- World demand for lithium expected to increase 300% by 2025
- Global lithium compounds market projected to reach U.S. $5.87 billion by 2020
- Electric vehicles are on track to take 54% of new car sales by 2040
- Exploration of Bristol Lake Project reveals excellent lithium-bearing brine harvest potential
Standard Lithium Ltd. (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF), a Canadian energy exploration and development company, is aggressively working to fill the increasing demand for lithium as it focuses on its Bristol Dry lake lithium brine project located in California’s Mojave Desert. As a junior mining company, Standard Lithium is building one of the largest portfolios of high quality, domestic U.S. lithium brine assets.
Bloomberg New Finance reports the global long-term outlook for electric vehicles is moving faster than the firm predicted a year ago. EVs are on track to accelerate to 54 percent of new car sales by 2040 as more countries around the world seek alternatives to the internal combustion engine and the resulting pollution they cause. In fact, the dynamics at play for lithium growth run the gamut as the future of transportation and energy efficiency accelerate the need for more of the world’s lightest metal.
Standard Lithium’s geophysics team recently concluded a comprehensive gravity survey over the company’s entire Bristol Dry Lake Lithium Project containing 35,000 acres of placer mineral claims and private property. Initial interpretation of the data indicate that high concentrations of lithium-bearing brines are present throughout the company’s mineral lease agreement claims.
Key to the project’s success is the area’s excellent mining infrastructure that tackles the primary challenges facing lithium mining – access and cost-effective production. Through a strategic partnership with two permitted brine operators, National Chloride Corporation of America (NCAA) & TETRA Technologies (TETRA) , Standard Lithium has immediate access to conduct exploration brine sampling, evaporation and lithium processing activities, enabling a fast-track project development schedule.
In addition to the Bristol Lake Brine Project, Standard Lithium has signed a Letter of Intent with a NYSE-listed chemical processing company for 30,000-plus acres of brine leases in the Smackover Formation within southern Arkansas. This brine resource may be one of the lithium industry’s most promising projects to develop, SLL management believes. As world demand for lithium continues to grow, so does Standard Lithium’s determination to be a major player in the lithium compounds market.