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United States : RARE EARTH MINERALS boosts stake in WESTERN LITHIUM.

Rare Earth Minerals PLC has announced that it raised its stake in Nevada-based Western Lithium USA Corp to 3.02% from 2.29%.

Western Lithium USA Corp said earlier this month that it has started calcination of its lithium clays at its pilot plant facility in Germany to show the viability of extracting lithium on a large scale from its lithium-rich clay deposit in Kings Valley, Nevada.

The US firm said it will now include a lithium hydroxide circuit to its proposed production of lithium carbonate, to meet prospective new industry needs.

WLC also said it is planning to produce up to 26,000 tonnes annually of lithium carbonate equivalent which would fulfill lithium demand for between 500,000 to more than 1 million electric cars.

Rare Earth Minerals said it views lithium hydroxide becoming a chemical compound "of choice" for the expanding high end lithium-ion battery market.

Company Chairman David Lenigas said : "Lithium hydroxide is fast becoming important for lithium-ion battery manufacturers due to batteries made from this compound having longer life cycles, better power densities and enhanced safety features."

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Publication:Mena Report
Date:Sep 25, 2014
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