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Demand Climbs as Global Lithium Market Size Expected to Reach $9.03 Billion in 2024

Palm Beach, FL – April 2, 2024 – FN Media Group News Commentary – Experts see that all indications are that the Lithium market will continue to rise past 2030. A report from Grand View Research said that revenues will reach USD 9.03 billion in 2024 and the Increasing investments in EV manufacturing across the world are expected to positively influence the growth of the lithium market over the forecast period (2024 to 2030).  The report continued: “U.S. holds major significance in battery production after China, which makes it one of the key lithium-consuming countries in the world. The country has huge reserves of this important metal. According to USGS, lithium resources from brines and minerals accounted for 7.9 million tons in U.S., in 2022.  Market players in U.S. are focusing on getting a hold on the battery supply chain due to increasing production of EVs in the country and as transportation of batteries is dangerous. In 2018, Interior Department listed lithium as a critical mineral, which paced up the mine permitting process.  In January 2021, the Bureau of Land Management approved Thacker Pass Mine proposed by Lithium Nevada Corporation. This mine is believed to serve as the largest source of commodity supply in U.S. and is expected to be able to produce about 60 kilotons of battery-grade carbonate by 2026.”  Active mining stocks in the markets this week include:  Lithium South Development Corporation (OTCQB: LISMF) (TSX-V: LIS), Lithium Americas (Argentina) Corp. (NYSE: LAAC) (TSX: LAAC), Standard Lithium Ltd. (NYSE American: SLI) (TSX-V: SLI), American Lithium Corp. (NASDAQ: AMLI), Arcadium Lithium plc (NYSE: ALTM).


Grand View Research continued: “The market is characterized by a high degree of innovation to optimize both the manufacturing process, and also obtain high purity lithium. Players have invested in R&D heavily to optimize the usage of lithium in high-growth end use segments such as electric vehicles. Manufacturers have been focusing on developing and innovating new products by improving their production process.  The market observed moderate levels of merger and acquisition (M&A) activity owing to stringent regulations with respect to mining rights and heavy competition. Players in this industry generally have resorted to backward or forward integration as their growth strategy.”  It added: “The consumer electronics application segment is estimated to register the fastest CAGR of more than 17.2%, in terms of revenue, from 2024 to 2030. This segment is projected to grow owing to the increasing sales of electronic devices, such as mobile phones, laptops, cameras, portable radios, speakers, and Mp3 players, which make use of Li-ion batteries.”


Lithium South Development Corporation (OTCQB: LISMF) (TSX-V: LIS) Anticipates High-Yield Potential in PW23-AS-02 Pumping Well – Lithium South Development Corporation (the “Company” or “Lithium South”) (Frankfurt: OGPQ) is pleased to announce the commencement of development activities for pumping well PW23-AS-02, located within the Alba Sabrina tenement. The Alba Sabrina claim is the largest of the five, salar located claim blocks which total 3,287-hectares of the 5,687-hectare Hombre Muerto North Lithium Project (“HMN Lithium Project”) package. Pumping well PW23-AS-02 has been completed to 400 meters of depth and is being prepared for a long-term pumping test.


Initial assessments suggest the well could be highly productive. Emergence, which is brine surging out of the hole, has been observed. This early indication is a promising sign for brine production potential.


The planned installation of a custom-made metal capsule, functioning as a valve to control upwelling, further underscores the anticipation of substantial brine production. Implementing this valve highlights our proactive approach to managing the well’s emergent behavior, indicative of its expected high yield. A 20 HP pump set is to be deployed to a depth of approximately 58 meters, which aligns with the presence of the first filter in order to optimize brine pumpability. As the pumping operation commences, adjustments to pump capacity or depth may be made to maximize brine extraction.


“We are very pleased with our results to date and await further information from this wells performance,” stated Adrian F. C. Hobkirk, Founder, President & CEO.


Upon long-term pump test completion of well PW23-AS-02, a pumping well is planned to be drilled on either the Viamonte or Norma Edith claim blocks south of Alba Sabrina.  Continued development success and our Preliminary Economic Assessment Financial Model, published on March 04, 2024, has brought attention to the Company. Management is reviewing potential industry alliances or other potential business transactions and will apprise the shareholders of any developments.


