Lomiko Sees Long Term Recovery of Soda Ash Prices as a Postive Sign
September 23, 2010 TSX-V: LMR
LOMIKO SEES LONG TERM RECOVERY OF SODA ASH PRICES AS A POSTIVE SIGN
(Vancouver) LOMIKO METALS INC. (TSX-V:LMR, OTCQX: LMRMF, Europe: ISIN: CA54163Q1028, WKN: A0Q9W7,) Recent news from FMC Corporation indicating a continued trend of rising Soda Ash (Sodium Carbonate) prices bodes well from junior exploration companies in this area in the long term. FMC will increase prices for Soda Ash $ 10/short ton to a minimum of $ 260/ton based on bulk shipping rates. Prices are volatile and subject to change on a contract to contract basis.
World soda ash consumption is projected to grow at an average annual rate of about 2% through 2013. Projected regional average annual growth rates range from 4% for Asia to – 0.2% for North America and –0.1% for Europe. Developed countries have higher soda ash consumption but lower growth rates compared to developing countries. Source: Soda Ash: 2010 World Market Outlook And Forecast, Market Publishers, Ltd
Sodium carbonate is also an essential element in the processing of lithium, sulfates, magnesium and other marketable products from salt brines. A source of sodium carbonate increases the potential viability of lithium projects in the Atacama region of South America, especially Bolivia and to a lesser extent Chile, where magnesium has been identified occurring with lithium in sufficient quantities to cause concern over the increasing costs of processing the brine.
Lomiko Metals Inc. (“Lomiko” or “the Company) has acquired 100% of the EVA and PLAYA claims which comprise of 222.04 hectares and 222.09 respectively of semi-evaporitic lakes known as Rose Lake and Cunningham Lake located near 70 mile House, B.C.
Lomiko Metals Inc. is a Canadian-based junior company whose objective is to increase shareholder value through the acquisition and exploration of high quality mineral mining projects and development into a fully integrated battery supplier. Lomiko is currently exploring for salt brines that contain lithium, sodium, sulfate, chloride and potash in salt lakes or salars. Lomiko's growth strategy is to become a fully integrated supplier of lithium ion batteries. The potential for partnership in creating rechargeable lithium batteries to replace current polluting methods of energy is excellent in the newly developing electric car industry. Interest in lithium and lithium batteries is growing exponentially. The Company is committed to its development program and in showing corporate social and environmental stewardship in the arena.
For more information, please contact Paul Gill at 604-729-5312, email: [email protected] or refer to the website at: www.lomiko.com
On behalf of Lomiko Metals Inc.
Signed: “A. Paul Gill”
A. Paul Gill, President & CEO
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