The Falkenhain deposit, in the German state of Saxony, is located about 5 km from another Bacanora asset in Germany — the 50%-owned Zinnwald lithium project.
The mine could supply up to 10% of world demand for neodymium and praseodymium, used in the manufacture of magnets for wind turbines, and electric vehicles.
The mining cycle turned two years ago – gains for the sector's largest companies have far outpaced stocks like Apple, Amazon, Google and Facebook since.
Breakthrough discovery backed by the US government replaces cobalt with iron in lithium-ion batteries – enabling much cheaper, longer lasting batteries.
There is a powerful economic tail-wind in play right now. Battery technology and prices are continuing to get cheaper, Solar, wind, and batteries are all getting more affordable and as technology improves the energy metals look increasingly promising.