PALM BEACH, Fla., Sept. 6, 2023 FinancialNewsMedia.com News Commentary
/PRNewswire/ — The remarkable development in lithium production has led to the growth of its demand all over the world. Revolution in various fields, such as automobile, glass and ceramics, medical, air treatment, and polymer production, has led to industrialization and urbanization, making metal a vital development element. Mining supplies are used for batteries for electric vehicles. The growing industrialization and urbanization have given rise to the demand for power in the world. The rising functions of the digitized world require a lot of electrical power. The dependence on process automation and round-the-clock network usage has given rise to the high demand for a consistent power supply, a key driving factor for the energy storage sector. A report from Fortune Business Insights projected that the Global Lithium Mining Market is projected to grow to USD 516.22 million in 2028 at a CAGR of 6% in the 2021-2028 period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over. The report said: “The high demand for power because of the surging urbanization and industrialization worldwide would affect growth positively. It would result in the increasing demand for lithium-ion batteries for storing the excessive energy.” Active mining companies in the markets this week include: Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), Livent Corporation (NYSE: LTHM), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), E3 LITHIUM LTD. (OTCQX: EEMMF) (TSXV: ETL), Albemarle Corporation (NYSE: ALB).
Fortune Business Insights continued: “By source, the lithium mining industry is categorized into brine and hard rock. Amongst them, the hard rock segment is presently in the dominant position and would remain so in the upcoming years. This growth is attributable to the abundance availability of hard rock lithium reserves worldwide. There are multiple big, small, and medium-sized companies in the lithium mining industry. But, only a handful of them are investing in developing state-of-the-art mining technologies. They are majorly striving to compete with their rivals. A few educational institutions are also joining hands with private organizations to discover novel techniques.”
Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI) BREAKING NEWS Indigo Engages Sproule for Maiden Lithium Brine Resource Estimation & Provides Market Update – Indigo Exploration Inc. (the “Company”) is pleased to announce it has awarded Sproule the contract to prepare a maiden resource estimate for the Company’s Fox Creek West lithium brine project in central Alberta. With over 70 years of operating history in over 90 countries, Sproule has established a reputation as a leader in the energy space. Specifically, within the resource estimation and certification space, Sproule completes over 250 evaluations annually in over 50 countries and recently includes the petrolithium brine resources on the Rainbow Lake project in Alberta and the Kindersley project in Saskatchewan.
The Company would also like to highlight the recent advancements from neighboring E3 Lithium Ltd. (“E3”) an emerging lithium developer in Alberta which announced last week the commencement of operation of its Direct Lithium Extraction (DLE) pilot plant. E3’s plant represents the first commercial operation of a pilot plant within the Western Canadian Sedimentary Basin (“WCSB”) targeting petrolithium brines from the same or similar aquafer reservoirs as contained within the Company’s projects. Specifically, Indigo’s Leduc–Legal project adjoins E3’s properties with both targeting the world-class Leduc Aquifer.
“The engagement of Sproule to complete our first maiden resource estimate represents the culmination of activities since last October when the Company shifted its focus to the growing lithium market” commented Paul Cowley, President & CEO of Indigo Exploration. “The resource estimate for Fox Creek West represents only the first of many maiden resource estimates we anticipate delivering and only the beginning of demonstrating the world class potential of these projects to fill the overwhelming lithium supply imbalance. E3’s efforts in demonstrating the commercial potential of the DLE application to petrolithium brine projects in Alberta paves the way for other players in the industry to unlock the value of this vast resource.” CONTINUED… Read this and more news for Indigo Exploration at: https://www.indigoexploration.com/news/news-2023
In other market news of interest:
Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) recently announced that shareholders have voted in favor of the separation of the Company into Lithium Americas (Argentina) Corp. (“Lithium Argentina”) and a new Lithium Americas Corp. (“Lithium Americas (NewCo)”) pursuant to a statutory plan of arrangement (the “Separation”) at the Company’s annual general and special meeting of shareholders held today (the “Meeting”). The Separation was approved by 98.85% of the votes cast by shareholders present or represented by proxy at the Meeting, as well as 98.78% of the votes cast excluding those of such shareholders who are required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
“We are delighted to see our shareholders’ overwhelming support for the Separation,” said Jonathan Evans, Lithium Americas’ President and CEO. “Following the Separation, the Lithium Americas (NewCo) team is committed to advancing the Thacker Pass project toward production to support the critical North American lithium supply chain. Meanwhile, the Lithium Argentina team will advance Caucharí-Olaroz toward full commercial production and pursue development opportunities in its significant growth pipeline in Argentina.”
