Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF)

Global Lithium Supply on the Rise in 2024

The lithium industry is experiencing major changes in 2024. In Q1 2024, global lithium reserves surged to 303.5 million metric tons, marking a 52.2% increase compared to three years ago. Miners are now using auctions for selling lithium, moving away from fixed-price contracts.

Lithium South Development Corporation Expands Its Project

In April, Lithium South Development Corporation (TSXV:LIS) (OTC:LISMF) filed a Preliminary Economic Assessment (PEA) on its Hombre Muerto North Lithium Project. The assessment revealed promising financials with a payback period of 2.5 years. CEO Adrian F.C. Hobkirk expressed optimism about the project’s future.

Updates on Lithium South’s Progress

The company is progressing with the first pumping well on its largest claim block, the Alba Sabrina block. The well is currently pumping at 25L/second, with an expected increase following maintenance. They have also received expressions of interest from companies in the lithium sector.

Sigma Lithium Corporation’s Advances in Brazil

Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML) announced its ninth shipment of Quintuple Zero Green Lithium to LX International. The company also upgraded its reserves at the Grota do Cirilo mine by 40%, aiming to make Brazil a global lithium leader, said CEO Ana Cabral.

Lithium Ionic Corp. Secures $11 Million Financing

Lithium Ionic Corp. (TSXV: LTH) (OTCQX: LTHCF) secured $11 million in financing for its Itinga and Salinas projects. The financing follows the acquisition of the remaining 15% of Salinas properties and a significant mineral resource estimate increase.

Albemarle Corporation’s New Agreements

Albemarle Corporation (NYSE: ALB) reached an agreement with Chile’s CORFO to increase its production quota by 240,000 metric tons. Albemarle is also working on reopening its Kings Mountain lithium mine in North Carolina, with plans to benefit the local economy.

Standard Lithium Ltd.’s Partnership with Equinor

Standard Lithium Ltd. (NYSE-American: SLI) (TSXV: SLI) announced a partnership with Equinor ASA, which includes an investment of up to $160 million. This partnership aims to support Standard Lithium’s projects in Arkansas and Texas.

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