Lithium Corporation (LTUM)

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Interesting news related to LTUM happened at 2:23

http://www.proactiveinvestors.com/companies/news/14186/albemarle-to-produce-lithium-carbonate-with-new-discovery-14186.html

Albemarle to produce lithium carbonate with new discovery
Fri 2:23 pm by Deborah Sterescu
Specialty chemical manufacturer Albemarle Corp (NYSE:ALB) said Friday it has discovered a technology to extract lithium from brine, allowing it to produce lithium carbonate from its Magnolia, Arkansas bromine facility.
Using this new technology and brine from its facility, the Louisiana-based company has already successfully produced lithium carbonate in a lab setting, and is currently operating a pilot plant to optimize the process.
Commercial production could begin as early as 2013, Albermarle said.
The market for lithium chemicals is growing rapidly, expected to reach $1.2 billion globally by 2015, primarily from increased demand for batteries in electrical vehicles.
"Over 70% of the U.S. demand for lithium is currently met by imports," said VP of the company's chemicals division, Sharon McGee.
"There is certainly a need for more domestic production with the growing market demand and Albemarle is encouraged that we will be able to meet that need."
The company's shares rose more than 2% on Friday to trade at $70.35 as of 2:22pmEST.