When Harvard professor Clayton Christensen coined the term ‘disruptive innovation’, he had in mind technologies like the one being developed by MGX Minerals, Inc. (OTC: MGXMF) (CSE: XMG) (FRA: 1MG). This innovative company is poised to ignite a revolution in the energy sector with technology that extracts lithium from oil and gas wells. Its PetroLithium™ methodology separates valuable minerals from the salt water that typically accompanies crude oil, offering a novel way to extract lithium, an essential ingredient in the batteries of our laptops, mobile phones, and other electronic devices and, increasingly, our cars. As MGX refines its technology, it is quickly acquiring oil and gas properties, and operation of its initial Petrolithium™ borehole well is set to commence soon.
In an Emerging Theme Radar report (http://nnw.fm/S7uPN), Goldman Sachs (GS) called lithium the ‘new gasoline’, saying its ‘unique properties make it a key enabler of the electric vehicle revolution’. Advances in battery technologies and a growing desire to avoid the hazards of fossil fuels signal a period of sustained growth for electric vehicles, which are forecast to rise from their present three percent of the automobile market to a penetration of 22 percent by 2025. Current demand for lithium runs to about 160,000 metric tons. According to GS, ‘a one-percent increase in battery electric vehicle penetration would increase lithium demand by 70,000 metric tons of…
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