- American Lithium is a co-recipient of a US$4.5M U.S. Department of Energy grant
- The grant provides funding to complete the production of battery-grade lithium hydroxide precursor from American Lithium’s TLC Project
- American Lithium subsidiary, Macusani Yellowcake S.A.C, has been granted injunctive protection in relation to 32 concessions which are currently subject to an ongoing judicial review in Peru
- This injunction restores the ownership, rights and validity of the disputed concessions to Macusani while the legal process is ongoing
- American Lithium is engaged in the exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas
- American Lithium Corp. (LI) is down 6.48 per cent, trading at C$2.74 per share at 10:15 am EST
American Lithium is a co-recipient of a US$4.5M grant to complete the production of battery-grade lithium hydroxide precursor from American Lithium’s TLC Project.
American Lithium Corp. (LI) has been selected by the US Department of Energy Advanced Manufacturing Office (“DoE”), with co-recipient American Battery Technology Company (“ABTC”) and another industry partner, to receive grant funding totalling 50% of the capital cost for a US$4.5 million lithium extraction/hydroxide pilot plant.
The grant provides funding to complete the electrochemical production of battery-grade lithium hydroxide precursor from American Lithium’s TLC Project, near Tonopah, Nevada (“TLC”).
The funding is part of the US government’s efforts to reduce American dependence on foreign supply of battery metals required the electric vehicle sector.
While American Lithium will proceed with its own initiatives to establish the best, commercially viable process for lithium extraction from TLC, it will concurrently take part in this DoE funded pilot project utilizing ABTC’s technologies in combination with TLC claystone deposits.
Mike Kobler, CEO of American Lithium, stated,
“We are extremely pleased to partner with ABTC on this high-profile pilot project with funding from the Department of Energy. We believe that it is a strong validation of the unique characteristics of lithium mineralization at TLC that the US Government selected this project to back and provide funding for. It’s exciting to be working with ABTC and others on this multi-year, industry-led partnership to improve the production of lithium hydroxide from domestic sources.
Together, we can be leaders in the growth of lithium chemical supply in the burgeoning field of large-scale battery manufacturing in the United States.”
American Lithium is also pleased to refer readers to the announcement made by Plateau Energy Metals (‘Plateau”) on March 2, 2021, confirming that its subsidiary, Macusani Yellowcake S.A.C, has been granted injunctive protection in relation to 32 concessions which are currently subject to an ongoing judicial review in Peru.
This judicial process relates to claims from local regulators, disputed by Macusani, that it was late in paying its 2017 annual validity rights relating to these concessions.
This injunction restores the ownership, rights and validity of the disputed concessions to Macusani while the legal process is ongoing.
Both American Lithium and Plateau Energy Metals view this as a very positive development as it eliminates the possibility of any of the disputed concessions being transferred to other parties while the legal process is ongoing.
Simon Clarke, Director of American Lithium, stated, “Our recently announced acquisition of Plateau is made on the basis of the assets and team in place at the time of announcement and is not predicated in any way upon these disputed concessions being fully restored. We believe there are strong synergies between the two companies and a strong rationale for combining them.”
American Lithium, a TSX Venture 50 Company, is engaged in the exploration and development of lithium deposits within mining-friendly jurisdictions throughout the Americas.
The company is currently exploring and developing the TLC lithium project located in the Esmeralda lithium district in Nevada.
American Lithium Corp. (LI) is down 6.48 per cent, trading at C$2.74 per share at 10:15 am EST.
