Petrolithium -- For The Archives -- From Platt's -- February 2, 2018
Link here.
Lithium is one of the main ingredients of the lithium-ion battery used
for electric vehicles and has been on a bull run since 2015. Production
increased substantially in 2017 with a flurry of new investors bringing
capacity on stream, so there's no sign of deficit, but lithium prices
doubled in 2016 and remain lofty.
[MGX] has acquired more than 2 million acres of brine-bearing
formations in North America and just recently ventured into Chile. "The
real prize is in South America," Lazerson said.
This is where
there is higher value -- up to 1,000 ppm of lithium compared to other
brine formations in North America where, typically, 300 ppm is present.
Its North American lithium holdings are in Alberta, Canada and Utah in
the US.
Earlier this week, MGX said that its operating partner
received approval from the State of Utah Division of Oil, Gas &
Mining to conduct a 3D geophysical survey on the Blueberry Unit at its
Paradox Basin Petrolithium Project.
"The project represents the
first large scale integrated petroleum and lithium exploration project
in the United States and is located proximate to the Lisbon Valley
oilfield within the Paradox Basin, which has shown historical brine
content as high as 730 ppm lithium," MGX said.
The Paradox Basin is linked at the sidebar at the right.
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