- Lithium Power International is a pure-play lithium mining company with lithium projects located in Chile and Australia
- The Maricunga project, LPI’s flagship, has the potential to become Chile’s next high-grade lithium mine as it is located on Chile’s largest lithium brine deposit.
- Demand for lithium is already skyrocketing and is expected to exponentially increase alongside EV sales and the adoption of other green technologies.
- The company produced 99.92 percent purity battery-grade lithium carbonate from samples of concentrated brine as a result of the latest optimisations introduced to the Maricunga lithium production process.
Global electric vehicle (EV) sales doubled in 2021 reaching a total of 6.6 million according to the International Energy Agency report. This year, the total number of EVs on the road worldwide is 16.5 million and is expected to reach 145 million by 2030.
The rapid adoption of EVs around the world has propelled manufacturers to continue to advance battery technology and deploy charging networks, both of which require raw materials to manufacture.
Battery capacity and size are both increasing dramatically with new technological advancements. Along with the overall increased demand for EVs, new battery technology has led to ramped-up demand for the materials used in manufacturing them. In 2019, the material demand for batteries was 17 kilotons (kt) per year for lithium, which is projected to reach 185 kt per year by 2030. This dramatic explosion in demand represents a strong opportunity for businesses and investors alike.
Lithium Power International (ASX:LPI) is a pure-play lithium mining company focused on developing high-grade lithium assets in Chile and Australia. LPI’s 100-percent-owned flagship Blanco project, located in Maricunga, Chile, is the highest-quality pre-production lithium brine project in South America. Combined with two lithium projects in Western Australia, LPI is set to become a significant producer of high-quality lithium. Since Chile and Australia are the top two producers of lithium, LPI is poised for success.