American Battery Technology receives $57M contract award from US DOE for lithium hydroxide refinery in Nevada

(Kitco News) - American Battery Technology (ABTC; OTCQX: ABML) announced today it has received its $57 million contract award from the U.S. Department of Energy (DOE) for a multi-year project to design, construct, and operate its first-of-kind commercial-scale lithium hydroxide manufacturing facility in Tonopah, Nevada.

ABTC said the U.S. DOE contract award marks a major milestone in the commercialization of the companys Tonopah Flats lithium project, which is designed to provide commercial-scale quantities of low-cost, low environmental impact, domestic critical mineral lithium hydroxide needed for the U.S. clean energy transition.

According to a press release, based on a recent third-party audited SK-1300-compliant inferred resource report, the Tonopah Flats lithium project is one of the largest known lithium resources in the United States, containing approximately 15.8 million tons of economically accessible lithium on a carbonate equivalent basis.