E3 LITHIUM LTD. (OTCQX: EEMMF) (TSXV: ETL) recently announced that commissioning of its Direct Lithium Extraction (DLE) field pilot plant is complete and operations have begun. The commissioning process included connecting all major pieces of equipment to the piping and wiring systems on site. The team has also conducted a series of necessary inspections and system tests to ensure safe and successful operations. Each DLE system has demonstrated it is operating as expected based on the performance metrics established during pre-pilot testing.
The operations begin with running the DLE processes at different system parameter settings to determine the most efficient extraction of lithium, guided by the Key Performance Indicators (KPIs) outlined on June 14, 2023. Upon determining a specific set of operating parameters, each system will run for a longer duration to accomplish two tasks: 1) confirm consistent results over an extended period; and 2) produce large volumes of lithium concentrate for further refining into lithium products, such as lithium hydroxide. The data collected throughout the pilot operations will be primarily used to inform the commercial design of the processing facility for our Pre-Feasibility Study (PFS) and Feasibility Study (FS).
Albemarle Corporation (NYSE: ALB) a global leader in supplying essential elements for mobility, energy, connectivity, and health, recently announced its intent to pursue a binding agreement to acquire Liontown Resources Limited.
Albemarle acknowledges Liontown’s announcement on the ASX and confirms that it has submitted a best and final non-binding proposal, pending the absence of a better offer, to acquire all outstanding shares of Liontown through a scheme of arrangement at A$3 cash per share. This revised proposal values Liontown at A$6.6 billion or $4.3 billion in equity value.
Livent Corporation (NYSE: LTHM) recently reported results for the second quarter of 2023. Second quarter revenue was $235.8 million, 7% lower than the first quarter of 2023 and 8% higher than the second quarter of 2022. Reported GAAP net income was $90.2 million, or 43 cents per diluted share, compared to $114.8 million in the previous quarter and $60.0 million in the prior year’s quarter. Adjusted EBITDA was $134.5 million, 15% lower than the previous quarter but 42% higher than the prior year’s quarter, and adjusted earnings per diluted share (1) were 51 cents. Volumes sold were roughly flat versus the first quarter of 2023 while average realized prices were slightly lower and overall costs were higher.
“We continued to see healthy demand from our customers which helped to support strong financial results in the second quarter. As anticipated, we experienced the lagged impact of lower market prices in certain lithium products and end markets, as well as higher operating costs during the quarter,” said Paul Graves, president and chief executive officer of Livent. “We expect 2023 second half financial performance to be broadly similar to the first half of the year, supported by pricing visibility from our existing customer contracts and incremental volume available for sale in the second half of the year.”
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67% of larger hospitality operators are unhappy with their current tech stack: insights unveiled in new research report from Vita Mojo
New research from Vita Mojo and KAM reveals the shortcomings of modern restaurant tech, with over half of operators reporting inefficiencies are stopping them achieving business goals.
LONDON, Sept. 22, 2023 /PRNewswire/ — Vita Mojo, the hospitality tech specialist, has launched a new research report into the impact of technology on the hospitality industry, shining a light on how operators feel about their current tech stack.
Commissioned by Vita Mojo and conducted by specialist hospitality market research agency KAM, the survey asked 81 executives from the leading quick-service restaurant (QSR) and coffee chain brands about their experiences with restaurant technology.
