American Battery Metals Corporation discussed why automakers are taking a keen interest in building relationships with battery metals resource.
American Battery Metals Corporation (OTCQB:ABML) (the “Company”), an American-owned advanced technology battery recycling and resource production company based in Nevada, today discussed why automakers are taking a keen interest in building relationships with battery metals resource and production companies.
Near the end of 2019, Tesla’s Founder and CEO Elon Musk told a technology audience, “There’s not much point in adding product complexity if we don’t have enough batteries.” In a follow up tease, he said, “We might get into the mining business.”
Musk’s comments are emblematic of the sentiment of global automakers who are shifting their focus from internal combustion engine (ICE) powered vehicles to Electric Vehicles (EV). This is causing many automakers to seek relationships directly with upstream suppliers of critical minerals. Battery metals- like lithium, cobalt, nickel, manganese, and aluminum- are fundamental to the manufacture of the batteries that power electric vehicles.
American Battery Metals Corporation CEO Doug Cole says, “It makes sense that automakers want to forge relationships with companies that bring metals like lithium to the market. But they don’t really need or want to get into the mining business; they simply want to guarantee a steady, trusted supply of resources so they can accurately plan and deliver on their EV production forecasts.”
What inspires confidence for automakers in such a direct relationship? After all, car makers make cars. Resource production companies mine for raw materials.
“Confidence in any relationship comes from trust,” says Cole. “Automakers and investors alike need to know that a supplier of raw materials is consistent in its ability to execute. At American Battery Metals Corporation, we’re more than a resource production company. We are also developing our extraction technology and battery recycling process, which demonstrates a unique, closed loop vertical integration strategy that focuses on both the short and long term needs of the market.”
American Battery Metals Corporation
American Battery Metals Corporation (www.batterymetals.com) (OTCQB:ABML) is an American-owned, advanced technology battery recycling and resource production company based 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.