(Total Views: 84)
Posted On: 11/22/2024 4:56:18 PM
Post# of 109
One Biden Admin Clean Energy Project in Nevada Could Win Trump’s Favor
With controversial billionaire and President-elect Donald Trump set to take over from President Joe Biden over the next couple of months, America’s clean energy industry remains apprehensive about its future. Trump has publicly criticized the Biden administration’s significant investments in renewables and vowed to defund most green energy programs once he assumes office. However, there is one renewable energy project in Nevada that could win Trump’s favor.
There are only two known lithium-boron deposits across the entire globe, and one of them is in Nevada. Located at Rhyolite Ridge, the lithium deposits are so immense that they can support the manufacture of 370,000 batteries annually, more than enough to wean America off of the Chinese supply chain, something Donald Trump is very keen on doing. First discovered in the mid-2000s, the lithium deposits could be instrumental in helping America build a domestic supply chain for the raw materials used in electric vehicle battery production.
Bernard Rowe, a native Australian who moved to Esmeralda County, Nevada, in the early 2000s, says both boron and lithium play a key role in the manufacturing of electric vehicle batteries and will be a critical component of the transition to green energy. Rowe co-founded a firm called Ioneer in 2001 to develop an American source of boron and lithium that extracts the two minerals in a socially and environmentally responsible way.
Ioneer gained ownership of the Rhyolite Ridge Lithium-Boron Project in 2017 and began the long process of establishing a lithium mine at the location. Due to the country’s especially tough environmental laws, it took Ioneer nearly a decade to secure all the land permits it needed and federal land managers gave it the final go-ahead just days before the November 2024 elections.
The federal government has also provided additional financing for the mining project alongside funding for a nearby processing facility. Additionally, Ioneer has secured partnerships with Ford Motor Company, Toyota, and other manufacturers in the U.S. to supply lithium from the Rhyolite Ridge Project. Rowe notes that the planned Rhyolite Ridge lithium mine could produce enough lithium to quadruple electric vehicle production in the U.S.
China currently produces well over 90% of the world’s EV battery materials and dominates most of the global EV battery supply chain. By allowing the U.S. to mine and process its own lithium, Rhyolite Ridge could significantly boost the domestic production of one of the main ingredients used in battery production and help the U.S. reduce its reliance on Chinese producers.
Mining companies like First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are also working to create supply chains of other critical minerals within the North American region so that alternatives to sources with close ties with China are available.
NOTE TO INVESTORS: The latest news and updates relating to First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are available in the company’s newsroom at https://ibn.fm/FSTTF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
With controversial billionaire and President-elect Donald Trump set to take over from President Joe Biden over the next couple of months, America’s clean energy industry remains apprehensive about its future. Trump has publicly criticized the Biden administration’s significant investments in renewables and vowed to defund most green energy programs once he assumes office. However, there is one renewable energy project in Nevada that could win Trump’s favor.
There are only two known lithium-boron deposits across the entire globe, and one of them is in Nevada. Located at Rhyolite Ridge, the lithium deposits are so immense that they can support the manufacture of 370,000 batteries annually, more than enough to wean America off of the Chinese supply chain, something Donald Trump is very keen on doing. First discovered in the mid-2000s, the lithium deposits could be instrumental in helping America build a domestic supply chain for the raw materials used in electric vehicle battery production.
Bernard Rowe, a native Australian who moved to Esmeralda County, Nevada, in the early 2000s, says both boron and lithium play a key role in the manufacturing of electric vehicle batteries and will be a critical component of the transition to green energy. Rowe co-founded a firm called Ioneer in 2001 to develop an American source of boron and lithium that extracts the two minerals in a socially and environmentally responsible way.
Ioneer gained ownership of the Rhyolite Ridge Lithium-Boron Project in 2017 and began the long process of establishing a lithium mine at the location. Due to the country’s especially tough environmental laws, it took Ioneer nearly a decade to secure all the land permits it needed and federal land managers gave it the final go-ahead just days before the November 2024 elections.
The federal government has also provided additional financing for the mining project alongside funding for a nearby processing facility. Additionally, Ioneer has secured partnerships with Ford Motor Company, Toyota, and other manufacturers in the U.S. to supply lithium from the Rhyolite Ridge Project. Rowe notes that the planned Rhyolite Ridge lithium mine could produce enough lithium to quadruple electric vehicle production in the U.S.
China currently produces well over 90% of the world’s EV battery materials and dominates most of the global EV battery supply chain. By allowing the U.S. to mine and process its own lithium, Rhyolite Ridge could significantly boost the domestic production of one of the main ingredients used in battery production and help the U.S. reduce its reliance on Chinese producers.
Mining companies like First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are also working to create supply chains of other critical minerals within the North American region so that alternatives to sources with close ties with China are available.
NOTE TO INVESTORS: The latest news and updates relating to First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are available in the company’s newsroom at https://ibn.fm/FSTTF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
(0)
(0)Scroll down for more posts ▼
