American Battery Materials Seeks $40.75 Million Grant to Boost U.S. Critical Mineral Supply Chain
TL;DR
American Battery Materials, Inc. seeks a $40,750,000 grant to secure a competitive edge in developing a US-sourced supply chain for critical minerals like Lithium and Magnesium.
ABM has applied for a Defense Production Act-Title III grant, leveraging 14,000 acres of mineral rights and USGS data to methodically advance critical mineral development.
ABM's initiative supports national security and sustainability, aiming to reduce US reliance on foreign sources for essential battery materials, fostering a better future.
Exploring 14,000 acres in Utah, ABM taps into decades of USGS data, highlighting an innovative approach to securing critical minerals for energy transition.
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American Battery Materials, Inc. (OTC PINK: BLTH), a U.S.-based company at the forefront of critical mineral resource development, has taken a significant step towards strengthening the domestic supply chain for essential minerals. The company has submitted an application for a $40,750,000 grant under the Defense Production Act-Title III appropriation. This move underscores the growing emphasis on securing a reliable, U.S.-sourced supply of critical minerals, particularly lithium and magnesium, which are vital for national security and the energy transition.
David E Graber, CEO of American Battery Materials, emphasized the strategic importance of this initiative. With historical brine composition data indicating the presence of lithium and magnesium, ABM is positioning itself as a key player in reducing the U.S.'s reliance on foreign sources for these critical minerals. The company's efforts align with the current administration's commitment, as announced by President Donald J. Trump, to streamline funding for energy infrastructure and critical mineral projects.
The application for the Defense Production Act grant reflects a broader shift in strategy among U.S. government agencies, including the Department of Defense and the Department of Energy, towards proactive measures in securing critical mineral supplies. American Battery Materials, with its mineral rights on 14,000 acres of Federal BLM land in southeastern Utah and decades of USGS well data, is well-positioned to contribute to this national priority.
This development is not just a milestone for American Battery Materials but also a significant step towards ensuring the U.S. has access to the minerals necessary for its defense and energy sectors. The outcome of this grant application could have far-reaching implications for the domestic supply chain of critical minerals, marking a pivotal moment in the U.S.'s efforts to achieve mineral independence and security.
Curated from News Direct
