American Battery Metals Corporation (OTCQB:ABML) today addressed the coronavirus and the implications of a supply chain currently dominated by China.
American Battery Metals Corporation (OTCQB:ABML) (the “Company”), an American-owned advanced extraction and battery recycling technology company with extensive mineral resources in Nevada, today addressed the coronavirus and the implications of a supply chain currently dominated by China.
Just as the battery metals markets, particularly lithium, started to see signs of a pricing rebound in the first quarter of 2020, the novel coronavirus was declared a pandemic. Although the virus has not yet proven to be worse than the common cold or flu, it has wreaked havoc on the global markets and battery metals supply chains.
The big 3 lithium companies have telegraphed profit warnings due to coronavirus-driven logistics issues in the supply chain, highlighting just how reliant the United States is on China for the critical minerals necessary for electric vehicles and stationary storage applications.
“America is only mining and producing a little more than 1% of the world’s lithium, yet we have huge amounts of resources ready to be developed,” said American Battery Metals Corporation Chief Executive Officer Doug Cole. “If coronavirus has shown us anything, it’s that we are far too reliant on China and other countries for key minerals like lithium, cobalt, and nickel. The United States is rich in these key metals, and we must quickly increase domestic investment to bring these resources into the supply chain.”
Sen. John Hoeven (R-North Dakota), a member of the Senate’s Energy and Natural Resources Committee, concurs. He stated, “We need to find ways to more efficiently develop our nation’s domestic critical mineral supply because these resources are vital to both our national security and our economy.”
American Battery Metals Corporation is taking a leading role in bringing strategic solutions to the battery metals supply chain challenges. In addition to its resource production and internally sourced processing train for the direct extraction of lithium, the company is set to launch a first-of-its-kind lithium-ion battery recycling facility in the second half of 2020.
“We have developed and are currently implementing an integrated, scalable, commercial plant for the universal recycling of lithium-ion batteries of various form factors and chemistries,” said American Battery Metals Corporation Chief Technology Officer Ryan Melsert. “Through our recycling process, we will “mine” lithium, cobalt, nickel and other key materials fundamental to lithium-ion batteries, from waste and end of life batteries. Our recycling process is environmentally-sustainable, and is a significant step toward a more circular economy.”
American Battery Metals Corporation
American Battery Metals Corporation (www.batterymetals.com) (OTCQB:ABML) is an American-owned, advanced extraction and battery recycling technology company with extensive mineral resources in Nevada. The company is focused on its lithium-ion battery recycling and resource production projects in Nevada, with the goal of becoming a substantial domestic supplier of battery metals to the rapidly growing electric vehicle and battery storage markets.
For more information, please visit:www.batterymetals.com
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial gold production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended September 30, 2019. The Company assumes no obligation to update any of the information contained or referenced in this press release.