American Battery Metals Corporation (OTCQB:ABML) responded Thursday to comments from the managing director of the lithium price reporting agency Benchmark Minerals Intelligence, who spent time briefing the White House and Pentagon last week on the state of global lithium production.
Simon Moores, the managing director of the London-based agency, confirmed the US government is in discussion about American minerals independence and the lithium-ion battery metals supply chain.
On his LinkedIn page, Moores noted that China is ramping up production to reach 1,400 gigawatt hours per year (GWh/yr) by 2028, drawing production from 74 battery megafactories. The US, meanwhile, currently produces 155 GWh/yr from 5 megafactories, the bulk of which comes from Tesla Inc’s (NASDAQ:TSLA) Gigafactory in Nevada.
“The US will need ten Gigafactories in this time period to keep pace with the energy storage revolution,” Moores said. “Key to success is building out the supply chain ecosystem: lithium mining, cathode making, battery recycling.”
That’s where American Battery Metals comes in, CEO Doug Cole said.
"This is precisely why American Battery Metals Corporation is aggressively developing our 3 verticals that address each of those legs of the supply chain ecosystem," Cole said in a statement. "We're intensifying our lithium exploration on our claims in Nevada with a near term eye on production. Secondly, we're continuing to refine and optimize each of the technologies within our lithium extraction train. While through our third vertical, we are executing our battery recycling technology that will process everything from scrap to end of life batteries from consumer electronics, electric vehicles, and energy storage applications."
The company, which possesses more than 26,000 acres worth of lithium claims in Railroad Valley, Nevada, was recently selected by BASF to participate in its Circularity Challenge accelerator program for battery recycling.
"In addition to the execution of these three verticals through the internal efforts of American Battery Metals Corporation, we are also working with industry sponsors and partners, such as premier active battery cathode manufacturer BASF, to ensure that the battery grade feedstocks produced by American Battery are integrated in to the global battery manufacturing infrastructure," Chief Technology Officer Ryan Melsert said.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel