The lithium ion battery has made many technological advances possible, and so much convenience. Lithium ion batteries, or LIBs, power the mobile devices we rely on so much for work, entertainment or just to keep in touch -- such as laptops, smartphones and tablets.
And now, with electric vehicles and other applications for the renewable energy industry creating even more demand, the price of some battery minerals have skyrocketed -- particularly cobalt. Cobalt increased from about $32,500 per metric tonne in early 2017 to about $81,000 in mid-2018. And that dramatic spike is all due to demand for lithium ion batteries.
Battery manufacturers face the difficult task of keeping up with lithium ion battery demand while attempting to keep prices under control. But with the raw materials costing more than ever, it is difficult to do so. It is even more difficult to create lithium ion batteries without relying on child labor or illegal mining practices, both of which are rampant in the Congo -- the source of two thirds of the world’s cobalt.
To combat these problems facing the LIB industry, Battery Mineral Resources (BMR) is a supplier working to bring battery minerals and metals to the market from new sources in a more cost-effective, socially responsible and sustainable way.
BMR is focused on discovering, mining and bringing to market essential battery minerals. We are differentiated in the LIB raw materials market by the size and quality of our asset portfolio and quality of our experience.
We are the largest claim holder across all minerals in the Ontario Cobalt Belt with a dominant 1,100 km2 land package containing rare high grade primary cobalt projects and a maiden NI 43-101 resource at our Ontario Cobalt McAra project
434 unpatented mining mineral claims covering 14 cobalt prospects in the Idaho Cobalt Belt
Today we are focused on creating shareholder value through the exploration and development of our assets. With an experienced management team and board, a strong balance sheet, no outstanding options or warrants and funding commitments in place, we are well positioned to effectively explore and develop our multiple-commodity prospective properties.
Looking further ahead, if we are successful with our plans to delineate battery mineral resources on our properties in sufficient quantities and grades to warrant production, whether in cobalt, lithium and/or graphite, we will evaluate options to enter into downstream phases of the industry to become not only a significant raw material producer but also a significant refiner and fabricator of battery products and chemicals.
Contact us today to learn more about our battery mineral mining and exploration activities.
Anthony Connelly and Jamie Harris were appointed Voluntary Administrators of Battery Mineral Resources Limited (BMR), an Australian unlisted public company on 11 November 2019. The appointment of the Administrators is to BMR only and the Administrators are not appointed to any of BMR’s subsidiaries in the United States, South Korea or Canada. Stakeholders should refer to the Administrators’ website: https://www.mcgrathnicol.com/ (navigate to Creditors in the drop down menu, then select BMR) for further details.
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