Elektros ELEK, an emerging leader in the electric mobility industry, announced it has begun talks with Lithium mining project in Sierra Leon, Africa.
Elektros announced it has begun discussions regarding potential stake or development agreement for virgin Lithium mining project located in Sierra Leon, Africa.
The Company has begun a mining feasibility study on the project and will explore prospects of developing the mine as a lithium supplier to select processing partners, or battery manufacturer, with a portion of lithium supply potentially being reserved for any future battery production under Elektros umbrella.
Upon completion of feasibility study, the company anticipates executing a letter of intent agreement towards next phase of development negotiations.
Annual lithium demand is projected to reach roughly 1.5 million metric tons of lithium carbonate equivalent by 2025 and over 3 million tons by 2030. This 2025 forecast calls for triple the demand seen in 2021.
Electric Vehicles (EVs) could account for about 84% of total lithium demand in 2030, up from about 55% in 2021. Consumer electronics, energy storage, and other industrial applications are likely to account for the balance of demand.
Mr. Shlomo Bleier, the CEO of Elektros, Inc., has been involved in the mining industry for over 35 years, to include operations in Brazil and Sierra Leone for the past ten years.
From 1993 to 1999, he worked for Simcha Diamond Ltd. in Brazil where he successfully mined gold and diamonds. From 2000-2004, he was a partner in S & T Mining Group, Ltd in Sierra Leon, Africa, where he served as chief administrator of operations. From 2005-2015, Mr. Bleier has been active in managing various projects in Sierra Leon Africa mining.
Source: http://www.elektrosmotors.com