Global Lithium Market Size Expected to See Strong Growth In Next Few Years Growing to $10.44 Billion In 2028

Palm Beach, FL – January 11, 2024 – FN Media Group News Commentary – The global lithium market size has grown strongly in recent years. According to a report from The Business Research Company, it will grow from $6.29 billion in 2023 to $6.92 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. South America was the largest region in the lithium market in 2023. The growth in the historic period can be attributed to the consumer electronics boom, portable electronics growth, renewable energy storage, and lithium-ion battery advancements.  The global lithium market size is expected to see strongly grown in the next few years. It will grow to $10.44 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.  The report added: “The growth in the forecast period can be attributed to continued growth in electric vehicles, renewable energy expansion, government initiatives and incentives, smart grid development, and increasing energy storage capacity. Major trends in the forecast period include advancements in lithium technologies, solid-state lithium batteries, diversification of lithium sources, integration of lithium in aerospace, and decentralized energy solutions.  An increase in smartphone adoption is expected to propel the growth of the lithium market going forward. A smartphone refers to a cellular phone with a built-in computer and other functionality not previously present in phones, such as an operating system (OS), web browsing, and the ability to run software programs. Smartphones play a significant role in the lithium market by driving demand for lithium-ion batteries, which are essential for these devices, contributing to the growth of the lithium industry… Therefore, the increase in smartphone adoption is driving the growth of the lithium market.   Active mining stocks in the markets this week include:  Lithium South Development Corporation (OTCQB: LISMF) (TSX-V: LIS), Livent Corporation (NYSE: LTHM), American Lithium Corp. (NASDAQ: AMLI) (TSX-V: LI), Lithium Americas (Argentina) Corp. (NYSE: LAAC) (TSX: LAAC), Sigma Lithium Corporation (NASDAQ: SGML) (TSX-V: SGML).


The report continued: “The increasing demand for electric vehicles is expected to propel the growth of the lithium market going forward. An electric vehicle is a type of automobile that is powered by electricity, typically through one or more electric motors, rather than an internal combustion engine that relies on gasoline or diesel fuel. Lithium is an essential element in electric vehicles (EVs) due to its role in lithium-ion batteries, which are pivotal for storing the energy necessary to power EVs, facilitating the shift towards sustainable transportation… Therefore, the development of electric vehicles is driving the growth of the lithium market.”


Lithium South Development Corporation (OTCQB: LISMF) (TSX-V: LIS) Announces Cooperative Development Agreement with POSCO Argentina SAU on HMN Li Project – Lithium South Development Corporation is pleased to announce a landmark agreement with POSCO Argentina SAU, a wholly owned subsidiary of South Korean industry giant, Pohang Iron and Steel Company (POSCO).  The newly signed Cooperative Development Agreement marks a significant milestone in the Company’s progression towards lithium production, setting the stage for an innovative collaboration in the development of the Hombre North Lithium Project (HMN Li Project), located in Salta Province, Argentina.


Spanning 3,287 hectares, the HMN Li Project is comprised of five key claim blocks: Alba Sabrina (2089 hectares), Natalia Maria (115 hectares), Viamonte/Norma Edith (595 contiguous hectares), Gaston Enrique (55 hectares), and Tramo (383 hectares).


The Viamonte and Norma Edith contiguous claim blocks are located in an area of dual jurisdiction whereby both POSCO (Catamarca Province) and Lithium South (Salta Province) hold claims to the same ground but in different provinces.  Preliminary data suggest that the Norma Edith and Viamonte area holds significant potential to bolster the scope of the HMN Li Project.


In the spirit of finding a solution, to enable both companies to access the potential brine in this area, and to avoid a lengthy, costly, and uncertain legal undertaking, Lithium South and POSCO have agreed to collectively develop the Norma Edith and Viamonte claim blocks and share the brine produced on a 50/50 basis.  This agreement represents a pivotal solution to the historical provincial title issue, showcasing a spirit of partnership and pragmatism.  The agreement will be subject to other legal undertakings and regulatory approvals as required.