Mr. William Feyerabend, CPG, a Consulting Geologist and Qualified Person under National Instrument 43-101, participated in the production of this news release and approves the technical and scientific content contained herein.  CONTINUED….  Read this release for the Lithium South news at:


Other recent mining developments in the markets include:


Lithium Americas (Argentina) Corp. (NYSE: LAAC) (TSX: LAAC) recently announced fourth quarter and full year 2023 results, as well as its 2024 outlook.  Commenting on the results for the twelve-month period ended December 31, 2023, John Kanellitsas, Executive Chairman, Lithium Argentina commented:


“Last year was a milestone year for Lithium Argentina, with the commencement of operations at the Caucharí-Olaroz site in Argentina. This achievement was the culmination of years of hard work, dedication and determination, and an over $ 1 billion investment into Northern Argentina. I am proud of the cross-cultural team that came together to diligently progress Caucharí-Olaroz, making it the success it is today. Additionally, last year Lithium Argentina closed on the acquisition of our majority stake in the Sal de la Puna project and completed the spin-off of our North American assets. I am confident that the great work that has been done to date, will be the foundation for great achievements for the Company in the future”.


Mr. Kanellitsas closed by saying, “I am honored to welcome Sam Pigott as President and CEO, his 20 plus-years of experience in mining, finance and business development will be invaluable to the Company and I look forward to working with him in my continued role as Executive Chairman”.


Standard Lithium Ltd. (NYSE American:SLI) (TSX-V:SLI), a leading near-commercial lithium development company, recently announced that it has successfully installed a commercial-scale Direct Lithium Extraction (“DLE”) column at its Demonstration Plant near El Dorado, Arkansas. The column is a LiPRO™ Lithium Selective Sorption (“LSS”) unit, supplied by Koch Technology Solutions, LLC (“KTS”).


The column has been installed and integrated with the Company’s existing Demonstration Plant to test and derisk the design for commercial applications of the LiPRO™ LSS technology. It is the same size and design as those that the Company intends to use (in multiple trains) in its commercial applications for the Phase 1A and South West Arkansas projects (as described in the Company’s recent Definitive Feasibility Study for the Phase 1A project and Preliminary Feasibility Study for the South West Arkansas project).


American Lithium Corp. (NASDAQ:AMLI) recently announced the appointment of the former Deputy Minister of Mines, Augusto Cauti, as a Strategic Corporate Advisor in relation to its Peruvian Operations.


Mr. Augusto Cauti is a seasoned mining executive who served as Deputy Minister of Mines of Peru in 2019-2020. He was previously an executive director of the Australia-Peru Chamber of Commerce (2015-2019) and General Counsel for Pan American Silver Peru (2006-2013). A lawyer by profession, educated in Peru (Pontifical Catholic University of Peru -PUCP) and in the USA, Mr. Cauti holds a certificate in the American legal system from Georgetown University, and a Master of Business Law from Duke University. Mr. Cauti is an experienced professional providing strategic business relations, access to markets and business development advice in the Andean markets.


Additionally, the Company has commenced a major technical / social initiative on the Macusani Plateau. The solar electrification program is a jointly run initiative with the Peruvian Armed Forces, which involves the installation of solar panels in remote homes that lack electricity.


Arcadium Lithium plc (NYSE: ALTM) recently reported results for the fourth quarter and full year of 2023 for Livent Corporation (“Livent”) and provided select results for Allkem Limited (“Allkem”).  The 2023 Form 10-K to be released by Arcadium Lithium will only include the historical results of Livent’s operations since the merger closed after December 31, 2023.


Full calendar year 2023 revenue for the combined company on a pro forma basis was $2.0 billion.  Arcadium Lithium expects to provide additional calendar year 2023 pro forma financials early in the second quarter of 2024 and will release combined results for the new company beginning with the first quarter of 2024.


“We are excited to officially begin operating as Arcadium Lithium, leveraging the strengths of two highly complementary organizations and continuing to grow as one of the leading producers of lithium chemicals globally,” said Paul Graves, president and chief executive officer of Arcadium Lithium.  “While lithium and energy storage market dynamics have changed considerably since our merger announcement in May, the underlying strategic merits of the transaction remain compelling.  As a larger, more diversified and vertically integrated company, we are better positioned to meet the needs of our customers and have even greater flexibility to take advantage of opportunities available throughout market cycles.”



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