- The electric vehicle market continues to grow faster than originally anticipated
- Roughly 57 percent of passenger vehicle sales and 56 percent of light commercial vehicle sales are expected to be electric by 2040
- These market conditions create excellent opportunities for QMC Quantum Minerals, which is strategically positioned for lithium production
The global demand for lithium will continue growing at a rapid pace, increasing to one million tons per year by 2025 from the current 325,000 tons, according to a recent BloombergNEF report (http://ibn.fm/2ZwKR). The autonomous electric vehicles market is, of course, one of the primary drivers of growth.
According to BloombergNEF’s report titled ‘Electric Vehicle Outlook 2019’, over two million electric vehicles were sold in the world in 2018, marking a massive increase from the few thousand cars sold eight years prior. The analysis suggests that, by 2040, 57 percent of all passenger vehicles sales and over 30 percent of the global passenger vehicle fleet will be electric.
Statistics also suggest that the electric vehicle trend is spreading to multiple segments. By 2040, 56 percent of light commercial vehicles sales are forecast to be electric, and the same applies to 31 percent of medium commercial vehicle sales in the U.S., China and Europe.
Such forecasts outline excellent opportunities for mineral explorers like QMC Quantum Minerals Corp. (TSX.V: QMC) (OTC: QMCQF) (FSE: 3LQ). The company continues to build its range of options to meet these new opportunities and strengthen its lithium production.
QMC’s Irgon Lithium Mine project in southeast Manitoba is close to the completion of a NI 43-101 resource estimate for the potential commercial development of lithium and other minerals. Previously, the Irgon Lithium Mine project has shown exceptional potential for commercial lithium extraction on the basis of historic estimates. These suggest a mineral estimate of 1.2 million tons grading 1.51 percent lithium oxide over a strike length of 365 meters (1,197.5 feet) and to a depth of 213 meters (698.8 feet).
QMC Quantum Minerals, however, isn’t relying solely on the area encompassed in the historic estimate. The company has expanded the potential of other dikes within the project. Surface sampling has confirmed the potential of the Mapetre, Central and Irgon West dikes for additional tonnage.
Via resampling, QMC Quantum Minerals estimated the presence of up to 0.32 percent lithium oxide over 16.61 meters (54.5 feet) in the Mapetre dike, including 0.52 percent Li2O over 8.69 meters (28.5 feet) (http://ibn.fm/ZIrcV).
The Mapetre and Central dikes are located at opposite ends of a 1,100-meter-long and 100- to 350-meter wide target area. As a result, QMC expects the identification of additional, large spodumene-bearing pegmatite dikes within the zone. Such discoveries are anticipated during the 2019 field season, allowing QMC to make full use of new market dynamics and position itself as a lithium production leader and an attractive opportunity for investors interested in this fast-growing mineral market.
For more information, visit the company’s website at www.QMCMinerals.com
NOTE TO INVESTORS: The latest news and updates relating to QMCQF are available in the company’s newsroom at http://ibn.fm/QMCQF