Lithium
The Next Generation Power Source
The lithium market has undergone substantial growth over the past 5 years and this has resulted in a substantial increase in the Lithium price. This growth has predominately been driven by increased interest and demand for lithium-ion batteries as the next generation power source, particularly for use in environmentally friendly, electric passenger vehicles. The demand for rechargeable lithium batteries has been growing over the past decade as the mineral of choice in batteries for mobile phones, laptops, MP3 players and more recently hybrid cars.
In March 2009, the world's largest lithium carbonate producer, Chile's Chemical & Mining Co. Inc., stated that the potential demand for hybrid and electric vehicles is expected to continue to grow as electric vehicles penetrate the market, with annual demand for lithium carbonate equivalent expected to grow to 55K-65K tonnes in 2020, and 135,000-145,000 tonnes by 2030. The outlook for lithium consumption to 2013 is optimistic, particularly as lithium batteries for automotive uses are now reaching commercialization.
Lithium carbonate is predominately found in hard rock mineral deposits as well as in brines from salt lakes. Hard rock lithium minerals include spodumene, petalite and lepidolite with most economically significant concentrations of these minerals found in pegmatites which is the type of rock found in Mineral Hill's Quebec properties.
In March 2009, the world's largest lithium carbonate producer, Chile's Chemical & Mining Co. Inc., stated that the potential demand for hybrid and electric vehicles is expected to continue to grow as electric vehicles penetrate the market, with annual demand for lithium carbonate equivalent expected to grow to 55K-65K tonnes in 2020, and 135,000-145,000 tonnes by 2030. The outlook for lithium consumption to 2013 is optimistic, particularly as lithium batteries for automotive uses are now reaching commercialization.
Lithium carbonate is predominately found in hard rock mineral deposits as well as in brines from salt lakes. Hard rock lithium minerals include spodumene, petalite and lepidolite with most economically significant concentrations of these minerals found in pegmatites which is the type of rock found in Mineral Hill's Quebec properties.