SAN ANTONIO--(BUSINESS WIRE)--Nova Mining Corp. (OTCBB:NVMN): News author Tina Casey reported earlier this week that the U.S. Government, through U.S. Department of Energy funding, has recognized the problems that the current lithium supply shortage has had on the U.S. lithium-ion battery market, which has been plagued by concerns over prices and supply. According to the report, “Bloomberg News has noted that the lithium supply issue has been heating up, with skyrocketing demand for iPads and other mobile devices leading to a recent tripling of prices. If that trend continues into the foreseeable future, it could put a real kink in the President’s efforts to revive domestic manufacturing across the spectrum of battery-operated products, especially when it comes to electric vehicles like the Chevy Volt…Even if the global supply of lithium was more expansive, the lack of a sufficient domestic supply exposes the U.S. to the same geopolitical issues that have bedeviled the petroleum markets for generations.” The full article can be seen at http://www.triplepundit.com/2012/07/lithium-supply-bottleneck-eased-new-plant/
“Our lithium production acquisition timing looks to be on target for the best potential profitability.”
“With the U.S. Government now entering the rush to grab lithium supplies, we believe that the prices and demand for lithium will further escalate at an exponential pace,” stated Nova Mining President James Dilger. “Our lithium production acquisition timing looks to be on target for the best potential profitability.”
Nova Mining Corp has recently contracted with MNMC for the exclusive right to purchase 100% of the lithium produced from three large licensed MNMC mining properties at a discount to market price. MNMC is a Hong Kong company, with its principal business operations in Ulaanbaatar, Mongolia. MNMC is the registered owner of multiple mining properties that are located in Mongolia. Recent Surveys of MNMC’s large mining properties indicate significant quantities of commercially recoverable Lithium reserves. As part of the new lithium purchase deal, Nova Mining is performing Due Diligence on the three licensed lithium fields, prior to both parties promulgating the Definitive Mineral Production Agreement. Nova has reported that the due diligence is currently proceeding well on all three lithium fields.
Nova Mining Corp. (NVMN) seeks out the most potentially lucrative mining projects and supplies of strategic high-demand minerals, such as lithium, as part of its aggressive economic business model. Lithium is the main ingredient in long life batteries, like those used in many of Apple’s popular electronic devices, Microsoft’s new Surface tablet and Tesla Motor’s new electric cars.
More information on Nova Mining Corp can be seen at: http://www.nova-mining.com
About Nova Mining Corp. (OTCBB:NVMN)
Nova Mining Corporation is a Nevada corporation listed on the OTCBB under the trading symbol NVMN. The Company is a growth-focused entity that seeks to acquire an international portfolio of strategic high-demand mineral mining assets. Nova Mining competes in an industry sector that includes FMC Corp.
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