Latest news with #AmericanBatteryMaterials
Yahoo
13 hours ago
- Business
- Yahoo
American Battery Materials Announces Expansion of Strategic Focus to Include Magnesium Recovery at Utah's Paradox Basin
GREENWICH, CT / / June 18, 2025 / American Battery Materials, Inc. (OTC PINK:BLTH) ("ABM"), a U.S.-based company dedicated to advancing critical mineral resource development, today announced that it is expanding its strategic extraction efforts beyond lithium to include magnesium recovery at its flagship project in Utah's Paradox Basin. The Paradox Basin resource - already recognized for its lithium concentrations - also contains high levels of Magnesium. ABM's mineral rights cover 743 claims across 14,260 acres, offering a unique opportunity to co-extract lithium and magnesium using advanced Direct Lithium Extraction (DLE) techniques. "Expanding our efforts to recover magnesium is a natural progression of our mission to support the U.S. energy transition," said David E. Graber, CEO of American Battery Materials. "With demand for lightweight metals growing across the defense, aerospace, and automotive industries, developing a domestic magnesium supply chain is vital for national competitiveness and sustainability." Magnesium, recently identified as a critical material by the U.S. Department of Energy and the Department of Defense, is essential in a variety of high-growth sectors, including electric vehicles, electronics, biodegradable medical implants, and lightweight structural components. ABM's DLE-based approach is designed to efficiently recover both lithium and magnesium with minimal environmental impact. The company's closed-loop extraction system returns the majority of extracted brine to its source, significantly reducing land usage and eliminating the need for open-pit mining or evaporation ponds. About American Battery Materials, Inc. American Battery Materials, Inc., headquartered in Greenwich, Connecticut, is a U.S.-based company focused on the exploration, acquisition, and development of lithium and other battery materials critical to the global energy transition. ABM is committed to sustainable practices and delivering value to its stakeholders through strategic partnerships and innovative projects. For Media Inquiries: American Battery Materials, Inc.500 West Putnam Avenue, Suite 400Greenwich, CT 06830+1 800-998-7962ir@ To the extent that statements contained in this press release are not descriptions of historical facts regarding the Company, they are forward-looking statements reflecting the current beliefs and expectations of management. Words such as "believe," "goal," "plan," "feel," "may," "will," "expect," "anticipate," "estimate," "intend," "target" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause our future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its Quarterly Reports on Form 10-Q, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and may be viewed at Contact Details Investor Relations+1 800-998-7962ir@ Company Website SOURCE: American Battery Materials Inc View the original press release on ACCESS Newswire
Yahoo
27-03-2025
- Business
- Yahoo
American Battery Materials and XTC Lithium Limited Announce Letter of Intent for Strategic Partnership in Carachi Lithium Project
GREENWICH, CT / / March 27, 2025 / American Battery Materials, Inc. (OTC PINK:BLTH) (ABM), a Delaware-based corporation dedicated to advancing lithium resource development, and XTC Lithium Limited (XTC), an Australian corporation, are pleased to announce the signing of a non-binding Letter of Intent (LOI) outlining summary terms of a proposed partnership to develop the Carachi Lithium Project in Argentina's Catamarca Province. The Carachi Lithium Project, held by XTC's wholly owned Argentine subsidiary, XTC Lithium Argentina SAR (XLA), comprises several exploration properties within Argentina's renowned Lithium Triangle. This region is globally recognized for its rich lithium deposits, a critical component in the production of batteries for electric vehicles and renewable energy storage. Under the terms of the LOI, ABM will have the opportunity to acquire up to a 50% interest in the Carachi Lithium Project. Additionally, upon securing a 10% interest in the Project, ABM will have the right to enter into a joint venture agreement with XTC for the continued exploration and development of the mining tenements. "This Letter of Intent represents a pivotal step in our strategy to expand our footprint in the global lithium market," said David E. Graber, CEO of American Battery Materials, Inc. "Partnering with XTC Lithium LTD, gives us access to a promising project in the heart of the Lithium Triangle, and we look forward to working together to unlock its full potential." Mr. Graber also said, "Beyond proven geological data on the salar, Xantippe (XTC Lithium) has an excellent operating team in place that is personally invested in the project. Those individuals have a successful track record in identifying, developing and financing projects all the way through a sale." John Featherby, Chairman of XTC Lithium Limited, added, "We are excited to collaborate with ABM on the Carachi Lithium Project. Their expertise and shared commitment to sustainable resource development make them an ideal partner as we advance this project toward production." Although ABM has entered into the LOI with respect to a proposed partnership to develop the Carachi Lithium Project, such transaction is subject to the execution and delivery of a definitive agreement and the satisfaction of the closing conditions which will be contained therein, including securing all necessary statutory, corporate and regulatory approvals and obtaining cash proceeds from financing arrangements. There can be no assurance that a definitive agreement will be entered into, or that the Carachi Lithium Project transaction will be consummated upon the terms set forth in the LOI, or otherwise. The proposed partnership underscores both companies' commitment to meeting the growing global demand for lithium, driven by the rapid expansion of the clean energy sector. The parties will now work toward finalizing a definitive agreement and obtaining all required approvals to move forward with the transaction. About American Battery Materials, Battery Materials, Inc., headquartered in Greenwich, Connecticut, is a U.S.-based company focused on the exploration, acquisition, and development of lithium and other battery materials critical to the global energy transition. ABM is committed to sustainable practices and delivering value to its stakeholders through strategic partnerships and innovative projects. About XTC Lithium LimitedXTC Lithium Limited, based in Wollstonecraft, NSW, Australia, is an exploration and development company with a focus on lithium resources in Argentina and other regions. Through its subsidiary, XTC Lithium Argentina SAR, the company is advancing projects in the Lithium Triangle, a globally significant region for lithium production. For Media Inquiries:American Battery Materials, Inc.500 West Putnam Avenue, Suite 400Greenwich, CT 06830+1 800-998-7962ir@ XTC Lithium Limited63 Sinclair StreetWollstonecraft NSW 2065, Australia Forward-Looking Statements: This press release contains forward-looking statements, including statements regarding the potential partnership between ABM and XTC, the development of the Carachi Lithium Project, and the expected outcomes of the proposed transaction. Such statements are subject to risks and uncertainties, including the failure to finalize a definitive agreement, obtain necessary approvals, or meet other conditions. Neither ABM nor XTC undertakes any obligation to update these statements based on future events or developments, except as required by U.S. federal securities laws. SOURCE: American Battery Materials, Inc. View the original press release on ACCESS Newswire Sign in to access your portfolio
