Nova Mining Corp announced that the Company has moved to secure valuable lithium supplies by executing a Letter of Intent with Mongolian National Mining Consultants Limited (MNMC) for the exclusive right to purchase 100% of the lithium produced from MNMC mining properties at a discount to market price. As part of the deal, Nova Mining will have the right to perform Due Diligence, prior to both parties negotiating a Definitive Mineral Production Agreement. MNMC is the registered owner of multiple mining properties that are located in Mongolia.
"We expect lithium to become a critical-supply mineral," said James Dilger President of Nova Mining Corp. "Nova Mining has moved to secure the lithium production from three major licensed Lithium fields. We believe this will prove to be a very lucrative development. Lithium is in very high demand due to consumer electronics manufacturing, new electric vehicles and new military needs putting pressure on the current worldwide supply," he concluded.
Nova Mining Corp. (NVMN) seeks the most out potentially lucrative mining projects and supplies of strategic high-demand minerals, such as lithium, as part of its newly-instituted aggressive business model. Lithium is the main ingredient in long life batteries, like those used in many of Apple’s (NASDAQ: AAPL) popular electronic devices, Microsoft’s (NASDAQ: MSFT) new Surface tablet and General Motor’s (NYSE: GM) new Volt electric automobile.