American Battery Metals Corporation (OTCQB:ABML) CEO Doug Cole weighed in Friday on the state of the lithium-ion battery supply chain amid the coronavirus pandemic, arguing for bold action on the part of the US.
Simon Moores, the managing director of battery metals price reporting agency Benchmark Minerals, testified on the subject to the US Senate Energy and Natural Resources Committee on June 24, which caught the CEO’s attention.
“Building supply chains for a lithium-ion economy is critical, but progress in the US has been far too slow,” Moores told the committee. “Those who invest in battery capacity and supply chains today are likely to dominate this industry for generations to come. It is not too late for the US, but action is needed now.”
READ: American Battery Metals selects northern Nevada for its lithium-ion battery commercial pilot recycling plant
“Simon highlights an important point,” Cole said in a statement. “In spite of the recent global economic slowdown, projections for electric vehicles and other sectors that utilize lithium-ion batteries have not tempered a bit. Consequently, we must aggressively develop domestic North American supply chains, everything from responsible mining to recycling.”
American Battery Metals is developing a lithium-ion battery recycling plant, and is prepared to play a significant role in the near and long term development of domestic supply chains for lithium, cobalt, nickel, and other key battery metals, the company said.
“Our lithium-ion battery recycling plant is nearly ready to launch, so American Battery Metals Corporation will soon be recycling lithium-ion batteries in Nevada and redeploying the battery grade materials immediately back into the supply chain,” Cole said. “Additionally, our extraction technology will help us and our strategic partners to pinpoint the best processes and methods for extracting lithium and other metals from the various host materials, including brine and clay.”
The company is based in Incline Village, Nevada, a state Cole believes is just getting started in the battery metals sector.
“Nevada is now on everyone’s radar as an appreciable and necessary source for lithium,” Cole added. “We fully intend to round out our impact approach by developing our existing, and future, resource claims.”
Doug Nickle, head of business development and government affairs, told investors that the company hasn’t been slowed in recent weeks.
“We haven’t slowed down a bit,” Nickel said. “Our fundamental planning is sound, and we are creating our own momentum through diligent work and strategic execution. We are committed to a universally sustainable approach across our verticals, and we’re grateful for the energy and enthusiasm of the various local, state of Nevada, and federal agencies and individuals that have been so supportive of our endeavors.”
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