American Battery Technology Company Receives $900 Million Letter of Interest for Nevada Lithium Project
American Battery Technology Company (ABTC), a leader in critical battery materials, has announced its receipt of a Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM) for $900 million. The funding is aimed at constructing a commercial-scale lithium mine and a claystone-to-lithium hydroxide refinery near Tonopah, Nevada. Although the LOI is not a commitment, it comes shortly after ABTC’s partnership with Black & Veatch to design and build a facility expected to produce nearly 33,000 tons of lithium hydroxide annually.
ABTC’s CEO, Ryan Melsert, expressed optimism about the potential impact of this financing on the rapid commercialization of their technologies in domestic lithium production and recycling. The company recently published an assessment indicating that this project could tap into one of the largest lithium resources in the U.S., sourced from unconventional claystone materials in Nevada.
This initiative supports EXIM’s “Make More in America” and “China and Transformational Export Program,” designed to assist U.S. firms competing with China in vital mineral exports. The LOI aligns with President Trump’s executive order aimed at enhancing American mineral production.
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