{"id":12094,"date":"2021-05-27T15:45:00","date_gmt":"2021-05-27T14:45:00","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=12094"},"modified":"2022-02-03T15:42:46","modified_gmt":"2022-02-03T15:42:46","slug":"united-lithium-ensuring-europes-supply-chain-for-electric-vehicles","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/united-lithium-ensuring-europes-supply-chain-for-electric-vehicles\/12094\/","title":{"rendered":"United Lithium: ensuring Europe’s supply chain for electric vehicles"},"content":{"rendered":"

United Lithium is an exploration company focused on lithium that has assembled an interesting portfolio of lithium assets. Targeting projects in eastern Canada and Europe, it aims to support the European Battery Gigafactories built for electric vehicles.<\/h2>\n

United Lithium<\/a> is a new junior exploration company with a prime position to supply lithium to the rapidly-expanding battery markets in Europe through the recently acquired Bergby lithium project in Sweden, and the Kiety\u00f6nm\u00e4ki lithium project in Finland, where a letter of intent was signed in early May. Both European projects have excellent infrastructure and have already outlined some high-grade lithium results. Exploration work continues towards outlining a resource with drilling planned for late May in Sweden. These more advanced projects compliment the grassroots Barbara Lake lithium project in Canada which is adjacent to Rock Tech lithium\u2019s advanced stage Georgia Lake lithium project.<\/p>\n

Lithium is critical to the decarbonisation of global energy supply necessary to meet the world\u2019s future climate change goals. It plays an ever-increasing role in battery technology and battery demand is being driven by a rapid expansion in the development and production of electric vehicles (EVs).<\/p>\n

Markets for electric vehicles are currently at an inflexion point and analysts are projecting strong growth for electric vehicles over the coming decade. Automakers are currently investing some US$90bn in developing 200 new electric models over the next few years. IHS Markit expects a CAGR of 35% in global electric vehicle production from 2020 to 2025.<\/p>\n

As a result, global demand for lithium-ion batteries is growing at a CAGR of 25% with over US$110bn in investment planned for over 100 battery gigafactories planned out to 2028. At the same time, McKinsey highlights that supply chains of battery and car makers are becoming more regional, orientating away from Asia. In Europe, Benchmark Mineral Intelligence forecasts battery demand to increase at an annualised rate of 40% between 2020 and 2025.<\/p>\n

The demand for lithium is now forecast to rise strongly over the next decade to around 1.0 Mt of lithium carbonate equivalent (LCE) in 2025. This is equivalent to an overall CAGR of 31%, but a 47% CAGR for battery grade lithium for electric vehicles.<\/p>\n

While new lithium production is planned to come on stream, future refined lithium supply will remain tight, with a period of sustained supply deficit expected in the mid-2020s, according to Roskill.<\/p>\n

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Fig. 1: Electric vehicle manufacturers in Europe<\/figcaption><\/figure>\n

The Bergby lithium exploration project<\/h3>\n

United Lithium has raised capital and strengthened its management team and most recently acquired the exciting Bergby lithium exploration project in Sweden. The project has excellent infrastructure as well as being close to a deep-water port and the new Northvolt lithium battery gigafactory in Sweden.<\/p>\n

Surface sampling, a ground magnetic survey, and two drill programmes have identified a lithium deposit at Bergby with some high-grade lithium concentrations. Exploration work continues towards outlining a resource with drilling planned planned to begin this year.<\/p>\n

United Lithium is well positioned to provide exposure to the booming EV and battery markets, the expected tightness in lithium markets, and is in a prime position to supply the European markets as they build out capacity.<\/p>\n

The Kiety\u00f6nm\u00e4ki lithium exploration project<\/h3>\n

The Kiety\u00f6nm\u00e4ki lithium project, located an hour\u2019s drive north of Helsinki, Finland, was discovered by the Finnish Geological Survey (GTK) in the mid-1980s. GTK drilled 17 shallow diamond drill holes to test down to 70m below surface across three traverses, including one traverse of very shallow holes to locate bedrock. In 2016, six holes drilled by the property vendors intersected lithium mineralisation hosted as a spodumene-bearing pegmatite dyke swarm.<\/p>\n

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Historical drilling results from GTK include:<\/p>\n