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 bolstering the nation's 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, aiming to secure a reliable domestic source of lithium and magnesium, two minerals critical to national security and the energy sector.
David E Graber, CEO of American Battery Materials, emphasized the importance of this initiative, stating, "With two critical minerals evidenced in our historical brine composition, Lithium and Magnesium, we believe ABM is a suitable candidate to assist the US government and, more specifically, the US Department of Defense in supporting the creation of a reliable US-sourced domestic supply chain for certain critical minerals here in the United States." This move aligns with the current administration's commitment, as announced by President Donald J. Trump, to streamline funding for energy infrastructure and critical mineral projects, underscoring the strategic importance of reducing reliance on foreign sources for these vital materials.
The application by American Battery Materials comes at a time when the U.S. Department of Defense, Department of Energy, and related agencies are intensifying efforts to secure a domestic supply chain for rare earth and battery metals. These materials are not only crucial for the nation's defense capabilities but also play a pivotal role in the global transition to renewable energy. The company's optimism about the project's potential under the current leadership reflects a broader recognition of the need for sustainable and secure mineral resources.
American Battery Materials, Inc. holds mineral rights on 14,000 acres of Federal BLM land in southeastern Utah, backed by five decades of USGS well data, positioning it as a key player in the exploration and development of lithium and other battery materials. This initiative represents a critical step towards achieving energy independence and ensuring the long-term security and sustainability of the U.S. energy and defense sectors.
