American Lithium Minerals announced yesterday January 12, 2010, that they have entered a deal with Nevada Mining Co. Inc. to obtain Three Exploration Lithium Brine Projects in Nevada and One Lithium Brine Project in Utah.
Stated Hugh Aird, CEO and President of American Lithium Minerals, "The importance of the U.S. Government's commitment to the domestic production of lithium could not be more evident than in the fact that the Chemetall Foote, Clayton Valley facility was recently awarded $28.4 million dollars in stimulus funds for "the production of lithium materials for advanced transportation batteries." Mr. Aird continued, "Three of these newly acquired properties, along with our 16,000 acres in Montezuma Valley (which borders Clayton Valley) are all in the immediate geographic vicinity of the Chemetall Foote facility and are topographically consistent as well. All of these properties have shown extremely high ppm lithium results in sampling tests and are terrific additions to our growing portfolio of properties."
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About Lithium
Lithium is used for batteries, specialty glass, lubricants, pharmaceuticals and lithium alloys. Lithium ion (Li-ion) batteries have become the rechargeable battery of choice in cell phones, computers, hybrid-electric cars and electric cars. GM, Ford, Toyota, Dodge, Chrysler, Mitsubishi, Nissan, Tesla, Saturn and Mercedes-Benz have all announced plans to build Li-ion battery-powered cars. 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. Over 60% of cell phones and 90% of laptops use lithium batteries. The worldwide market for lithium batteries is estimated at over $4 billion per year.
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