Edison Lithium Corp. (TSX-V:EDDY, OTCQB:EDDYF) told investors it plans to capitalize on the emerging growth of sodium ion (NA-ION) batteries as a significant alternative to lithium-ion batteries.
Following its acquisition of four prime sodium brine properties in Saskatchewan from Globex Mining Enterprises Inc. (TSX:GMX, OTCQX:GLBXF) in August, the company said in a corporate update that it is positioning itself to meet the growing raw material supply chain demand of the NA-ION battery industry.
It has commissioned a National Instrument 43-101 technical report for the alkali dispositions, which it expects to be available in December 2023.
"BYD, the world's largest electric vehicle manufacturer, has three models of NA-ION battery vehicles for sale,” Edison Lithium CEO Nathan Rotstein commented in a statement.
“In addition, CATL, the largest manufacturer of electric vehicle batteries in China, is now producing a NA-ION battery. The trend is definitely moving to the NA-ION battery, not just for electric vehicles but also for energy/grid storage."
The company also announced it is assessing opportunities for certain of its lithium brine claims in Argentina after it was approached by several interested parties to discuss the development or sale of the claims in the Catamarca province or potential joint venture opportunities.
The claims are principally located in the two geological basins known as the Antofalla Salar and the Pipanaco Salar in South America's famed Lithium Triangle, it added.
Also in the update, Edison said preparations for the spin-out of its cobalt assets in northeastern Ontario, the Kittson Cobalt Property, are progressing, with the spin-out expected to be completed in the first half of 2024, subject to the requisite approvals.
Edison Lithium is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of cobalt, lithium, and other energy metal properties.
Contact the author at stephen.gunnion@proactiveinvestors.com