Thursday, September 17, 2015

"Tesla signs another deal with a company developing a lithium mine" (TSLA)

As foretold by the prophecy:
If somebody doesn't figure something out Tesla will be buying 100% of the world's land-based production within five years.Yeah, we've been following this stuff for a while....
From ars technica:

Pure Energy Minerals could sell lithium hydroxide to Tesla at below market price
On Wednesday, Canadian company Pure Energy Minerals announced that it signed an agreement with Tesla Motors to develop a lithium mine in Nevada

The mine site is just three and a half hours from Tesla's Gigafactory, which is currently being built outside of Reno, Nevada. The first phase of the Gigafactory, which is also backed by Panasonic, should be completed next year. When the factory is completed, it could supply up to 35 gigawatt-hours of batteries, which will be used in Tesla's electric cars and stationary storage home battery units. 
Pure Energy Minerals still has to complete a preliminary economic assessment to confirm that it can move ahead with the mining operations in Clayton Valley, Nevada. The company owns an expanse of lithium brine in that area, which would supply the lithium hydroxide that Tesla needs to produce its batteries if the mining -company meets its milestones for development.

If Pure Energy Minerals' preliminary assessment is positive, Tesla has agreed to purchase a set amount of lithium for five years at a predetermined price below current market rates.

The deal is similar to one announced last month between Tesla, Bacanora Minerals, and Rare Earth Minerals to develop a lithium mine in northern Mexico. Both deals specify that Tesla can buy lithium from a variety of sources, and both deals are contingent on the economic feasibility of the mining operations....MORE