Emerging Lithium Producers Nearing Production In 2013
Currently, Lithium Americas is working toward securing project financing and offtake agreements in order to commence construction this year. Mitsubishi (TSE:8058) and Magna International (NYSE:MGA) account for about 17 percent of outstanding shares in the company and have offtake arrangements for the option to purchase up to 37.5 percent of the project's lithium production — contingent on financing up to 37.5 percent of capital costs. If all goes well, Lithium Americas plans to bring the brine mine — believed to be the world's third-largest lithium brine resource — into production by 2015, with an annual production rate of 20,000 MT.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company or commodity mentioned in this article.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV