- Recent report projects estimated growth of tellurium market at CAGR of 3.41% between 2022 and 2027
- Growth is tied to increased demand from the consumer electronics industry
- Company’s unique approach offers significant advantages over larger mines
With recent market projections showing steady growth in the tellurium market (https://nnw.fm/F9cMD), First Tellurium’s (CSE: FTEL) (OTCQB: FSTTF) small-mine, phased-approach strategy is sure to strengthen the company’s position in the growing space.
“The tellurium market is estimated to grow at a CAGR of 3.41% between 2022 and 2027,” a 2023 Technavio analysis study reported. “The size of the market is forecast to increase by 83.72 MT.” The report went on to take a closer look at the tellurium market based on application (solar panels, thermoelectric production, metallurgy and others), type (pure tellurium and telluride), and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
“The increased demand from the consumer electronics industry is notably driving market growth,” stated the report. “Tellurium alloys are commercially used in various consumer electronics products. They offer potential solutions to a wide range of applications such as mobile phones, LED displays and projectors, wearable electronic devices, gaskets and lighting, and rollers.
“Additionally, factors such as the increasing urban population, rise in disposable income, strong supply chain and high internet penetration also drive the growth of the global market,” the report continued. “Furthermore, the governments of many developing countries are providing exemptions on certain duties to boost the manufacturing capacity of consumer electronics manufacturers. Therefore, the high demand for this product will drive market growth during the forecast period.”
First Tellurium has worked hard to become a leader in this space. The company’s strategy is to start with a small mine and expand it over time (https://nnw.fm/zGHi6). The company is currently North America’s leading tellurium explorer with its Klondike tellurium-gold property in Colorado and polymetallic Deer Horn Project in British Columbia.
“A key driver of this strategy is Indigenous support, including potential investment and employment,” the company states on its website, noting that its unique approach offers significant advantages over larger mines, including lower exploration/development costs, significantly lower CapEx (only $28.3 million), faster time to production and cash flow, and exceptional post-tax payback (1.6 years). In addition, First Tellurium is able to deliver faster to buyers, has potential dilution-free funding for resource development along with a more simple permitting with a small mine application and a smaller environment footprint.
First Tellurium’s business model is designed to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration. “This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships,” the company stated. “First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.”
For more information, visit the company’s website at www.FirstTellurium.com.
NOTE TO INVESTORS: The latest news and updates relating to FSTTF are available in the company’s newsroom at https://nnw.fm/FSTTF
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