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Editorial Coverage: New manufacturers are joining the race to
design electric vehicles, accelerating a revolution in the car
market that could result in strong lithium demand as a battery
ingredient. Standard Lithium (TSX.V: SLL) (OTC:
STLHF) (STLHF
Profile) is one of several companies that are
innovating to meet this demand scenario by developing new
technology that could unlock a major supply source untapped in
Arkansas. Major producers Sociedad Química y Minera de
Chile (NYSE: SQM) and Albemarle Corp. (NYSE:
ALB) have already got permission by the Chilean government
to carry out major expansions in the Atacama Desert to expand
supply for the EV market. MGX Minerals, Inc. (CSE:
XMG)(OTC: MGXMF) is working to develop a means to separate
minerals from oilfield waste in order to meet surging demand from
EV manufacturers such as Tesla, Inc (NASDAQ:
TSLA).
To view an infographic of this editorial, click here
The EV revolution has enticed many new entrants into the market,
including Dyson, a UK maker of vacuum cleaners and hair dryers. The
company recently announced it is planning to launch an EV in 2020
to compete with Tesla. Dyson’s £2.6 billion investment involves the
construction of a UK plant that will be used to develop solid-state
lithium-ion batteries. The UK company has already spent £84 million
($109.5 million) on a test facility at a former airfield in
southwest England.
Dyson’s move into the EV market includes the acquisition of a
solid-state battery start-up that was created by Ann Marie Sastry,
a professor at the University of Michigan. The battery can
reportedly produce energy at 400 watt-hours per kilogram (Wh/kg), a
higher rating than the batteries Panasonic provides for Tesla,
Inc., which produce 240Wh/kg. Research and development into
solid-state battery technology has been growing because the
technology enables higher energy densities than today’s technology
without overheating. This means that the batteries can charge cars
quickly without losing capacity. Solid-state batteries also utilize
lithium in large quantities, which could create an opportunity for
companies such as Standard
Lithium (TSX.V: SLL) (OTC: STLHF).
The price of lithium has almost doubled in the past two years
thanks to an industry-wide move towards electric vehicle
production. Lithium-ion batteries are projected to take over the
industry, as EV production could rise from 1.1 million
vehicles in 2017 to 11 million in 2025. According to Roskill, this increase in EV production could result
in a 650% increase in lithium demand by 2027, an expansion that
will require lithium producers such as Standard Lithium to increase
capacity.
Powering the EV Revolution
Governments around the world are also beginning to recognize the
move towards electric vehicles. Indian Prime Minister Narendra Modi
announced on September 7 that his government will prioritize the
development of EVs to limit climate change and cut the country’s
oil import bill. India is the world’s third-largest oil importer;
however, the nation’s recent progressive moves could provide a
unique opportunity for further EV development. Suzuki Motor Corp.
has already recognized this trend, with the intention to start road
tests of EVs this year to introduce a new vehicle in India by
2020.
Most of the world’s top automakers are also working on EV
designs. Porsche AG, Volkswagen Group, Jaguar Cars, Nissan Motor
Co., Audi AG and Mercedes-Benz are all planning new models, all of
which will require far more lithium than their internal combustion
engine predecessors. General Motors is so convinced by the pending
EV boom that they’ve begun adapting the technology found in the
Chevy Bolt to design two new models. This trend towards EV designs
could benefit junior miners such as Standard Lithium, which can
quickly provide battery-quality lithium to consumers.
Standard Lithium is developing a major untapped lithium resource
in Arkansas by using an innovative production process that could
drastically reduce production time. The team at Standard Lithium
saw the opportunity to apply a “moneyball” approach to its Arkansas
resource, opting to sign partnerships with two major chemical
producers to leverage existing infrastructure and create a
fast-track towards production.
Smackover Offers Shortcut to Major Lithium
Source
The unusual feature about the Smackover, Arkansas, lithium
brines is that they are already being extracted from the ground by
giant chemical producers including Albemarle and German producers
Lanxess AG and Tetra Technologies. The chemical industry extracts
about 9.4 billion U.S. gallons of brine per year and is the world’s
largest supplier of bromine to industries around the world.
Currently, Albemarle and Lanxess extract the bromine and discard
the leftover residue, including the lithium. That lithium resource
has been indicated as one of the world’s biggest, according to the
U.S. Geological Survey.
Standard Lithium signed an agreement with Tetra Technologies for
the largest available brine lease package. The 30,000 acres of
brine leases are located in a key brine production fairway in
southern Arkansas, adjacent to producing Albemarle leases. Previous
drilling reports indicate brine on Standard Lithium sites to be
between 350–450 mg/L, a number competitive with similar lithium
projects in Argentina.
