NEW YORK, January 10, 2018 /PRNewswire/ --

According to the report, global lithium-ion battery market was valued at around USD 31.17 billion in 2016 and is expected to generate revenue of USD 67.70 billion by end of 2022, growing at a CAGR of slightly above 13.70% between 2017 and 2022. The increase in demand for electric vehicles, smart devices as well as other consumer electronics are anticipated to boost the lithium-ion battery market. Lithium-ion batteries are mostly used for consumer or home electronics. The report also indicates that lithium nickel manganese cobalt (LI-NMC) is one of the leading segments of the lithium-ion battery market. First Cobalt Corp. (OTC: FTSSF), FMC Corporation (NYSE: FMC), Lithium Americas Corp. (OTC: LACDF), Albemarle Corporation (NYSE: ALB), Tesla Inc. (NASDAQ: TSLA).

A major component of the lithium-ion battery market is cobalt. Reuters reported that by 2020, 75 percent of lithium-ion batteries will contain cobalt, whose properties allow electric cars to extend their range between charges, according to eCobalt Solutions. "Future demand for cobalt from the EV (electric vehicle) sector is looking tangible and is more positive than originally expected," one commodity-focused fund manager said according to the Reuters report. "China has some aggressive plans in terms of electric vehicles. It will be a major driver behind cobalt consumption growth."

First Cobalt Corp. (OTCQB: FTSSF) is also listed on the TSX Venture Exchange under the ticker symbol 'FCC'. Earlier today the company announced breaking news that, "positive assay results from two holes intersecting cobalt mineralization on two separate veins in the Woods Extension area of the Cobalt Camp, Ontario. One intersection occurs along strike of the Watson vein and the other is likely a new vein between the Woods and Watson veins. These intercepts, in conjunction with previous results from this area, suggest a broad deformation zone of mineralization may exist between the Woods and Watson veins.

Highlights:

• 0.57% Co and 1.40% Ni over 0.40m in hole KF-WV-0003 on a new vein between the Woods and Watson veins
• 0.34% Co over 0.40m in hole KF-WV-0007 in the Woods Extension Area representing a possible extension of the Watson vein system
• Several carbonate veins have now been intersected in the Woods Extension area to the north of the Keeley-Frontier mine, suggesting a broad deformation zone of mineralization may exist rather than discrete individual veins

Trent Mell, President & Chief Executive Officer, commented: "Drill results from Woods Extension continue to prove exciting during these early days of our Cobalt Camp drilling. All drill holes in this area have hit meaningful values of cobalt or other metals and the mineralization is open along strike northward. It is noteworthy that cobalt mineralization has been intersected to the north and south of the historic Keeley and Frontier mines, where the focus was silver mineralization."

The Woods and Watson veins accounted for over 80% of the production in the southern end of the Cobalt Camp area known as Silver Centre. The veins were previously believed to have ended at an east-west fault. Assays in this area, however, show the vein system extends northward beyond the historic mine workings, in an area previously unexplored.

Nine drill holes were completed at the Woods Extension area to the north of the Frontier mine to test the possible extension of the Woods and Watson veins. Assay results have been received from seven drill holes. Calcite veins have been intersected in most holes and five holes returned anomalous cobalt (>0.05% Co). A number of samples from these five drill holes have also returned anomalous silver (>10 g/t) as well as other metals Cu, Zn and Pb, which may represent a broad zone of mineralization rather than discrete individual veins. The lower grade of silver mineralization may explain the lack of mine development to the north of the historic Frontier mine, but this area remains prospective for cobalt mineralization."

FMC Corporation (NYSE: FMC) announced on January 4th that it has revised its operating agreements in Argentina, allowing it to expand production and completing an important step toward the intended separation of its lithium business in 2018. The revised operating agreements update FMC royalties and corporate social responsibility (CSR) programs in Argentina and eliminate restrictions that may have prevented a change of control of FMC Lithium. The revised royalties and CSR programs are at levels generally consistent with current commitments.

Lithium Americas Corp. (OTCQX: LACDF), earlier in October provided an update on the Lithium Nevada Project (the "Lithium Nevada Project") located in Nevada, USA. The Company is developing the 100% owned Lithium Nevada Project, a clay-based lithium resource in the McDermitt Caldera, through its wholly owned subsidiary, Lithium Nevada Corp. Building on years of exploration and testing, a Preliminary Feasibility Study on the Lithium Nevada Project is expected to be complete by the end of Q2 2018 to demonstrate the economic potential of producing lithium hydroxide from lithium-bearing claystone. "Supported by one of the strongest technical teams in the industry, we intend to develop the Lithium Nevada Project into a globally significant source of lithium," commented Alexi Zawadzki, President of North American Operations at Lithium Americas.

Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. On December 19th, the company announced that it is launching a new technology for the Fluid Catalytic Cracking (FCC) catalyst market called Granite™. The Granite™ technology reinforces Albemarle's long-standing leadership in the FCC market and offers new options for customers, whether they focus on fuel or petrochemical production. Dave Clary, vice president of FCC, stated "Albemarle is proud to offer new technologies that give our customers operational flexibility and improved performance. We are committed to developing superior catalyst solutions which our customers can use to meet their toughest challenges."

Tesla Inc. (NASDAQ: TSLA) mission is to accelerate the world's transition to sustainable energy through increasingly affordable electric vehicles and energy products. To achieve its planned production rate of 500,000 cars per year by 2018, Tesla alone will require today's entire worldwide supply of lithium-ion batteries. The Tesla Gigafactory was born out of necessity and will supply enough batteries to support Tesla's projected vehicle demand. In 2014, Panasonic Corporation and Tesla Motors, Inc. have signed an agreement that lays out their cooperation on the construction of a large-scale battery manufacturing plant in the United States, known as the Gigafactory. The Gigafactory is being created to enable a continuous reduction in the cost of long range battery packs in parallel with manufacturing at the volumes required to enable Tesla to meet its goal of advancing mass market electric vehicles. 

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