Company President and CEO, Adrian F. C. Hobkirk is quoted, “We are immensely pleased to join forces with POSCO, a leader in lithium and steel production.  This partnership is a step forward for both companies.  Together, we’re paving the way for rapid advancement in lithium extraction and sustainable energy solutions.”    CONTINUED….  Read this release for the Lithium South news at:


Other recent mining developments in the markets include:


ILiAD Technologies, LLC and Livent Corporation (NYSE: LTHM) recently announced an agreement whereby Livent has acquired a minority stake in the parent company of ILiAD Technologies.  ILiAD Technologies’ parent company is a subsidiary of EnergySource Minerals (ESM), a leading developer of lithium projects in the Salton Sea Known Geothermal Resource Area in California.  ILiAD Technologies will seek to commercialize and continue to develop the ILiAD (Integrated Lithium Adsorption Desorption) technology platform.


ILiAD uses an innovative direct lithium extraction (DLE) technology that was developed over seven years of research and pilot testing by ESM.  This highly efficient and flexible extraction technology can be used to recover high-purity lithium chloride from lithium-laden brine resources around the world, including brine from salars, produced water, geothermal brine operations, and other lithium resources.


Lithium Americas (Argentina) Corp. (TSX: LAAC) (NYSE: LAAC) and a new Lithium Americas Corp. (“Lithium Americas (NewCo)”) recently jointly announced the completion of the reorganization of Lithium Americas into two independent publicly traded companies, implemented by way of statutory plan of arrangement (the “Separation”).


“We look forward to seeing these two market-leading companies thrive independently,” said Jonathan Evans, President and CEO of Lithium Americas (NewCo) and former President and CEO of Lithium Americas. “The Separation offers investors two unique and highly focused pure-play lithium companies with world-class assets in our respective regions of operation.”


“I am extremely proud of the Lithium Argentina and Lithium Americas (NewCo) teams for their hard work and dedication in redesigning these companies with the right management teams and resources to flourish independently,” said John Kanellitsas, Executive Chairman, President and Interim CEO of Lithium Argentina and former Executive Vice Chair of Lithium Americas. “The closing of this Separation is a pivotal moment in allowing each company to sharpen its focus and pursue independent and unique growth opportunities within the lithium industry.”


Sigma Lithium Corporation (NASDAQ: SGML) (TSX-V: SGML), a leading lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, Quintuple Zero Green Lithium concentrate, recently announced one last shipment of 22,000 tonnes of concentrate to Glencore at the Port of Vitoria.


Glencore will prepay 50% of the fifth shipment’s value upon completion of loading. The 50% prepayment reflects a provisional premium price for the Company’s unique Quintuple Zero Green Lithium concentrate.


Sigma Lithium has completed an incredible journey over the past twelve months, having gone from commissioning the crushing unit in December of 2022 on schedule and on budget, to sustaining nameplate production levels at its Greentech lithium concentrate plant in December 2023. Operating rates at these levels would support a monthly shipment cadence of roughly 22,000 tonnes through the course of 2024, annualizing approximately 270,000 tonnes of Quintuple Zero Green Lithium concentrate.


American Lithium Corp. (NASDAQ: AMLI) (TSX-V: LI) recently announced that it has filed the independent National Instrument 43-101 Technical Report on the updated Mineral Resource Estimate (“MRE”) for the Falchani Lithium Project (“Falchani”) located in Southwestern Peru and as announced on October 31, 2023. The MRE and Technical Report were completed by Stantec Consulting Services Inc. (“Stantec”), which established a much larger lithium resource base which will form the basis of an updated preliminary economic assessment on the Falchani (“PEA”). The MRE has been incorporated into the Mine Plan within the PEA, which is currently being finalized by DRA Global and will be announced shortly.


Simon Clarke, CEO of American Lithium, states, “We continue to make excellent progress at Falchani and this very large increase and reclassification of the Falchani Resource follows a very successful drill program completed Q3, 2023. With the Deposit still open in numerous directions, we expect the scale of the Project and the size of the Resource to continue to grow. The increase in resource feeds directly into the updated PEA on Falchani, which is currently being finalized and will be released shortly, and into the ongoing Pre-Feasibility Study.”


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