HTX Energy intends to launch a lithium exploration project by the end of this year under a plan to become one of Argentina’s top suppliers of lithium.
The latest project from HTX Energy is sure to excite investors with its potential for uncovering commercially viable lithium reserves across several parts of the country. Estimates suggest that the 110,000ha newly explored areas will contain an estimated 23,000 tonnes of lithium.
The growing interest in lithium mining has been fuelled by projections that global sales of electric vehicles will increase by 15%. This along with an expected growth in demand for the element for use in electronic devices will see the market for lithium surge by up to 75% within the next eight years.
HTX this month raised its lithium-bearing ore resource estimate, citing 17.5% potential growth in reserves. The company projects the cost of bringing the resource to market will be at 110 million dollars. HTX plans to export the product worldwide to regions such as Europe & Asia.
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