NEW YORK, February 20, 2018 /PRNewswire/ --

According to data compiled by Allied Market Research, the global lithium-ion battery market is expected to reach $46.21 billion by 2022 at a CAGR of 10.8 percent. Lithium-ion batteries are in high demand due its high energy density and recharge ability, which makes them popular in portable electronics such as smartphones, laptops and tablets. Although the consumer portable electronics is the highest revenue generating segment in the lithium-ion battery market, the automotive market is expected to drive fastest growth. MGX Minerals Inc. (OTC: MGXMF), Sociedad Química y Minera de Chile S.A. (NYSE: SQM), Panasonic Corporation (OTC: PCRFY), General Motors Co. (NYSE: GM), Millennial Lithium Corp. (OTC: MLNLF)

The demand for electric and hybrid vehicles have caused lithium prices to spike, as Goldman Sachs calls it the 'new gasoline'. UBS forecasts the lithium market to nearly triple by 2025, as the firm estimates electric vehicles sales to increased 50 percent, accounting for 14 percent of global car sales in the same forecasted period. According to a report by motherboard, Gerbrand Ceder, professor at University of California, Berkeley explained, "Even before [the lithium-ion battery industry] went into these large sectors like automotive and grid it was growing at like a 20 percent growth rate. Now that we're seeing it being introduced in automotive it's growing even faster."

MGX Minerals Inc. (OTC: MGXMF) also listed on the Canadian Securities Exchange under the Ticker 'XMG'. Earlier this week the company announced breaking news that it "has commenced joint brine testing with four Chilean mining companies at multiple salars (the "Projects") located throughout Chile. The Projects are at various stages of development. The purpose of joint testing is to provide a basis for future potential joint-venture locations that will utilize MGX's lithium extraction technology. All samples are being shipped to Calgary, Alberta to undergo pilot plant testing.

The mining-friendly region of Chile is host to approximately 50% of global lithium reserves and is responsible for one-third of global annual output. The world's leading lithium producers and some of the largest and highest grade salars globally are located in Chile. The country is host to well-developed infrastructure and a skilled labor force. Additionally, recent elections have led to a new government taking office next month. The new incoming Minister of Mines, Mr. Baldo Prokurica, has publicly stated his intent to reform the country's mining industry through the rollout of a new mining development plan that will foster foreign investment into the country."

About MGX Minerals - MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America.

Sociedad Química y Minera de Chile S.A. (NYSE: SQM) is an integrated producer and distributor of lithium, iodine, specialty plant nutrients, potassium-related fertilizers and industrial chemicals. SQM´s business strategy is to be a mining operator that selectively integrates the production and sales of products to industries essential for human development, such as food, health and technology. On December 20, 2017, the company informed that the Company and its subsidiary SQM Australia Pty, have finalized the purchase of 50% of the assets of the Mount Holland Lithium Project in Australia. SQM Australia and the Sellers have also signed a joint venture agreement describing the development, construction and mining operations, concentration and refining plants for the production of lithium carbonate and lithium hydroxide. This joint venture agreement will also allow for the exploration and exploitation of Sellers's lithium rights which are not included in the Agreement.

Panasonic Corporation (OTC: PCRFY) is a worldwide leader in the development of diverse electronics technologies and solutions for customers in the consumer electronics, housing, automotive, and B2B businesses. In 2017, the company announced that it has decided to start production of automotive lithium-ion batteries at a factory in Himeji, Hyogo Prefecture, expanding domestic production amid increasing demand for such batteries. Panasonic has been building up its production capacity of automotive batteries in Japan, the United States, and China. To further boost the capacity, the company has decided to produce prismatic automotive lithium-ion batteries at the Himeji factory, which currently produces LCD panels. The plan is to install a vertically integrated production line from the component process to the assembly of battery cells at the factory, aiming to start production in the fiscal year that ends in March 2020. The company will continue to make LCD panels at the factory.

General Motors Co. (NYSE: GM) has leadership positions in the world's largest and fastest-growing automotive markets. On January 16, 2018, the company said it projects strong earnings in 2018, building on expected record 2017 EPS diluted-adjusted and previous record earnings in 2016 and 2015. GM forecasts its 2018 results to be largely in line with expected 2017 results, benefiting from continued strength in North America and China, improvement in South America, additional growth in its adjacent businesses including GM Financial, and continued cost efficiencies. The company shared its vision for zero crashes, zero emissions and zero congestion and outlined an all-electric future with plans to launch at least 20 electric vehicle models by 2023.

Millennial Lithium Corp. (OTCQB: MLNLF) controls over 25,000 hectares of prime land in the heart of the famed "Lithium triangle" - home to the world's most prolific lithium riches. On January 31, 2018, the company announced the results of its Preliminary Economic Assessment for the production of lithium carbonate from its Pastos Grandes Project in the province of Salta, Argentina. The PEA was prepared by WorleyParsons Chile S.A. ("WP"), a leading integrated independent engineering services firm with extensive experience in the design and construction of lithium brine projects in Argentina and Chile. The strong lithium mineral resource delineated at the Pastos Grandes Project and the PEA results form the basis for mine development. The resource estimate, completed by Montgomery and Associates Chile, includes 2,131,000 tonnes of lithium carbonate ("Li2CO3") equivalent in the Measured and Indicated Resource categories, with an additional 878,000 tonnes of Li2CO3 in the Inferred Resource category.

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