Why experts expect lithium supply will keep growing along with rising Electric Vehicle (EV) demand.
EV’s (Electric Vehicles) are popping up around the world, powering a variety of EV’s. A recent article noted that one of the stranger sights in London and many cities around the world during the COVID-19 lockdowns has been adults whizzing around the empty streets on what was once seen as a child’s toy: a scooter.
A 2019 report estimated that demand for electric bikes and scooters would have a compound annual growth rate of 8% through to 2030. Anecdotal evidence suggests COVID has dramatically increased demand. One UK retailer has said demand has tripled. Many of these new modes of transport are powered by the lithium-ion battery.
Lithium, the world’s least dense metal (Atomic number 3) is also integral to powering the digital economy – mobile phones, tablets and laptops. But the biggest potential use for lithium-ion battery packs is in electric vehicles (EVs). Analysts at Citi predict that 75% of all mined lithium will go into EVs by 2025… but cars will be the segment to focus on.
Car manufacturers have been working on a rapidly emerging new battery technology, however. Lithium will continue to play a central role. Solid state lithium batteries use a solid material rather than a potentially combustible gel. These materials are neither volatile nor combustible.
The higher energy density would increase the range of EVs by between one-third and a half with the same battery weight as a lithium-ion battery. Active stocks in the markets this week include Fisker Inc. (NYSE: FSR), Spey Resources Corp. (CSE: SPEY) (OTCPK: SPEYF), Tesla, Inc. (NASDAQ: TSLA), NIO Inc. (NYSE: NIO), Lucid Group, Inc. (NASDAQ: LCID).
Lithium may also have a future role to play in the Holy Grail of cheap, limitless, zero carbon energy: nuclear fusion. Teams around the world are working on tokamaks. This is a magnetic confinement device designed to produce controlled nuclear fusion.
The most ambitious project is the International Thermonuclear Experimental Reactor being built in France. Its target is to generate 500MW of electricity by 2035. It may take a while for solid-state batteries to be fully commercially viable. Tokamak fusion reactors are still a relatively distant prospect.
However, the central role lithium will play both in the batteries that power our tech, and increasingly our cars, will ensure its relevance for many years to come. China sees it as strategically important and has been securing its supply chain. In May 2018, Tianqi Lithium paid $4.1 billion to buy a stake of just under 25% in Chile’s SQM, the world’s second largest producer.
Spey Resources Corp. (CSE: SPEY) (OTCPK: SPEYF) BREAKING NEWS: Spey Resources COMMENCES DRILLING AT CANDELLA II PROJECT ON INCAHUASI SALAR, ARGINTINA – Spey Resources Corp. (“Spey” or the “Company”) is pleased to announce that Amaru Drilling is onsite at Incahuasi Salar, Argentina and will commence its 5 hole, 710m program on Monday August 30, 2021.
Brine samples from the drill holes will be collected using a double packer system and core samples will be sent to Core Laboratories, Texas USA for porosity and transmissivity testing. This data will be incorporated in the NI 43-101 report that will be completed after the drilling results are collated.
Our TEM geophysics report has identified three extensive sandy units bound by clay units that have very low resistivity values and appear to host the main aquifers. The aquifer closest to the surface is more than 1km in length and is about 75m below the surface. The sampling has shown higher concentrations at the surface on the western end of the concession.
Nader Vatanchi CEO commented:
I’m delighted with the progress our team has made and look forward to the brine analysis results from the deep drilling at Candella II next week
Why Experts Expect Lithium Supply Will Keep Growing Along With Rising Electric Vehicle (EV) Demand, PALM BEACH, Fla., August 26, 2021