The resulting report – Hospitality Tech 2024: Bridging the efficiency and profitability gap – indicates that certain technologies are holding the industry back.
The survey results show that the hospitality sector is facing a number of challenges:
- A disconnect between efficiency and growth
56% of operators say that not having enough time is a significant barrier to achieving their business goals, but only 28% report fixing inefficiencies is a focus area for the business.
- Frustrations with the complexity of technology
44% of operators don’t think they have the in-house skills to make the most out of their tech solutions, and 31% believe that too much training is needed to use digital solutions properly.
- Missing out on data-driven decision-making
Two in three businesses are frustrated that they are not making the most of the data they collect through their tech solutions. Nearly 40% find it hard to use data because it’s split across siloed platforms.
- Technical support is failing to deliver
Just one in four are very satisfied with the support or advice they receive from their providers.
“When tech works well, your restaurant works well,” says Vita Mojo’s co-founder and CEO, Nick Popovici. “But when it goes wrong – which is often – running a restaurant becomes an uphill struggle. By combining multiple point solutions from a range of different suppliers, the modern Point of Sale (POS) restaurant tech stack used by so many restaurants and chains has become a serious barrier to growth and success.”
“The results of this survey prove that the POS-centric model isn’t working for restaurants. From wasting time updating menus across multiple systems to spending countless hours updating pricing and site information, there are just too many ways in which restaurant tech isn’t making the grade.”
Along with insights from the survey results, Vita Mojo’s report includes real-life examples of exactly how restaurant brands are managing to overcome these tech challenges and fix inefficiencies, which has allowed them to operate and grow with new confidence.
About Vita Mojo
Vita Mojo transforms chaos into confidence for hospitality operators worldwide. Founded in 2016, Vita Mojo started life as the UK’s first cashless, digital-only restaurant, but it soon became clear the entire hospitality industry could benefit from its end-to-end, flexible Order Management System.
Today, Vita Mojo empowers over 130 brands across five countries (including LEON, YO!, tossed and GAIL’s Bakery) to streamline order management, improve guest relationships, seamlessly expand across channels, and grow their business.
For more information visit www.vitamojo.com
View original content:https://www.prnewswire.co.uk/news-releases/67-of-larger-hospitality-operators-are-unhappy-with-their-current-tech-stack-insights-unveiled-in-new-research-report-from-vita-mojo-301936223.html
Ghana launches USD 550 billion Energy Transition and Investment Plan for achieving net-zero emissions, creating 400,000 jobs by 2060
President Nana Akufo-Addo unveils country’s roadmap for green growth and decarbonizing key economic sectors developed by Government of Ghana and SEforALL
NEW YORK, Sept. 22, 2023 /PRNewswire/ — His Excellency Nana Akufo-Addo, President of the Republic of Ghana, launched the country’s new Energy Transition and Investment Plan yesterday during a Global Africa Business Initiative event in New York.
The plan marks Ghana’s commitment to fighting climate change and fostering economic development in tandem. It details a credible pathway for how Ghana can achieve net-zero energy-related carbon emissions by 2060 through the deployment of low-carbon solutions across key sectors of its economy, including oil and gas, industry, transport, cooking, and power.
Ghana’s government intends to use the plan as its main tool to engage the international community and investors for support with its energy transition. All measures suggested in the plan represent a USD 550 billion opportunity for the international community to invest in sustainable development in Ghana. If the plan is achieved in full, it would generate 400,000 net jobs within Ghana’s economy.
The country’s existing Energy Transition Framework previously set a target of net zero by 2070, but this new plan shows Ghana has increased its ambition and is targeting net zero by 2060.
Various sectoral changes and technologies are proposed in the plan. Four main decarbonization technologies – renewables, low-carbon hydrogen, battery electric vehicles and clean cookstoves – would cover over 90 percent of the targeted abatement by 2060.
