American Battery Metals Corporation (OTCMKTS:ABML) CEO Doug Cole told investors Wednesday that a recent lithium discovery in California by London-based Rio Tinto plc (LON:RIO) is a promising moment for the industry as a whole.
The miner said it could become the largest supplier of lithium in the US if it can successfully process the metal at a large scale, according to a report from the Financial Times in October.
Cole believes Rio Tinto’s success is good for the US lithium sector — and for American Battery Metals.
READ: American Battery Metals says chief executive officer had series of successful meetings with key US lawmakers, government personnel
“The Rio Tinto project is potentially great news for all domestic lithium projects in America,” Cole said in a statement. “The United States is working hard to break free from its reliance on foreign sources of critical minerals, and any domestic operation that can bring resources online in the near term will inspire action in the investment community."
In addition to its own lithium mining claims at Railroad Valley, Nevada, American Battery Metals operates in the extraction and battery recycling spaces, two verticals Cole says can generate revenue from other companies.
"At American Battery Metals Corporation, we are as collaborative-minded, and seek to help advance all domestic exploration and production of battery metals,” Cole added. “Aside from our own exploration and mining efforts in Nevada, our extraction and battery recycling technologies can be of tremendous value to other companies."
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel