Monday 22nd October 2018

Resource Clips


Posts tagged ‘nevada’

Visual Capitalist and Benchmark Mineral Intelligence: Battery megafactory forecast for 400% increase in capacity by 2028

October 22nd, 2018

by Jeff Desjardins | posted with permission of Visual Capitalist

Battery megafactory forecast 400% increase in capacity to 1 TWh by 2028

The Chart of the Week is a Friday feature from Visual Capitalist.

 

When ground broke on the massive Tesla Gigafactory in Nevada in 2014, the world marveled at the project’s audacity, size and scope.

At the time, it was touted that the cutting-edge facility would be the largest building in the world by footprint, and that the Gigafactory would single-handedly be capable of doubling the world’s lithium-ion battery production capacity.

What many did not realize, however, is that although as ambitious and as forward-looking as the project sounded, the Gigafactory was just the start of a trend towards scale in the battery-making space. While Tesla’s facility was the most publicized, it would ultimately be one of many massive factories in the global pipeline.

Mastering scale

Today’s data comes to us from Benchmark Mineral Intelligence and it forecasts that we will see a 399% increase in lithium-ion battery production capacity over the next decade—enough to pass the impressive 1 TWh milestone.

Here is a more detailed projection of how things will shape up in the coming decade:

Region Capacity (GWh, 2018) Capacity (GWh, 2023) Capacity (GWh, 2028)
Grand total 220.5 658 1,102.5
China 134.5 405 631
Europe 19.6 93.5 207
North America 20.9 81 148
Other 0 0 5
Asia (excl China) 45.5 78.5 111.5

In just a decade, lithium-ion battery megafactories around the world will have a combined production capacity equivalent to 22 Tesla Gigafactories!

The majority of this capacity will be located in China, which is projected to have 57% of the global total.

The top plants globally

According to Benchmark, the top 10 megafactories will be combining for 299 GWh of capacity in 2023, which will be equal to almost half of the global production total.

Here are the top 10 plants, sorted by projected capacity:

Rank Megafactory Owner Country Forecasted capacity by 2023 (GWh)
#1 CATL Contemporary Amperex Technology Co Ltd China 50
#2 Tesla Gigafactory 1 Tesla Inc/Panasonic Corp (25%) US 50
#3 Nanjing LG Chem New Energy Battery Co. Ltd. LG Chem China 35
#4 Nanjing LG Chem New Energy Battery Co. Ltd. Plant 2 LG Chem China 28
#5 Samsung SDI Xian Samsung SDI China 25
#6 Funeng Technology Funeng Technology (Ganzhou) China 25
#7 BYD , Qinghai BYD Co Ltd China 24
#8 LG Chem Wroclaw Energy Sp. z o.o. LG Chem Poland 22
#9 Samsung SDI Korea Samsung SDI Korea 20
#10 Lishen TianJin Lishen Battery Joint-Stock Co. Ltd. China 20

Of the top 10 megafactory plants in 2023, the majority will be located in China—meanwhile the U.S. (Tesla Gigafactory), South Korea (Samsung) and Poland (LG Chem) will be home to the rest.

Reaching economies of scale in lithium-ion battery production will be a significant step in decreasing the overall cost of electric vehicles, which are expected to surpass traditional vehicles in market share by 2038.

Posted with permission of Visual Capitalist.

Belmont Resources/MGX Minerals expand Nevada lithium drilling

October 16th, 2018

by Greg Klein | October 16, 2018

Similarities to the Clayton Valley and successful exploration so far have prompted two potential JV partners to plan a busy autumn at their Kibby Basin lithium project. Belmont Resources TSXV:BEA and MGX Minerals CSE:XMG now plan up to 1,465 metres over four holes in an area where geophysics found a strong magnetotelluric conductor. Added to the agenda are downhole geophysics to search for possible aquifers.

Belmont Resources/MGX Minerals expand Nevada lithium drilling

Drilling begins soon on a program that follows last season’s
encouraging lithium results at Kibby Basin in Nevada.

Earlier this month the companies delivered another 59 core samples from hole KB-3 for assays. In September Belmont and MGX announced results from the same hole that twice reached a high of 580 ppm lithium.

This season’s downhole geophysics will take over where previous water samples met unexpected technical complications. Lithium concentrations in water samples failed to show anomalous results despite the core sample assays. A new approach including downhole geophysics will “improve the chances to accurately locate layers of high conductivity and porosity and allow high-quality, representative samples to be taken where lithium concentrations are potentially higher,” the companies stated.

Having already earned 25% of the project, MGX has until year-end to increase its stake to 50%. The companies hope to form a 50/50 JV that would use rapid lithium extraction technology developed by MGX. The method won MGX the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards in London last May.

Located about 50 kilometres north of Clayton Valley, the 2,056-hectare Kibby Basin project shares a number of similarities with the region hosting North America’s only lithium-producing operation, including a “closed structural basin, a large conductor at depth, lithium anomalies at surface and depth, evidence of a geothermal system and potential aquifers in porous ash and gravel zones,” the companies stated.

In northern Saskatchewan Belmont and International Montoro Resources TSXV:IMT share a 50/50 stake in the Crackingstone and Orbit Lake uranium properties.

Belmont closed a private placement totalling $375,000 in July.

Read Isabel Belger’s interview with Belmont CFO/director Gary Musil.

Belmont Resources/MGX Minerals continue to find lithium at depth in Nevada

September 28th, 2018

by Greg Klein | September 28, 2018

More assays from hole KB-3 at Nevada’s Kibby Basin project show additional lithium at depths between 387.3 metres and 548.4 metres. Earlier this month Belmont Resources TSXV:BEA and MGX Minerals CSE:XMG announced KB-3 results for a section between 338.5 and 369 metres in depth which averaged 415 parts per million lithium and reached a high of 580 ppm. The latest batch comes from 25 core samples representing different lithologies. Twenty of the samples surpassed 100 ppm lithium, with seven of them exceeding 375 ppm. One sample matched the high reported on September 12 of 580 ppm.

Belmont Resources/MGX Minerals continue to find lithium at depth in Nevada

Kibby Basin’s first hole of the season
continues to deliver.

Ash layers accounted for four samples below 100 ppm, “suggesting that initial lithium content may have been leached from the porous ash layers and transported to brines elsewhere in the basin,” the companies stated.

KB-3 tested the southern part of a strong magnetotelluric conductor that “still has potential for saturated sediments containing lithium-rich brines.” Geophysical data suggests a second hole might similarly find an aquifer between 274.5 and 305 metres and reduced clays potentially with high lithium content below 305 metres’ depth.

Comparing Kibby Basin with the lithium-producing Clayton Valley 50 kilometres south, Belmont and MGX note similarities in a “closed structural basin, a large conductor at depth, lithium anomalies at surface and depth, evidence of a geothermal system and potential aquifers in porous ash and gravel zones.”

MGX is working on its initial 25% of a possible 50% earn-in for the 2,056-hectare project. Last May the company’s rapid lithium extraction technology won the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards in London.

Belmont also holds the Mid-Corner/Johnson Croft property in New Brunswick, where historic, non-43-101 samples suggest potential for zinc, copper and cobalt. In northern Saskatchewan Belmont and International Montoro Resources TSXV:IMT each hold a 50/50 share of two uranium properties.

In July Belmont closed a private placement totalling $375,000.

Read Isabel Belger’s interview with Belmont CFO/director Gary Musil.

Belmont Resources/MGX Minerals reach 580 ppm lithium in season’s first hole

September 12th, 2018

by Greg Klein | September 12, 2018

Sixty-five kilometres north of Nevada’s Clayton Valley, encouraging assays from the first hole of the year averaged 415 parts per million lithium at Kibby Basin, with a high of 580 ppm. Belmont Resources’ (TSXV:BEA) earn-in partner MGX Minerals CSE:XMG collected 125 samples from mud rotary drilling to 387 metres in downhole depth, then continued with small-diameter core drilling to 548 metres.

Belmont Resources/MGX Minerals average 415 ppm lithium in Nevada

With promising results from the program’s first hole, Belmont
Resources and MGX Minerals have more drilling planned.

The assays came from a section between 338.5 and 369 metres in depth. Results are pending for 25 core samples from the lower section, as well as for water samples. This hole targeted the southern area of a large magnetotelluric conductor, finding four zones of sand and gravel that might represent brine-bearing aquifers, with one zone showing a potential major aquifer.

A second hole is in the planning stages. Last year’s two-hole campaign, prior to the MT geophysics program, brought assays between 70 ppm and 200 ppm Li2O, with 13 of 25 samples surpassing 100 ppm.

MGX is working towards an initial 25% of the project, with the option of increasing its stake to 50%. Similarities between Kibby Basin and Clayton Valley include a “closed structural basin, large conductor at depth, lithium anomalies at surface and depth, evidence of a geothermal system and potential aquifers in porous ash and gravel zones,” the companies stated.

