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The Race To Find More Lithium: Mining For Key Metal In Lithium-Ion Batteries For Electric Cars Means Higher Prices And More Exploration; First Energy Metals Limited (OTC: ASKDF) Sets Phase 1 Work At Its Augustus Lithium Property In Quebec

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The mining race to find more lithium, the key metal in Lithium-Ion Batteries that power electric cars, means higher prices this year and more exploratory mining in hot spots such as Quebec, Canada in North America. As prices rise for lithium as demand grows, First Energy Metals Limited (OTC:ASKDF) is readying Phase 1 work beginning next week as its recently acquired Augustus Lithium Property In 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 (NASDAQ:PLL), Lithium Americas (NYSE:LAC), Livent (NYSE:LTHM), Pilbara (OTC:PILPF), American Battery Metals (OTC:ABML), Tesla (NASDAQ:TSLA), Albemarle (NYSE:ALB), Sociedad Quimica y Minera (NYSE:SQM) and Power Metals (OTC:PWRMF).

The Race To Find More Lithium: Mining For Key Metal In Lithium-Ion Batteries For Electric Cars Means Higher Prices And More Exploration; First Energy Metals Limited (OTC:ASKDF) Sets Phase 1 Work At Its Augustus Lithium Property In Quebec

Lithium specialists worldwide — in Australia and China — say that the landscape is brighter for lithium pricing and demand in 2021. Analysts forecast up to a 10% price hike this year. UBS sees electric cars taking up to a 40% share in new car sales by 2030, driving more lithium demand.  According to site Benchmark Mineral Intelligence, lithium prices jumped some 40% in January 2021 within China due to battery demand for electric vehicles.

An analysis by that specialty site this week said January 2021 prevailing transaction lithium carbonate prices within China increased by 41.35% to $8,375 per ton. The midpoint prevailing transaction for lithium carbonate, battery grade, rose within China by 41.04% to $9,450 per ton. According to George Miller, Lithium Analyst at Benchmark, "Lithium ion battery related policy incentives in China are geared to shorter-range vehicles, public transport fleet electrification, 5G power stations, all of which encourage LFP consumption."

The Benchmark Mineral Intelligence site inferred that with demand coming from more electric vehicle production and as EV and energy storage supply chains scale, there may be more of the same ahead. Lithium Investing News believes that the lithium market will be balanced but higher priced in 2021, with heightened demand from the EV sector having a direct impact.

First Energy Metals Limited’s (OTC:ASKDF) Phase 1 Work At Quebec Property To Begin Next Week

First Energy Metals Limited’s (OTC:ASKDF) Phase 1 scope of work at the Augustus Lithium Property in Quebec it recently acquired includes historical surface sampling results on three known historical lithium and silver prospects, to develop future exploration projects and to confirm the location of historical drill holes. The Race To Find More Lithium: Mining For Key Metal In Lithium-Ion  Batteries For Electric Cars Means Higher Prices And More Exploration; First Energy Metals Limited (OTC:ASKDF) Sets Phase 1 Work At Its Augustus Lithium Property In Quebec.

The Company has already acquired data for 62 drill holes with over 10,000 meters drilling carried out on the property since the early 1950's. First Energy Metals Limited (OTC:ASKDF) is a Canadian minerals exploration company It announcement yesterday its planned Phase 1 exploration work at the Augustus Lithium Property it recently acquired comes amidst peak activity of lithium mining in the Quebec area and the rebound seen by analysts in lithium pricing. Car makers such as Tesla Inc. (NASDAQ:TSLA) see the urgency in finding more lithium sources for the future as electric cars gain more market share worldwide. UBS believes that electric vehicles will represent up to 40% of all new car sales by 2030. As a result, lithium demand is expected to jump.

First Energy Metals Limited (OTC:ASKDF) is now moving aggressively to begin next week Phase 1 exploration work on the Augustus Lithium Property it acquired. The goal of the company is to acquire a technology and precious metals portfolio by identifying, acquiring and exploring North American mineral deposits.

Its strategy is also to source joint venture partners to finance future exploration, create shareholder value and advance projects through prospecting and early-stage exploration.

ASKDF Enters Into The Option Agreement

First Energy Metals Limited (OTC:ASKTF) 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.

Lithium-Ion Battery Market Seen Reaching $129.3 Billion By 2027

Allied Market Research sees the lithium ion battery market reaching $129.3 billion by 2027, growing at a CAGR of some 18% from 2020-2027. Lithium ion batteries are rechargeable with high-energy density and are used in portable equipment. They are critical for electric EV cars, electronics, smartphones, PC computers and commercial construction equipment, according to the Allied Market Research report. The Race To Find More Lithium: Mining For Key Metal In Lithium-Ion  Batteries For Electric Cars Means Higher Prices And More Exploration; First Energy Metals Limited (OTC:ASKDF) Sets Phase 1 Work At Its Augustus Lithium Property In Quebec.

Quebec Emerges As Focus Of Lithium Mining

Quebec is emerging as a center of lithium mining, given its abundant mineral resources. 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 infrastructure. In this region, ASKDF said, there are more than 50 million tons of at 1% lithium oxide. The Race To Find More Lithium: Mining For Key Metal In Lithium-Ion  Batteries For Electric Cars Means Higher Prices And More Exploration; First Energy Metals Limited (OTC:ASKDF) Sets Phase 1 Work At Its Augustus Lithium Property In Quebec.

Source: Stock Market Press

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