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Canada/China: Nova Mining Scores Lithium Battery Hat-trick in China

Demand for lithium batteries in China is heating up and one US company seems poised to benefit.

James Dilger, the CEO of Nova Mining (OTCBB:NVMN), recently returned from the People’s Republic, where the Texas-based company met with major battery manufacturers keen on securing supply agreements with lithium miners.

Nova Mining signed three agreements in one week with major Chinese battery companies. These include deals with Shirui Battery Company, Asia Power International, and Quiangquiang Battery Company, a manufacturer of lithium-ion batteries for smartphones, cameras, electric vehicles, and computing tablets. Quiangquiang is based in Shenzhen.

Nova Mining has secured three licences for mining lithium in Mongolia and also has mining concessions in Guyana and the Canadian province of Saskatchewan.

Dilger described efforts by Chinese companies to seek lithium supplies as “very aggressive” and noted the “active seller’s market” for lithium in China.

Demand for lithium, used to make lithium batteries, seems destined to rise in China as the country moves forward on plans to accelerate developments in energy storage.


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