Belmont closed a private placement totalling $375,000 in July.

In New Brunswick the company holds the Mid-Corner/Johnson Croft property, where historic, non-43-101 sampling suggests zinc, copper and cobalt potential. Belmont also shares a 50/50 stake in two Saskatchewan uranium properties with International Montoro Resources TSXV:IMT.

Read Isabel Belger’s interview with Belmont CFO/director Gary Musil.

Belmont Resources teams up with MGX Minerals to resume Nevada lithium drilling

July 13th, 2018

by Greg Klein | July 13, 2018

With an option agreement now in place, Belmont Resources TSXV:BEA gains a new partner and new money for the Kibby Basin lithium property, 65 kilometres north of Nevada’s Clayton Valley. The deal allows MGX Minerals CSE:XMG to earn an initial 25% interest in the 2,760-hectare property by spending up to $300,000. Work would include a deep test hole on a geophysical anomaly found earlier this year. Should that program meet success, MGX may increase its stake to 50% with up to $300,000 in further expenditures and drilling a second deep test hole. The company would then become operator of a 50/50 joint venture.

Belmont Resources teams up with MGX Minerals to resume Nevada lithium drilling

Ready to get boots on the ground soon, the Kibby Basin
crew will test a geophysical anomaly found earlier this year.

An initial drill program last year consisted of two holes totalling 624 metres. Core samples graded between 70 ppm and 200 ppm Li2O, with 13 of 25 samples exceeding 100 ppm. This year’s program of deep-sensing magnetotelluric geophysics identified a conductive zone that starts at about 500 metres in depth.

Should the JV come into fruition, other potential duties for MGX could include additional exploration, operating a test well, and installing and operating a pilot plant. MGX’s wide range of assets includes a proprietary process to recover lithium, magnesium and other minerals from a variety of brines. The JV would gain access to the process and would also market any lithium or other commodities potentially produced.

“This agreement puts Belmont on secure footing with regard to funding the next stage of evaluation of the Kibby property and, at the same time, enables us to get a significant leg-up on lithium production by partnering with one of the leaders in extraction technology,” commented Belmont CEO James Place.

MGX will also invest $200,000 in a Belmont private placement. In April the latter company closed the final tranche of a private placement totalling $198,000.

Belmont’s portfolio also includes the Mid-Corner/Johnson Croft property in New Brunswick, where historic, non-43-101 sampling suggests zinc, copper and cobalt potential. Additionally the company shares a 50/50 interest with International Montoro Resources TSXV:IMT in two Saskatchewan uranium properties.

Read Isabel Belger’s interview with Belmont CFO/director Gary Musil.

Update: Belmont Resources permitted for July drilling on Nevada lithium property

June 20th, 2018

by Greg Klein | Updated June 20, 2018

With permits now in hand, Belmont Resources TSXV:BEA expects to activate a rig on its Kibby Basin lithium project next month. Once completed, the boreholes may be converted to exploration wells to test for lithium brine aquifers.

Located 65 kilometres north of Nevada’s Clayton Valley, the 2,760-hectare property underwent deep-sensing magnetotelluric geophysics earlier this year, finding a conductive zone that starts at about 500 metres in depth. The program followed last year’s initial drill campaign that sunk two holes totalling 624 metres. Core samples graded between 70 ppm and 200 ppm Li2O, with 13 of 25 samples surpassing 100 ppm.

Preparations move Belmont Resources toward Nevada lithium drilling

This year’s magnetotelluric geophysical program helped identify
drill targets for Belmont Resources’ Kibby Basin lithium project.

The company has described the upcoming program as “work of a significant scope” that includes water well installation and monitoring.

In May Belmont announced the appointment of Ian Graham to the company’s advisory board. A former principal geologist with De Beers’ South African division, he also spent 15 years with Rio Tinto NYSE:RIO where he took part in evaluation and pre-development projects including the Diavik diamond mine in the Northwest Territories and the Resolution copper deposit in Arizona. He also oversaw permitting for the Eagle nickel mine in Michigan and played a key role in the initial economic assessment for the Bunder diamond project in India. More recently Graham served as CEO of United Energy Corp, which held a Nevada lithium project.

Belmont also holds the Mid-Corner/Johnson Croft property in New Brunswick, where historic, non-43-101 sampling has shown zinc, copper and cobalt potential. In Saskatchewan the company shares a 50/50 interest with International Montoro Resources TSXV:IMT in the Crackingstone and Orbit Lake uranium properties.