Without pursuing the plan, under a business-as-usual scenario, Ghana’s emissions are expected to rise from 28 Mt CO2e in 2021 to over 140 Mt in 2050, with the bulk of emissions growth coming from transport, driven by population growth, GDP per capita growth, and vehicle ownership.
By implementing this plan, Ghana and its partners can instead bring the country’s energy-sector-related carbon emissions to net zero, while demonstrating that action against climate change does not need to come at the expense of economic development.
The Energy Transition and Investment Plan was developed by the Government of Ghana with technical support from Sustainable Energy for All (SEforALL).
“This pioneering Energy Transition and Investment Plan maps out Ghana’s journey to achieve net-zero emissions by 2060 based on the latest data and evidence, ensuring that as our economy thrives, it does so in harmony with the environment. This plan is a testament to our dedication to fostering green industries, nurturing the evolution of cutting-edge low-carbon technologies, and propelling our nation towards a sustainable industrial revolution while giving equal growth opportunities to men and women.”
-His Excellency Nana Akufo-Addo, President of the Republic of Ghana
“Ghana’s commitment to a just and equitable energy transition has translated to an ambitious plan that builds a case for low-carbon and energy-efficient solutions across Ghana’s entire energy system. These solutions present a tremendous opportunity for partners and investors from around the world to contribute to climate action and sustainable development in Ghana.”
–Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, and Co-Chair of UN-Energy
View original content:https://www.prnewswire.co.uk/news-releases/ghana-launches-usd-550-billion-energy-transition-and-investment-plan-for-achieving-net-zero-emissions-creating-400-000-jobs-by-2060–301936200.html
World Investment Forum to incentivize global investment in sustainable development
ABU DHABI, UAE, Sept. 22, 2023 /PRNewswire/ — Recognizing sustainability as the defining challenge of our time, the upcoming UNCTAD World Investment Forum (WIF), to be held from 16 to 20 October 2023 in the UAE’s capital Abu Dhabi, will serve as the perfect opportunity to facilitate the transition to a more sustainable economy, particularly for developing countries.
The 8th edition of the Forum, to be anchored on the overall theme of “Investing in Sustainable Development,” will bring together heads of state and ministers, CEOs of largest global companies, and other investment stakeholders from various countries to formulate policies and strategies that will address key and emerging investment-development challenges through a series of local and international forums and conferences.
Over 7,000 investment stakeholders from 160 countries will be participating in the 8th edition of WIF at the Abu Dhabi National Exhibition Centre (ADNEC).
The UAE hosting WIF this year coincides with the country’s declaration of the year 2023 as the “Year of Sustainability,” which will encourage nationwide commitment to sustainable practices and innovative solutions to help address environmental issues on a global scale.
His Excellency Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, reaffirmed the country’s dedication to sustainability, saying that “the UAE is committed to playing a leading role in the global transition to a more sustainable future. We believe that WIF 2023 will provide a unique platform for international leaders to come together to mobilize the necessary investments to make this transition a reality.”
His Excellency Rashed Abdulkarim Al Blooshi, Undersecretary of the Abu Dhabi Department of Economic Development (ADDED) said: “Hosting WIF 2023 reflects Abu Dhabi’s approach and commitment to sustainable socio-economic development, which is based on strong beliefs and a long history of the wise use of resources. We will be working closely with all partners to ensure that the Forum’s conversations generate innovative ideas and solutions to create a more sustainable future for all.”
Some of the sustainability sessions include “Delivering Public Sector Investment for Sustainable Development” in partnership with ACCA; “Alignment of Investment in Sustainable Infrastructure with the Paris Agreement” with Middlesex University Dubai; and “Accelerating Green Investments in Tourism for Sustainable Development” with the United Nations World Tourism Organization (UNWTO).
- 67% of larger hospitality operators are unhappy with their current tech stack: insights unveiled in new research report from Vita Mojo
- Ghana launches USD 550 billion Energy Transition and Investment Plan for achieving net-zero emissions, creating 400,000 jobs by 2060
- World Investment Forum to incentivize global investment in sustainable development
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