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Lithium ETF tops USD20m in assets


Mammoth Energy Group says the Lithium ETF sponsored by Global X has topped USD20m in assets.

It is the first product that gives investors a way to get exposure to this rare but increasingly popular metal.

The fund is evenly split between lithium producers and battery producers, with the heaviest weights given to the lithium industry’s largest producers, who make up 44 per cent of the fund’s assets.

The US is the largest country weighting at 49 per cent. Chile, the world’s largest producer of lithium, is 20 per cent of the fund. Japan, Canada, France and Australia all have smaller weightings.

"We expect Global X and the ETF Lithium fund to take serious notice as the development of the Salar de Maricunga moves forward," says William Lieberman, president of Mammoth Energy Group.

Mammoth Energy Group has signed a letter of intent to acquire 49 per cent of Salt Gold Inter Chile and a memorandum of understanding to acquire the remaining shares. Salt Gold Inter Chile lithium concessions are located in the North West region of Chile in the heart of the lithium belt stretching across Bolivia, Chile and Argentina.

Mammoth Energy Group Inc is focused on acquiring, developing and operating strategic mining energy reserves in locations throughout the world.

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