American Lithium Minerals Inc. (OTC BB: AMLM.OB) developing projects for lithium, the mineral used to manufacture the rechargeable battery of choice for computers, cell phones, and electric and hybrid-electric cars. With lithium being such an important component of the U.S. government’s green energy plan, demand for lithium-powered vehicles is expected to increase fivefold by 2010.
Moving Borate Hills to Feasibility PhaseI
-Intent is to advance to feasibility by spring 2011
-Investing US$4.5 million dollars over the next year to complete an economic pre-feasibility study
-Phase I will include surface sampling, reconnaissance drilling and metallurgical testing.
The Borate Hills Project is a large co-product lithium and boron deposit located 20 miles west of the only producing lithium mine in North America. Recently reported Japan Oil, Gas and Metals National Corporation (JOGMEC) investment will fund completion of an economic pre-feasibility study for the Borate Hills Project. The project features a very large deposit of relatively high grades of 2750 ppm lithium (0.275%) and 10,000 ppm boron (1%).
JOGMEC’s decision to join forces with AMLM will enable American Lithium to advance the pre-feasibility stage of the Project and is ultimately expected to be instrumental in increasing the United States’ market share of production of goods using lithium power, particularly in the area of electronics and automobiles where this technology is being used increasingly more often by manufacturers due to its longer battery life and lighter weight.
Click on the picture below to see AMLM ‘s Project maps
Demand for lithium-powered vehicles is expected to increase fivefold by 2012. The domestic automotive industry must secure a lithium source to supply the next generation of hybrid-electric and electric vehicles.
. GM has announced plans to build a lithium-ion (Li-ion) battery plant to supply the power for its
Chevy Volt, scheduled to debut in 2011.
. BMW plans to launch its remodeled Li-ion battery-powered 750i luxury sedan to the Japanese in
2010. This year, the company is producing 500 all-electric MINI Es, also with Li-ion batteries, for
leasing in select cities.
. Toyota plans to launch plug-in hybrid Priuses with Li-ion batteries later this year.
. Mercedes-Benz plans to launch its S400 Blue HYBRID with a Li-ion battery next year.
. The Ford Escape plug-in hybrid with the same power technology is slated for 2012.
. The Tesla Roadster, Chyrsler EcoVoyager, Dodge ZEO, Jeep Renegade and the Saturn Flextreme are all
slated for li-ion batteries.
. Nissan will use Li-ion batteries for the 65,000 hybrids they hope to manufacture by 2010.
. Mitsubishi Motors Corp. anticipates that demand will increase fivefold to meet the needs of electric
The president has signed a $790 billion economic stimulus plan that includes $5 billion for the development of a domestic battery industry including:
(1) $2 billion in loans, grants and tax credits to help stimulate the development and large-scale domestic
production of advanced, lithium-ion batteries for hybrid and electric cars.
(2) Up to $2.4 billion in tax credits for building battery plants.
(3) Another bonus included is a $7,500 tax credit for people who purchase plug-in hybrid cars, which will
indirectly boost lithium-ion battery production.
According to the U.S. Geological Survey (USGS) ,demand for lithium destined for battery usage is predicted to grow by 20% per year!
Currently the worldwide market for lithium batteries is estimated at over $4 billion a year.
Keep AMLM on your watch list from now!
For more information about this company (AMLM) please visit http://www.americanlithium.com