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Avalon Advanced Materials Inc.: Avalon Reports on Separation Rapids Lithium Project Progress as Lithium Prices Continue to Rise
Avalon Advanced Materials Inc.
(TSX: AVL) (OTCQB: AVLNF) ( Avalon or the Company ) is pleased to provide an update on recent developments on its 100% owned Separation Rapids Lithium Project located near Kenora, ON and on lithium markets generally. As recently reported by Benchmark Minerals Intelligence, Lithium prices are continuing to rise in China, with both technical and battery-grade carbonate prices having doubled year-to-date. The price of technical grade lithium carbonate was up 114.3% and battery-grade material was up 103.4% since the start of 2021 with technical grade selling at US$12,700/tonne and battery-grade at $13,625/tonne. With the overall lithium market expected to be in deficit, industry sources were predicting prices to rise above $15,300/tonne in 2021, according to Benchmark.