Belmont closed the final tranche of a private placement totalling $198,000 in April.

Read Isabel Belger’s interview with Belmont CFO/director Gary Musil.

Preparations move Belmont Resources toward Nevada lithium drilling

May 23rd, 2018

This story has been updated and moved here.

Visual Capitalist: Elon Musk’s vision for the future of Tesla

April 26th, 2018

by Jeff Desjardins | posted with permission of Visual Capitalist | April 26, 2018

Tesla is currently stuck in “production hell” with Model 3 delays, as Elon Musk describes it.

But Winston Churchill had a great quote about facing what seems like insurmountable adversity: “If you’re going through hell, keep going.” This is certainly a maxim that Musk and Tesla will need to live by in order to realize the company’s longstanding mission, which is to accelerate the world’s transition to sustainable energy.

This giant infographic comes to us from Global Energy Metals TSXV:GEMC and it is the final part of our three-part Rise of Tesla series, which is a definitive source for everything you ever wanted to know about the company.

Part 3 shows Musk’s future vision and what it holds for the company once it can get past current production issues.

See Part 1. See Part 2.

 

Visual Capitalist: Elon Musk’s vision for the future of Tesla=

 

To understand Tesla’s ambitions for the future, you need to know two things:

1. Tesla’s mission statement: “To accelerate the world’s transition to sustainable energy.”

Tesla can accomplish this by making electric vehicles, batteries and energy solutions—and by finding ways to seamlessly integrate them.

2. Tesla’s strategy: “The competitive strength of Tesla long-term is not going to be the car, it’s going to be the factory.”

Tesla aims to productize the factory so that vehicle assembly can be automated at a revolutionary pace. In other words, Tesla wants to perfect the making of the “machine that builds the machine.” It wants to use these factories to pump out EVs at a pace never before seen. It aims to change the world.

The future of Tesla

If Musk has his way and everything goes according to plan, this is how the future of Tesla will unfold. Note: Keep in mind that Tesla sometimes overpromises and that the following is an extrapolation of Tesla’s vision and announced plans as of spring 2018.

A sustainable energy powerhouse

Tesla’s goal is to accelerate the world’s transition to sustainable energy—but simply making a few electric cars is not going to be enough to put a dent into this. That’s why the future of Tesla will be defined by bigger and bolder moves:

The Tesla Semi: Tesla has unveiled the Tesla Semi, which can go 0 to 60 mph with 80,000 pounds (36 tonnes) in just 20 seconds. Fully electric and with a 200-kWh battery pack, Musk says, it would be “economic suicide” for trucking companies to continue driving diesel trucks.

Mass transit: Musk said in his Master Plan, Part Deux blog post that he wants to design “high passenger-density urban transport.” It’s anticipated that this will come in the form of an autonomous minibus, built off the Model X concept.

A new energy paradigm: Tesla is not just building cars—it’s democratizing green energy by creating a self-dependent ecosystem of products. This way, homeowners can ensure their appliances and cars are running off of green energy, and even sell it back to the grid if they like.

As Tesla works on this sustainable future, the company isn’t afraid to show off its battery tech in the interim. The company even built the world’s largest lithium-ion battery farm (100 MW) in South Australia, to win a bet, in fewer than 100 days.

Other new models

Musk says that Tesla plans to “address all major segments” of the auto market.

Model Y: This will be a crossover vehicle built on the Model 3 platform, expected to go into production in 2019. It will round out the “S3XY” product line of Tesla’s first four post-Roadster vehicles.

Pickup truck: This will be Tesla’s priority after the Model Y and Musk says he is “dying to build it.” Musk says it’ll be the same size as a Ford F-150 or bigger to account for a “game-changing” feature he wants to add, but has not yet revealed.

Ultra low-cost model: Tesla has also announced that it will need a model cheaper than the Model 3 in the near future. This would allow Tesla to compete against a much wider segment of the auto market, and the future of Tesla hinges on its success.

Multiple Gigafactories

Tesla already has two: Gigafactory I in Reno, Nevada (batteries) and Gigafactory II in Buffalo, New York (solar panels).

The Gigafactory I started battery cell production in 2017. It will eventually produce enough batteries to power 500,000 cars per year. Meanwhile, the second factory is operated by Tesla’s SolarCity subsidiary, producing photovoltaic modules for solar panels and solar shingles for Tesla’s solar roof product.

