Electric Vehicles (EV) are here. Generating Lithium for the batteries they use is one of the world’s youngest and most important industries. China currently dominates the marketplace. The rest of the world, including the USA, is now responding to secure its Lithium supplies.
The Bonnie Claire Project, located in Nevada, is well positioned to use any preferential treatment by the US Government. Importantly, Canadian companies, such as Nevada Lithium Resources, are the only non-US entities considered to be US domestic sources of Lithium.
Jump in electric vehicle (EV) sales in 2020 despite global pandemic
Projected output growth of global EVs from 2020 to 2024
Value of global EV market by 2025
Growth needed in global lithium production to meet growing demand
Lithium’s first energy revolution started in the 1990s.
That’s when lithium-ion (Li-ion) batteries took center stage in consumer electronics worldwide due to their superior characteristics:
- Lower maintenance
- 2x the energy density of nearest alternative
Today, lithium batteries power virtually all portable electronic devices. Together they consume over 50% of global lithium production.
Lithium’s first energy revolution started in the 1990s.
That’s when lithium-ion (Li-ion) batteries took center stage in consumer electronics worldwide.
Today, lithium batteries power virtually all portable electronic devices. Together they consume over 70% of global lithium production.
of global lithium goes to battery production
goes to ceramics and glass
goes to greases, powders and other uses
But the second lithium revolution is already creating far more demand for lithium around the world.
That’s because batteries for electric vehicles (EVs) are much larger, so they consume far more lithium than all other Li-ion batteries combined.
Global Battery-Related Lithium Demand Disproportionately Driven by EVs
And the EV revolution has just started. Annual global EV output is projected to surge by 274% over 2020’s numbers by 2024, while the EV market will hit a value of $1.5 trillion by 2025.
Taking the lead in the EV revolution are North American automakers.
Sold almost 500,000 EVs in 2020, which was more than any other automaker. The all-electric company is now focused on bringing a $25,000 EV to market to help reach their target of annual sales of 20 million EVs.
Announced in early 2021 it plans to sell only zero-emission cars and trucks by 2035 and will invest $27 billion in EV vehicles from 2021 to 2026. To reflect the company’s new EV-focused direction, they even changed their logo.
Following suit with plans to spend at least $22 billion in EVs from 2016 through 2025, which is nearly double their previous commitment.
That means all the North American automakers will need to lock up stable, domestic lithium supplies to meet their growing demand.
As the demand increases, a domestic source is required.”
– Powermag.com, Nov. 2020
Meanwhile, all the other top automakers have aggressive commitments to growing their EV offerings:
Jaguar Land Rover
Plans to have the first Land Rover EV arrive as soon as 2024 and have an electric version of every model it makes starting in 2030
Plans to expand beyond its current EV models, which include the BMW i3, to where EVs account for 15% to 25% of sales
Plans to spend about $40 billion over the next 5 years on EVs with a target of 20% to 25% of total sales from EVs by 2030
Plans to sell more than 5.5 million EVs by 2030
Plans to expand beyond its ~500,000 EV sales to date to reach the near-term goal of 1 million EV sales by 2022
Plans to electrify 66% of its global auto sales by 2030
Plans to sell 1 million EVs per year by 2025
Plans for EV sales to account for 25% of their global vehicle sales by 2029
That’s why Roskill is projecting major near-term growth of global EV production and sales.
Global EV Production & Sales Scenarios, 2019-2029
- Building Resilient Supply Chains, Revitalizing American Manufacturing, and Fostering Broad-Based Growth, June 2021, Page 162
*Source: “Preliminary Economic Assessment NI 43-101 Technical Report, Bonnie Claire Lithium Project, Nye County, Nevada” (Effective date of August 20, 2021, and Issue date of September 23, 2021). The Qualified Person for the mineral resource estimate is Terre Lane of Global Resource Engineering Ltd., of Denver, CO, USA. The Mineral Resource estimate, based on borehole mining methods, is 3,407.3 Mt at 1,013 ppm Li (inferred) for 18.372 Mt of Lithium Carbonate Equivalent (LCE). The estimate is based on an assumed lithium price of 13,400 $/tonne Li2C03, a cut-off grade of 700 ppm Li, and Li2C03 to lithium ratio of 5.323. The borehole constraint assumes a 68% mining recovery and 5% dilution. Numbers have been rounded to reflect the accuracy of the estimate and may not sum due to rounding. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. It is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The technical report is filed, as required by NI 43-101, on the Company’s SEDAR profile at www.sedar.com.”
The disclosure on this page includes statements containing forward-looking information within the meaning of applicable Canadian securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “develop”, “plan”, “continue”, “expect”, “intend”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “propose” and other similar words, or statements that certain events or conditions “may” or “will” occur, and on this page include the statements regarding the Company’s expectations concerning: market demand for lithium and EVs; shifts in the automotive industry from gas to electric vehicles; the positioning of the Bonnie Claire Lithium Project in Nevada and globally. Forward-looking statements are only predictions based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Factors that could materially affect such forward-looking information are described under the heading “Risk Factors” in the Prospectus, including the schedules attached thereto, that is available on the Company’s profile on SEDAR at www.sedar.com. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.