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Demand Still Growing for Lithium Mining Market That’s Projected To Reach $516 Million In 2028

Palm Beach, FL – September 6, 2023 – News Commentary – The remarkable development in lithium production has led to the growth of its demand all over the world. Revolution in various fields, such as automobile, glass and ceramics, medical, air treatment, and polymer production, has led to industrialization and urbanization, making metal a vital development element. Mining supplies are used for batteries for electric vehicles. The growing industrialization and urbanization have given rise to the demand for power in the world. The rising functions of the digitized world require a lot of electrical power. The dependence on process automation and round-the-clock network usage has given rise to the high demand for a consistent power supply, a key driving factor for the energy storage sector.  A report from Fortune Business Insights projected that the Global Lithium Mining Market is projected to grow to USD 516.22 million in 2028 at a CAGR of 6% in the 2021-2028 period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.  The report said: “The high demand for power because of the surging urbanization and industrialization worldwide would affect growth positively. It would result in the increasing demand for lithium-ion batteries for storing the excessive energy.” Active mining companies in the markets this week include:  Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), Livent Corporation (NYSE: LTHM), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), E3 LITHIUM LTD. (OTCQX: EEMMF) (TSXV: ETL), Albemarle Corporation (NYSE: ALB).


Fortune Business Insights continued: “By source, the lithium mining industry is categorized into brine and hard rock. Amongst them, the hard rock segment is presently in the dominant position and would remain so in the upcoming years. This growth is attributable to the abundance availability of hard rock lithium reserves worldwide.  There are multiple big, small, and medium-sized companies in the lithium mining industry. But, only a handful of them are investing in developing state-of-the-art mining technologies. They are majorly striving to compete with their rivals. A few educational institutions are also joining hands with private organizations to discover novel techniques.”


Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI) BREAKING NEWS Indigo Engages Sproule for Maiden Lithium Brine Resource Estimation & Provides Market Update – Indigo Exploration Inc. (the “Company”) is pleased to announce it has awarded Sproule the contract to prepare a maiden resource estimate for the Company’s Fox Creek West lithium brine project in central Alberta. With over 70 years of operating history in over 90 countries, Sproule has established a reputation as a leader in the energy space. Specifically, within the resource estimation and certification space, Sproule completes over 250 evaluations annually in over 50 countries and recently includes the petrolithium brine resources on the Rainbow Lake project in Alberta and the Kindersley project in Saskatchewan.


The Company would also like to highlight the recent advancements from neighboring E3 Lithium Ltd. (“E3”) an emerging lithium developer in Alberta which announced last week the commencement of operation of its Direct Lithium Extraction (DLE) pilot plant. E3’s plant represents the first commercial operation of a pilot plant within the Western Canadian Sedimentary Basin (“WCSB”) targeting petrolithium brines from the same or similar aquafer reservoirs as contained within the Company’s projects. Specifically, Indigo’s Leduc-Legal project adjoins E3’s properties with both targeting the world-class Leduc Aquifer.


“The engagement of Sproule to complete our first maiden resource estimate represents the culmination of activities since last October when the Company shifted its focus to the growing lithium market” commented Paul Cowley, President & CEO of Indigo Exploration. “The resource estimate for Fox Creek West represents only the first of many maiden resource estimates we anticipate delivering and only the beginning of demonstrating the world class potential of these projects to fill the overwhelming lithium supply imbalance. E3’s efforts in demonstrating the commercial potential of the DLE application to petrolithium brine projects in Alberta paves the way for other players in the industry to unlock the value of this vast resource.”  CONTINUED… Read this and more news for Indigo Exploration at:


In other market news of interest:


Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) recently announced that shareholders have voted in favor of the separation of the Company into Lithium Americas (Argentina) Corp. (“Lithium Argentina”) and a new Lithium Americas Corp. (“Lithium Americas (NewCo)”) pursuant to a statutory plan of arrangement (the “Separation”) at the Company’s annual general and special meeting of shareholders held today (the “Meeting”). The Separation was approved by 98.85% of the votes cast by shareholders present or represented by proxy at the Meeting, as well as 98.78% of the votes cast excluding those of such shareholders who are required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.


“We are delighted to see our shareholders’ overwhelming support for the Separation,” said Jonathan Evans, Lithium Americas’ President and CEO. “Following the Separation, the Lithium Americas (NewCo) team is committed to advancing the Thacker Pass project toward production to support the critical North American lithium supply chain. Meanwhile, the Lithium Argentina team will advance Caucharí-Olaroz toward full commercial production and pursue development opportunities in its significant growth pipeline in Argentina.”


E3 LITHIUM LTD. (OTCQX: EEMMF) (TSXV: ETL) recently announced that commissioning of its Direct Lithium Extraction (DLE) field pilot plant is complete and operations have begun.  The commissioning process included connecting all major pieces of equipment to the piping and wiring systems on site. The team has also conducted a series of necessary inspections and system tests to ensure safe and successful operations. Each DLE system has demonstrated it is operating as expected based on the performance metrics established during pre-pilot testing.


The operations begin with running the DLE processes at different system parameter settings to determine the most efficient extraction of lithium, guided by the Key Performance Indicators (KPIs) outlined on June 14, 2023. Upon determining a specific set of operating parameters, each system will run for a longer duration to accomplish two tasks: 1) confirm consistent results over an extended period; and 2) produce large volumes of lithium concentrate for further refining into lithium products, such as lithium hydroxide. The data collected throughout the pilot operations will be primarily used to inform the commercial design of the processing facility for our Pre-Feasibility Study (PFS) and Feasibility Study (FS).


Albemarle Corporation (NYSE: ALB) a global leader in supplying essential elements for mobility, energy, connectivity, and health, recently announced its intent to pursue a binding agreement to acquire Liontown Resources Limited.


Albemarle acknowledges Liontown’s announcement on the ASX and confirms that it has submitted a best and final non-binding proposal, pending the absence of a better offer, to acquire all outstanding shares of Liontown through a scheme of arrangement at A$3 cash per share. This revised proposal values Liontown at A$6.6 billion or $4.3 billion in equity value.


Livent Corporation (NYSE: LTHM) recently reported results for the second quarter of 2023.  Second quarter revenue was $235.8 million, 7% lower than the first quarter of 2023 and 8% higher than the second quarter of 2022.  Reported GAAP net income was $90.2 million, or 43 cents per diluted share, compared to $114.8 million in the previous quarter and $60.0 million in the prior year’s quarter.  Adjusted EBITDA was $134.5 million, 15% lower than the previous quarter but 42% higher than the prior year’s quarter, and adjusted earnings per diluted share (1) were 51 cents.  Volumes sold were roughly flat versus the first quarter of 2023 while average realized prices were slightly lower and overall costs were higher.


“We continued to see healthy demand from our customers which helped to support strong financial results in the second quarter.  As anticipated, we experienced the lagged impact of lower market prices in certain lithium products and end markets, as well as higher operating costs during the quarter,” said Paul Graves, president and chief executive officer of Livent.  “We expect 2023 second half financial performance to be broadly similar to the first half of the year, supported by pricing visibility from our existing customer contracts and incremental volume available for sale in the second half of the year.”


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