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Northern Iron Corp to Focus on Chinese Market for Lithium Brines Projects in Nevada and Arizona
(via Thenewswire.ca) Vancouver, British Columbia, Canada / TheNewswire / September 26, 201...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Northern Iron Corp to Focus on Chinese Market for Lithium Brines Projects in Nevada and Arizona(via Thenewswire.ca)\n\n \nVancouver, British Columbia, Canada / TheNewswire / September 26, 2016 - Northern Iron Corp. (\"Northern Iron\" or the \"Company\") (TSX-V: NFE) (FRANKFURT: N8I) today announced its intention to focus attention on the lithium market in China. The Company will leverage its existing relationship with current Chinese partners OMC Investments (\"OMC\"), who currently own 19.9% of Northern Iron. (Press Release) \n\n\n \n(..ii)-Under China's \"New Energy Plan,\" the country has called for 3 million electric cars on the road by 2025 Source: *a1\n\n\n \n(..iii)-\"China Leads Lithium Race: Electric Cars Sales Doubled For July To 36,000 With 207,000 EVs Already Sold In 2016\" Source: Inside EVs\n\n\n \n(..iv)-Northern Iron provides an outline of its exploration plans.\n\n\n \n(..v)OMC will cover all of Asia, but will primarily focus on the Chinese market in order to take advantage of China's New Energy Plan requirements. The New Energy Plan is a subset of China's current 5 Year Plan. Under this plan China has declared a target of 3,000,000 electric vehicles on the road by 2025. China's 5 Year Plan sets the requirements for state departments to implement and is closely followed by all government departments and at all levels.\n\n\n \nAccording to several sources, including Bloomberg and Inside EVs there are already 25 companies, making 51 models of electric cars in China right now. In addition, there are also currently around 200 companies developing an estimated 4,000 models of electric vehicle in China. \n\n \n \nSeveral companies, including Panasonic, BYD, CATL, Foxconn, Boston Power, and LG Chem, are building megafactories in China to produce lithium ion batteries. \n\n \n \nBasil Botha, President & CEO, said; \"The future for growth in the lithium market is clearly pointed at China and the Company, through its joint venture partner, OMC, will be leveraging their relationships with Chinese battery manufacturers, as the electric car industry is booming in China and these companies are interested in security of supply over the long term. Most of our lithium competitors are focusing on Western opportunities. We know China and are well connected in China as a result of over 8 years of work developing critical relati...