NetworkNewsWire Editorial Coverage: Growing demand for powerful batteries, coupled with attempts to break China’s hold on the market, are leading to growth for Canadian lithium explorers.
- Lithium is essential for batteries used in personal electronics and electric vehicles.
- The recent rise of electric cars, together with faster than expected production of other electric vehicles, is creating a huge rise in demand.
- The market’s current top global suppliers are China and Chile.
- Emerging companies in Canada are starting work on alternative sources of lithium that could reduce reliance on these two countries.
One of the companies setting up new Canadian mines is QMC Quantum Minerals Corp. (OTC: QMCQF) (TSX.V: QMC) (FSE: 3LQ) (QMCQF Profile), which is using existing infrastructure in Manitoba to quickly get production up and running. Albemarle Corp. (NYSE: ALB), the world’s largest lithium manufacturer, has seen a surge in production that has almost doubled its earnings. Nemaska Lithium, Inc. (OTC: NMKEF) (TSX: NMX) is setting up mining and processing facilities in Canada as well as establishing supply agreements for when that work is completed. Sociedad Quimica y Minera S.A. (NYSE: SQM) is diversifying its lithium production, adding mining to brine extraction operations. All of this is driven by the work of…
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