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From 2020 to 2030, the battery industry’s demand for lithium is expected to have a compound annual growth rate (CAGR) of 25 percent. The huge demand for lithium and the number of gigafactories that are already in the process of getting approval are what drives Nevada Sunrise to fully focus its exploration and development efforts on their lithium assets, according to its CEO Warren Stanyer.
“At this time, we’ve taken a turn away from gold. We still fund a certain gold project, called Kinsley Mountain, but it is not the priority because of the surge in the lithium market. And they’re all in Nevada, everything we do.”
Sustainable production is also becoming a critical aspect of lithium production. Stanyer believes the only way to make it a really sustainable industry is to reduce the carbon footprint that’s been associated with mining and processing lithium into batteries in the past.
“I guess the real big challenge is mining lithium, and then processing it into batteries in a fairly small geographical area, rather than sending it to China, having it come back… I think that’s the goal for the future. To make it a really sustainable industry is to cut out all that travel of the lithium,” Stanyer said.
Stanyer said Canada and the United States, in anticipation of surging demand for lithium, are wanting to outline where their deposits are and build an inventory of lithium on the ground.
“That’s planning for the future. You don’t want to be held hostage by other countries… you want to have your own domestic supply. So that’s really working for us as explorers right now in North America,” he said.
Nevada Sunrise commenced the Phase 2 drilling program at its 100-,percent-owned Gemini Lithium Project located in the Lida Valley basin in Esmeralda County, Nevada. The company also engaged Willem Duyvesteyn M.Sc., of Reno, Nevada as a metallurgical consultant for all its lithium projects in the state.
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.