- Write by:
-
Tuesday, January 22, 2019 - 10:06:19 AM
-
1059 Visit
-
Print
Mining News Pro - Canadian junior American Lithium Corp. (TSXV: LI) is expanding its footprint into the critical battery metals sector by agreeing to buy Alaska Nevada Mining’s 100% interest in the Extinction Ridge vanadium project in Nevada, USA.
According to Mining News Pro - The Vancouver-based miner, which is currently exploring and developing two lithium projects in Nevada, said Extinction Ridge was a “high-quality” exploration asset whose location would allow American lithium to conduct exploration programs concurrent with its operations in the area.
The company said it has yet to decide the role the new asset will play within its longer term asset strategy.
“Although we have yet to decide the role this asset will play within our longer term asset strategy, its location, acquisition cost and surface exploration results, presented a decisive project opportunity to be seized,” chief executive Mike Kobler said in a statement.
Vanadium, named after the Norse god of beauty Vanadis, was only isolated in metallic form in the second half of the 19th century.
But its properties, particularly its capacity to strengthen steel, were quickly appreciated. Henry Ford`s Model T car used the metal in its steel alloy chassis.
Now the metal is increasingly being used in clean energy solutions. The vanadium redox flow battery (VRFB) is a breakthrough technology in energy storage, a fast-growing component of the infrastructure needed to accommodate the global shift to renewable energy.
Vanadium is also on the U.S. National Security List as being a critical mineral to the economic and national security of the country and Europe.
Short Link:
https://www.miningnews.ir/En/News/328801
Chile’s state-run miner Codelco plans to select a partner for a future lithium project in one of the country’s top salt ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Lithium supplier Vulcan Energy on Wednesday announced the start of production of the first lithium chloride at its ...
A stuttering recovery in lithium prices is providing a fresh reminder of why the dramatic rally of recent years was ...
A US and European Union push to reach an accord on fostering critical mineral supply chains is set to miss another ...
Trading of CME Group Inc.’s nearly three-year-old lithium hydroxide futures contract is soaring, with more funds ...
Chile’s mining production is starting to turn the corner after months of a sustained output slump, with the country’s ...
Undeterred by slumping profits, China’s lithium giants are planning to grab a bigger slice of the market.
Mitsui & Co said on Thursday it will spend $30 million to take a 12% stake in US-based Atlas Lithium to venture into ...
No comments have been posted yet ...