Resource Estimate consists of a Measured and Indicated Resource of 385 million tonnes grading 2,917 ppm Li for 6.0 million tonnes of lithium carbonate equivalent ("LCE") and an Inferred Resource of 147 million tonnes grading 2,932 ppm Li for 2.3 million tonnes of LCE.

FMC Corporation (NYSE: FMC) has served the global agricultural, industrial and consumer markets with innovative solutions, applications and quality products. FMC employs more than 7,000 people throughout the world and operates its businesses in two segments:  FMC Agricultural Solutions and FMC Lithium. Earlier this year, the company announced that it has revised its operating agreements in Argentina, allowing it to expand production and completing an important step toward the intended separation of its lithium business in 2018. The revised operating agreements update FMC royalties and corporate social responsibility (CSR) programs in Argentina and eliminate restrictions that may have prevented a change of control of FMC Lithium.  The revised royalties and CSR programs are at levels generally consistent with current commitments. FMC reconfirms that it will at least double its production in Argentina during the next several years, with total annual output expected to exceed 40,000 metric tons of lithium carbonate equivalents.

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