American Battery Technology Company (ABTC), an integrated critical battery materials provider, received a letter of interest from the Export-Import Bank of the United States (EXIM) for $900 million for its Nevada Lithium Project, which it expects will produce nearly 33,000 tons of lithium hydroxide annually. The LOI follows President Donald Trump’s executive order, “Immediate Measures to Increase American Mineral Production,” which directed federal agencies to expedite funding and support for domestic critical mineral manufacturing facilities.
While the LOI does not constitute a commitment of financing, if secured, the financing will support the construction of its commercial-scale lithium mine and claystone-to-lithium hydroxide refinery near Tonopah.
ABTC has partnered with engineering firm Black & Veatch to support the design and construction activities, which will bring the operator closer to its goal of commercializing its technologies for primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling activities.
In April 2024, in accordance with SEC guidelines, ABTC released its amended Initial Assessment which offered technical and economic impacts of the project, which proved that it could serve as one of the largest known lithium resources in the country.
“This proposed financial support can greatly accelerate the commercialization of our domestic critical mineral mine and refinery, and we are excited to implement at scale these first-of-kind technologies that we have been demonstrating over the past several years,” American Battery Technology Company CEO Ryan Melsert said.
