Patrick Highsmith, CEO of Pure Energy Minerals on the new technology for extracting lithium.
Lithium-ion batteries have been broadly adopted for lightweight applications where energy density is important. Obviously, that applies to the electronics we’ve been carrying around for years but also to more intensive uses like electric vehicles. The latest forecasts around the industry call for at least a quadrupling of the size of the lithium battery business over the next 10 years. Pure Energy Minerals is a Canadian listed mineral exploration and development company. Our flagship asset is the Clayton Valley Lithium Brine project in Esmeralda County Nevada but we also have an early-stage exploration project called Terra Cotta in the lithium triangle of northern Argentina. At the Clayton Valley Lithium Project we intend to be a next generation producer of lithium hydroxide. These evaporation ponds can take up to two years to concentrate the lithium for production. The new Tenova technology can accomplish that in hours. Cleaner, greener and faster than it’s ever been done before. The PEA estimates that our cost of production of lithium hydroxide will be around $3,200 a ton which would make it very cost competitive with the best operations around the world today. We signed a conditional supply agreement with Tesla and that agreement indicates that if we build a mine they’ll be one of our first customers.
Pure Energy Minerals is an emerging leader in the development of innovative, resource efficient mineral exploration and project development. Pure Energy’s flagship lithium brine project is located in Clayton Valley, Nevada, immediately adjacent to North America’s only producing lithium mine. The Clayton Valley Project contains an inferred mineral resource of 816,000 tonnes of lithium carbonate equivalent (“LCE”), reported in accordance with Canadian National Instrument 43-101 on July 28, 2015.
Pure Energy Minerals is led by seasoned technical and business development professionals who have deep roots in resource development, project and corporate finance, and mergers and acquisitions. Among the relatively small community of lithium explorers and developers, few companies can boast more lithium specific experience than the Pure Energy team.
In addition, Pure Energy is at the leading edge of new processing technologies for lithium through its collaboration with global multinational technology partners such as Tenova Bateman (Tenova Bateman Technologies). Our objective is to demonstrate and deploy low-cost and earth-friendly processing technologies to produce advanced lithium battery materials to meet the anticipated burgeoning growth in lithium demand.
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