Tesla said in 2017 that there will be “probably four” more battery Gigafactories in locations that would “address a global market,” including one in Europe. This makes sense, since the need for lithium-ion batteries to power these EVs is exploding. An important component of Tesla’s future will also be sourcing the raw materials needed for these Gigafactories, such as cobalt, lithium, graphite and nickel.

The Chinese market

The good news: Tesla already owns about 81% of the market for imported plug-in EVs in China.

The bad news: That’s only about 2.5% of the total Chinese EV market, when accounting for domestically made EVs.

China is the largest auto market in the world—and make no mistake about it, Tesla wants to own a large chunk of it. In 2017, China accounted for 24.7 million passenger vehicle sales, amounting to 31% of the global auto market.

Automation and the sharing economy

Finally, Tesla wants its vehicles to be fully autonomous and to have shared fleets that drive around to transport people.

Autonomous: Tesla aims to develop a self-driving capability that is 10 times safer than manual via massive fleet learning.

Shared: Most cars are used only by their owners and only for 5% of each day. With self-driving cars, a car can reach its true potential utility by being shared between multiple users.

Conclusion

The future of Tesla is ambitious and the company’s strategy is even considered naïve by some. But if Musk and Tesla are able to perfect building the “machine that builds the machine,” all bets will be off.

That concludes our three-part Rise of Tesla series. Don’t forget to see Part 1 (Origin story) and Part 2 (Rapid Growth). Special thanks to Global Energy Metals for making this series possible.

Posted with permission of Visual Capitalist.

Belmont Resources readies drill targets, selective extraction for Nevada lithium

April 6th, 2018

by Greg Klein | April 6, 2018

Supported by a successful financing and encouraging geophysical and drill results, Belmont Resources TSXV:BEA prepares to advance its Kibby Basin lithium project on two fronts. The company now plans to sink up to five holes on the 2,760-hectare Nevada property while continuing lithium extraction discussions with other companies that have requested samples.

Belmont Resources readies drill targets, selective extraction for Nevada lithium

A Quantec Geoscience crew member sets induction
coil for this year’s Spartan Magnetotelluric survey.

The drill campaign would be Kibby Basin’s second, following two holes from last year. Core samples graded between 70 ppm and 200 ppm Li2O. Thirteen of 25 samples surpassed 100 ppm, “indicating that the sediments could be a potential source of lithium for the underlying aquifers,” the company stated.

Since then a magnetotelluric survey covered some 36 square kilometres, adding geophysical detail to a 2016 gravity survey and showing a conductive zone that starts about 500 metres in depth.

Backing the campaign will be fresh financing. The second tranche of private placements totalling $198,000 closed this month.

In New Brunswick last November, Belmont acquired the Mid-Corner/Johnson Croft property, where historic, non-43-101 sampling showed prospectivity for zinc, copper and cobalt. Along with International Montoro Resources TSXV:IMT, Belmont shares a 50/50 interest in two Saskatchewan uranium properties, Crackingstone and Orbit Lake.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.

Deep-sensing geophysics precedes Belmont Resources’ Nevada lithium drilling

March 2nd, 2018

by Greg Klein | March 2, 2018

Recently received geophysical results will help Belmont Resources TSXV:BEA select drill targets for its Kibby Basin lithium property in Nevada. Described as a “full tensor magnetotelluric technology that acquires resistivity data in the 10 kHz to 0.001 Hz frequency band,” the survey covered about 36 square kilometres to depths of three kilometres over a playa basin and some adjoining turf.

Deep-sensing geophysics precedes Belmont Resources’ Nevada lithium drilling

Located 65 kilometres from Clayton Valley, Belmont Resources’
Kibby Basin project advances towards Phase II drilling.

While a 2016 gravity survey suggested the presence of a basin about 4,000 metres deep, the new results “clearly map a more conductive zone beginning at approximately 500 metres’ depth,” Belmont stated. Targets for a 2018 drill program on the 2,760-hectare property are being considered where potential brine contacts are closest to the playa surface, the company added.

Core samples from last year’s two-hole, 624-metre campaign assayed between 70 ppm and 200 ppm Li2O, with 13 of 25 samples exceeding 100 ppm.

A November acquisition added the Mid Corner-Johnson Croft zinc-cobalt prospect in New Brunswick to Belmont’s portfolio. Belmont also holds a 50% interest in two Saskatchewan uranium properties.

This week the company offered an amended private placement of up to $100,000, following an oversubscribed financing that closed on $312,000 in December.

Read Isabel Belger’s interview with Belmont Resources CFO/director Gary Musil.