UBS is bullish on the impact of EV on lithium mining as EV or electric vehicles take a larger share of the new car market. Analysts see a 10% price hike for lithi– um products in 2021and UBS predicts that electric vehicles will make up 40% of all new vehicle sales by 2030 worldwide, as reported by the Sydney Morning Herald. The result: more competition for lithium mine supplies, with the metal a key ingredient in lithium-ion batteries for EV. First Energy Metals Limited (OTC: ASKDF) is committed to lithium mining, entering an option agreement to acquire the Augustus lithium exploration property in Quebec amid a spike in activity in the lithium mining market of 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 PLL, Lithium Americas (NYSE: LAC), Livent LTHM, Pilbara PILPF, American Battery Metals
ABML, Tesla TSLA, Sayona Mining (ASX: SYA), General Motors GM, Albemarle ALB, Sociedad Quimica y Minera SQM and Power Metals PWRMF.
UBS Says Electric Vehicles Will Make Up 40% Of New Vehicle Sales By 2030, Driving An Increase In Lithium Demand And Analysts See A 10% Price Hike In 2021; First Energy Metals Limited ASKDF Enters Option Agreement To Acquire Augustus Lithium Exploration Property In Quebec
The newspaper report quotes analysts as predicting that lithium products — in- cluding spodumene, carbonate and hydroxide — will jump in price by 10% in 2021, pressured by the increasing demand from EV for lithium-ion batteries. UBS says that demand will only continue to grow AS EV vehicles take 40% of the new vehicle market by 2030. UBS Says Electric Vehicles Will Make Up 40% Of New Vehicle Sales By 2030, Driving An Increase In Lithium Demand And Analysts See A 10% Price Hike In 2021; First Energy Metals Limited ASKDF Enters Option Agreement To Acquire Augustus Lithium Exploration Property In Quebec.
Keith Brinsden, CEO of Pilbara Minerals, one of Australia’s largest lithium miners,
sees a resurgence in demand and pricing in 2021 towards the end of this year. Australia is the world’s top exporter of lithium — accounting for 55% of supply — which it ships primarily to China for processing. He says that worldwide demand sits at about 300,000 tons of lithium-carbonate equivalent(LCE). Brinsden projects, The Sydney Morning Herald reported, that ithium demand will triple by 2025 and double again through 2050.
ASKDF Enters Into Lithium Mining Option Agreement In Quebec
ASKDF is a Canadian mineral exploration company. First Energy Metals Limited ASKDF 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 similar to the Quebec Lithium mine, the Company said. There are also several mines nearby, including the Mine Quebec Lithium and Authier Lithium, owned by Sayona Mining of Australia, and others.
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. UBS Says Electric Vehi- cles Will Make Up 40% Of New Vehicle Sales By 2030, Driving An Increase In Lithium Demand And Analysts See A 10% Price Hike In 2021; First Energy Met- als Limited ASKDF Enters Option Agreement To Acquire Augustus Lithi- um Exploration Property In Quebec.
Quebec Emerges As Center Of Lithium Mining
Quebec is emerging as a center of lithium mining, given its abundant mineral re- sources. In this region, ASKDF said, there are more than 50 million tons of at 1% lithium oxide. It is also located close to major U.S. and European electric vehicle markets. Quebec is also home to major mining concerns and to first class in- frastructure. This week, Sayona Mining (ASX: SYA) announced that in late win- ter it would invest $2 million in a new drilling project in Western Quebec at its flagship Authium and Tansim Lithium projects. The move will increase by some 30% the lithium drilling in those locations and is seen as the Company boosting its lithium resources in the Quebec market
Quebec is becoming a growing and important lithium hydroxide production cen- ter. UBS Says Electric Vehicles Will Make Up 40% Of New Vehicle Sales By 2030, Driving An Increase In Lithium Demand And Analysts See A 10% Price Hike In 2021; First Energy Metals Limited ASKDF Enters Option Agree- ment To Acquire Augustus Lithium Exploration Property In Quebec.
Allied Market Research sees the lithium ion battery market reaching $129.3 bil– lion by 2027, growing at a CAGR of some 18% from 2020-2027. Lithium-ion bat- teries are rechargeable with high-energy density and are used in portable equip- ment. They are critical for electric EV cars, electronics, smartphones, PC com- puters and commercial construction equipment, according to the Allied Market Research report.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and compa-
ny profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Contact:
Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com https://twitter.com/PressStock
Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking state- ments include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projec- tions about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ mate- rially from what is expressed or forecasted in forward-looking statements due to numerous fac- tors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: http://stockmarketpress.com/disclaimer/ SOURCE: Stock
Market Press
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
