- Increasing electric vehicle output drives lithium demand
- Room to grow, with electric vehicle segment still less than one percent of auto market
- QMC Quantum Minerals is one of just a handful of North American lithium miners
With over one million electric vehicles now crisscrossing roads around the globe, it’s going to take more than a bunny beating a drum to keep them going. If the 70 kWh battery pack inside the Tesla Model S is anything to go by, each EV of around the same size will require about 60-65 kilograms (132-143 lbs.) of lithium. That’s an awful lot of lithium, and, even though reserves of the mineral are more than adequate, getting it out in time is posing a problem. As a result, North American automakers are scrambling to ensure security of supply and may soon be turning to QMC Quantum Minerals Corp. (TSX.V: QMC) (FSE: 3LQ) (OTC: QMCQF). The junior exploration company is preparing to mine lithium at Cat Lake, Manitoba. The Irgon Lithium Mine Project property hosts several rare-element granitic pegmatite occurrences, one of which is the Irgon Lithium Mine Dike. The Irgon Dike has a published, historical, non NI43-101 compliant, near surface resource of 1.2 million tons of 1.51 percent Li2O.
Demand for lithium continues to grow, driven by increasing adoption of electric vehicles and the ubiquitous use of portable devices such as smartphones, tablets, laptops and fitness watches. The metal is an essential component of the…
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