Pan American Lithium is Highlighted in NEWSMAX Analysis of Latin American Lithium
October 04 2011 - 10:05AM
Pan American Lithium Corp. (TSX-V:PL) (OTCBB:PALTF) (OTCQB:PALTF)
has announced that the company was highlighted in an analysis
entitled "Scrambling for Latin Lithium" by NEWSMAX, an independent
online news site with an estimated 4 million monthly
viewership. Langley Intelligence Group is NEWSMAX's foreign
news analysis service.
The article is available at
http://www.langleyintelligencegroup.com/Manage/ArticleAnalysis/Chile-Bolivia-China-Iran--Tehran-and-Beijing-Seek-.aspx
(A free login and password can be used to read the article.)
The article cited Chile's friendly business practices and
pointed out that the Pan American Lithium recently announced a
partnership with the Pohang Iron and Steel Company (also known as
POSCO) (NYSE:PKX), one of the world's largest steel manufacturers,
to potentially develop a Chile-based lithium pilot facility.
POSCO now has a 19.9% equity position in Pan American. Pan
American's goal is to develop and construct a pilot facility at one
of its eleven Chile lithium locations. Pan American CEO Andrew
Brodkey noted that Chile's low political risk and climate, coupled
with its legal, environmental, and investment laws and regulations,
combine to make the country the premier nation for current and
future lithium production.
The news analysis said that the policies of Chile have resulted
in bilateral trade with the U.S., and pointed out that the U.S.
Geological Survey (USGS) estimates that Chile provides 61% of all
lithium exports to the U.S.
Lithium carbonate is most often extracted from brines in salt
lakes, also known as salars, which are common in South America. The
USGS estimates that the total amount of lithium extracted from
Chile may eventually reach 3 million tons.
Lithium is often used in coolants for heat transfer
applications. It is attractive in the production of batteries due
to its unusually high storage capacity, making it the obvious
choice for laptop computers, hand held electronic devices and
electric vehicles.
Overall demand for lithium is estimated to grow approximately 5%
per year with battery demand increasing over 25% annually. Total
lithium carbonate demand, which was estimated to be approximately
85,000 metric tons per year in 2007, is predicted to increase to
over 200,000 metric tons per year by 2015.
The extraction and production of lithium comes from three
primary sources, with brine solutions located under salt beds, such
as those that are the target of Pan American's efforts dominating
production, as they represent the lowest cost extraction.
On Behalf of the Board,
PAN AMERICAN LITHIUM CORP. |
/s/ Andrew Brodkey |
Andrew A. Brodkey |
President and CEO |
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACT: Jodi Henderson
Corporate Secretary
Tel: (520) 989-0032
jhenderson@kriyah.com
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