https://www.miningweekly.com

Savannah granted permits for Finland lithium projects

23rd June 2016

By: Anine Kilian

Contributing Editor Online

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed Savannah Resources has been granted reservation permits over two new lithium projects, Somero and Eräjärvi, in Finland. 
 
CEO David Archer said that these projects provided the company with access to the lithium market, which, in light of growing demand from the burgeoning battery market, was forecast to grow at a rapid rate.  

“The demand for materials such as lithium, which is a key component in new energy storage solutions, is rising at record rates,” he stated.

Global lithium demand, which reached 184 000 t in 2015, was expected to increase to 534 000 t by 2025, which, in turn, was creating a favourable pricing market with the lithium price having trebled in under 12 months. 

“We look forward to determining the resource potential of our new project areas to capitalise on this and, with this in mind, we are looking to frame up a development programme and an on-ground team to help define drill targets in 2016, leading potentially to the definition of mineral resources.”

Finland was set to become a major lithium supplier to mainland Europe, which consumed around 25% of the world’s lithium production but had no current domestic production. 

European consumption of lithium carbonate was expected to rise significantly in the coming years with German automotive corporation Daimler recently announcing a new €500-million lithium-ion battery Gigafactory, with Volkswagen expected to follow suit later in the year.
 

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

VISIT SHOWROOM 
Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.044 0.671s - 110pq - 2rq
Subscribe Now