American Lithium Company sees the rapid development of major lithium projects in the United States

Toronto, June 21 -- lithium-electric is planning to rapidly develop its Thackerpass lithium battery project in Nevada, and the company said Thursday that it had released a feasibility study on America's largest deposit of key battery materials.

The project has proven resources of 3.1 million tons of lithium and requires a new extraction technology because there is currently no lithium-clay operation in the world.

The Vancouver based company said it could make lithium batteries in less than 24 hours using a process developed in partnership with major shareholders and Chinese producer ganfeng lithium.

According to the current plan, the open-pit mine will operate for 46 years. The first phase will produce 30,000 tons of battery-grade lithium each year and the second phase will produce 60,000 tons of lithium.

Lithium is one of the 35 minerals that the United States considers essential to its economy and security. The report of the Ministry of Commerce recommended reducing import dependence on these commodities, including simplified licensing and review, which is expected to take place in mid-August.

The company said it could support the federal government in intensifying domestic production of lithium by speeding up the approval process.

The first phase of the ThackerPass construction will cost 581 million U.S. dollars, which will take about 21 months and be put into production in 2022, the company said. The second phase is expected to cost 478 million U.S. dollars and is expected to start production in 2025 and 2026.

"As an economically powerful lithium power project in the United States, we expect ThackerPass to attract important strategic cooperation opportunities to speed up the road to production," said Tom Hodges, chief executive of lithium America, in a statement.

The company said it was considering a range of development options, including the sale of intermediate lithium products that were eventually processed by other companies, on-site lithium ion battery recycling facilities and mine ownership, and the construction or operation of a partnership sulfuric acid plant.

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