In This Article:
Elko, Nevada--(Newsfile Corp. - December 17, 2024) - Lithium Corporation (OTCQB: LTUM) ("LTUM" or "the Company") is pleased to announce the Company's continued strategic investment in exploration has translated into new, recently staked antimony claims, further expanding its portfolio of critical mineral prospects. The claims, located in southeastern British Columbia, Canada, proximal to the US border, coincide with China's recent announcement banning exports of gallium, germanium, and antimony to the United States amid escalating geopolitical tensions.
Antimony is recognized by the US Department of the Interior as a critical mineral essential to US economic and national security. It is used in defense systems, renewable energy generation and storage, high-tech manufacturing, and numerous other applications. China is the world's largest producer of antimony, controlling nearly half of global production and three-quarters of its refining capacity. In 2023, the US relied on imports for over 80% of its antimony needs, with China the primary supplier. The balance was sourced through recycling.
The combination of growing demand and China's export restrictions has led to a significant surge in antimony prices. By mid-November 2024, prices had risen by 212% year-to-date. Industry experts anticipate elevated prices will persist, highlighting the West's vulnerability in relying on China for key minerals.
"With increasing demand, rising prices, and threats to supply chains, it is crucial to explore for and develop domestic North American sources of antimony and other critical minerals to ensure long-term stability and mitigate the risks associated with over-reliance on single-source suppliers," said Tom Lewis, President and CEO of Lithium Corporation.
Today's announcement marks the second time this year Lithium Corporation has expanded the Company's critical minerals portfolio with new prospects and new minerals. In early April, Lithium Corporation introduced the newly staked Las Pilas claim block prospective for hosting fluorspar mineralization. The Company's project portfolio now encompasses lithium, graphite, titanium/rare earth elements, fluorspar and antimony prospects. To learn more, please visit Lithium Corporation's Projects page: https://lithiumcorporation.com/projects/.
About Lithium Corporation
Lithium Corporation is a leading mineral exploration company dedicated to advancing the clean energy economy and supporting global electrification. As one of the few Project Generators in North America's critical minerals sector, the Company leverages its extensive exploration expertise to focus on energy metals with the goal of helping secure domestic North American critical mineral supply chains.