The Vancouver-based lithium miner followed up its Tetra
agreement with a second deal involving the region's largest
operator Lanxess. This second agreement allows Standard Lithium to
locate and operate a pilot plant at one of Lanxess’ three
facilities in southern Arkansas for the purpose of demonstrating
the commercial viability of lithium extraction from brine (“tail
brine”) that is produced as part of Lanxess’ bromine extraction
business.
Lanxess’ land operations in southern Arkansas encompass more
than 150,000 acres, 10,000 brine leases and surface agreements, and
250 miles of pipelines. Lanxess extracts the brine from its wells
located throughout the area, and the brine is transported to the
three Arkansas plants through a network of pipelines. The three
bromine extraction plants currently employ approximately 500
people, and process and reinject several hundred thousand barrels
of brine per day.
As noted in a recent press release, Standard Lithium is ready for procurement and fabrication of its rapid
lithium extraction demonstration plant, unlike other companies that
are developing new “black box” methods of lithium extraction.
Standard Lithium’s approach is to work backwards and have the
project drive the process. The company’s Scientific Advisory Board,
which includes a Nobel Prize winner, has developed its proprietary
process to work most effectively and economically at the project
level.
The company’s lithium extraction Mini-Pilot Plant has been
operating continuously for long durations and has demonstrated that
lithium can be selectively extracted from raw Smackover brine
(i.e., with no pre-treatment other than pH adjustment). The lithium
can then be converted into a concentrated and substantially
purified (compared to the feed brine) lithium chloride solution.
The Mini-Pilot Plant has also proven that the lithium-loaded
sorbent material can be continuously regenerated and recycled to
the extraction stage, achieving overall lithium extraction
efficiencies of over 90%. Once fabrication of the modular Pilot
Plant is complete, it will be shipped to the project site in
southern Arkansas for installation, commissioning and
operation.
Faster Extraction Technology
Standard Lithium’s innovative approach to lithium extraction
could be a significant breakthrough for the company. The majority
of lithium supplies are currently found in the “lithium triangle”
of Bolivia, Argentina and Chile, but the Smackover Formation
represents a new opportunity for those capable of perfecting this
new technology.
New lithium projects such as mines or salt lake extraction
facilities typically take anywhere from several years to a decade
to develop. For example, Australian start-up Orocobre took five
years to achieve its first production at its Olaroz site in
northern Argentina. The company is still fine-tuning the quality of
the lithium carbonate extracted at Olaroz to meet the exact
requirements of battery manufacturers.
As mining companies rush to develop new lithium resource
projects, companies that are capable of leveraging existing
infrastructure, such as Standard Lithium, could rapidly accelerate
the development process.
Main Industry Participants
Sociedad Quimica y Minera de Chile (NYSE: SQM)
is carrying out a major expansion to its main producing assets in
Chile’s Atacama Desert, ensuring its status as one of the world’s
largest lithium producers in years to come. SQM has been developing
new lithium assets in both Argentina and Australia, in anticipation
of an exponential increase in demand from the automotive
industry.
Albemarle Corp. (NYSE: ALB) operates
Greenbushes, the world’s largest lithium operating mine, near
Perth. The U.S. company also received a permit from the Chilean
government to carry out a major expansion to its productive asset
in the Atacama Salt Flats. Albemarle expects to boost output to
143,000 metric tons a year starting in 2021. Albemarle is also a
bromine producer in Arkansas and is working on technology to
separate lithium found in the bromine brine.
Tesla, Inc (NASDAQ: TSLA) could become one of
the world’s largest users of lithium as it prepares the
construction of a so-called gigafactory in Nevada. Tesla is
adopting an integrated approach to producing EVs and is one of the
few car manufacturers to become directly involved in making
electric lithium-ion batteries. Besides car batteries, Tesla built
the world’s largest lithium-ion battery, which is connected to the
Australian energy grid and currently supplies 30,000 homes with
power for one hour.
MGX Minerals, Inc. (CSE: XMG) (OTC: MGXMF) is
applying a water treatment process to recover minerals from
wastewater brine accumulated in the production of oil and gas.
Canada-based MGX has secured over 2 million acres of brine-bearing
formations in North America to test its technology, according to a
company presentation. MGX said it has successfully extracted
minerals from oilfield brines in a proprietary process.
Please also read and review the following article: Will Access to
“World Class” Lithium Brine Resource Send This Lithium Miner’s
Value Soaring?
For more information on Standard Lithium Ltd., visit Standard Lithium
Ltd. (TSX.V: SLL) (FRA: S5L) (OTC: STLHF)
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